Slide 1: Annual Results 2018
Slide 2: Forward-looking statements
This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to be accurate. By their nature,
Slide 3: Business overview
Business overview Jean-Claude Labrune Chairman and CEO
Slide 4: Overview
Overview Since selling our CRM business in 2015 Cegedim’s business exposure has been greatly simplified from both a − Geographic standpoint, − Business line standpoint. Cegedim’s businesses − Payroll − Management of health and personal protection insurance − Data flow management and digital solution
Slide 5: Cegedim's business key point
Cegedim’s business key point Key characteristic of our business Growing businesses Substantial resources requirements and therefore recruitment pressure Tightly linked to the healthcare industry Businesses influenced by: The breakneck development of digital and related technologies. Tuesday’s vote o
Slide 6: Innovation: A key driver
Innovation: A key driver Offshore investments − Development of our Bucharest BPO platform in addition to Rabat. − Creation of a new development platform in Cairo Conclusion Investing in our businesses is a necessary condition of future success Everything we do is focused on creating the assets we ne
Slide 7: Strategy
Strategy Laurent Labrune Managing Director
Slide 8: Cegedim at a glance
ga cegedim Cegedim at a glance 3 business groups: Cegedim: Data, Digital and SaaS Specialist + Health Insurance, HR & e-services + Healthcare Professionals + Corporate & Others 4,562 employees in 1 countries in Healthcare & other industries 5 datacenters
Slide 9: FY 2018 Financial Results
Ba cegedim FY 2018 Financial Results EBITDA margin 16.4% vs 16.9% in 2017 Significant investment
Slide 10: Cegedim strength and performance model
Cegedim strength and performance model 10
Slide 11: Unique Key drivers to fuel Growth and business resilience
Unique Key drivers to fuel Growth and business resilience 11
Slide 12: Strengthening our business through active portfolio management
Strengthening our business through active portfolio management 12
Slide 13: Strong innovation capacities
Strong innovation capacities 13
Slide 14: Healthcare footprint
B: cegedim Healthcare footprint workstations excluding US +152, oe © doctor DOCTORS 48,000 allied health professionals 1A
Slide 15: Perspectives for B2B Healthcare Business units
Perspectives for B2B Healthcare Business units Solution for health insurers Real World Data and sales statistics Market consolidation and cost pressure Ambition Heavy regulation changes − Create the reference RWD database in Europe − End of the self-employment scheme for pharmaceutical companies and
Slide 16: Perspectives for Cegedim Healthcare Professionals
Perspectives for Cegedim Healthcare Professionals Solution for providers Telemedicine and online booking appointment UK: Ambition: − Renewal of Wales and Scotland contracts − Become the #1 in Telemedicine − First Vision Anywhere version released Startup mode − E-prescription generalization − Expansi
Slide 17: Perspectives for Cegedim Healthcare Professionals
Perspectives for Cegedim Healthcare Professionals Solution Digital for pharmacists displays in pharmacies Digital displays in pharmacies France: A− new Newrange ofof range products productand services incorporating for pharmacy chains / #1 information and promotional media at the point of the consor
Slide 18: Perspectives for Cegedim B2B divisions
Perspectives for Cegedim B2B divisions HR Solution for large and small companies Digitalize your contract to pay process Solid 2 digits growth (+35 large accounts) Solid 2 digit growth (+45 new customers) Successful expansion to small & mid size 120 000 companies connected companies with Rue de la P
Slide 19: Finance
Finance Pierre Marucchi Managing Director
Slide 20: Key Operating Performance
Key Operating Performance REVENUE EBITDA NET FINCIAL DEBT 20
Slide 21: FY 2018 Profit & Loss Statements
