Cegedim SA · EURONEXT:ALCGM
Cegedim SA — FY2022 Earnings Presentation
37 slides from Cegedim SA's earnings presentation, Mar 24, 2023
Slide 1: FY 2022 Earnings
FY 2022 Earnings March 24, 2022
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to be
Slide 3: CEGEDIM FY 2022 Earnings
CEGEDIM FY Year Earnings 2022 Jean-Claude Labrune Chairman & CEO © Cegedim 2023 3
Slide 4: Business Group review
Business Group review Laurent Labrune Managing Director © Cegedim 2023 4
Slide 5: Key Figures 2022
Key Figures 2022 Revenue Net Debt €555.2 m €137m +5.8% +5.0% Reported Lfl (17)% €(28)m Recurring Operating Employees Income 6 073 €25.7m (36)% €(14.2)m +8% +430 © Cegedim 2023 5
Slide 6: Cegedim: A strong European presence
Cegedim: A strong European presence © Cegedim 2023 6
Slide 7: Leading integrated player in healthcare, with a unique ecosystem
Leading integrated player in healthcare, with an unique ecosystem © Cegedim 2023 7
Slide 8: Breakdown of business by activity
Breakdown of business by activity Software & services 55% 16% +3,4% +3.4% Flow +7.5% Cegedim Santé – solutions for HCP in France including Maiia HCP booking platform CHS – Solutions for HCP in Europe Cegedim e-business - Digitalization of contract to pay process. All sectors in France, the UK, and G
Slide 9: SEGUR de la Santé
SEGUR de la Santé 28/04/2023 => Postponed 09/20/2023* End of Wave 1 program Physicians Deployment deadline postponed Wave 1 Deployment Pharmacists Wave 1 100% of our softwares LGC / LGO Prepayment of 30% on order certified Remaining 70% on deployment/usage Order signature rate nearly 90% • €
Slide 10: KPI 2022 Cegedim Santé
55% Cegedim Santé KPI 2022 +3.4% MARKET PHYSICIAN MARKET PARAMEDICQS +3.500 PS (+13%) +6.600 PS (+15%) PMS Appoint./ TLC PMS/Appoint. PARAMED Physicians (incl. Officines) + 1.900 PS + 800 PS 4 M patients accounts Maiia Connect 31 M appoint. 142 000 3 600 users 2.2% not fulfilled tele consultations 1
Slide 11: Cegedim Santé & Smart RX
55% Cegedim Santé & Smart RX +3.4% 2022 2023 - +19% in H2 2022 - Double-digit growth - Significant recruitment efforts to boost sales and accelerate progress on the product roadmap - Ségur health plan: Finish roll-out of the first ‘wave’ for doctors, prepare for first ‘wave’ for paramedicals. - Majo
Slide 12: International activities
55% International activities +3.4% 2022 2023 – UK doctors (InPS): – UK doctors: – RFP delayed in England – Growth in Scotland – Product development continues (NHS – Start of production for Ministry Of Defence regulations) (MOD) – Solid positions in Scotland, Wales, and – Return to growth and cost co
Slide 13: Other software businesses, France: Cegedim Insurance Solutions
55% Other software businesses, France +3.4% Cegedim Insurance Solutions 2022 2023 - 23 million beneficiaries in France managed using our - Business stable to slightly up solutions - Software installation projects for major - Beyond (Next Gen): 3 roll-outs underway, incl. first 2 players (MGEN, MNH,
Slide 14: Other software businesses, France
55% Other software businesses, France +3.4% 2022 2023 - 55 new clients in 2022 - Double-digit growth - 575k payslips managed (+61k vs 2021) - Continue to win over large clients - More than 1,000 employees at 11 sites - Large start-up projects lay the groundwork - Expanded range of functions covered
