DGAP-News: CompuGroup Medical SE & Co. KGaA
/ Key word(s): Quarterly / Interim Statement
Koblenz. With the financial report published today, CompuGroup Medical (CGM) looks back on the strongest quarter in the company's history. The Koblenz-based company, one of the leading providers of eHealth solutions worldwide, is also entirely on schedule for the first nine months of the year, whereby the prolonged coronavirus pandemic and the corresponding measures restrict visibility with regard to future economic development. At the same time, the company is benefiting from the ongoing digitization of the healthcare system, which has seen a significant boost in the wake of the pandemic. For example, trend-setting decisions such as the Hospital Future Act (Krankenhauszukunftsgesetz, KHZG), through which several billion euros are to be made available to hospitals, should further accelerate digitization. With the acquisition of parts of the Cerner product portfolio in the field of Hospital Information Systems in Germany and Spain, which was completed on July 1, 2020, CompuGroup Medical is excellently positioned to make these opportunities available to customers. "The months that lie behind us have impressively demonstrated that our decades of global efforts to digitize the healthcare system pay off," emphasizes Frank Gotthardt, founder and CEO of CompuGroup Medical. "With the next important steps in the Telematics Infrastructure and the Hospital Future Act - to name just two important measures from Germany - many millions of people will benefit from a modern, efficient and safe healthcare system. We will rigorously carry on our consistent growth course, continue to invest consistently in software and product development and thus play a leading and decisive role in shaping future developments." Michael Rauch, Chief Financial Officer (CFO), adds: "In addition to a very strong free cash flow, we are particularly pleased in this record quarter about the very positive development of our hospital segment, which has shown an impressive increase both organically and as a result of acquisitions, and about the positive revenue and profit effects from the Telematics Infrastructure rollout in the medical and pharmacy business. In the short term, we are currently living in a time characterized by uncertainty, but the business development of the last few months and the global, unprecedented acceleration in the digitization of health systems encourage us to further increase innovation investments for future growth." Group: Strong revenue growth and improved margin The free cash flow was EUR 31.8 million and thus significantly above the value from the same quarter of the previous year (EUR 2.8 million). The investments (CAPEX), at EUR 10.2 million, were below the previous year's value (EUR 14.7 million). The net debt as of the reporting date on September 30, 2020 sank when compared with December 31, 2019 by EUR 172.9 million to EUR 294.0 million. As of September 30, 2020, CompuGroup Medical employed around 6,300 employees and thus approx. 700 more than at the end of 2019, of which approx. 400 were as a result of acquisitions. CompuGroup Medical confirms the already raised guidance for revenues and adjusted EBITDA from August 6, 2020. For the year 2020, revenues in the range of EUR 820 million to EUR 860 million are still expected. The adjusted EBITDA is forecast to be within the region of EUR 205 million to EUR 220 million. However, the guidance for the 2020 fiscal year is still subject to greater uncertainty than usual due to the ongoing coronavirus pandemic. Segments: Clearly positive business development across all segments Business in the Pharmacy Information Systems (PCS) segment was significantly shaped by the rollout of the Telematics Infrastructure in pharmacies in Germany in the third quarter, in addition to good operational business development. Revenues increased by 26 % to EUR 34.9 million (previous year: EUR 27.7 million), organic revenues rose equally to EUR 34.7 million (previous year: EUR 27.5 million). EBITDA increased by 30 % to EUR 8.6 million (previous year: EUR 6.6 million). The Hospital Information Systems (HIS) segment developed particularly strong in the past quarter. In addition to the newly acquired parts of Cerner's IT healthcare portfolio, the other business areas of the segment also showed strong overall development. Services in connection with the introduction of the Telematics Infrastructure and the "Nökis" rollout in Lower Austria also contributed to the positive development of segment revenues. Overall, revenues in this segment improved by 80 % to EUR 56.1 million (previous year: EUR 31.2 million). The organic revenue growth of 10 % is based on particularly good development in the hospital business in the DACH region and Poland. The adjusted EBITDA amounted to EUR 7.7 million (previous year: EUR 3.1 million) with an operating margin of 14 % (previous year: 10 %). The Consumer & Health Management Information Systems (CHS) segment increased revenues by 5 % to EUR 11.6 million (previous year: EUR 11.0 million), whereby the organic revenues could be increased by 10 % to EUR 12.1 million (previous year: EUR 11.0 million). The positive revenue development is mainly due to the German Intermedix division. The CGM LIFE division was able to add upon its previous positive development in the third quarter of 2020. The adjusted EBITDA amounted to EUR 1.9 million and was EUR 2.0 million below previous year's figure mainly due to increased development expenses. The complete half year report is available on the company's website at www.cgm.com under Investor Relations.
05.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | CompuGroup Medical SE & Co. KGaA |
Maria Trost 21 | |
56070 Koblenz | |
Germany | |
Phone: | +49 (0)261 8000 7030 |
Fax: | +49 (0)261 8000 3200 |
E-mail: | investor@cgm.com |
Internet: | www.cgm.com |
ISIN: | DE000A288904 |
WKN: | A28890 |
Indices: | MDAX, TecDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1145660 |
End of News | DGAP News Service |
1145660 05.11.2020