FY 2018 Profit & Loss Statements In € million FY 17 FY 18 % change €467.7m REVENUE EBITDA 457.4 77.5 467.7 76.8 +2.2% (0.9)% REVENUE Margin 16.9% 16.4% (53)bps D&A (40.1) (43.7) +9.1% 16.4% EBIT BEFORE SPECIAL ITEMS 37.4 33.1 (11.7)% Margin 8.2% 7.1% (111)bps Special items (18.9) (18.6) (1.2)% EBITD
Slide 22: FY 18 Revenue Overview
FY 18 Revenue Overview wn a =) Ww Lu a4 6.00« e €467.7m ——— — RE EL ORGANIC STRUCTURE RUEDE USD LAPAYE GBP EUR 86.3% GBP CURRENCY FY 2017 FY 2018 | |aes uRR ‘in RoW CLIENT 1.3% 22
Slide 23: BPO Revenue Trend
Ba cegedim BPO Revenue Trend FY 2015 FY 2016 FY 2017 FY 2018
Slide 24: Headcount
® cegedim Headcount JUN.2015 DEC. 2015 DEC. 2016 DEC. 2017 DEC. 2018 24
Slide 25: L-f-l FY 18 Revenue growth by business group
L-f-l FY 18 Revenue growth by business group © cegedim 2019 25
Slide 26: FY 2018 EBITDA Trend
me cegedim FY 2018 EBITDA Trend €77.5m MARGIN €76.8m 16.9% 16.4% REVENUE PAYROLL EXTERNAL PURCHASES OTHERS COSTS EXPENSES USED FY 2017 FY 2018 26
Slide 27: EBITDA by business group
EBITDA by business group © cegedim 2019 27
Slide 28: Comments by Business Group
Comments by Business Group © cegedim 2019 28
Slide 29: FY 18: From EBITDA to Net Earnings
FY 18: From EBITDA to Net Earnings 29
Slide 30: FY 2018 Financial Performance
FY 2018 Financial Performance In € million FY 17 FY 18 % change €467.7m REVENUE EBITDA 457.4 77.5 467.7 76.8 +2.2% (0.9)% REVENUE Margin 16.9% 16.4% (53)bps D&A (40.1) (43.7) +9.1% €33.1m EBIT BEFORE SPECIAL ITEMS 37.4 33.1 (11.7)% Margin 8.2% 7.1% (111)bps Special items (18.9) (18.6) (1.2)% EBIT EB
Slide 31: FCF from operations
FCF from operations €64.8m In € million Cash flow before taxes and interests FY 17 85.9 FY 18 62.1 FCF from operations Change in working capital requirement (10.6) 64.4 Corporate tax paid (1.8) (2.9) +€51.4m Net cash flow from operating activities 73.5 123.6 Increase compare Acquisition of intangibl
Slide 32: Change in Net Financial Debt
Change in Net Financial Debt Significant decrease in Net Debt 32
Slide 33: FY 2018 Balance Sheet
FY 2018 Balance Sheet Sound Financial Structure In € million Dec. 17 Dec. 18 €199.0m ASSETS Goodwill Intangible assets 167.8 145.8 173.0 156.7 Equity Tangible assets 33.2 33.4 Financial assets 20.4 21.0 Other non-current assets 38.2 39.9 €189.1m Cash & cash equivalent 18.7 81.1 Trade receivables, sh
Slide 34: Potential Impact of Brexit
Potential Impact of Brexit 34
Slide 35: Outlook: Confident for 2019
Outlook: Confident for 2019 These projections are publicly disclosed on March 27, 2019. The fact that Cegedim includes these projections in this presentation should not be taken to mean that these projections continue to be our projections as of any subsequent date. 35
Slide 36: Annexes
Annexes FY 2018 Earnings Vv) 5 =) Vv) Lu o~
Slide 37: Health Insurance, HR & e-services Business Group
Health Insurance, HR & e-services Business Group In € million FY 18 FY 17 % change €307.7m REVENUE EBITDA 307.7 54.4 291.1 48.1 +5.7% +13.2 REVENUE Margin 17.7% 16.5% 117bps D&A (21.9) (19.7) +11.2% € 54.4m EBIT BEFORE SPECIAL ITEMS 32.5 28.4 +14.5% Margin 10.6% 9.7% +82bps Special items (1.5) (2.4)
Slide 38: Healthcare Professionals Business Group
Healthcare Professionals Business Group In € million FY 18 FY 17 % change €156.2m REVENUE EBITDA 156.2 18.9 162.5 25.0 (3.9)% (24.5)% REVENUE Margin 12.1% 15.4% (330)bps D&A (16.3) (14.6) +11.9% € 18.9m EBIT BEFORE SPECIAL ITEMS 2.5 10.4 (75.6)% Margin 1.6% 6.4% (477)bps Special items (11.6) (14.4)
Slide 39: Corporate & Other Business Group
Corporate & Other Business Group In € million FY 18 FY 17 % change €3.8m REVENUE EBITDA 3.8 3.5 3.9 4.4 (1.5)% (21.2)% REVENUE Margin 91.5% 114.4% n.m. D&A (5.5) (5.8) (5.2)% € 3.5m EBIT BEFORE SPECIAL ITEMS (2.0) (1.3) +48.2% Margin (51.8)% (34.4)% (1736)bps Special items (5.5) (2.1) n.m. EBITDA 91
Slide 40: Thank you for your attention
Thank you for your attention Jan Eryk Umiastowski Chief Investment Officer – Head of Investor Relations janeryk.umiastowski@cegedim.com Tel: 00 33 1 49 09 33 36 – Mob: 00 33 6 73 25 96 34 Design: Group Communication Service