Cegedim off to a dynamic start in 2023
April 27 2023 - 10:50AM
Quarterly financial information as of March 31, 2023IFRS -
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 quarter |
Change Q1 2023 / 2022 |
in millions of euros |
2023 |
2022 |
Reported |
Like for like(1)(2) |
Software & Services |
80.4 |
71.2 |
12.9% |
12.0% |
Flow |
24.8 |
22.6 |
9.7% |
9.9% |
Data & Marketing |
24.6 |
22.5 |
9.5% |
8.3% |
BPO |
14.4 |
12.3 |
17.8% |
17.8% |
Corporate and others |
1.6 |
0.7 |
135.2% |
135.2% |
Cegedim |
145.9 |
129.2 |
12.9% |
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 |
First quarter |
Change Q1 2023 / 2022 |
in millions of euros |
2023 |
2022 |
Reported |
LFL |
Cegedim Santé: |
20.6 |
14.7 |
40.1% |
33.2% |
Insurance, HR, Pharmacies, and other services |
47.3 |
44.5 |
6.2% |
6.0% |
International businesses |
12.5 |
12.0 |
4.4% |
8.1% |
Software & Services |
80.4 |
71.2 |
12.9% |
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 |
First quarter |
Change Q1 2023 / 2022 |
in millions of euros |
2023 |
2022 |
Reported |
LFL |
e-business |
15.0 |
13.7 |
9.5% |
9.9% |
Third-party payer |
9.8 |
8.9 |
9.9% |
9.9% |
Flow |
24.8 |
22.6 |
9.7% |
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 |
First quarter |
Change Q1 2023 / 2022 |
in millions of euros |
2023 |
2022 |
Reported |
LFL |
Data |
13.1 |
12.3 |
6.3% |
4.1% |
Marketing |
11.5 |
10.2 |
13.4% |
13.4% |
Data & Marketing |
24.6 |
22.5 |
9.5% |
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 |
First quarter |
Change Q1 2023 / 2022 |
in millions of euros |
2023 |
2022 |
Reported |
LFL |
Insurance BPO |
8.8 |
7.5 |
16.3% |
16.3% |
HR BPO |
5.7 |
4.7 |
20.2% |
20.2% |
BPO |
14.4 |
12.3 |
17.8% |
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.
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:
- On the website:
https://www.cegedim.fr/finance/documentation/Pages/presentations.aspx
- And on the Cegedim
IR smartphone app, available at
https://www.cegedim.fr/finance/profil/Pages/CegedimIR.aspx
|
|
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
2023 |
April 27 after the closeJune 16
at 9:30 amJuly 27 after the closeSeptember
20 after the close |
Q1 2023 revenuesShareholders’ meetingH1 2023 revenuesH1 2023
results |
Financial calendar:
https://www.cegedim.fr/finance/agenda/Pages/default.aspx
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.
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.frAnd follow Cegedim on Twitter @CegedimGroup, LinkedIn
and Facebook. |
Aude
BalleydierCegedimMedia Relations and
Communications ManagerTel.: +33 (0)1 49 09 68
81aude.balleydier@cegedim.fr |
Jérôme
MoreauCegedimDirector of
Management Control Head of Financial CommunicationTel.: +33 (0)7 85
63 61 99jerome.moreau@cegedim.com |
Céline
Pardo .becomingMedia
Relations Tel.: +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 |
|
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 |
|
in € thousands |
|
Q1 |
Q2 |
Q3 |
Q4 |
Total |
Software & services |
|
71.2 |
74.4 |
75.2 |
81.1 |
302.0 |
|
Flow |
|
22.6 |
22.6 |
21.5 |
23.9 |
90.6 |
|
Data &
marketing |
|
22.5 |
27.6 |
22.8 |
34.1 |
106.9 |
|
BPO |
|
12.3 |
13.1 |
13.0 |
14.6 |
53.0 |
|
Corporate and
others |
|
0.7 |
0.7 |
0.8 |
0.7 |
2.8 |
|
Group revenue |
|
129.2 |
138.3 |
133.3 |
154.4 |
555.2 |
|
Breakdown of revenue by geographic zone, currency, and
division at March 31, 2023
as a % of consolidated revenues |
|
Geographic zone |
|
Currency |
|
France |
EMEAex. France |
Americas |
|
Euro |
GBP |
Others |
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% |
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