Slide 1: Cegedim 2009 results and 2010 outlook
Cegedim 2009 results and 2010 outlook April 14th 2010 © Cegedim 2009 1
Slide 2: Contents
Contents A strategy focused on healthcare Jean-Claude Labrune, Chairman and CEO Delivering strong results Pierre Marucchi, Managing Director Additional information 2 © Cegedim 2010
Slide 3: Cegedim profile
Cegedim profile Customers: all players in the healthcare world Pharmaceutical and Life-Sciences companies Doctors, pharmacists and paramedics in Europe Insurers and healthcare mutual insurance companies in France Key figures €874 millions of revenue in 2009 65% of core business is recurring €805 mil
Slide 4: 2009 Financial snapshot
2009 Financial snapshot The number of shares used for this calculation is the weighted average number of common shares in issuance over the period, i.e. 9,480,237 shares at December 31, 2009, and 9,331,449 shares at December 31, 2008 4 © Cegedim 2010
Slide 5: A bit of history
A bit of history (*) Fonds Stratégique d’Investissement (FSI): Sovereign investor in key French companies own by the French government (49%) and the CDC (51%) 5 © Cegedim 2010
Slide 6: Cegedim and the external growth
Cegedim and the external growth Total acquisitions price in € million The M€180.5 December 2009 capital increase as well as the presence of the FSI as a new shareholder allows Cegedim to benefit from substantial resources in order to accelerate its dynamic external growth policy Cegedim intends to u
Slide 7: A strong and stable shareholder base
A strong and stable shareholder base Board of directors: Extended to 10 directors on January 2010 7 © Cegedim 2010
Slide 8: A strategy focused on healthcare activities
A strategy focused on healthcare activities 8 © Cegedim 2010
Slide 9: CRM
CRM Cegedim Dendrite: = CRM solutions = CRM hosting & services a Marketing solutions = Compliance solutions OneKey & other associated databases =E cegedim 9 ] © Cegedim 2010 -
Slide 10: CRM and Strategic data
CRM and Strategic data 10 © Cegedim 2010
Slide 11: Opportunities in the Pharma market
Opportunities in the Pharma market 11 © Cegedim 2010
Slide 12: Huge growth potential in CRM
Huge growth potential in CRM Huge growth potential 12 © Cegedim 2010
Slide 13: Cegedim key strengths
Cegedim key strengths 13 © Cegedim 2010
Slide 14: OneKey: The SK&A acquisition in January 2010
OneKey The SK&A acquisition in January 2010 The best CRM business acquisition ever made by the Group of all of its history The best U.S. database offer of health professionals The data production process in line with Cegedim quality standards More than 2 million health professionals, regulary update
Slide 15: CRM Highlights and Outlook
CRM Highlights and Outlook Renewal of existing contracts New signature despite mergers Strong growth in emerging markets Positive welcome to the Cegedim model (Services model vs Licenses model) Expanding our offers • OneKey • Compliance in Europe • Couterfeit • Business intelligence (Reportive V9) •
Slide 16: Strategic data
Strategic data 16 © Cegedim 2010
Slide 17: Strategic data Highlights and Outlook
Strategic data Highlights and Outlook A difficult year marked by a temporary stopping of customer orders A year of investment in the redesign of our production tools and in creation of new products Very good success in safety studies Great confidence in recovery 17 © Cegedim 2010
Slide 18: Healthcare professionals
Healthcare professionals 18 © Cegedim 2010
Slide 19: Healthcare professionals
Healthcare professionals 19 © Cegedim 2010
Slide 20: Healthcare professionals: Growth factors
Healthcare professionals Growth factors States willingness to improve the efficiency of healthcare system Dematerialization of patient data Interoperability between electronic patients’ healthcare records Need for communication and exchange within the world of health Qualitative improvement of medic
Slide 21: Healthcare professionals Highlights and outlook
Healthcare professionals Highlights and outlook Set-up of Cegedim Healthcare Software Strengthening of synergies at technical level (web version) Successful development of electronic patients’ records in Italy and Spain Involvement in the European community EPSOS projects (eHealth project) Expansion
Slide 22: CLM RMI innovative products
CLM RMI innovative products BioRescue : Evaluation and rehabilitation solution of mobility on “baropodometric” platform for physical therapy and physical medicine BioVal : Gesture analysis system with inertial platform (accelerometer, magnetometer, and gyroscope) Applications in fields as varied as:
