Cegedim Sa · EURONEXT:ALCGM
Cegedim Sa — Non-Deal Roadshow (April 2020)
49 slides from Cegedim Sa's roadshow presentation, April 2020
Slide 1: April-May 2020
April-May 2020 gi cegedim © N © N cD) _ © xe) QO. =) — ‘e) ~~ VY) cD) > Cc
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: 3
3
Slide 4: The Big Picture
The Big Picture FY 2019 €503.7m Reported FY-2019 revenue 5,066 employees as of March 31, 2020 €101.2m FY-2019 EBITDA” +3.3% Q-1 2020 LFL revenue growth rate Bj cegedim
Slide 5: Cegedim: An innovative technology and services company
Cegedim: An innovative technology and services company 5
Slide 6: Innovation: Technology makes the difference
Innovation: Technology makes the difference 6
Slide 7: A unique, diversified group creating synergies and opportunities
A unique, diversified group creating synergies and opportunities 7
Slide 8: Evolving the portfolio
Evolving the portfolio These transactions added: Innovation, Scale of business, Expertise, New market, Increased profitability 8
Slide 9: Healthcare is becoming a digital business
Healthcare is becoming a digital business 9
Slide 10: The digital revolution is an opportunity for all of our business
The digital revolution is an opportunity for all of our business 10
Slide 11: Covid-19 Pandemic
Covid-19 Pandemic Solid financial structure, liquidity secound + Solid business model focusing to a large extent on the healthcare sector. + Robust financial situation. + Reasonable leverage. + No debt maturing before October 2024. + Undrawn €45 million RCF. + Unused €24 million overdraft facility.
Slide 12: Maiia: Key figures
Maiia: Key figures as of April 27, 2020 12
Slide 13: Conclusion: Cegedim's pillars
Conclusion: Cegedim’s 3 pillars 13
Slide 14: Finance
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Slide 15: i) a aK iy Se
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Slide 16: Q1 2020 Revenue overview
Q1 2020 Revenue overview QI 2019 Q1 2020 Bi cegedim 5) O.Gce REPORTED ORGANIC REVENUE BREAKDOWN BY: a CURRENCY STRUCTURE COSYTEC NET EDI cer © PUuLse's ASSETS, oe ee BF 25 SB SE R= 80 25 [Pp OC © em 16
Slide 17: Strong BPO trend
Strong BPO trend 020 Bi cegedim BPO REVENUE TREND | €8.4m go -o™ fase) | €7.8m | €4.5m q HEADCOUNT TREND QLIS O12 —QN-BIT «—«QN-2018— 1.2018 = QN-2020 © © © © 7
Slide 18: LFL Q1 2020 revenue growth by business group
LFL Q1 2020 revenue growth by business group 18
Slide 19: Health Insurance, HR & E-Services Division Overview
Health Insurance, HR & E-Services Division Overview 19
Slide 20: Healthcare Professionals Division Overview
Healthcare Professionals Division Overview
Slide 21: Finance
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Slide 22: IFRS 16 Application
IFRS 16 Application Applied since January 1st, 2019 • Applied to leases involving fixed payments, mostly related to rents • Financial statements not restated as of December 31, 2018, in accordance with the standard • Negligible impact on net profit (loss) • Impact on EBITDA: +€15.9 million • Impact
Slide 23: FY 2019 The big picture
FY 2019 The big picture FY 18 FY 19 REVENUE 2RING OPERATING INCOME MARGIN FY 18 FY 19 FCF from operations €64.8m FY 19 FY 18 NET DEBT €108m LEVERAGE €180.6m\ xl.4 Levene x21 FY 18 FY 18 23
Slide 24: FY 2019 Revenue overview