Slide 15: Flow
16% Flow +7.5% Cegedim e-business (SY) - 2022 Cegedim e-business (SY) - 2023 - Double-digit growth (France and Inter). - New budget / partner platform bills: Pilot programs - Order intake growth (> 2021). to start in January 2024 - 177 new clients - ISO 27001, SecNumCloud certifications - On track t
Slide 16: Data & Marketing
19% Data & Marketing +8.6% 2022 2023 - Market experiencing strong growth in Europe - First clients in Germany RWD secondary use value: from €25bn in 2020 to €43bn in 2028 according to European Commission - THIN expanded to include RWD from hospitals in - THIN: #1 European RWD outpatient database Fra
Slide 17: BPO
10% BPO +11.9% 2022 2023 - New contracts put Cegedim in a leadership - Allianz, on track for April 1 position - Heavy investment to get Allianz contract up and running - High-profile clients in overflow - Add functionalities for group personal protection - Proven quality (SLA) policies - Automation
Slide 18: Cegedim is confident in its future growth potential
Cegedim is confident in its future growth potential Our markets have solid growth prospects Our well-positioned businesses despite short-term uncertainties are expanding margins We are driving innovation We are forming strong partnerships © Cegedim 2023 18
Slide 19: Finance
Finance Pierre Marucchi Managing Director © Cegedim 2023 19
Slide 20: The big picture
The big picture Revenue Exceptional €555.2 m EBITDA items + €30.5 m €96.2 m €0.8 m €3.8 m +5.8% +5.0% Reported Lfl (8)% €(8.5)m 2022 2021 Operating FCF Net debt Net Profit Excl. IFRS 16 €86.5 m €137.2 m (17)% €12.1 m (9,9)% €(9.5)m €(28)m (54)% €(14.2) m © Cegedim 2023 20
Slide 21: Acquisitions 2022
Acquisitions 2022 Mesdocteurs | May 2022 Laponi | June 2022 A leader in telehealth and An SaaS innovative solution for a pioneer in 24/7 telemedicine managing absenteeism in real time SEDIA | July 2022 Clinityx | July 2022 Tracking software for medical Innovative data valorization instrumentation si
Slide 22: FY 2022 P&L
FY 2022 P&L In € million 2022 2021 Var % Var. €m Revenue 555.2 524.7 5.8 % 30.5 Purchase used (26.6) (26.7) (0.5) % 0.1 External expenses (119.9) (107.4) 11.6 % (12.5) Employee costs (303.6) (278.8) 8.9 % (24.7) Others (9.0) (7.1) 27.0 % (1.9) EBITDA 96.2 104.7 (8.1) % (8.5) Margin EBITDA 17.3% 20.0
Slide 23: Payroll costs
Payroll costs Payroll costs Headcount Offshore +8.9% + 149 6 073 +€24.7m 5 643 + 281 OFFSHORE €303.6m Offshore €278.8m 26,3% +7.6% +430 Inshore 73,7% 2021 Dec 2021 Offshore Inshore Dec 2022 2022 © Cegedim 2023 23
Slide 24: R&D Investment
R&D Investistment Capitalized R&D D&A* Impact on recurring +8.8% Others operating income +10.2% +€5.7m IFRS16 R&D +€5.0m Capitalized R&D €5.0m 64.8 M€ 70.6 M€ €54.0m €49.0m D&A of R&D €(4.3)m 33,3 37,6 impact on €0.7m recurring operating income 16,5 17,2 15 15,7 2021 2022 2021 2022 *Excluding non re
Slide 25: Free cash flow
Free cash flow In € million 2022 2021 Consolidated net profit 12.1 26.3 Net Debt Depreciation and amortization expenses and provisions 83.1 64.4 Cost of net financial debt Share of earnings from equity method companies ; tax expenses 8.8 3.3 10.4 4.0 2021 Operating Cash flow before cost of net finan
Slide 26: Financing
