• Cegedim off to a dynamic start in 2023

    Source: Nasdaq GlobeNewswire / 27 Apr 2023 11:50:00   America/New_York


    Quarterly financial information as of March 31, 2023
    IFRS - Regulated information - Not audited

    • Q1 2023 revenues grew 12.9%
    • Cegedim Santé: growth picking up speed

    Boulogne-Billancourt, France, April 27, 2023, after the market close

    Revenue

     First quarterChange Q1 2023 / 2022
    in millions of euros20232022ReportedLike for like(1)(2)
    Software & Services80.471.212.9%12.0%
    Flow24.822.69.7%9.9%
    Data & Marketing24.622.59.5%8.3%
    BPO14.412.317.8%17.8%
    Corporate and others1.60.7135.2%135.2%
    Cegedim145.9129.212.9%12.2%

    (1)   At constant scope and exchange rates.
    (2)   The positive currency impact of 0.4% was mainly due to the pound sterling. The positive scope effect of 1.1% was attributable to the first-time consolidation in Cegedim’s accounts of new acquisitions Kobus Tech, Mesdocteurs, Laponi, and Clinityx.

    Cegedim generated consolidated Q1 2023 revenues of €145.9 million, an increase of 12.9% as reported and 12.2% like for like(1) compared with the same period in 2022. All divisions contributed to the growth. Divisional growth rates ranged from 9.5% to 17.8%, confirming the good sales momentum seen in previous quarters.

    Analysis of business trends by division

    • Software & Services
    Software & ServicesFirst quarterChange Q1 2023 / 2022
    in millions of euros20232022ReportedLFL
    Cegedim Santé:20.614.740.1%33.2%
    Insurance, HR, Pharmacies, and other services47.344.56.2%6.0%
    International businesses12.512.04.4%8.1%
    Software & Services80.471.212.9%12.0%

    Cegedim Santé picked up its pace of growth to 40% compared with the first quarter of 2022. Ségur Act-related roll-outs generated €2.8 million in first-quarter revenues and acquisitions, €1.0 million. Other French activities grew sales by 6.2%, buoyed by HR activities and other services. International businesses returned to growth, particularly in the doctor and insurance segments in the UK.

    • Flow
    FLOWFirst quarterChange Q1 2023 / 2022
    in millions of euros20232022ReportedLFL
    e-business15.013.79.5%9.9%
    Third-party payer9.88.99.9%9.9%
    Flow24.822.69.7%9.9%

    The process digitalization and digital data flow business grew by 9.5%. Both French and international activities contributed to the growth.

    Third-party payer systems in France had an excellent first quarter, up nearly 10%, owing to strong invoice volumes in pharmacies and rising volumes in the hospital segment.

    • Data & Marketing
    Data & MarketingFirst quarterChange Q1 2023 / 2022
     in millions of euros20232022ReportedLFL
    Data13.112.36.3%4.1%
    Marketing11.510.213.4%13.4%
    Data & Marketing24.622.59.5%8.3%

    Most of the growth in Data activities came from French sales. The positive scope effect of +2.2% was attributable to the first-time consolidation of Clinityx.

    Advertising in pharmacies had a promising start to the year, growing by double digits.

    • BPO
    BPOFirst quarterChange Q1 2023 / 2022
     in millions of euros20232022ReportedLFL
    Insurance BPO8.87.516.3%16.3%
    HR BPO5.74.720.2%20.2%
    BPO14.412.317.8%17.8%

    BPO operations continued to post double-digit growth over the first quarter, driven equally by services aimed at health and personal protection insurance companies, and by those designed for clients’ HR departments.

    Highlights

    Apart from the items cited below, to the best of the company’s knowledge, there were no events or changes during Q1 2023 that would materially alter the Group’s financial situation.

    • War in Ukraine

    The Group does not do business in Russia or Ukraine and has no assets exposed to those countries.

    Significant transactions and events post March 31, 2023

    To the best of the company’s knowledge, there were no post-closing events or changes after March 31, 2023, that would materially alter the Group’s financial situation.

