Slide 1: 2012 Half-Year Results
eR 201 2 Half-Year Results — September 20", 2012
Slide 2: Safe Harbour Statement
Safe Harbour Statement This pre s e nta tion conta ins forwa rd-looking s ta teme nts (ma de purs ua nt to the s afe harbour provis ions of the P riva te S e curitie s Litiga tion Re form Act of 1995). By the ir na ture , forwa rd-looking s ta teme nts involve ris k a nd uncerta inty. Forwa rd-looki
Slide 3: Cegedim
w= cegedim Cegedim [Sej‘eh.deem] €911m 2011 Revenue 8,200 2011 Headcount 65% Recurring business €23/7m Market Capitalization 138% as of August 31, 2012 Makes healthcare business run simply and more efficiently
Slide 4: Key H1 2012 Figures
Key H1 2012 Figures | > Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | Fina nce 4 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 5: Cegedim Profile
Cegedim Profile Ma ke s he a lthca re bus ine s s run s imply a nd more e fficie ntly Global technology a nd services compa ny s pe cia lize d in healthcare Global leader in a dynamic environment Customers: all players in the healthcare world P ha rma ce utica l a nd Life -S cie nce s compa nie
Slide 6: Creating Value at the Heart of the Healthcare System
Creating Value at the Heart of the Healthcare System | > Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | Fina nce 6 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 7: Cegedim serves all the Healthcare Value Chain
Cegedim serves all the Healthcare Value Chain (FY 2011 figure s ) | > Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | Fina nce 7 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 8: Competitive Strengths
Competitive Strengths Shareholder support Strong and experienced senior management team and qualified personnel Portfolio of innovative and integrated products and services High barriers to entry Leading market positions in each of our divisions Strong customer base with recurring revenu
Slide 9: Strong and stable shareholder base
Strong and stable shareholder base S ha re holde r ba s e a s of end of July 2012 Boa rd of dire ctors Corpora te gove rna nce Complia nce with the re comme nda tion of the AFEP -MEDEF code Audit, S tra te gy, Nomina tion a nd Compe ns a tion committe e s | Group | CRM & S tra te gic Da ta | He
Slide 10: Well-balanced and diversified revenue mix
Well-balanced and diversified revenue mix Re ve nue bre a kdown (a s of J une 2012) Re ve nue Vis ibility Low cus tome r conce ntra tion a s of De ce mbe r 2011 S trong re curring re ve nue mode l Firs t clie nt: 4.5 % of Group re ve nue Multi-ye a r contra cts Top 5 clie nt: 12.5 % of Group
Slide 11: Cegedim offers a comprehensive set of solutions
Cegedim offers a comprehensive set of solutions Integrated solutions Compe titor s olutions a re s iloe d a nd focus on s pe cific s e gme nts key to addressing Unique pre s e nce in the he a lthca re indus try issues of quality, S upe rior ins ights a nd unde rs ta nding of the e nvironme nt
Slide 12: CRM & Strategic Data Comprehensive Solutions for Life Sciences Companies
CRM & St egic Comprehensive Solutions for Life Sciences Companies F (Enppor) Services 80 countries Others KP Cegedim Others 18% ; Cegedim 44% OneKey * #3 7 19% Revenue breakdown _ @ by geography i ance um #2 B EMEA ex France 34% 19% C America 22% D APAC 10% * including HPC Data Management Solutions
Slide 13: How to improve the productivity of sales and marketing resources
How to improve the productivity of sales and marketing resources | Group | > CRM & Strategic Data | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | Fina nce 13 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 14: Various Sources of Growth
Various Sources of Growth New Pharmaceutical landscape From blockbus te r to s pe cia ltie s , Incre a s ing comple xity of the ra pie s Ge ne rics More regulation Complia nce S a fe ty “Re a l Life ” S tudie s Significant sales growth in emerging market Ne w ma rke t for P ha rma
Slide 15: CRM & Strategic Data
CRM & Strategic Data H1 2012 The CRM solution users decrease during H1 2011 creates an unfavorable base effect, The s itua tion in S outhe rn Europe a n countrie s (11% of s e ctor re ve nue ), re ma ins difficult Eme rging countrie s a re s till ra pidly e xpa nding with a nota ble ra mp-up
Slide 16: Healthcare Professionals
Healthcare Professionals Comprehensive Solutions for Healthcare Professionals Physicians Belgium, United Kingdom, France, Italy, Spain, Romania, USA. Paramedics France Pharmacists France, United Kingdom, Romania, Tunisia. Cegelease & RNP France 8 Revenue breakdown by geography 7 Fem 7% 8 EMEAex Farc
