Quarterly financial information as of September 30, 2021IFRS -
Regulated information - Not audited
Cegedim: Robust growth continued in
3Q 2021
- Over the first nine
months of 2021, revenues totaled €376 million
- +4.0%
like-for-like(1) growth in the third quarter of 2021
- +5.5%
like-for-like(1) growth over the first nine months of 2021
Boulogne-Billancourt, France, October
28, 2021, after the market close
“Building on an excellent first six months,
Cegedim had a good third quarter, with revenues up 5.0%. As the
world gradually emerges from the public health crisis, the Group is
confident that the current growth will continue.
More than ever, we are investing to ensure
profitable long-term growth. For example, our investment in Cegedim
Santé is allowing us to respond to new public health challenges.
And the Group is also adapting its Governance to the challenges of
long-term value creation by forming an ESG Committee to focus on
environmental, social, and governance issues.”
Laurent
Labrune –
Cegedim Deputy Managing
Director
Cegedim generated consolidated 3Q revenues of
€124.8 million, an increase of 5.0% as reported and 4.0% like for
like(1) compared with the same period in 2020. Over the first nine
months of 2021, consolidated revenues of €376 million represented
year-on-year growth of 5.9% as reported and 5.5% like for
like(1).
Revenue
|
|
9 months |
Change 9M 2021 /
2020 |
in € millions |
|
2021 |
2020 |
Reported |
LFL(3) |
Software & Services |
|
211.5 |
201.7 |
+4.9% |
+4.2% |
Flow |
|
61.5 |
57.4 |
+7.2% |
+7.1% |
Data &
Marketing |
|
66.5 |
57.5 |
+15.8% |
+15.8% |
BPO |
|
34.4 |
35.9 |
(4.3)% |
(4.3)% |
Corporate and
others |
|
2.0 |
2.7 |
(23.9)% |
(23.9)% |
Cegedim |
|
376.0 |
355.1 |
+5.9% |
+5.5% |
Analysis of business trends by division
Over the first nine months of 2021, the
division’s reported revenues rose 4.2% like for like(1) compared
with a year earlier to €211.5 million, almost matching the pace of
growth in the first half.
Revenues got a boost from stronger growth in
computerization activities for health insurers, bolstered by the
resumption of project-based business, among other factors. While
projects are resuming, they are having to take into consideration
clients’ work-from-home arrangements, which are less conducive to
change management.
Cegedim Santé is experiencing solid momentum,
and Maiia, the appointment scheduling and teleconsultation
business, doubled its revenues over the first nine months of 2021
compared with 2020. Lastly, the HR management outsourcing activity
is also on the right track.
__________(1) At constant scope
and exchange rates.(2) At constant scope and
exchange rates. The positive currency impact of 0.2% was mainly due
to the pound sterling. The positive scope effect of 0.2% was
attributable to the first-time consolidation of new acquisitions
Médimust and Kobus Tech.
Over the first nine months of 2021, the
division’s reported revenues rose 7.1% year on year and like for
like(1), to €61.5 million.
Process digitalization and data exchange
experienced growth across all sectors and began delivering several
projects awarded in the first half of 2021.
People in France reduced their use of the
healthcare system early in the year because of public health
restrictions, which put a crimp on healthcare flow business related
to reimbursements.
Over the first nine months of 2021, revenues
rose 15.8% like for like(1) compared with 9M 2020 to €66.5
million.
Data activities experienced strong growth
against the backdrop of the pandemic. In July, Cegedim rolled out
its real-world database in the Italian market.
On the back of very strong growth in the third
quarter, digital communications for pharmacies in France posted a
9M 2021 performance on a par with its showing over the same
period in 2019. Futuramedia, a digital communication solutions
expert, is rolling out its offering in UK pharmacies.
Over the first nine months of 2021, the
division’s revenues came to €34.4 million, down 4.3% like for
like(1) compared with the same period in 2020. The trend over nine
months was in line with the H1 2021 trend.