Slide 23: Healthcare professionals Highlights and outlook
Healthcare professionals Highlights and outlook Interoperability agreement in UK with EMIS and RiO system SIN SAMU: National Health Information System dedicated to emergency Expansion of Banque Claude Bernard (Countries, products, platform) RNP • The unquestionable French benchmark for POS (Point of
Slide 24: Insurance and services
Insurance and services 24 © Cegedim 2010
Slide 25: Insurance and services
Insurance and services ^p 25 © Cegedim 2010
Slide 26: Insurance and services Highlights and outlook
Insurance and services Highlights and outlook A market increasingly attractive and a growing competition • Need for productivity gains • Need for differentiation Heavy regulatory burden • Concentration among players • Potential for outsourcing and development of new services 26 © Cegedim 2010
Slide 27: Healthcare Insurance offer
Healthcare Insurance offer 27 © Cegedim 2010
Slide 28: Highlights and outlook: Our assets
Highlights and outlook Our assets Present from the professional healthcare desk to insurers back office through outsourced management platforms Leader in each of its bricks • Technological solutions • Outsourcing of business processes (including electronic payment) 2009 is characterized by Important
Slide 29: 2010 Financial outlook
2010 Financial outlook Continue our organic growth Achieve highly targeted acquisitions and complementary for our existing activities Increasing our investment in future products Ensuring a growth of 2010 revenue between 4 and 5% 29 © Cegedim 2010
Slide 30: Delivering strong results
Delivering strong results 30 © Cegedim 2010
Slide 31: Financial information: Well balanced and diversified revenue mix
Financial information Well balanced and diversified revenue mix Good revenue visibility Strong recurring revenue model Multi-year contracts High switching costs Strong customer loyalty 31 © Cegedim 2010
Slide 32: A robust growth of 4.3% in 2009
A robust growth of 4.3% in 2009 (*) at constant scope and exchange rates. 32 © Cegedim 2010
Slide 33: 2009 Summarized income statement
2009 Summarized income statement 33 © Cegedim 2010
Slide 34: 2009 Group margin
2009 Group margin (*) Restatement carried out in accordance with credit documentation 34 © Cegedim 2010
Slide 35: 2009 Operating margin by sector
2009 Operating margin by sector (*) Operating profit restated with exceptional charges (IFRS) and restructuring and integration costs 35 © Cegedim 2010
Slide 36: 2009 Consolidated Balance Sheet
2009 Consolidated Balance Sheet 36 © Cegedim 2010
Slide 37: Sound financial position
Sound financial position 37 © Cegedim 2010
Slide 38: Consolidated cash flow (EUR millions)
Consolidated cash flow (EUR millions) 38 © Cegedim 2010
Slide 39: A cash flow generating model
A cash flow generating model 39 © Cegedim 2010
Slide 40: Dividend per share
Dividend per share (*) Amount proposed to the June 8th, 2010 Shareholders’ meeting 40 © Cegedim 2010
Slide 41: Cegedim share ID
Cegedim share ID 41 © Cegedim 2010
Slide 42: 2010 Agenda
_ 2010 Agenda | ay January 8 | February 11 | ; April 13 Shareholders 9009 revenue 2009 Annual general meeting ~ results / Ma ‘April 14 . August 5 SFAF Meeting 2010 Q1 revenue 2010 Q2 revenue " September 23 " Septembre 24 ' November 15 2010 Half-year results 2010 Q3 revenue SFAF Meeting = cegedim 42
Slide 43: Additional information
Additional information 43 © Cegedim 2010
Slide 44: 2009 Income statement
2009 Income statement 2009 2008 Revenues 874,072 848,577 Capitalized production 32,631 33,502 Purchases used -104,565 -84,825 External expenses -208,642 -229,152 Taxes -12,561 -12,281 Payroll costs -401,496 -394,643 Depreciation expenses -66,328 -67,864 Allocations to and reversals of provisions -1,
Slide 45: 2009 Balance sheet
2009 Balance sheet ASSETS 2009 2008 LIABILITIES 2009 2008 Goodwill on acquisition 613,342 613,709 Share capital 13,337 8,891 Development costs 57,644 44,446 Issue premium 185,562 14,981 Trademarks, patents 104,810 109,519 Group reserves 249,732 213,570 Other intangible assets 63,192 55,611 Group tra
Slide 46: 2009 Cash flow statement
2009 Cash flow statement 2009 2008 Consolidated net earnings 54,833 33,487 Share of earnings from equity method companies -357 60 Depreciation and provisions 70,190 70,334 Capital gains or losses on disposals 996 -5,924 Cash flow after net financial debt expense and taxes 125,662 97,957 Cost of net