FY 2019 Revenue overview Bj cegedim = S G.050 REPORTED ORGANIC STRUCTURE XIMANTIX GaP BSV NET EDI © PULSE'S ASSETS, REVENUE BREAKDOWN BY: , EUR 87.2% FY 2018 FY 2019 CURRENCY sz. usD 1.5% | | RoW 1.5% 24
Slide 25: Strong BPO trend
Strong BPO trend Bj cegedim BPO REVENUE TREND 4,562 4,946 €32.2m €35.9m 4,226 €26.0m me 3,633 €20.2m F - FY-2015 FY-2016 FY-2017——FY-2018 FY-2019 DEC. 2015 DEC.2016 DEC. 2017. DEC. 2018 DEC. 2019 Ore OP» HEADC! NT TREND 25
Slide 26: FY 2019 Recurring Operating Income Trend
FY 2019 Recurring Operating Income Trend 26
Slide 27: Health Insurance, HR & E-Services Division Overview
Health Insurance, HR & E-Services Division Overview 27
Slide 28: Healthcare Professionals Division Overview
Healthcare Professionals Division Overview
Slide 29: From Recurring operating income to Net Earnings
From Recurring operating income to Net Earnings 29
Slide 30: FY 2019 Financial Performance
FY 2019 Financial Performance In € million FY 18 FY 19 % change IFRS 16 REVENUE 467.7 503.7 +7.7% EBITDA 76.8 101.2 31.9% +€15.9 million on FY-19 EBITDA Margin 16.4% 20.1% +368bp D&A related to R&D (28.6) (32.5) +13.4% D&A related to IFRS 16 0.0 (15.8) n.m. €(15.8) million on FY-19 D&A D&A others (1
Slide 31: FCF from operations
FCF from operations In € million FY 18 FY 19 Cash flow before taxes and interests 62.1 95.9 Negative Impact: Change in working capital requirement 64.4 (64.5) ! • €39.0 million from factoring cancellations Corporate tax paid (2.9) (2.2) Net cash flow from operating activities 123.6 29.3 • €32.2 mill
Slide 32: Change in Net Financial Debt
Change in Net Financial Debt Incorporating for the first time the effects of the application of IFRS 16 Leases 32
Slide 33: FY 2019 Balance Sheet Sound Financial Structure
FY 2019 Balance Sheet Sound Financial Structure In € million Dec. 18 Dec. 19 ASSETS As a liability: recognition of a lease liability (€65.9 million - €52.4 million non Goodwill Intangible assets 173.0 156.7 192.7 157.5 1 current portion and €13.5 million current portion) , measured at the discounted
Slide 34: Outlook
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Slide 35: FY 2020 Outlook
FY 2020 Outlook FY 2020 Outlook At this stage of the covid-19 pandemic, it is too early to gauge the full impact (positive and negative) on the Group’s 2020 revenues and recurring operating income”. + These projections are publicy disclosed on April 27, 2020. The fact that Cegedim includes these pro
Slide 36: FY 2020 Financial Agenda
April 27 after the market close First quarter 2020 revenues FY 2020 Financial Agenda June 17 at 9:30am CET Cegedim shareholders’ meeting July 28 after the market close Second quarter 2020 revenues September 24 after the market close 2020 half year earnings September 25 at 10:00am CET Analyst meeting
Slide 37: Annexes
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Slide 38: Alternative Performance Indicator
Alternative Performance Indicator This financial performance indicator is equivalent to “operating profit from continuing activities” plus net depreciation and amortization expenses. Operating profit from continuing activities is defined as the sum of « recurring operating income » and « other non-r
Slide 39: Q1 2020 Revenue
