Cegedim off to a dynamic start in 2023

Quarterly financial information as of March 31, 2023
IFRS - Regulated information - Not audited

• Q1 2023 revenues grew 12.9%
• Cegedim Santé: growth picking up speed

Boulogne-Billancourt, France, April 27, 2023, after the market close

Revenue

(1)   At constant scope and exchange rates.
(2)   The positive currency impact of 0.4% was mainly due to the pound sterling. The positive scope effect of 1.1% was attributable to the first-time consolidation in Cegedim’s accounts of new acquisitions Kobus Tech, Mesdocteurs, Laponi, and Clinityx.

Cegedim generated consolidated Q1 2023 revenues of €145.9 million, an increase of 12.9% as reported and 12.2% like for like⁽¹⁾ compared with the same period in 2022. All divisions contributed to the growth. Divisional growth rates ranged from 9.5% to 17.8%, confirming the good sales momentum seen in previous quarters.

Analysis of business trends by division

• Software & Services

Cegedim Santé picked up its pace of growth to 40% compared with the first quarter of 2022. Ségur Act-related roll-outs generated €2.8 million in first-quarter revenues and acquisitions, €1.0 million. Other French activities grew sales by 6.2%, buoyed by HR activities and other services. International businesses returned to growth, particularly in the doctor and insurance segments in the UK.

• Flow

The process digitalization and digital data flow business grew by 9.5%. Both French and international activities contributed to the growth.

Third-party payer systems in France had an excellent first quarter, up nearly 10%, owing to strong invoice volumes in pharmacies and rising volumes in the hospital segment.

• Data & Marketing

Most of the growth in Data activities came from French sales. The positive scope effect of +2.2% was attributable to the first-time consolidation of Clinityx.

Advertising in pharmacies had a promising start to the year, growing by double digits.

• BPO

BPO operations continued to post double-digit growth over the first quarter, driven equally by services aimed at health and personal protection insurance companies, and by those designed for clients’ HR departments.

Highlights

Apart from the items cited below, to the best of the company’s knowledge, there were no events or changes during Q1 2023 that would materially alter the Group’s financial situation.

• War in Ukraine

The Group does not do business in Russia or Ukraine and has no assets exposed to those countries.

Significant transactions and events post March 31, 2023

To the best of the company’s knowledge, there were no post-closing events or changes after March 31, 2023, that would materially alter the Group’s financial situation.

Outlook

Based on Q1 2023 revenues up 12.2% like for like⁽¹⁾, and despite the public health, economic, geopolitical, and monetary uncertainty facing the world, the Group is confident it can grow full-year revenues by at least 10% like for like⁽¹⁾.

The Group does not expect to make any significant acquisitions in 2023.

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(1) At constant scope and exchange rates.

The Audit Committee met on April 26, 2023.

The Board of Directors, chaired by Jean-Claude Labrune, met on April 27, 2023.

2023 financial calendar

Financial calendar: https://www.cegedim.fr/finance/agenda/Pages/default.aspx

Annexes

Breakdown of revenue by quarter and division

• Year 2023

• Year 2022

Breakdown of revenue by geographic zone, currency, and division at March 31, 2023

Attachment

• Cegedim_CP_1Q2023_EN