Cegedim Sa · EURONEXT:ALCGM
Cegedim Sa — H1 2024 Earnings Presentation
18 slides from Cegedim Sa's earnings presentation, Sep 26, 2024
Slide 1: H1 2024 Earnings
H1 2024 Earnings September 26, 2024
Slide 2: Avertissement
Avertissement This presentation contains “forward-looking Cette présentation contient des "déclarations statements” within the meaning of the Private prospectives" au sens de la loi « Private Securities Securities Litigation Reform Act of 1995, Forward- Litigation Reform Act » de 1995, Les déclarati
Slide 3: The big picture
The big picture Recurring Revenue EBITDA Operating 319.0 M€ 52.2 M€ + 18.0 M€ Income +6.0% +4.6% Reported Lfl 10.3 M€ +6.9% +3.4 M€ -3,4% -0.4 M€ Vs H1 2023 Vs H1 2023 Vs H1 2023 Excluding Segur and Net debt Headcount R&D impact Excl. IFRS 16 6 769 the ROI more 213.9 M€ than doubles +4.6 % + 300 +28
Slide 4: H1 2024 P&L
H1 2024 P&L In € miillion H1 2024 H1 2023 Var % Var. M€ Revenue 319,0 301,0 6,0% 18,0 Purchase used -14,0 -14,7 -4,7% 0,7 External expenses -72,7 -66,4 9,5% -6,3 Employee costs -173,2 -163,6 5,9% -9,6 Others -6,8 -7,5 -8,5% 0,6 EBITDA 52,2 48,8 6,9% 3,4 Margin EBITDA 16,4% 16,2% D&A -41,9 -38,1 9,8%
Slide 5: Payroll costs
Payroll costs Payroll costs Headcount Offshore +4.6% +5.9% +300 +9.6 M€ Offshore 27,9% 173,2 M€ 163,6 M€ Inshore 72,1% H1 2023 H1 2024 © Cegedim 2024 5
Slide 6: R&D Investment
R&D Investment Impact on recurring operating Capitalized R&D D&A* income -1.9 % +9.8 % -0.6 M€ +3.7 M€ Others Capitalized R&D -0.6 M€ 38.1 M€ IFRS 16 41.9 M€ D&A of R&D - 3.0 M€ 28,7 M€ R&D 28,1 M€ Impact on recurring 22,7 -3.6 M€ 19,7 operating income 9,1 8,7 9,4 10,4 H1 2023 H1 2024 H1 2023 H1 202
Slide 7: Free cash flow
Free cash flow In € million H1 2024 H1 2023 Net Debt Consolidated net profit -0,1 -9,2 June 2023 Depreciation and amortization expenses and provisions +40,5 +38,0 Cost of net financial debt +5,0 +5,6 Share of earnings from equity method companies ; tax expenses +1,6 +11,5 166.3 M€ Operating Cash flo
Slide 8: Financing
Financing Principal financing as of June 30, 2024 Principal financing as of July 31, 2024 Used Amount Maturity Used Amount Maturity Euro PP 135.0 M€ 135.0 M€ October 2025 Syndicated loan 180.0 M€ 180.0 M€ 2031 Shareholder loan 45.1 M€ 45.1 M€ November 2025 Shareholder loan 45.1 M€ 45.1 M€ 2025 RCF 5
Slide 9: Balance sheet
Balance sheet Assets Shareholders equity & liabilities In € million 30.06.2024 31.12.2023 In € million 30.06.2024 31.12.2023 Goodwill 235.0 199.8 Shareholder equity 296.2 294.6 Intangible assets 207.5 194.2 Long-term financial Tangible assets 142.1 138.6 187.7 188.5 debt Financial assets 23.5 20.6 O
Slide 10: H1 2023 Reclassification table
H1 2023 Reclassification table As of January 1, 2024, our Cegedim Outsourcing and Audiprint subsidiaries—which were previously housed in the Software & Services division—as well as BSV—formerly of the Flow division—have been moved to the Cloud & Support division in order to capitalize on operating s
Slide 11: Software & Services €152.1m
Software & Services Share of 1H 2024 52% 48% €152.1m +1.0% +€1.5m group revenue Revenue Recurring Var. 2024 / Revenue Var. 2024 / 2023 Operating 2023 Income H1 H1 H1 H1 M€ % M€ % In € million 2024 2023 2024 2023 Total Software et Services 152.1 150.6 +1.5 +1.0 % -1.4 -2.5 +1.1 +42.4% Cegedim Santé 3
Slide 12: Flow
€49.5m 85% Share of 1H 2024 +5.8% Flow group revenue 15% Revenue +€2.7m Recurring Revenue Var. 2024 / 2023 Operating Var. 2024 / 2023 Income H1 H1 H1 H1 M€ % M€ % In € million 2024 2023 2024 2023 Total Flow 49,5 46.8 +2.7 +5.8% e-business 30.0 27.8 +2.2 +7.6% 5.9 5.2 +0.7 +12.8 % Third-party payment
Slide 13: Data & Marketing
Data & Marketing Share of 1H 2024 group revenue 19% 81% €59.3m +8.0% +€4.4m Revenue Recurring Revenue Var. 2024 / 2023 Operating Var. 2024 / 2023 Income H1 H1 H1 H1 M€ % M€ % In € million 2024 2023 2024 2023 Total Data & 59.3 54.9 +4.4 +8.0% Marketing Data 28.1 28.9 -0.8 -2.8% 5.3 6.6 -2.0 -19.8 % M
Slide 14: BPO
€39.9m 12% Share of 1H 2024 +21.6% BPO group revenue 88% Revenue +€7.1m Recurring Revenue Var. 2024 / 2023 Operating Var. 2024 / 2023 Income H1 H1 H1 H1 M€ % M€ % In € million 2024 2023 2024 2023 Total BPO 39.9 32.8 +7.1 +21.6% Insurance BPO 28.7 22.2 +6.5 +29.5% 1.9 1.4 +0.5 +36.0 % Business Servic
Slide 15: Cloud & Support
6% Cloud & Support Share of 1H 2024 group revenue 94% €18.1m +14.5% +€2.3m Revenue Recurring Revenue Var. 2024 / 2023 Operating Var. 2024 / 2023 Income H1 H1 H1 H1 M€ % M€ % In € million 2024 2023 2024 2023 Cloud & Support 18.1 15.8 +2.3 +14.5% -1.3 0.0 -1.3 na – Strong growth in external sales for
Slide 16: Outlook
Outlook Outlook 2024 2024 Revenue Recurring operating income Growth range 5 to 8% Increasing like for like Disclosure: Based on currently available information. The Group does not provide earnings estimates or forecasts. © Cegedim 2024 16
Slide 17: 2024 – Financial agenda
2024 – Financial agenda September 27 October 24 After the market closes SFAF meeting Revenue 3rd quarter 2024 2024 © Cegedim 2024 17
Slide 18: Thank you for your attention
Thank you for your attention For any additional information [email protected]