Q1 2020 Revenue In € thousands Division 1 Division 2 Division 3 Group 2019 REVENUE (a) 79,239 39,100 882 119,222 Impact of disposals 0 (2,806) 0 (2,806) 2019 Revenue before impact of disposals 79,239 36,294 882 116,415 Currency impact 22 91 0 113 2019 Revenue at 2020 exchange rate (b) 79,261 36,386
Slide 40: 2019 Recurring operating income and EBITDA
2019 Recurring operating income and EBITDA in € million In € million FY 18 FY 19 Reported Reported Operating income (a) 14.4 16.1 Other non-recurring operating income and expenses (b) (18.6) (18.5) Amortization of goodwill (c) 0.0 (2.5) Recurring operating income (REBIT) (d= a-b-c) 33.1 37.1 Depreci
Slide 41: 2019 Revenue
2019 Revenue In € thousands Division 1 Division 2 Division 3 Group 2018 REVENUE (a) 307,684 156,184 3,820 467,688 Impact of disposals 0 (3,971) 0 (3,971) 2018 Revenue before impact of disposals 307,684 152,213 3,820 463,717 Currency impact 20 670 0 690 2018 Revenue at 2019 exchange rate (b) 307,704
Slide 42: 2019 P&L – IFRS 16 Bridge
2019 P&L – IFRS 16 BRIDGE In € million FY 18 FY 19 0 % change 2019 IFRS 16 Reported ISA 17 Reported Impact REVENUE 467.7 503.7 +7.7% 503.7 0.0 EBITDA 76.8 85.4 +11.2% 101.2 +15.9 Margin 16.4% 16.9% +53bp 20.1% D&A related to R&D (28.6) (32.5) +13.4% (32.5) D&A related to IFRS 16 0.0 0.0 0.0% (15.8)
Slide 43: 2019 P&L – IFRS 16 Bridge: Health insurance, HR and e-services
2019 P&L – IFRS 16 BRIDGE in € million Health insurance, HR and e-services FY 18 FY 19 0 % change 2019 IFRS 16 Reported ISA 17 Reported Impact REVENUE 307.7 340.5 +10.7% 340.5 0.0 EBITDA 54.4 59.7 +9.8% 66.6 +6.9 Margin 17.7% 17.5% (14)bp 19.6% D&A (21.9) (25.3) +15.4% (32.1) (6.8) RECURRING OPERATI
Slide 44: 2019 P&L – IFRS 16 Bridge: Healthcare professionals
HY 2019 P&L – IFRS 16 BRIDGE in € million Healthcare professionals FY 18 FY 19 0 % change 2019 IFRS 16 Reported ISA 17 Reported Impact REVENUE 156.2 159.8 +2.3% 159.8 0.0 EBITDA 18.9 22.6 +19.7% 27.0 +4.5 Margin 12.1% 14.1% +205bp 16.9% D&A (16.3) (17.4) +6.5% (21.8) (4.4) RECURRING OPERATING INCOME
Slide 45: 2019 P&L – IFRS 16 Bridge: Corporate and others
2019 P&L – IFRS 16 BRIDGE in € million Corporate and others FY 18 FY 19 0 % change 2019 IFRS 16 Reported ISA 17 Reported Impact REVENUE 3.8 3.4 (10.2)% 3.4 0.0 EBITDA 3.5 3.1 (12.1)% 7.6 +4.5 Margin 91.5% 89.6% (187)bp n.m. D&A (5.5) (5.7) +4.5% (10.3) (4.6) RECURRING OPERATING INCOME (2.0) 2.6 +33.
Slide 46: 2019 Balance Sheet – IFRS 16 Bridge
HY 2019 Balance Sheet – IFRS 16 BRIDGE In € million Dec. 18 Dec. 19 Dec.19 IFRS16 Reported IAS 17 IFRS 16 Impact ASSETS Goodwill 173.0 192.7 192.7 0.0 Intangible assets 156.7 157.5 157.5 0.0 Tangible assets 33.4 34.6 99.2 64.5 Financial assets 21.0 19.8 19.8 0.0 Other non-current assets 39.9 47.3 46
Slide 47: Strong leadership
Investor Update 2020 Leading player in health data and analysis IOVIA #1 in personal Scoroim activ insurance computerization Bre EB oiioew ‘mene COOpENGO Aleader in MQ iQ) teleconsuttation ana online appointments Doth LIVI @hellocare Qare B Cc B Leading drug Eovboiseme database player Strong leaders
Slide 48: Top market positions in a highly competitive international environment
Top market positions in a highly competitive international environment 48
Slide 49: 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