Cegedim SA · EURONEXT:ALCGM
Cegedim SA — Q3 2025 Earnings Presentation
23 slides from Cegedim SA's earnings presentation, Oct 23, 2025
Slide 1: Q3 2025 Revenue
Q3 2025 Revenue October 23. 2025
Slide 2: Disclaimer
Disclaimer 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 accurate. By th
Slide 3: Highlights Q3 2025
Highlights Q3 2025 9M 2025 €476.1m Highlights +0.1% reported +2.1% Like-for-Like • Like-for-Like growth: 9 months +2.1% / Q3 +0.5% 153.7m Q3 (2.0)% reported +0.5% Like-for-Like • Q3 best performers: cloud, RH, digitization and insurance • Workforce restructuring at the pharmacy Q2 business • Cegedim
Slide 4: Revenue growth on Q3 & 9 months
Revenue growth on Q3 & 9 months Q3 9 months 0.5% growth Like-for-Like 2.1% growth Like-for-Like +0.5% (2.4)% (0.1)% +2.1% (2.0)% 0.0% €156.8m €153.7m €475.8m €476.1m +€0.8m €(3.7)m €(0.2)m +€9.7m €(9.4)m €0.0m Like-for-Like Structure Currency Like-for-Like Structure Currency growth impact impact gro
Slide 5: Revenue by BU
Revenue by BU aa cegedim © Cegedim 2025
Slide 6: Q3 revenue by BU
Q3 revenue by BU Health and Provident Cegedim Insurance Business Services* Revenue = €40.4m Revenue = €43.4m (0.7)% rep. • (0.6)% LfL +6.1% rep. • +6.1% LfL €15.7m • +7.5% €23.5m • +8.2% €10.8m • +6.2% Cloud €14.5m • +6.8% €13.9m • (12.7)% & Support €5.4m • (5.0)% * HR and e-business Revenue = €9.9m
Slide 7: 9-months revenue by BU
9-months revenue by BU Health and Provident Cegedim Insurance Business Services* Revenue = €124.0m Revenue = €135.3m +4.4% rep. • +4.4% LfL +7.4% rep. • +7.4% LfL €46.8m • +5.4% €71.3m • +8.8% €32.1m • +7.9% Cloud €46.6m • +7.2% €31.2m • +1.1% & Support €17.4m • +2.5% * RH et e(business Revenue = €2
Slide 8: Revenue growth bridge by BU
Revenue growth bridge by BU Bridge Q3 by BU Bridge 9 months by BU Reported growth Reported growth (0.7)% +6.1% (1.7)% (17.8)% +27.6% +4.4% +7.4% +4.1% (17.0)% +8.5% €156.8m €(0.3)m +€2.5m €(0.5)m €(7.0)m €153.7m €475.8m €476.1m +€2.2m +€5.2m +€9.3m €3.6m €(20.0m +€2.2m Health and Provident Insurance
Slide 9: Revenue by division
Revenue by division © Cegedim 2025 9
Slide 10: Reported growth bridge by division
Reported growth bridge by division Bridge Q3 by division Bridge 9 months by division Reported growth Reported growth (5.4% +6.8% (1.7)% (10.7)% +27.6% (5.2% +7.5% +4.1% +1.5% +8.5% €156.8m €(4.1)m +€1.6m €(0.5)m €153.7m €475.8m €(11.9)m +€5.5m +€3.6m €476.1m €(2.3)m +€2.2m +€1.0m +€2.2m Software & S
Slide 11: Software & Services
€(11.9)m Software & Services 45.3% €215.8m reported of 9M 2025 revenue 9-months revenue (5.2)% Like-for-Like (1.0)% 9M 2025 €215.8m 9M 2025 Change by quarter (5.2)% reported By activity Revenue (1.0)% LfL 2025 / 2024 9M 9M % % €m 2025 2024 reported LfL €71.5m in million euros Q3 (5.4)% reported 0.0%
Slide 12: Flow
Flow 16.5% €78.7m +€5.5m reported of 9M 2025 revenue 9-months revenue +7.5% Like-for-Like +7.5% 9M 2025 €78.7m 9M 2025 by quarter +7.5% reported By activity Change +7.5% LfL Revenue 2025 / 2024 €25.3m 9M 9M % % €m Q3 +6.8% reported 2025 2024 reported LfL +7.0% LfL in million euros Total Flow 78.7 73