Slide 17: Various Sources of Growth
Various Sources of Growth States willingness to improve the efficiency of healthcare system P e rforma nce -ba s e d pa y is ga ining popula rity a round the world Dematerialization of patient data Interoperability between electronic patients’ healthcare records Need for communication and
Slide 18: Healthcare Professionals
Healthcare Professionals H1 2012 Re ne we d growth in Ce ge le a s e ’s a ctivity continue in Q2 following a s trong Q1 RNP : Difficult a dve rtis ing ma rke t Fine pe rforma nce from Ce ge dim He a lthca re S oftwa re drive n principa lly by the compute riza tion of P ha rma cis ts in Fra
Slide 19: Flows and Electronic Payments Services
Flows and Electronic Payments Services IT for Healthcare Insurers (in terms of people covered) _B ( ie Electronic Reimbursement Platform Heke noe * (in terms of people covered) America 0% D APAC 0% EBIT margin
Slide 20: Various Sources of Growth
Various Sources of Growth A market increasingly attractive and a growing competition Ne e d for productivity ga ins Ne e d for diffe re ntia tion Heavy regulatory burden Conce ntra tion a mong pla ye rs P ote ntia l for outs ourcing a nd de ve lopme nt of ne w s e rvice s The creation
Slide 21: Insurance & Services
Insurance & Services H1 2012 P e rs ona l ins ura nce compa nie s ’ he s ita ncy in the s e cond qua rte r P os itive impa ct from fa vora ble de ve lopme nts in online third-pa rty pa ye r ma na ge me nt s e rvice s Future growth will be fue lle d by e xpa nding the s e offe rings S trong
Slide 22: Finance June 30, 2012
Finance June 30, 2012 7,350,046 52.51% 12,215,883 2,102,061 11.17% 100.00 % Debt Revenue Net Financial Debt €458.6me453.3m €453.3nee 2m 1.2% €453.3m €68.3m €471.2m
Slide 23: A resilient top line performance
A resilient top line performance (in million of e uros ) H1-2012 Cons olida te d Group Re ve nue Bus ine s s s ta bilizing following the s ha rp de cline in mid 2011 H1 2012 is on a pa r with H2 2011 de s pite ne ga tive s e a s ona l impa ct S a tis fa ctory Q1. Q2 wa s hit by we a ke r e con
Slide 24: CRM & Strategic Data: Southern Europe situation
The situation in Southern European countries (11% of s e ctor re ve nue ), re ma ins difficult Eme rging countrie s a re s till ra pidly e xpa nding with a nota ble ra mp-up in China P os itive impa ct s ta rting in H2 2012 of contra cts s igne d in 2011 Ce ge dim continue s to de live r a s
Slide 25: Healthcare Professionals: renewed Cegelease growth
Renewed growth in Ce ge le a s e ’s a ctivity continue in Q2 RNP : Difficult a dve rtis ing ma rke t. Fine pe rforma nce from Ce ge dim He a lthca re S oftwa re , drive n principa lly by the compute riza tion of P ha rma cis ts in the UK Doctors in Fra nce Ce ge dim s hould continue to b
Slide 26: Insurance & Services: insurers' hesitancy in Q2
Personal insurance companies’ hesitancy in the s e cond qua rte r due to the Fre nch e le ction a nd the we a ke r e conomic conditions . P os itive impa ct from fa vora ble de ve lopme nts in online third-pa rty pa ye r ma na ge me nt s e rvice s Future growth will be fue lle d by e xpa nding
Slide 27: Consolidated P&L
Consolidated P&L From revenue to operating profit (in million of e uros ) in € millions H1 2012 H1 2011 ∆ Revenue 453.3 458.6 -1.2% Capitalized production 24.8 22.5 +10.1% I nves t m ent in R & D Purchases used -52.1 -49.0 +6.4% m aint ained External expenses -119.2 -121.6 -2.0% Payroll costs -228.8
Slide 28: Profit by semester
Profit by semester (a s a % of s a le s ) EBITDA 2009 2010 2011 2012 1st Half 19.6% 18.7% 16.4% 15.1% 2nd Half 21.0% 19.0% 16.5% n.a. Full Year 20.3% 18.8% 16.5% na. EBIT 2009 2010 2011 2012 1st Half 12.5% 11.3% 9.0% 8.3% 2nd Half 13.1% 12.0% 9.3% n.a. Full Year 12.8% 11.6% 9.2% n.a. | Group | CRM &
Slide 29: Profit by sector
Profit by sector (a s a % of s a le s ) EBIDTA ma rgin pe r S e ctor EBITDA H1 2011 H2 2011 2011 H1 2012 CRM & Strategic Data 8.2% 15.3% 11.8% 7.6% Healthcare Professionals 28.5% 15.7% 22.6% 24.2% Insurance & Services 21.8% 22.6% 22.2% 21.6% Cegedim 16.4% 16.6% 16.5% 15.1% EBIT* ma rgin pe r S e cto
Slide 30: Performance Improvement Program
Performance Improvement Program Cos t-cutting e fforts in orde r to ke e p s te p with the s e cula r tre nds in globa l ma rke t €8 millions of restructuring cost taken in 2011 with €5 millions in H1 2012 The plan is extended into the second half of the year Confidence to maintain fix cost co
Slide 31: Consolidated H1 2012 P&L
