Cegedim Sa · EURONEXT:ALCGM
Cegedim Sa — Q2 2017 Earnings Presentation
26 slides from Cegedim Sa's earnings presentation, July 2017
Slide 1: Second Quarter 2017 Revenue
ANN, Second Quarter HAUSE
Slide 2: © Cegedim 2017
© Cegedim 2017
Slide 3: Agenda and Safe Harbor Statement
AGENDA 01 SAFE HARBOR STATEMENT ---------- This presentation contains forward- looking statements (made pursuant Cegedim Strategy to the safe harbour provisions of the Private Securities Litigation Reform Update Act of 1995). By their nature, forward- looking statements involve risk and uncertainty.
Slide 4: Cegedim Strategy: Update
» Cegedim Strategy: Update <<
Slide 5: Our Playbook
Our Playbook │5│ © Cegedim 2017
Slide 6: Our Playbook: Portfolio Management
Our Playbook: Portfolio Management │6│ © Cegedim 2017
Slide 7: Our Playbook: Divestments and Acquisitions
Divestments April 2015 » CRM and Strategic Data Our » Cegelease 2017 Playbook: Proceed used to pay back debt Portfolio Management Acquisitions » Activus (Cegedim Insurance Solutions) Jul.15 » Nightingale (CHS) Oct.15 » Futuramedia (Digital) Nov.16 » BBM (CHS) Feb.17 » Adaptive apps (CHS) May 3 │7│ ©
Slide 8: Cegelease Activity
Offering leasing contracts chiefly to pharmacies and healthcare professionals in France The company has evolved from a reseller of products developed exclusively by the Group into a Cegelease broker offering multi-solution financing Activity contracts to a wide variety of clients Today, Cegedim acco
Slide 9: Cegelease Disposal
As part of the business model transformation plan Cegedim is contemplating divestment of its Cegelease and Eurofarmat subsidiaries These subsidiaries - Operate principally in the financial domain, Cegelease - Are highly valued, Disposal - Require additional resources to continue pursuing and acceler
Slide 10: Cegelease Disposal Timeline
If the Group receives satisfactory offers and is able to obtain the necessary approvals, it plans to close the deal in the second half of 2017 Cegelease Disposal A successful sale would give the Group a portfolio of businesses that fit well together and generate strong synergies. Cegedim is not plan
Slide 11: 4 Growth Engines
4 Growth Engines │11│ © Cegedim 2017
Slide 12: Clear vision for our future and transformation
We have a clear vision for our future and are strongly positioned in key Cegedim’s global market Transformation Our playbook is underway and starting to deliver benefits 2017 is a turning point: sustainable future growth in revenue and earnings │12│ © Cegedim 2017
Slide 13: Financial Performance Q2-2017 Revenue
Financial Performance Q2-2017 Revenue
Slide 14: H1-17 Key Take Away
Group Revenue +6.4% All of the divisions +3.6% helped grow the Group’s like-for-like €230.6m growth in Q2 and H1 +7.0% reported +6.4% L-f-L H1 2016 H1 2017 H1-17 Disposal Key Take Contribution to FY 16 Continue Cegedim’s consolidated business model Away Revenue €11.6m/ 2.6% transformation and refocu
Slide 15: Quarterly Organic Growth
Group Revenue +6.9% +6.4% +4.8% +5.4% +4.9% +2.4% Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Quarterly Health Insurance, HR & e-services Revenue Organic +12.5% +13.0% Growth +8.7% +10.3% +9.5% +7.3% Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Healthcare Professionals Revenue +0.5% +3.8% (0.7)% (0.9)% (4.2)% │15│ (
Slide 16: Half Year Organic Growth
Group Revenue +6.4% +4.4% +3.6% FY 16 … H1 16 H1 17 Half year Health Insurance, HR & e-services Revenue Organic Growth +10.5% +9.8% +9.6% FY16 … H1 16 H1 17 Healthcare Professionals Revenue +1.4% │16│ (2.8)% (3.0)% FY 16 … H1 16 H1 17 © Cegedim 2017
Slide 17: Revenue Reported Growth
+6.0% (1.1)% +2.1% €116.9m €109.3m +7.0% reported Revenue Q2 16 L-f-L Forex Structure Q2 17 Reported Q2 Revenue growth growth +6.4% (1.2)% +1.8% €230.6m €215.5m +7.0% reported H1 16 L-f-L Forex Structure H1 17 │17│ H1 Revenue growth © Cegedim 2017
Slide 18: Health Insurance, HR & e-services
+3.1% €140.3m +9.8% €124.6m (0.3)% 60.8% +12.6% reported Health H1-16 L-f-L Forex Structure H1-17 Insurance, HR % of H1-17 Consolidated revenue H1 Revenue growth & e-services Revenue +12.6% €140.3m • Continued double-digit growth at Cegedim e-business and Cegedim SRH €124.5m • Double-digit growth at
Slide 19: Healthcare Professionals Revenue
+1.4% (2.5)% 38.3% €89.4m +0.0% €88.4m (1.1)% reported Healthcare H1-16 L-f-L Forex Structure H1-17 Professionals % of H1-17 Consolidated revenue H1 Revenue growth Revenue • Q2 growth more than offset the decline in Q1 • Double-digit Q2 growth from Pulse, driven by RCM , a BPO-type business (1.1)% €
Slide 20: BPO Development
4,251 4,062 3,886 +176 +189 3,655 3,432 +231 +223 Jun.15 Dec. 15 Jun. 16 Dec. 16 Jun.17 BPO Net hiring Workforce on long term contract Development €16.4m RCM Pulse +33% SRH BPO +31% €12.4m BPO Insurance €9.4m │20│ H1 15 H1 16 H1 17 BPO Revenue Trend © Cegedim 2017
Slide 21: FY 2017 Outlook Reiterated
FY 2017 Outlook » Reiterated «
Slide 22: 2017 Outlook Reiterated
The business model transformation is well under way • Growth momentum is expected to continue and lead to improving profitability in the future • We expect to see the full impact of the Business model transformation in 2018 H1 revenue growth was stronger than our current guidance • We do not expect
Slide 23: Potential impact of Brexit
12.7% UK revenue part of consolidated Group revenue Potential 14.8% impact of UK EBIT part of consolidated Brexit Group EBIT • Cegedim operates in the UK in local currency, as it does in all the countries where it operates • No major European health program at work in the UK Thus, the impact on the
Slide 24: Shareholder Structure as of Jun. 2017
Others 4% USA France Shareholder BPI 15.0% 29% 34% Structure as of Jun. 2017 Free float UK 33% 32.2% FCB 52.7% Source: IPREO Data on Sept. 26, 2016 Cegedim 0.2% │24│ © Cegedim 2017
Slide 25: Events
21 22 September September Events HY-17 Earnings Analyst 2017 Meeting 26 - October December Q3-17 Revenue Investor Day │25│ © Cegedim 2017
Slide 26: Jan Eryk Umiastowski, Head of Investor Relations
Jan Eryk Umiastowski Chief Investment Officer – Head of Investor Relations [email protected] Tel: 00 33 1 49 09 33 36 – Mob: 00 33 6 73 25 96 34 © Cegedim 2017