Slide 1: FY 2023 Earnings
FY 2023 Earnings March 27. 2024
Slide 2: The big picture
The big picture Revenue Recurring EBITDA Exceptional 616.0 M€ Operating 108.8 M€ items + 60.8 M€ Income +10.9 % Reported +10.8 % Lfl +13.1% +12.6 M€ 31.7 M€ -11.7 M€ 0.8 M€ +23 % +6.0 M€ 2023 2022 Net Profit Operating FCF Net debt Excl. IFRS 16 97.9 M€ 144.9 M€ -7.9 M€ - 166 % - 20 M€ +5.6 % + 7.7 M
Slide 3: Acquisition of a majority stake
Acquisition of a majority stake Phealing | November 2023 Autonomous tool for advanced control of drug dispensing, saving time for the pharmacy team. © Cegedim 2024 3
Slide 4: FY 2023 P&L
FY 2023 P&L In € miillion 2023 2022 Var % Var. M€ Revenue 616.0 555.2 10.9 % 60.8 Purchase used -28.5 -26.6 7.5 % -1.9 External expenses -138.5 -119.9 15.5% -18.6 Employee costs -331.7 -303.6 9.3 % -28.1 Others -8.3 -9.0 -7.1 % -0.7 EBITDA 108.8 96.2 13.1 % 12.6 Margin EBITDA 17.7% 17.3% D&A -77.2 -
Slide 5: Payroll costs
Payroll costs Payroll costs Headcount Offshore +9.3% +28.2 M€ 6 073 + 188 + 321 6 582 Offshore 27.0% 331,7 M€ 303,6 M€ +8.4% +509* Inshore 73.0% 2022 2023 * of which 238 Allianz © Cegedim 2024 5
Slide 6: R&D Investment
R&D Investment Impact on recurring operating Capitalized R&D D&A* income +9.4 % +2.9 % +6.6 M€ +1.6 M€ Capitalized R&D +1.6 M€ 70.5 M€ 77.2 M€ 55.6 M€ Others D&A of R&D - 3.5 M€ 54 M€ IFRS 16 Impact on recurring 40.0 -1.9 M€ R&D operating income 36.5 17.7 17.2 16.8 19.5 * Excluding non recurring D&A
Slide 7: Free cash flow
Free cash flow In € million 2023 2022 Consolidated net profit -7.9 12.1 Net Debt Depreciation and amortization expenses and provisions 84.0 83.1 Cost of net financial debt Share of earnings from equity method companies ; tax 11.9 12.4 8.8 3.3 2022 expenses Operating Cash flow before cost of net 100.
Slide 8: Financing
Financing Principal financing Debt Covenants Status Amount Maturity Status Limit Euro PP - 135.0 M€ October 2025 Leverage 1.04 < 2.50 Shareholder loan - 45.1 M€ November 2025 (Debt/Ebitda) RCF Undrawn 65.0 M€ October 2024 Interest cover Overdraft Unused 24.0 M€ - 16.61 > 4.50 (Ebitda/ debt interests
Slide 9: Balance sheet
Balance sheet Assets Shareholders equity & liabilities In € million 2023 2022 In € million 2023 2022 Goodwill 199.8 198.8 Intangible assets 194.2 188.1 Shareholder equity 294.6 304.1 Tangible assets 138.6 131.0 Financial assets 20.6 20.7 Long-term financial debt 188.5 188.9 Oher non-current Other no
Slide 10: Software & Services
Software & 53% 326.6 M€ +8.2% of 2023 Group revenue Revenue +24.6 M€ 4.2 M€ +9.1 M€ Recurring Operating Income Services Recurring Revenue Var. 2023 / 2022 Operating Var. 2023 / 2022 Income 2023 2022 M€ % 2023 2022 M€ % In € million Total Software et Services 326.6 302.0 +24.6 +8.2 % 4.2 -4.9 9.1 +18
Slide 11: Flow
15.6% 95.9 M€ +5.9% €12.1 M€ -7.3 % Flow of 2023 Group revenue Revenue +5.3 M€ Recurring Operating Income Recurring Revenue Var. 2023 / 2022 Operating Var. 2023 / 2022 Income 2023 2022 M€ % 2023 2022 M€ % In € million Total Flow 95.9 90.6 +5.3 +5.9% e-business 57.9 53.9 +4.0 +7.4% 12.1 13.1 -1.0 -7.
Slide 12: Data & marketing
Data & 18.6% 114.9 M€ +7.5 % €15.9 M€ -11.3 % of 2023 Group revenue Revenue +8.0M€ Recurring Operating Income marketing Recurring Revenue Var. 2023 / 2022 Operating Var. 2023 / 2022 Income 2023 2022 M€ % 2023 2022 M€ % In € million Total Data & 114.9 106.9 +8.0 +7.5% Marketing Data 64.5 61.4 +3.1 +5
Slide 13: BPO
11.6% 71.5 M€ +34.9% 4.0 M€ +33.0 % BPO of 2023 Group Revenue Revenue +18.5M€ Recurring Operating Income Recurring Revenue Var. 2023 / 2022 Operating Var. 2023 / 2022 Income 2023 2022 M€ % 2023 2022 M€ % In € million Total BPO 71.5 53.0 +18.5 34.9% BPO Insurance 49.9 32.1 +17.8 55.3% 4.0 3.0 +1.0 +3
Slide 14: 2024 Outlook
2024 Outlook Recurring Revenue Operating Income Growth Increasing range 5 et 8% Based on information available at the date of publication. Lastly, the Group is not releasing any earnings estimates or landing forecasts. © Cegedim 2024 14
Slide 15: CSR challenges
CSR challenges 2023 • Green IT programme and digital responsibility • Energy efficiency plan • ISO 50001 certification - Energy management • Formalisation of policies: Responsible digital. Sustainable development. Environment. HR. Purchasing. Ethics • Stakeholder mapping • Climate risk analysis • CS
Slide 16: CSR governance at Cegedim since 2021
CSR governance at Cegedim since 2021 Group CSR Department Network of CSR officers CSR Committee CSR Club Performance Department in the subsidiaries Board of Directors BU and support functions © Cegedim 2024 16
Slide 17: CSR – External Rating
CSR – External Rating Provider Rating Ecovadis 52 / 100 Gaïa 59 / 100 Vigeo Eiris +3 52 / 100 CDP D Rating D (Incomplete data) Score carbone Axylia A Rating A Label ISO 26000 RSE In progress Q1 2024 © Cegedim 2024 17
Slide 18: 2024 Financial calendar
2024 Financial calendar 25 April 14 June 25 July 26 September After market close After market close Annual H1 Earnings Q1 Revenue H1 Revenue Shareholders' Meeting 2024 2024 2024 2024 © Cegedim 2024 18
Slide 19: Thank you for your attention
Thank you for your attention For any additional information Investor.relations@cegedim.com