DGAP-News: CompuGroup Medical SE & Co. KGaA
/ Key word(s): Quarter Results
"2021 is a year in which digitization in healthcare takes a significant step forward," said Dr. Dirk Wössner, CEO of CompuGroup Medical. "Besides COVID-related topics on electronic vaccination certificates and e-vaccination, this includes government initiatives in various countries, such as new Telematics Infrastructure applications - electronic health record and electronic sick note - in Germany. CompuGroup Medical is very well positioned here due to its years of investment and outstanding technology, and is benefiting from this growth in many areas."
Michael Rauch, CFO of CompuGroup Medical, added, "We are pleased with the third quarter results: As expected, organic growth in the AIS segment is picking up and the CHS segment recorded a strong quarter. We confirm our full year guidance. In terms of free cash flow, the payments from the connector upgrade will be received in the fourth quarter."
Group: Strong revenue growth and EBITDA impacted by planned investments
Free cash flow reached EUR 8.3 million in the third quarter and EUR 73 million in the first nine months of 2021 versus EUR 32 million and EUR 79 million in the previous year. Consolidated net income was EUR 28 million (previous year: EUR 35 million). Adjusted earnings per share (diluted) amounted to EUR 0.70 (previous year: EUR 0.71) in the third quarter and to EUR 1.46 in the first nine months (previous year: EUR 1.42).
CGM confirms its guidance for the full year 2021, with revenues expected in the range of EUR 1 billion to EUR 1.04 billion and adjusted EBITDA expected between EUR 210 million and EUR 230 million.
Segments: Excellent performance across all segments
In the Hospital Information Systems segment, revenues increased by 17 % to EUR 66 million (previous year: EUR 56 million). This strong revenue growth was supported by the acquisitions of VISUS Group and KMS Vertrieb und Services AG. Organic growth in the third quarter was 5 %, mostly driven by a strong performance in the German and Spanish clinical business. The share of recurring revenues increased from 60 % in the third quarter of 2020 to 68 %. Adjusted EBITDA grew by 21 % to EUR 9.5 million (previous year: EUR 7.8 million).
The Consumer & Health Management Information Systems segment recorded revenues of EUR 59 million, after EUR 56 million in the third quarter of 2020, which means an increase of 6 %. Organic growth amounted to 7 %, in data solutions excluding Telematics Infrastructure to 11 %. Recurring revenues rose by 24 % to EUR 16 million, resulting in a share of recurring revenues of 27 %. Main drivers of this development were a good performance in data solutions and a steadily increasing customer base in the Telematics Infrastructure business. Adjusted EBITDA amounted to EUR 23 million after EUR 28 million in the third quarter of 2020. The decrease of 16 % in adjusted EBITDA is mainly a consequence of increased growth investments.
The Pharmacy Information Systems segment recorded a positive revenue growth of 3 % to EUR 30 million (previous year: EUR 29 million), with an organic growth of 3 % equally. The share of recurring revenues grew from 64 % in the previous year to 66 %. With an adjusted EBITDA of EUR 7.4 million (previous year: EUR 7.7 million), the operating margin amounts to 25 % (previous year: 27 %).
04.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||CompuGroup Medical SE & Co. KGaA|
|Maria Trost 21|
|Phone:||+49 (0)261 8000 7030|
|Fax:||+49 (0)261 8000 3200|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1246101|
|End of News||DGAP News Service|