EQS-News: CompuGroup Medical with solid first quarter against strong prior year

08.05.24 07:07 Uhr

Werte in diesem Artikel

EQS-News: CompuGroup Medical SE & Co. KGaA / Key word(s): Quarter Results/Quarterly / Interim Statement
CompuGroup Medical with solid first quarter against strong prior year

08.05.2024 / 07:07 CET/CEST
The issuer is solely responsible for the content of this announcement.


CompuGroup Medical with solid first quarter against strong prior year

  • Revenues down by 2%, organic growth of 3% adjusted for TI one-offs
  • Recurring revenue share increases to 75%
  • Advancing digitization in German and French healthcare
  • Continuing revenue conversion of hospital order backlog
  • Leverage reduced to 2.6x

 Koblenz - At CompuGroup Medical SE & Co. KGaA (CGM), the first quarter of the year was marked by the accelerating digitization of the European healthcare sector with increasing digital exchange of documents within two of CGM’s major markets. In Germany, the number of e-prescriptions has increased strongly post becoming mandatory in January 2024. 113 million e-prescriptions were redeemed in the first quarter. More than 30% of all German e-prescriptions were issued in CGM’s ambulatory information systems. In France, the number of digital health documents per month increased by more than 160% within less than a year after the rollout of the first wave of Segur, the government initiative for the digitization of ambulatory healthcare. 41% of the documents created in March 2024 were processed within the ambulatory information systems of CGM France. In the US, the team is set for the second wave of the rollout of the reimbursement & clearinghouse solution eMEDIX. In the hospital business, CGM continues to see high interest for its CGM Clinical software, supported by the continuing rollout of the order backlog for projects relating to the Hospital Future Act.

CEO Michael Rauch says: “Finally we are seeing a meaningful increase in traffic of electronic healthcare documents in our markets. We have made good progress in the first quarter, supporting our customers on their path of increasing digitization, enabling a fully digital patient journey.”

Group revenues were down by 2% compared to the prior year, which was influenced by one-off effects in the Telematics Infrastructure. Excluding the prior year TI connector hardware exchange, organic revenue growth was positive with 3%. Recurring revenues grew by 7% to EUR 213 million in the first quarter of 2024, accounting for 75% of total revenue. Adjusted EBITDA increased by 1% to EUR 61 million and adjusted EPS increased to EUR 0.47, both supported by the divestiture of CGM´s Turkish business activities. Free cash flow stood at EUR 59 million after the first three months of the year. And leverage was reduced from 2.8x LTM adjusted EBITDA in March 2023 to 2.6x in March 2024.

In the AIS segment (now including the former CHS segment), revenues in the first quarter of 2024 decreased to EUR 172 million, down 6% compared to the prior year quarter, due to one-off effects related to the TI hardware connector exchange in the first quarter of 2023. Adjusted for the TI hardware connector exchange, organic revenues grew by 3%. Recurring revenues in the AIS segment increased by 5%, representing 76% of segment revenues.

Revenues in the HIS segment grew by 7% to EUR 78 million. Organically, revenues increased by 6% compared to the first quarter of last year, mainly due to increasing revenue conversion of projects related to the Hospital Future Act. Recurring revenues increased by 11% to EUR 57 million, representing 73% of total revenues.

In the PCS segment, revenues in the first quarter decreased to EUR 34 million, down 2% from the prior year, which had been influenced by hardware one-off revenues in Italy. Recurring revenues increased by 6% to EUR 25 million, representing 72% of total revenues.

After cancelling its mid-term ambitions for 2025 that had originally been published in September 2021, CGM is now returning to a policy of giving annual guidance only. In February 2024, CompuGroup Medical had published its guidance for the current financial year with an organic revenue growth between 4% and 6% and an adjusted EBITDA in a range of EUR 270 million to EUR 310 million.

 

 



08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: CompuGroup Medical SE & Co. KGaA
Maria Trost 21
56070 Koblenz
Germany
Phone: +49 (0)160 3630362
Fax: +49 (0)261 8000 3200
E-mail: investor@cgm.com
Internet: www.cgm.com
ISIN: DE000A288904
WKN: A28890
Indices: SDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1898141

 
End of News EQS News Service

1898141  08.05.2024 CET/CEST

Ausgewählte Hebelprodukte auf CompuGroup Medical

Mit Knock-outs können spekulative Anleger überproportional an Kursbewegungen partizipieren. Wählen Sie einfach den gewünschten Hebel und wir zeigen Ihnen passende Open-End Produkte auf CompuGroup Medical

NameHebelKOEmittent
NameHebelKOEmittent
Werbung

Nachrichten zu CompuGroup Medical SE & Co. KGaA

Analysen zu CompuGroup Medical SE & Co. KGaA

DatumRatingAnalyst
05.06.2024CompuGroup Medical SECo BuyBaader Bank
13.05.2024CompuGroup Medical SECo HoldDeutsche Bank AG
09.05.2024CompuGroup Medical SECo BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
08.05.2024CompuGroup Medical SECo BuyWarburg Research
08.05.2024CompuGroup Medical SECo BuyBaader Bank
DatumRatingAnalyst
05.06.2024CompuGroup Medical SECo BuyBaader Bank
09.05.2024CompuGroup Medical SECo BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
08.05.2024CompuGroup Medical SECo BuyWarburg Research
08.05.2024CompuGroup Medical SECo BuyBaader Bank
26.04.2024CompuGroup Medical SECo BuyBaader Bank
DatumRatingAnalyst
13.05.2024CompuGroup Medical SECo HoldDeutsche Bank AG
08.05.2024CompuGroup Medical SECo HoldJefferies & Company Inc.
25.04.2024CompuGroup Medical SECo HoldJefferies & Company Inc.
09.01.2024CompuGroup Medical SECo HoldJefferies & Company Inc.
13.11.2023CompuGroup Medical SECo HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
DatumRatingAnalyst
08.12.2021CompuGroup Medical SECo UnderweightMorgan Stanley
09.11.2021CompuGroup Medical SECo ReduceBaader Bank
04.11.2021CompuGroup Medical SECo ReduceBaader Bank
25.10.2021CompuGroup Medical SECo ReduceBaader Bank
16.09.2021CompuGroup Medical SECo ReduceBaader Bank

Um die Übersicht zu verbessern, haben Sie die Möglichkeit, die Analysen für CompuGroup Medical SE & Co. KGaA nach folgenden Kriterien zu filtern.

Alle: Alle Empfehlungen

Buy: Kaufempfehlungen wie z.B. "kaufen" oder "buy"
Hold: Halten-Empfehlungen wie z.B. "halten" oder "neutral"
Sell: Verkaufsempfehlungn wie z.B. "verkaufen" oder "reduce"