Cegedim: Growth picked up speed in the first quarter of 2019

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Quarterly Financial Information as of March 31, 2019 IFRS - Regulated Information - Not Audited

All the operating divisions made positive year-on-year contributions to the Group’s like-for-like growth.

BPO revenues rose 25% in the first quarter of 2019 to €10.6 million.

In the first quarter of 2019, posted consolidated Group revenues of €119.2 million, up 6.5% as reported. Excluding a positive impact of 0.3% from currency translation and 1.6% from acquisitions, revenues rose 4.6%.

The positive impact of €0.4 million, or 0.3%, was mainly attributable to US dollar appreciation, which represents 2.4% of Group revenue, and the virtual stability of the Sterling, which represents 9.4% of Group revenue.

The €1.8 million boost from acquisitions, or 1.6%, was chiefly the result of acquiring in France on March 30, 2018, and of in Germany on January 21, 2019.

In like-for-like terms, all the divisions made positive contributions to like-for –like growth. The Hdivision’s revenues rose 6.4% and the division’s revenues, 1.7%.

The businesses that made the biggest contributions to this growth were (sales data and statistics for pharmaceuticals), and—in the health insurance sector—BPO, third-party payment flow processing activities, (document and process digitization) and (HR management solutions).

The division represented 66.5% of revenues compared with 65.1% a year earlier.

The businesses that made the biggest positive contributions were software for doctors and allied health professionals in France and Belgium and the medication database. Doctor computerization business was steady in the UK and US.

The division represented 32.8% of revenues compared with 34.0% a year earlier.

The division represented 0.7% of consolidated revenues compared with 0.9% a year earlier.

Apart from the items cited below, to the best of the company’s knowledge, there were no events or changes during the period that would materially alter the Group’s financial situation.

On January 21, 2019, acquired German company . Building on its presence in the digitalization market in Belgium, France, the United Kingdom, and Morocco, now has a solid base for this activity in Germany, Europe’s leading economy. By acquiring a German leader positioned on the midmarket segment, will be able to develop its offer for SMEs. customers will gain access to a wider range of services, thanks to international scope.

On February 2019, acquired French company , an online appointment scheduling site whose close collaboration with hotlines gives it a unique positioning. This deal clearly reaffirms ambition to help healthcare professionals focus on patient care by offering innovative services that are 100% designed to improve the French healthcare system. 2018 revenues came to €0.6 million. It began contributing to the Group’s consolidation scope in March 2019.

On January 31, 2019, acquired , the leading provider of invoice digitization solutions to French municipalities and widely respected for its successful Electronic Document Management System (EDMS). BSV’s ZeDOC software suite includes electronic document management--a dynamic data capture tool that sets it apart from a conventional EDMS based on document indexing--Optical Character Recognition (OCR) and Automatic Document Recognition (ADR).

To the best of the company’s knowledge, there were no events or changes after the accounts were closed that would materially alter the Group’s financial situation.

Cegedim operates in constantly changing markets, and its strategic refocus is complete. The Group boasts solid fundamentals, a balanced portfolio of complementary offerings, a diverse client base, a broad geographic footprint, and the strength of an integrated group. These factors should enable it to sustain its current momentum and reach a new stage in its development where it can deliver lasting, profitable growth. Building on 2018, Cegedim continues to follow a strategy primarily focused on organic growth and driven by robust innovation.

The Group has set a target of around 5% growth in both like-for-like revenues and EBITDA.

In 2019, the Group does not expect any significant acquisitions and is not issuing any earnings estimates or forecasts.

In 2018, the UK accounted for 10.0% of consolidated Group revenues from continuing activities and 9.9% of consolidated Group EBIT.

With regard to healthcare policy, the Group has not identified any major European programs at work in the UK and expects UK policy to be only marginally affected by Brexit.

The figures cited above include guidance on future financial performances. This forward-looking information is based on the opinions and assumptions of the Group’s senior management at the time this press release is issued and naturally entails risks and uncertainty. For more information on the risks facing , please refer to Chapter 2, points 2.5, “Risk factors and insurance”, and 2.7, “Outlook”, of the 2018 Registration Document filled with the AMF on March 29, 2019.

First-quarter 2019 revenue figures have not been audited by the Statutory Auditors.

More news and information about Cegedim SA

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Globe Newswire: 16:50 GMT Wednesday 15th May 2019

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