    Outlook

    Based on Q1 2023 revenues up 12.2% like for like(1), and despite the public health, economic, geopolitical, and monetary uncertainty facing the world, the Group is confident it can grow full-year revenues by at least 10% like for like(1).

    The Group does not expect to make any significant acquisitions in 2023.

    ---------

    (1) At constant scope and exchange rates.

    WEBCAST ON APRIL 27, 2023, AT 6:15 PM (PARIS TIME)
    The webcast is available at: www.cegedim.fr/webcast
     
    The Q1 2023 revenue presentation is available:

     
     

    The Audit Committee met on April 26, 2023.

    The Board of Directors, chaired by Jean-Claude Labrune, met on April 27, 2023.

    2023 financial calendar

    2023April 27 after the close

    June 16 at 9:30 am

    July 27 after the close

    September 20 after the close    		Q1 2023 revenues

    Shareholders’ meeting

    H1 2023 revenues

    H1 2023 results

    Financial calendar: https://www.cegedim.fr/finance/agenda/Pages/default.aspx

    Disclaimer
    This press release is available in French and in English. In the event of any difference between the two versions, the original French version takes precedence. This press release may contain inside information. It was sent to Cegedim’s authorized distributor on April 27, 2023, no earlier than 5:45 pm Paris time.
    The figures cited in this press release include guidance on Cegedim's future financial performance targets. 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 Cegedim, please refer to Chapter 7, “Risk management”, section 7.2, “Risk factors and insurance”, and Chapter 3, “Overview of the financial year”, section 3.6, “Outlook”, of the 2022 Universal Registration Document filled with the AMF on April 12, 2023, under number D.23-0266.

     
     

     

    About Cegedim:
    Founded in 1969, Cegedim is an innovative technology and services company in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs more than 6,000 people in more than 10 countries and generated revenue of €555 million in 2022.
    Cegedim SA is listed in Paris (EURONEXT: CGM).
    To learn more, please visit: www.cegedim.fr
    And follow Cegedim on Twitter @CegedimGroup, LinkedIn and Facebook.

     

    Aude Balleydier
    Cegedim
    Media Relations
    and Communications Manager
    Tel.: +33 (0)1 49 09 68 81
    aude.balleydier@cegedim.fr
    Jérôme Moreau
    Cegedim
    Director of Management Control
    Head of Financial Communication
    Tel.: +33 (0)7 85 63 61 99
    jerome.moreau@cegedim.com
    Céline Pardo
    .becoming
    Media Relations

     

    Tel.:        +33 (0)6 52 08 13 66
    cegedim@becoming-group.com    		 

     


    Annexes

    Breakdown of revenue by quarter and division

    • Year 2023
    in € thousands Q1Q2Q3Q4Total
    Software & Services 80.4   80.4 
    Flow 24.8   24.8 
    Data & marketing 24.6   24.6 
    BPO 14.4   14.4 
    Corporate and others 1.6   1.6 
    Group revenue 145.9   145.9 
    • Year 2022
    in € thousands Q1Q2Q3Q4Total
    Software & services 71.274.475.281.1302.0 
    Flow 22.622.621.523.990.6 
    Data & marketing 22.527.622.834.1106.9 
    BPO 12.313.113.014.653.0 
    Corporate and others 0.70.70.80.72.8 
    Group revenue 129.2138.3133.3154.4555.2 

    Breakdown of revenue by geographic zone, currency, and division at March 31, 2023

    as a % of consolidated revenues

         		 Geographic zone Currency
     FranceEMEA
    ex. France    		Americas EuroGBPOthers
    Software & Services 84.5%15.4%0.1% 87.2%11.3%1.6%
    Flow 92.1%7.9%0.0% 94.9%5.1%0.0%
    Data & marketing 97.3%2.7%0.0% 97.7%0.0%2.3%
    BPO 100.0%0.0%0.0% 100.0%0.0%0.0%
    Corporate and others 100.0%0.0%0.0% 100.0%0.0%0.0%
    Cegedim 89.6%10.3%0.1% 91.7%7.1%1.3%

    Attachment


Share on,