Financing Principal financing Debt Covenant Status Limit Status Amount Maturity Euro PP - €135.0m October 2025 Leverage 1.09 < 2.50 (Debt/Ebitda) Shareholder lan - €45.1m November 2025 RCF Undrawn €65.0m October 2024 Interest cover 14.68 > 4.50 (Ebitda/ interest debt) Overdraft Unused €24.0m - Cash
Slide 27: Sound financial structure
Sound financial structure Assets Shareholders equity & liabilities In € million 2022 2021 In € million 2022 2021 Goodwill 198.8 187.1 Shareholder equity 304.1 232.4 Intangible assets 188.1 179.9 Tangible assets 131.0 121.7 Long-term financial debt 188.9 186.6 Financial assets 20.7 21.3 Other non-cur
Slide 28: Software & services
Software 55% €302.0m +3.4% €(4.9)m €(17.7)m & services of 2022 Group revenue Revenue +€10m€ Recurring Operating Income Recurring Var. 2022 / Var. 2022 / Revenue Operating 2021 2021 Income 2022 2021 €m % 2022 2021 €m % In € million Total Softwares et Services 302.0 292.0 10.0 3.4% (4.9) 12.8 (17.7) (
Slide 29: Flow
16% €90.6m €13.1m +17.6 % Flow of 2022 Groupe revenue Revenue +7.5 % +€6.4m Recurring Operating Income Recurring Revenue Var. 2022 / 2021 Operating Var. 2022 / 2021 Income 2022 2021 €m % 2022 2021 €m % In € million Total Flow 90.6 84.2 +6.4 +7.5% e-business 53.9 48.7 +5.2 +10.6% 13.1 11.1 +2.0 +17.6
Slide 30: Data & marketing
Data & 19% €106.9m +8.6% €17.4m +22.9% marketing of 2022 Groupe revenue Revenue +€8.5m Recurring Operating Income Recurring Revenue Var. 2022 / 2021 Operating Var. 2022 / 2021 Income 2022 2021 €m % 2022 2021 €m % In € million Total Data & 106.9 98.4 +8.5 +8.6% Marketing Data 61.4 56.8 +4.5 +7.9% 17.
Slide 31: BPO
10% €53.0m +11.9% €3.0m +20.7% BPO of 2022 Groupe Revenue Revenue +€5.7m Recurring Operating Income Recurring Revenue Var. 2022 / 2021 Operating Var. 2022 / 2021 Income 2022 2021 €m % 2022 2021 €m % In € million Total BPO 53.0 47.3 +5.7 11.9% BPO Insurance 32.1 29.2 +2.9 10.1% 3.0 2.5 +0.5 +20.7% BP
Slide 32: CSR Challenge
CSR Challenge 2022 - External Rating - Program Green IT - Energy sobriety plan - Taxonomie alligned activities 2023 - Complete Carbon footprint assesment – Sustainable net zero path - Labeling ISO 26000 RSE engaged Social responsibility - Certifications ISO 50001- Energy Management and ISO 14001- En
Slide 33: CSR – External Rating
CSR – External Rating Provider Rating Silver medal Ecovadis 70% percentile top 19% of the evaluated companies Gaïa Bronze medal Vigeo Eiris 52/100 +3 CDP D Note D (Incomplete data) Score carbone Axylia A Rate A Label Engagé RSE A venir (note sur 1000) © Cegedim 2023 33
Slide 34: Outlook 2023
Outlook 2023 Revenue Recurring Operating Income expects 2023 like- for-like growth to be Increase around 10% Disclosure: Based on currently available information. The Group does not expect to make any significant acquisitions in 2023. And lastly, the Group does not provide earnings estimates or fore
Slide 35: 2023 Financial agenda
2023 Financial agenda Avril 27 June 16 July 27 September 20 After the market closes After the market closes After the market closes Q1 Shareholder’s H1 H1 Revenue meeting Earnings Revenues 2023 2023 2023 2023 © Cegedim 2023 35
Slide 36: Q&A session
Q&A session Jean-Claude Laurent Pierre Labrune Labrune Marucchi © Cegedim 2023 36
Slide 37: Thank you for your attention
Thank you for your attention For any additional information: [email protected]