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CompuGroup Medical Profits From Healthcare Digitization With Dynamic Growth In Q1

DGAP-News: CompuGroup Medical SE & Co. KGaA / Keyword (s): Quarterly results
06.05.2021 / 07:24
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Koblenz. CompuGroup Medical SE & Co. KGaA (CGM) announces a good start to 2021. Especially in the context of the COVID-19 pandemic, the Koblenz-based company – one of the world’s leading e-health providers – is fully on track based on the first quarter results released today. The demand for solutions that help healthcare providers, governments and citizens cope with the ongoing pandemic remains high, especially as most countries have started providing vaccines to their citizens. The provision of a vaccination module for physician software in Germany, support for electronic vaccination documentation in Austria and an online appointment booking platform in Italy are just some of the solutions that CGM offers in this area.

CGM also announced a cooperation with the Universitätsklinikum Hamburg-Eppendorf (UKE), one of Europe’s leading university clinics and a pioneer in the digitalization of healthcare, which will take a step forward using the information system hospital (HIS) CGM CLINICAL. In addition, there has been a promising start to the Hospital Future Act with intense discussions with clients and a high number of prospects.

“For the first quarter, we are completely on track as we invest in research and development, sales and distribution capabilities to enable further growth. Digitization is becoming an indispensable part of healthcare and CGM is making a crucial contribution to it, ”said Dr. Dirk Wössner, CEO of CompuGroup Medical, and added: “Our deep gratitude goes to the frontline fighters in this pandemic. We passionately support our clients: doctors, nurses and all healthcare professionals in their courageous fight against COVID -19, eg. Support the vaccination process. “

Michael Rauch, CFO of CompuGroup Medical, added: “The first quarter showed dynamic growth with lower margins than the previous year, in line with our planned growth investments. We are very satisfied with our cash development. -free flow which was significantly better than the previous year and also benefited from one-off effects. “

Dynamic growth in the first quarter

Overall, CGM had a strong first quarter with group revenues up 25% to 229 million euros (previous year: 183 million euros). Organically – that is to say corrected for consolidation and currency effects – it is up 5%. Recurring revenues represent 69% of total revenues against 67% the previous year within the Group. Adjusted EBITDA increased by 7%, from 43 million euros in the first quarter of 2020 to 47 million euros.

Below the line, CGM achieved a consolidated profit of 11 million euros in the first quarter (previous year: 13 million euros). Adjusted (diluted) earnings per share amounted to EUR 0.33 (previous year: EUR 0.34), while free cash flow reached EUR 70 million (previous year: EUR 51 million).

CGM confirms its forecast for the full year. For 2021, revenues of around € 1 billion to € 1.04 billion are expected. Adjusted EBITDA for 2021 is expected to be between € 210 million and € 230 million.

Segments: recurring revenue growth in all segments

the Ambulatory Information Systems (AIS) the segment increased its revenues by 18% to 112 million euros (previous year: 95 million euros). The share of recurring revenues increased from 73% in the previous year quarter to 77%. Due to strong activity with the Windows 10 rollout in Q1 2020, revenue was organically slightly lower than a year earlier. The segment generated adjusted EBITDA of 30 million euros (previous year: 27 million euros). The operating margin was 26%, compared to 29% in the same quarter of the previous year, impacted by the increase in investments in R&D, sales and distribution and by the lower margin of the newly consolidated US activity.

the Hospital Information Systems (HIS) The segment recorded strong revenue growth of 64% to 55 million euros (previous year: 34 million euros) due to the acquisition of parts of the Cerner portfolio in 2020. Organic growth of the turnover of 8% is based on a very good commercial development in Germany. Adjusted EBITDA amounted to € 7.6 million (previous year: € 4.2 million) with an operating margin of 14% slightly higher than the previous year (13%) despite additional investments.

the Consumer and Health Management Information Systems (CHS) The segment significantly increased its revenues by 33% to 34 million euros (previous year: 25 million euros), notably thanks to the ongoing deployment of telematics (IT) infrastructure in pharmacies. Excluding IT, organic revenue growth was + 9%, mainly driven by strong growth in data activity in Germany. Adjusted EBITDA was 5.2 million euros and 6% above the figure for the previous year (4.9 million euros). The margin was down due to a higher share of IT hardware revenue and growth investments.

the Pharmaceutical Information Systems (PCS) segment achieved sales of 28 million euros, slightly lower than the previous year (29 million euros) which had again benefited from the deployment of Windows 10. Adjusted EBITDA decreased by 0.9 million euros to 8.0 million euros (previous year: 8.9 million euros), due to the increase in investments.

The full quarterly report is available on the company’s website at www.cgm.com/ir-publications.

About CompuGroup Medical SE & Co. KGaA

CompuGroup Medical is one of the world’s leading eHealth companies. With a revenue base of 837 million euros in 2020, its software products are designed to support all medical and organizational activities of doctors’ offices, pharmacies, laboratories and hospitals. Its information services for all parties involved in the healthcare system and its online personal health records contribute to safer and more efficient healthcare. CompuGroup Medical’s services are based on a unique customer base of over 1.6 million users, including physicians, dentists, pharmacists and other healthcare professionals in inpatient and outpatient settings. With sites in 18 countries and products in 56 countries around the world, CompuGroup Medical is the eHealth company offering one of the highest coverage among eHealth service providers. Around 8,000 highly qualified employees support customers with innovative solutions that meet the ever-increasing demands of the healthcare system.

Contact for media representatives:

Michael franz
Head of brand communication
Phone. + 49 (0) 261 8000-6100
Fax +49 (0) 261 8000-3100
Email: [email protected]

Contact for analysts and investors:

Claudia Thomé
Vice President Corporate Relations Investors
Phone. + 49 (0) 261 8000-7030
Fax +49 (0) 261 8000-3200
Email: [email protected]

06.05.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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