A significant portion of this division’s
business is providing services for insurance companies and mutual
insurance providers, so it took a hit from public health
restrictions due to the Covid-19 pandemic that caused people in
France to reduce their use of the healthcare system.
Over the first nine months of 2021, the
division’s revenues came to €2.0 million, down 23.9% like for
like(1) compared with the same period in 2020.
Highlights
Other than the items cited above, to the best of
the Company’s knowledge, there were no events or changes during the
period liable to materially affect the Group’s financial
situation.
Significant transactions and events post
September
30,
2021
To the best of the company’s knowledge, there
were no post-closing events or changes that would materially alter
the Group’s financial situation.
Outlook
As noted on September 16, Cegedim expects
like-for-like(1) revenue growth of 3% to 5% and recurring operating
income(1) of around 4%.
These targets may need to be revised if the
Covid-19 crisis causes a severe tightening of public health
restrictions in Europe after this press release is issued.
The Group does not expect to make any
significant acquisitions in 2021. And lastly, the group does not
provide earnings estimates or forecasts.
The Audit Committee met on October 27, 2021. The
Board of Directors, chaired by Jean-Claude Labrune, met on October
28, 2021.
__________(1) At constant scope
and exchange rates.2021 Financial
calendar
WEBCAST ON OCTOBER
28, 2021 AT 6:15 PM
(PARIS TIME) |
The webcast is available at:
www.cegedim.com/webcast |
|
The 9M 2021 revenues presentation is available at:
- On the website:
https://www.cegedim.com/finance/documentation/Pages/presentations.aspx
- And on the Cegedim
IR smartphone app, available at
|
2022 Financial calendar
2022 |
January 27 after the
closeMarch 24, after the closeApril
28, after the closeJune
17 at 9:30 pm CET |
FY 2021 revenuesFY 2021 results1Q 2022 revenuesShareholders’
meeting |
DisclaimerThis 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. It
was sent to Cegedim’s authorized
distributor on October 28, 2021,
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
2020 Universal Registration
Document filled with the AMF on April
16, 2021 under
number
D.21-0320. |
About Cegedim:Founded in 1969, Cegedim is an innovative
technology and services group 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 5,300 people in more than 10 countries
and generated revenue of close to €500 million in 2020. Cegedim SA
is listed in Paris (EURONEXT: CGM).To learn more, please visit:
www.cegedim.frAnd follow Cegedim on Twitter: @CegedimGroup,
LinkedIn and Facebook. |
Aude
BALLEYDIERCegedimMedia Relations and
Communications ManagerTél. : +33 (0)1 49 09 68
81aude.balleydier@cegedim.fr |
Jan Eryk
UMIASTOWSKICegedimChief Investment and
Investor Relations OfficerTél. : +33 (0)1 49 09 33
36janeryk.umiastowski@cegedim.com |
Céline
PARDOsuPRMedia
RelationsTél. : +33
(0)6 52 08 13 66cegedim@becoming-group.com |
|
Annexes
