Cegedim Sa · EURONEXT:ALCGM
Cegedim Sa — H1 2026 Earnings Presentation
24 slides from Cegedim Sa's earnings presentation, Sep 24, 2026
Slide 1: H1 Earnings 2026
H1 Earnings 2026 September 24, 2026
Slide 2: Disclaimer
Disclaimer 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 th
Slide 3: Cegedim Group
Shareholding as of 31/08/2026 Cegedim Group FCB 61.1% Public 36.2% Cegedim SA 2.7% Revenue annual growth 2021 - 2025 +5.5% (cagr) Founded in 1969, Cegedim is an innovative technology and services group in the field of 10,0% digital data flow management for healthcare ecosystems and B2B, and a busine
Slide 4: Cegedim Group
Cegedim Group A leading integrated player in healthcare, with a unique A strong European presence ecosystem © Cegedim 2026 4
Slide 5: AI Strategy: a practical range of services
AI Strategy: a practical range of services Key Areas for development • Equipping our development factory • Improving our internal productivity • Integrating AI into our offerings © Cegedim 2026 5
Slide 6: H1 Group earnings
H1 Group earnings © Cegedim 2026 6
Slide 7: The big picture
The big picture Adjusted Specific items Revenue Operating affecting Income operating €324.8m income +€2.3m €19.7m +0.7% +0.8% -€2.4m -€9.0m reported Like-for-Like +6.9% +€1.2m H1 2026 H1 2025 Employees Net debt Operating FCF Excl. IFRS 16 6 492 €58.9m €150.4m +€2.3m -17.3% -€31.4m -1.7% -113 H1 2026
Slide 8: R&D Investment
R&D Investment Impact on Adjusted Capitalized R&D D&A of R&D Operating Income change -0.9% +2.7% -€0.2m +€0.6m €25.0m €24.8m €24.4m Capitalized R&D -€0.2m D&A of R&D -€0.6m Impact on Adjusted -€0.8m Operating Income change H1 2025 H1 2026 H1 2025 H1 2026 © Cegedim 2026 8
Slide 9: Payroll costs
Payroll costs Payroll costs Headcount Offshore -0.8% -1.7% -€1.5m -113 employees Offshore 28.2% €176.4m €174.9m 6 605 -111 -2 6 492 Onshore 71.8% H1 2025 H1 2026 June 2025 June 2026 © Cegedim 2026 9
Slide 10: P&L
P&L Change Change in millions of euros H1 2026 H1 2025 % m€ Revenue 324.8 322.5 +0.7% +2.3 Purchase used -14.2 -13.3 +6.5% -0.9 External expenses -66.6 -67.7 -1.6% +1.1 Payroll costs -174.9 -176.4 -0.8% +1.5 Others -7.1 -3.9 +83.0% -3.2 Adjusted EBITDA 62.0 61.2 +1.3% +0.8 Adjusted EBITDA margin 19.
Slide 11: Free Cash Flow
Free Cash Flow in millions of euros H1 2026 H1 2025 Net Debt Net income, Group share 4.2 0.1 Excl. IFRS 16 Depreciation and amortization expenses and provisions 42.2 49.1 Cost of net financial debt 9.6 8.2 H1 2025 Share of earnings from equity method companies ; tax expenses; capital losses or gains
Slide 12: Balance sheet
Balance sheet Assets Shareholders equity & liabilities in millions of euros June 2026 Dec 2025 in millions of euros June 2026 Dec 2025 Goodwill 238.7 234.1 Shareholder equity 296.9 291.8 Intangible assets 184.4 183.4 Tangible assets 164.6 158.7 Long-term financial debt 219.5 221.0 Financial assets 2
Slide 13: Financing
Financing Financing June 30. 2026 Drawn Total amount Maturity Bank Loan €171.0m €171.0m 2031 Shareholder loan €51.3m €51.3m 2031 RCF - €50.0m 2029 © Cegedim 2026 13
Slide 14: H1 earnings by Business Unit
H1 earnings by Business Unit © Cegedim 2026 14
Slide 15: Our Business Units
Our Business Units Health and Provident Business Services Insurance E-invoicing and procurement Software for supplementary health and provident insurers Healthcare flows Flow. Third party payment. Payroll and HR solutions and outsourced management and other services Cloud services & Suppor
Slide 16: Health & Provident Insurance
Health & Provident Insurance 25.9% €84.1m Adj.EBIT €7.1m Adj.EBIT margin 8.5% of H1 2026 revenue H1 2026 revenue H1 2026 €84.1m H1 2026 Revenue +0.7% reported Adj.EBIT +0.8% LfL Adjusted Software €31.1m Operating Change Adj.EBIT +0.1% reported Income 2026 / 2025 margin +0.5% LfL (Adj.EBIT) €23.0m Th
Slide 17: Business Services
Business Services 29.5% €95.7m Adj.EBIT €14.9m Adj.EBIT margin 15.6% of H1 2026 revenue H1 2026 revenue H1 €95.7m H1 2026 Adj.EBIT 2026 +4.2% reported +4.3% LfL Revenue Adjusted €50.0m Operating Change 2026 Adj.EBIT Software +4.6% reported Income / 2025 margin +4.6% LfL (Adj.EBIT) 2026 2025 m€ % 202
Slide 18: Healthcare Professionals
Healthcare Professionals 19.9% €64.7m Adj.EBIT -€6.8m Adj.EBIT margin -10.5% of H1 2026 revenue H1 2026 revenue H1 2026 Adjusted €64.7m H1 2026 Operating Change Revenue -1.2% reported Adj.EBIT Adj.EBIT margin -1.2% LfL Income 2026 / 2025 (Adj.EBIT) 2026 2025 m€ % 2026 2025 Cegedim €37.7m in millions
Slide 19: Data & Marketing
Data & Marketing 20.0% €65.1m Adj.EBIT €6.1m Adj.EBIT margin 9.3% of H1 2026 revenue H1 2026 revenue H1 2026 €65.1m H1 2026 Revenue +2.6% reported Adj.EBIT +2.6% LfL Adjusted Operating Change 2026 / Adj.EBIT €29.1m Data +1.1% reported Income 2025 margin -1.2% LfL (Adj.EBIT) 2026 2025 m€ % 2026 2025
Slide 20: Cloud & Support
Cloud & Support 4.7% €15.2m Adj.EBIT -€1.6m Adj.EBIT margin -10.5% of H1 2026 revenue H1 2026 revenue H1 2026 €15.2m H1 2026 Revenue -16.4% reported Adj.EBIT -16.2% LfL Adjusted Operating Change 2026 Adj.EBIT Income / 2025 margin (Adj.EBIT) Cloud & 2026 2025 m€ % 2026 2025 Support in millions of eur
Slide 21: Outlook 2026
Outlook 2026 Revenue Recurring Operating Income & Like-for-Like Operating Income growth above 2 % Expected to increase Disclosure: Based on currently available information. The Group does not provide earnings estimates or forecasts. © Cegedim 2026 21
Slide 22: Financial agenda
Financial agenda 2026 October 22 After the market closes Q3 2026 Revenue © Cegedim 2026
Slide 23: Q&A
cegedim © Cegedim 2026 Q&A 23
Slide 24: Thank you
Thank you For more information: Investors.relations@cegedim.com