PRESS RELEASE |
Quarterly financial information as of
IFRS - Regulated information - Not audited
- Like-for-like(1) revenue growth reached 6.2% in the first half
- Like-for-like(1) revenue growth reached 11.7% in the second quarter
- Revenue growth target revised higher.
Boulogne-Billancourt,
Second quarter revenues rose 12.2% as reported and 11.7% like for like(1) compared with the same period in 2020 and 2.6% compared with 2019. This growth reflects the fact that Q2 2020 was hit particularly hard by the pandemic, especially pharmacy media and project-based activities in the health insurance sector.
“We had a particularly active start to the year. The Group’s innovation efforts paid off in the form of several sizeable contracts in project-based business, notably in the insurance sector. We also launched Cegedim Santé
Conditions are still volatile and uncertain, and we are still feeling the impacts of the pandemic, but revenues rose 11.7% like for like in the second quarter of 2021 compared with 2020. This growth reflects our unique positioning within the healthcare space, offering data management, digital technologies, software, flow management, and related services.
Lastly, the acquisition of two best-in-class companies, Médimust and Kobus Tech, has among other things made
Revenue
H1 | Change H1 2021 / 2020 | Change H1 2021/2019 | ||||
in € millions | 2021 | 2020 | Reported | LFL(3) | LFL(4) | |
Software & Services | 140.2 | 133.7 | +4.9% | +4.6% | +1.9% | |
Flow | 41.7 | 38.4 | +8.7% | +8.7% | +2.6% | |
Data & Marketing | 44.8 | 38.4 | +16.4% | +16.5% | +8.8% | |
BPO | 22.9 | 23.9 | (4.3)% | (4.3)% | +5.9% | |
Corporate and others | 1.5 | 1.7 | (12.6)% | (12.6)% | (12.3)% | |
251.2 | 236.2 | +6.3% | +6.2% | +3.4% |
(1) At constant scope and exchange rates.
(2) Source: GIE SESAM-Vitale.
(3) At constant scope and exchange rates. Acquisitions and divestments had virtually no impact.
(4) At constant scope and exchange rates. Exchange rates had virtually no impact. The €3.0 million hit from scope effects, or 1.2pp, was chiefly due to the sale of nearly all of the business activities of
Analysis of business trends by division
- Software & Services
The division’s first half 2021 revenues rose to €140.2 million, up 4.6% like for like(1) compared with 2020 and 1.9% compared with 2019.
The growth came chiefly from a resurgence of project-based business, particularly in health insurance, following a pause of several months. The Group’s allied health professional computerization business in
- Flow
The division’s first half 2021 revenues rose to €41.7 million, up 8.7% like for like(1) compared with 2020 and 2.6% compared with 2019.
Process digitalization had a strong quarter across all sectors. After people in
- Data & Marketing
The division’s first half 2021 revenues rose to €44.8 million, up 16.5% like for like(1) compared with 2020 and 8.8% compared with 2019.
Data activities experienced strong growth against the backdrop of the pandemic. Advertising in French pharmacies was again close to its pre-pandemic level.
- BPO
The division’s first half 2021 revenues fell to €22.9 million, down 4.3% like for like(1) compared with 2020 but up 5.9% compared with 2019.
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 that caused people in
- Corporate and others
The division’s first half 2021 revenues fell to €1.5 million, down 12.6% like for like(1) compared with 2020 and 12.3% compared with 2019.
Highlights
To the best of the company’s knowledge, apart from the items listed below, there were no events or changes during the first half of 2021 that would materially alter the Group’s financial situation.
- Acquisition of Kobus in
France
On
- Acquisition of Médimust in
France
On
Médimust generated revenues of €1.3 million in 2020 and earned a profit. It began contributing to the Group’s consolidation scope in
(1) At constant scope and exchange rates.
(2) Source: GIE SESAM-Vitale.
Significant transactions and events post June 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
Revenues rebounded immediately after the first lockdown, so after a 2.5% like-for-like (1) decrease in first half 2020, we saw like-for-like(1) growth of 2.1% in the second half of 2020. Considering this basis of comparison and H1 2021 growth of 6.2%, the Group is raising its target for like-for-like(1) revenue growth in 2021 from 2% previously to 3-5%.
This target may need to be revised if the Covid-19 crisis causes a severe tightening of public health restrictions in
The Group will announce any changes to its outlook for recurring operating income(1) growth, currently 4%, when it releases its first half results on
The Group does not expect to make any significant acquisitions in 2021. And lastly, the group does not provide earnings estimates or forecasts.