Consolidated H1 2012 P&L From operating profit to net profit excluding non-recurring items (in million of e uros ) in € millions H1 2012 H1 2011 ∆ EBIT before non-recurring items 37.6 41.4 (9.2%) R el at ed t o t h e Per f o r m anc e Non-recurring items (2.0) (2.7) n.s. I m pr o vem ent Impairment
Slide 32: A cash flow-generating model
A cash flow-generating model | Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | > Finance 32 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 33: H1 2012 Balance Sheet
H1 2012 Balance Sheet (in millions of e uros ) | Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | > Finance 33 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 34: H1 2012 Cash evolution
H1 2012 Cash evolution Cla s s ica l ne ga tive s e a s ona l impa ct on WCR in H1 vs H2 | Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | > Finance 34 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 35: Outlook
Outlook (1) Economic environment will remain tough in H2 2012 The Performance Improvement Program is extended into the H2 2012 No plan to make further acquisitions by the end of the year 2012 Outlook (1) The ta rge t for 2012 is to a chie ve a s lightly incre a s e in re ve nue combine d w
Slide 36: Acquisition & Disposal YTD
Acquisition & Disposal YTD Le a ding Fre nch ma nufa cture r of pha rma ce utica l le a fle ts Dis pos a l on April 30, 2012 2011 Re ve nue : €6,7m 2011 EBITDA: €73k Fra nce ’s fourth-la rge s t publis he r of pha rma cis t s oftwa re Acquis ition on J uly 2012 2011 Re ve nue : €9m P
Slide 37: Cegedim has no refinancing pressure in medium term
Cegedim has no refinancing pressure in medium term (a s of J une . 30,2012) Ne t De bt S tructure a nd Ge a ring Gros s de bt by s ource of fina ncing in € millions Jun. 2012 Dec. 2011 Jun. 2011 Dec. 2010 Jun. 2010 Total Equity 430.9 516.2 449.0 480.3 559.8 Net Financial Debt 471.2 453.3 475.3 461.6
Slide 38: Significant Capital to execute Our Strategy
Significant Capital to execute Our Strategy | Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | > Finance 38 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 39: Compliance with bank covenants
Compliance with bank covenants Ba nk Cove na nts Re ce nt cre dit e ve nts In J une 2011, s ucce s s ful re fina ncing of the s yndica te d loa n S ha re holde r loa n: ma turity e xte ns ion to J une 2016 S &P ’s ra ting : B, ne ga tive wa tch Le ve ra ge (1) ra tio Cove ra ge (1) ra tio 7.3
Slide 40: A Resilient Core Business and a Solid Financial Profile
A Resilient Core Business and a Solid Financial Profile Steady Business Profile Re curring re ve nue s re lying mos tly on a s ubs cription ba s e d mode l (≈65% of re ve nue ) Dive rs ifica tion (bus ine s s , ge ogra phy, cus tome r) Critica l s ize with s trong ma rke t s ha re in a ll bu
Slide 41: Appendix
Hard copy only ~, ) Appendix
Slide 42: An Award Winning Company
An Award Winning Company The Grand Prix for Financial Transparency Grand Prix of Transparency “The prize have been awarded in recognition for the best practices in regulated financial reporting. It pay tribute to the listed French companies that have demonstrated their ability to make use of the b
Slide 43: An Award Winning Company
An Award Winning Company IDC Pharmaceutical SFA MarketScape What IDC Says About Cegedim “Ce ge dim’s a pplica tion ra nks a mong the be s t a va ila ble for bre a dth of functiona lity, us e r inte rfa ce a nd functiona l fle xibility…” “Ce ge dim offe rs a comple te line of de ployme nt options (
Slide 44: Details of covenant calculation
Details of covenant calculation a s of J une 2012 Details of Adjusted Net Financial Debt Calculation In € thousands From July From Relevant 1st to January 1st Period December to 30th June 31th 2011 2012 Consolidated EBIT 37,249 (79,432) (42,183) Impairment of goodwill - 115,000 115,000 Consolidated
Slide 45: Cegedim and the Financial Market
Cegedim and the Financial Market a s of 09/19/2012 | Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | > Finance 45 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 46: IR
IR | Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | > Finance 46 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 47: 2012 Finance agenda
2012 Finance agenda | Group | CRM & S tra te gic Da ta | He a lthca re P rofe s s iona ls | Ins ura nce & S e rvice s | > Finance 47 This document should not be distributed without Cegedim authorization – Copyright 2012
Slide 48: We welcome your questions and comments
We welcome your questions and comments Jan Eryk UMIASTOWSKI ih. di Chief Investment Officer ma cegedim Head of Investor Relations janeryk.umiastowski@cegedim.com www.cegedim.com/finance TEL: +33 (0) 1 49 09 33 36