CompuGroup Medical SE & Co. KGaA Publishes Half-Year Figures for 2024

CompuGroup Medical SE & Co. KGaA (CGM) has released its half-year financial results for 2024. Overall group revenue fell by 6% to EUR 562 million, down from EUR 595 million in the previous year, largely due to prior-year one-time effects. Organic revenues saw a 5% decline year-on-year. However, recurring revenues grew by 6%, reaching EUR 423 million and accounting for 75% of total revenue.

Adjusted EBITDA dropped by 14% to EUR 114 million. Adjusted earnings per share decreased to EUR 0.81 from EUR 1.07. Free cash flow stood at EUR 39 million, and net debt rose to EUR 779 million. Leverage increased from 2.8x to 3.3x.

In the first half of 2024, the Ambulatory Information Systems segment reported a 10% decline in revenue to EUR 338 million, while Hospital Information Systems saw a 4% growth to EUR 156 million. Pharmacy Information Systems reported a 1% decline to EUR 68 million. Despite these figures, investments were made in e-health innovations and AI, with R&D expenses totaling EUR 125 million.

CGM revised its guidance for 2024, now expecting organic revenue growth between -2% and 0%, and adjusted EBITDA between EUR 220 million and EUR 250 million.