WEBCAST ON JULY 27, 2021 AT |
The webcast is available at: www.cegedim.com/webcast |
The H1 2021 revenues presentation is available at:
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Financial calendar
2021 | H1 2021 results SFAF meeting Q3 2021 revenues |
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. It was sent to Cegedim’s authorized distributor on July 27, 2021, no earlier than The figures cited in this press release include guidance on | |||
About Founded in 1969, To learn more, please visit: www.cegedim.fr And follow | |||
Aude BALLEYDIER Media Relations and Communications Manager Tél. : +33 (0)1 49 09 68 81 aude.balleydier@cegedim.fr | Jan Eryk UMIASTOWSKI Chief Investment and Investor Relations Officer Tél. : +33 (0)1 49 09 33 36 janeryk.umiastowski@cegedim.com | Céline PARDO suPR Media Relations Tél. : +33 (0)6 52 08 13 66 cegedim@becoming-group.com | |
Annexes
Breakdown of revenue by quarter and division
- Year 2021
in € thousands | Q1 | Q2 | Q3 | Q4 | Total | |||
Software & services | 68.8 | 71.4 | 140.2 | |||||
Flow | 21.0 | 20.7 | 41.7 | |||||
Data & Marketing | 19.9 | 24.8 | 44.8 | |||||
BPO | 11.7 | 11.2 | 22.9 | |||||
Corporate and others | 1.0 | 0.5 | 1.5 | |||||
122.5 | 128.7 | 251.2 |
- Year 2020
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 | |||
121.5 | 114.7 | 118.9 | 141.8 | 496.9 |
Breakdown of revenue by geographic zone and division as of
as a % of consolidated revenues | EMEA ex. | |||
Software & services | 81.7% | 18.2% | 0.1% | |
Flow | 93.8% | 6.2% | 0.0% | |
Data & Marketing | 97.2% | 2.8% | 0.0% | |
BPO | 100.0% | 0.0% | 0.0% | |
Corporate and others | 99.6% | 0.4% | 0.0% | |
88.2% | 11.7% | 0.1% |
Breakdown of revenue by currency and division as of
as a % of consolidated revenues | Euro | GBP | Others | |
Software & services | 84.5% | 13.5% | 2.0% | |
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% | |
90.3% | 8.1% | 1.6% |
H1 2021 Revenue by sector
H1 | |||||
in € millions | 2021 | 2020 | LFL change(1) | Reported chg. | |
Health insurance, HR and e-services | 176.6 | 160.3 | +10.2% | +10.1% | |
Healthcare professionals | 73.0 | 74.1 | (1.5)% | (1.8)% | |
Corporate and others | 1.5 | 1.7 | (12.6)% | (12.6)% | |
251.2 | 236.2 | +6.3% | +6.2% |
Sector / division comparison
H1 2021 | |||||
in € millions | Health insurance, HR and e-services | Healthcare professionals | Corporate and others | Total | |
Software & services | 67.2 | 73.0 | - | 140.2 | |
Flow | 41.7 | - | - | 41.7 | |
Data & Marketing | 44.8 | - | - | 44.8 | |
BPO | 22.9 | - | - | 22.9 | |
Corporate and others | - | - | 1.5 | 1.5 | |
176.6 | 73.0 | 1.5 | 251.2 |
Q2 2021 Revenue by division
Q2 | Change Q2 2021 / 2020 | Change Q2 2021/2019 | ||||
in € millions | 2021 | 2020 | Reported | LFL(1) | LFL(2) | |
Software & Services | 71.4 | 64.6 | +10.6% | +9.7% | +0.7% | |
Flow | 20.7 | 18.0 | +14.8% | +14.7% | +0.9% | |
Data & Marketing | 24.8 | 19.6 | +26.9% | +26.9% | +11.7% | |
BPO | 11.2 | 11.6 | (3.2)% | (3.2)% | +3.7% | |
Corporate and others | 0.5 | 0.9 | (45.5)% | (45.5)% | (43.2)% | |
128.7 | 114.7 | +12.2% | +11.7% | +2.6% |
(1) At constant scope and exchange rates. Acquisitions and divestments had a positive impact of 0.2pp, exchange rates had a positive impact of 0.3pp due to the pound sterling.
(2) At constant scope and exchange rates. Exchange rates had virtually no impact. The €1.3 million hit from scope effects, or 1.1pp, was chiefly due to the sale of nearly all of the business activities of
Attachment
- Cegedim_Revenues_2Q2021_ENG
Source:
2021 GlobeNewswire, Inc., source