Cegedim Sa · EURONEXT:ALCGM
Cegedim Sa — H1 2023 Earnings Presentation
21 slides from Cegedim Sa's earnings presentation, Sep 20, 2023
Slide 1: First half 2023 Earnings
First half 2023 Earnings September 20th 2023
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains “forward-looking statements” Cette présentation contient des "déclarations within the meaning of the Private Securities Litigation prospectives" au sens de la loi « Private Securities Reform Act of 1995. Forward-looking statements are Litigation
Slide 3: Key figures – 1H 2023
Key figures – 1H 2023 Revenue Recurring operating EBITDA income(1) €301.0m €10.7m €48.8m +12.5% +12.1% +57.0% +€3.9m +17.2% +€7.2m reported LFL(1) Vs 1H 2022 Vs 1H 2022 Vs 1H 2022 Net debt(1)(2) Headcount €166m 6 469 +7 % +€11m +9% +527 Vs 1H 2022 Vs 1H 2022 (1) Alternative performance indicator (2)
Slide 4: Breakdown of business by activity
Breakdown of business by activity Software & services Flow 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 Germany Smart RX – Solution
Slide 5: Software & Services
Softwares 54% €161.5m +10.9% €(2.0)m +73.5% & Services of 1H 2023 Group revenue Revenue +€15.9m Recurring Operating Income Recurring Var. 1H 2023 / Var. 1H 2023 / Revenue Operating 1H 2022 1H 2022 Income 1H 2023 1H 2022 €m % 1H 2023 1H 2022 €m % In € million Total Softwares & Services 161.5 145.6 15
Slide 6: Flow
16% €48.2m €5.6m Flux of 1H 2023 Group revenue Revenue +6.7 % +€3.0m (0.7)% Recurring Operating Income Var. 1H 2023 / Résultat Opérationnel Var. 1H 2023 / Revenue 1H 2022 Courant 1H 2022 1H 2023 1H 2022 €m % 1H 2023 1H 2022 €m % In € million Total Flow 48.2 45.2 3.0 6.7% e-business 29.3 27.2 2.0 7.4
Slide 7: Data & marketing
Data & 18% €54.9m +9.9% €6.6m +8.2% marketing of 1H 2023 Group revenue Revenue +€4.9m Recurring Operating Income Var. 1H 2023 / Recurring Operating Var. 1H 2023 / Revenue 1H 2022 Income 1H 2022 1H 2023 1H 2022 €m % 1H 2023 1H 2022 €m % In € million Total Data & 54.9 50.0 4.9 9.9% Marketing Data 28.9
Slide 8: BPO
11% €32.8m €1.4m BPO of 1H 2023 Group revenue Revenue +29.3% +€7.4m +34.4% Recurring Operating Income Var. 1H 2023 / Recurring Operating Var. 1H 2023 / Revenue 1H 2022 Income 1H 2022 1H 2023 1H 2022 €m % 1H 2023 1H 2022 €m % In € million Total BPO 32.8 25.4 7.4 29.3% BPO Insurance 22.2 15.6 6.5 41.7
Slide 9: 1H 2023 - P&L
1H 2023 - P&L In € million 1H 2023 1H 2022 Var % Var. €m Revenue 301.0 267.6 12.5% 33.4 Purchase used (14.7) (13.5) (9.1)% (1.2) External expenses (66.4) (58.2) (14.0)% (8.2) Employee costs (163.6) (149.4) (9.5)% (14.2) Others (7.5) (4.7) (57.5)% (2.7) EBITDA 48.8 41.7 17.2% 7.2 Margin EBITDA 16.2%
Slide 10: Payroll costs - 1H 2023
Payroll costs - 1H 2023 Payroll costs Headcount Offshore +9.5% + 237 6 469 +€14.2m 5 942 + 290 Offshore €163.6m 26,9% €149.4m +8.9% +527 Inshore 73,1% juin-22 Offshore Inshore juin-23 1H 2022 1H 2023 © Cegedim 2023 10
Slide 11: R&D Investment
R&D Investment Capitalized R&D D&A* Impact on recurring +9.5% operating income +3.8% +€3.3m Autres +€1.1m €28.7m IFRS16 Capitalized R&D +€1.1m €27.6m €34.8m €38.1m R&D D&A of R&D €(1.5)m 18,2 19,7 impact on recurring operating income €(0.4)m 8,4 9,1 8,2 9,4 1H 2022 1H 2023 1H 2022 S1 2022 1H S1 2023
Slide 12: Free cash flow
Free cash flow In € million 1H 2023 1H 2022 Net Debt Consolidated net profit (9.2) (6.1) Depreciation and amortization expenses and provisions 38.0 35.1 Cost of net financial debt 5.6 4.4 Share of earnings from equity method companies ; tax expenses 11.5 4.1 €155m June Operating Cash flow before cos
Slide 13: Financing
Financing Principal financing Debt Covenant Status Limit Status Amount Maturity Euro PP - €135.0m October 2025 Leverage 1.37 < 2.50 (Debt/Ebitda) Shareholder lan - €45.1m November 2025 RCF Undrawn €65.0m October 2024 Interest cover 15.78 > 4.50 (Ebitda/ interest debt) Overdraft Unused €24.0m - Cash
Slide 14: Sound financial structure
Sound financial structure Assets Shareholders equity & liabilities In € million 30.06.2023 31.12.2022 In € million 30.06.2023 31.12.2022 Goodwill 199.6 198.8 Shareholder equity 296.7 304.1 Intangible assets 197.6 188.1 Tangible assets 134.8 131.0 Long-term financial debt 186.8 188.9 Financial assets
Slide 15: CSR - Governance
CSR - Governance Roadmap 2022-2025 - Formalize : Organisation - Corpus of sustainable development policies Published since 2012 - CSR Clubs and CSR Committee - Deploy : Steered by the General Management / - Objectives associated with sustainable development policies Finance - Regulatory obligations:
Slide 16: CSR Challenge
CSR Challenge © Cegedim 2023 16
Slide 17: CSR – External Rating
CSR – External Rating Provider Rating Silver medal Ecovadis 70% percentile top 19% of the evaluated companies Gaïa 59 / 100 Vigeo Eiris +3 52 / 100 CDP D Rate D (Incomplete data) Score carbone Axylia A Rate A Label ISO 26000 RSE On-going 2H 2023 © Cegedim 2023 17
Slide 18: Outlook
Outlook Revenue Recurring Operating Income > 10% Like for Like Increase Vs 2022 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 forecasts. © Cegedim 2023 18
Slide 19: 2023 – Financial Agenda
2023 – Financial Agenda October 26 After the market closes Revenue 3rd Quarter 2023 © Cegedim 2023 19
Slide 20: Q&A session
Q&A session © Cegedim 2023 20
Slide 21: Thank you for your attention
Thank you for your attention For any additional information [email protected]