Slide 13: Data & Marketing
Data & Marketing 19.2% €91.1m +€3.6m reported of 9M 2025 revenue 9-months revenue +4.1% Like-for-Like +3.9% 9M 2025 €91.1m +4.1% reported 9M 2025 by quarter By activity Change +3.9% LfL Revenue 2025 / 2024 €27.7m 9M 9M % % T3 (1.7)% reported €m 2025 2024 reported LfL (2.3)% LfL in million euros Tota
Slide 14: BPO
BPO 13.1% €62.5m +€1.0m reported of 9M 2025 revenue 9-months revenue +1.5% Like-for-Like +1.5% 9M 2025 €62.5m +1.5% reported 9M 2025 by quarter +1.5% LfL By activity Change Revenue 2025 / 2024 €19.3m 9M 9M % % T3 (10.7)% reported 2025 2024 €m reported LfL (10.7)% LfL in million euros Total BPO 62.5
Slide 15: Cloud & Support
Cloud & Support 5.9% €28.0m +€2.2m reported of 9M 2025 revenue 9-months revenue +8.5% Like-for-Like +8.5% 9M 2025 €28.0m 9M 2025 +8.6% reported by quarter By activity +8.5% LfL Var Revenue €9.9m 2025 / 2024 T3 +27.6% reported +27.6% LfL 9M 9M % % €m in million euros 2025 2024 reported LfL T2 Total C
Slide 16: Outlook 2025
Outlook 2025 Revenue Adjusted (1) Operating Income Like-for-Like growth in a 2 % to Expected to 4% range increase Disclosure: Based on currently available information. The Group does not provide earnings estimates or forecasts. (1) “Adjusted operating income” is entirely comparable to the “recurring
Slide 17: Financial Agenda
Financial Agenda 2026 2026 2026 April 23 July 23 After the market closes 2026 After the market closes January 29 After the market closes 2026 Q1 2026 2026 H1 2026 Revenue Revenue September 24 Full Year 2025 March 26 June 12 H1 2026 Revenue After the market closes Earnings Shareholders’ Full Year 202
Slide 18: Q&A
a. i ma cegedim © Cegedim 2025 Q&A 18
Slide 19: Appendix Q3 2025 Revenue
Appendix Q3 2025 Revenue © Cegedim 2025 19
Slide 20: Revenue 2025 – by quarter
Revenue 2025 – by quarter in millions of euros Q1 Q2 Q3 Q4 Total Software & Services 72.4 72.0 71.5 215.9 Flow 27.6 25.8 25.3 78.7 FY 2025 Data & Marketing 29.9 33.5 27.7 91.1 BPO 21.1 22.1 19.3 62.5 Cloud & Support 10.3 7.8 9.9 28.0 Consolidated Group revenue 161.3 161.2 153.7 476.1 in millions of
Slide 21: Revenue 2025 – by division
Revenue 2025 – by division 9 months change 9M 2025 / 2024 in million euros 2025 2024 reported Like-for-Like(1)(2) Software & Services 215.8 227.7 (5.2)% (1.0)% Flow 78.7 73.2 +7.5% +7.5% Data & Marketing 91.1 87.5 +4.1% +3.9% BPO 62.5 61.5 +1.5% +1.5% Cloud & Support 28.0 25.8 +8.5% +8.5% Cegedim 47
Slide 22: Revenue 2025 – Geographies and currencies
Revenue 2025 – Geographies and currencies Geographic zone Currency as a % of consolidated revenue EMEA France Americas Euro GBP Autres ex. France Software & Services 87.0% 12.9% 0.1% 90.8% 7.2% 2.0% Flow 91.8% 8.2% 0.0% 94.2% 5.8% 0.0% Data & Marketing 97.2% 2.8% 0.0% 98.1% 0.0% 1.9% BPO 100.0% 0.0%
Slide 23: Thank you for your attention
Thank you for your attention For more information [email protected]