Breakdown of revenue by quarter and
division
in € thousands |
|
Q1 |
Q2 |
Q3 |
Q4 |
Total |
Software & services |
|
68.8 |
71.4 |
71.3 |
|
211.5 |
|
Flow |
|
21.0 |
20.7 |
19.8 |
|
61.5 |
|
Data &
Marketing |
|
19.9 |
24.8 |
21.8 |
|
66.5 |
|
BPO |
|
11.7 |
11.2 |
11.4 |
|
34.4 |
|
Corporate and
others |
|
1.0 |
0.5 |
0.5 |
|
2.0 |
|
Consolidated Group revenue |
|
122.5 |
128.7 |
124.8 |
|
376.0 |
|
in € thousands |
|
Q1 |
Q2 |
Q3 |
Q4 |
Total |
Software & services |
|
69.1 |
64.4 |
68.0 |
75.5 |
277.2 |
|
Flow |
|
20.4 |
18.0 |
19.0 |
22.0 |
79.4 |
|
Data &
Marketing |
|
18.9 |
19.6 |
19.0 |
30.3 |
87.8 |
|
BPO |
|
12.3 |
11.6 |
12.0 |
13.0 |
48.9 |
|
Corporate and
others |
|
0.9 |
0.9 |
1.0 |
1.0 |
3.6 |
|
Consolidated Group revenue |
|
121.5 |
114.7 |
118.9 |
141.8 |
496.9 |
|
Breakdown of revenue by geographic zone and
division as of September
30, 2021
as a % of consolidated revenues |
|
France |
EMEA ex. France |
Americas |
Software & services |
|
81.4% |
18.5% |
0.1% |
Flow |
|
93.6% |
6.4% |
0.0% |
Data &
Marketing |
|
97.2% |
2.8% |
0.0% |
BPO |
|
100.0% |
0.0% |
0.0% |
Corporate and
others |
|
99.5% |
0.5% |
0.0% |
Cegedim |
|
88.0% |
11.9% |
0.1% |
Breakdown of revenue by currency and division
as of September
30, 2021
as a % of consolidated revenues |
|
Euro |
GBP |
Others |
Software & services |
|
84.4% |
13.7% |
1.9% |
Flow |
|
96.6% |
3.4% |
0.0% |
Data &
Marketing |
|
97.2% |
0.0% |
2.8% |
BPO |
|
100.0% |
0.0% |
0.0% |
Corporate and
others |
|
100.0% |
0.0% |
0.0% |
Cegedim |
|
90.1% |
8.3% |
1.6% |
9M 2021 Revenue by
sector
|
|
9 months |
in € millions |
|
2021 |
2020 |
LFL change(1) |
Reported chg. |
Health insurance, HR and e-services |
|
264.3 |
241.2 |
+9.5% |
+9.6% |
Healthcare
professionals |
|
109.6 |
111.3 |
(2.5)% |
(1.5)% |
Corporate and
others |
|
2.0 |
2.7 |
(23.9)% |
(23.9)% |
Cegedim |
|
376.0 |
355.1 |
+5.5% |
+5.9% |
(1) At constant scope and
exchange rates.Sector / division comparison
|
|
9M 2021 |
in € millions |
|
Health insurance, HR and e-services |
Healthcare professionals |
Corporate and others |
Total |
Software & services |
|
101.9 |
109.6 |
- |
211.5 |
Flow |
|
61.5 |
- |
- |
61.5 |
Data &
Marketing |
|
66.5 |
- |
- |
66.5 |
BPO |
|
34.4 |
- |
- |
34.4 |
Corporate and
others |
|
- |
- |
2.0 |
2.0 |
Total |
|
264.3 |
109.6 |
2.0 |
376.0 |
3Q 2021 Revenue by
division
|
|
3Q |
Change 3Q 2021 /
2020 |
in € millions |
|
2021 |
2020 |
Reported |
LFL(21) |
Software & Services |
|
71.3 |
68.0 |
+4.9% |
+3.3% |
Flow |
|
19.8 |
19.0 |
+4.1% |
+3.9% |
Data &
Marketing |
|
21.8 |
19.0 |
+14.4% |
+14.5% |
BPO |
|
11.4 |
12.0 |
(4.5)% |
(4.5)% |
Corporate and
others |
|
0.5 |
1.0 |
(44.2)% |
(44.2)% |
Cegedim |
|
124.8 |
118.9 |
+5.0% |
+4.0% |
(2) At constant scope and
exchange rates. The positive currency impact of 0.6% was mainly due
to the pound sterling. The positive scope effect of 0.4% was
attributable to the first-time consolidation of new acquisitions
Médimust and Kobus Tech.
- Cegedim_Revenues_3Q2021_ENG
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