Slide 1: 2017 Results
me cegedim 2017 Results Webcast - SFAF Meeting 20 - 21 March 2018
Slide 2: Caution Concerning Forward-Looking Statements
Caution Concerning 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
Slide 3: Agenda
Agenda Vision Strategy Finance Appendices 3 © cegedim 2018
Slide 4: Vision
Jean-Claude Labrune Vision Chairman and CEO
Slide 5: Cegedim Vision
CEGEDIM VISION Data .. BPO -Telemedicine
Slide 6: Numerous Opportunities
NUMEROUS OPPORTUNITIES
Slide 7: Strategy
Laurent Labrune Strategy Managing Director
Slide 8: Investing in Business Model Transformation
“2017 Results Portfolio Investing in Business Model Management Innovation Transformation aS = Da © cegedim 2018
Slide 9: Portfolio Management
© cegedim 2018 “2017 Results Portfolio Management Divestments: ¢ CRM and Strategic Data * Cegelease Acquisitions: ¢ Activus ¢ Nightingale ¢ Futuramedia ¢ B.B.M ¢ Adaptive apps
Slide 10: Cegelease and Eurofarmat Disposal
2017 Results The Cegelease and Eurofarmat subsidiaries operate principally in the financial domain, are highly valued, and require additional resources to continue pursuing and accele- rating their develop- ment for the benefit of their clients and em- ployees. © cegedim 2018 FRANFINANCE Six-year co
Slide 11: Investing in Innovation
© cegedim 2018 “2017 Results Investing in Innovation Capitalized R&D: ¢ H2-17: €22.0m ¢ H1-17: €22.5m==Siabilization = © H2-16: €22.0m © H1-16: €18.7m —oncan’ increase © H2-15: €15.5m © H1-15: €12.7m
Slide 12: Business Model Transformation
“2017 Results Business Model Transformation © cegedim 2018
Slide 13: Group Revenue and EBITDA Margin
2017 Results 2016 2017 2016 2017 GROUP REVENUE EBITDA MARGIN IFRS-5 IFRS-5 © cegedim 2018
Slide 14: © cegedim 2018
“2017 rccULATION BPO ii E-BUSINESS 120,000 connected paramedics
Slide 15: © cegedim 2018
“2017 Results @ BPO) Uist oe DANA REGULATION ute @s SaaS 15 Digital . “ Data = PO
Slide 16: Finance
Pierre Marucchi Finance Managing Director IFRS 5 Cegedim announced on December 14, 2017 that it had signed a contract for the definitive sale of its Cegelease and Eurofarmat businesses. As a result, the consolidated 2017 financial statements are presented according to IFRS 5, “Non-current assets hel
Slide 17: FY 2017: Return to the 2015 Level
FY 2017: Return to the 2015 Level In € million FY 15 FY 16 FY 17 Revenue 426.2 440.8 470,4 EBITDA 78.5 61.4 83.3 EBITDA margin 18.4% 13.9% 17.7% R&D Capitalized 28.2 40.6 44.6 Cash flow before taxes and interest 76.0 57.5 85.9 Net cash flow from operating activities 39.8 58.6 73.5 17 © cegedim 2018
Slide 18: Impact of Cegelease disposal
Impact of Cegelease disposal In € million FY 17 Cegelease FY 17 IFRS 5 Revenue 470.4 13.0 457.4 EBITDA 83.3 5.8 77.5 Margin 17.7% 44.3% 16.9% EBIT before special items 43.1 5.7 37.4 Margin 9.2% 44.0% 8.2% EBIT 24.3 5.7 18.5 Margin 5.2% 44.0% 4.1% Earnings 11.2 4.1 7.1 18 © cegedim 2018
Slide 19: FY 2017 Profit & Loss Statement
FY 2017 Profit & Loss Statement In € million FY 16 FY 17 % change Revenue 429.3 457.4 +6.6% EBITDA 57.4 77.5 +35.0% Margin 13.4% 16.9% +357bps D&A (34.3) (40.1) +17.0% EBIT before special items 23.1 37.4 +61.8% Margin 5.4% 8.2% +279bps Special items (24.1) (18.9) +(21.8)% EBIT (1.0) 18.5 n.m. Margin
Slide 20: 2017 Revenue from Continuing Activities Overview
2017 Revenue from Continuing Activities Overview 20 © cegedim 2018
Slide 21: 2017 Quarterly Organic Revenue Growth
2017 Quaterly Organic Revenue Growth 21 © cegedim 2018
Slide 22: Well diversified revenue source
Well diversified revenue source 22 © cegedim 2018
Slide 23: FY 2017 EBITDA Trend
FY 2017 EBITDA Trend 23 © cegedim 2018
Slide 24: 2017 H1 and H2 Performance
2017 H1 and H2 Perfomance 24 © cegedim 2018
Slide 25: 2017 BPO Revenue
“3017 2017 BPO Revenue Results BPO INSURANCE
Slide 26: Significant increase in Headcount
Significant increase in Headcount Between Jan. 2015 and Jun. 2017 26
Slide 27: FY17: From EBITDA to Net earnings
FY17: From EBITDA to Net earnings 27 © cegedim 2018
Slide 28: FY 2017 Profit & Loss Statement
FY 2017 Profit & Loss Statement In € million FY 16 FY 17 % change Revenue 429.3 457.4 +6.6% EBITDA 57.4 77.5 +35.0% Margin 13.4% 16.9% +357bps D&A (34.3) (40.1) +17.0% EBIT before special items 23.1 37.4 +61.8% Margin 5.4% 8.2% +279bps Special items (24.1) (18.9) +(21.8)% EBIT (1.0) 18.5 n.m. Margin
Slide 29: FY17 Health Insurance, HR & e-services P&L
HY 17 Health Insurance, HR & e-services P&L In € million FY 16 FY 17 % change Revenue 262.4 291.1 +10.9% EBITDA 43.9 48.1 +9.5% Margin 16.7% 16.5% (22)bps D&A (15.3) (19.7) +29.0% EBIT before special items 28.6 28.4 (0.9)% Margin 10.9% 9.7% (116)bps Special items (0.3) (2.4) n.m. This significant re
Slide 30: FY17 Healthcare Professionals P&L
HY 17 Healthcare Professionals P&L In € million FY 16 FY 17 % change Revenue 163.6 162.5 (0.7)% EBITDA 12.8 25.0 +95.4% Margin 7.8% 15.4% +756bps D&A (13.5) (14.6) +7.8% EBIT before special items (0.8) 10.4 n.m. Margin (0.5)% 6.4% +685bps Special items (14.9) (14.4) (3.1)% Revenue growth over the fu
Slide 31: FCF from Operations
FCF from Operations In € million FY 15 FY 16 FY 17 Cash flow before taxes and interests 76.0 57.5 85.9 Change in working capital requirement (24.1) 6.8 (10.6) Corporate tax paid (12.1) (5.7) (1.8) Net cash flow from operating activities 39.8 58.6 73.5 Acquisition of intangible assets (51.2) (46.6) (
Slide 32: FY2017 Net Debt Bridge
FY2017 Net Debt Bridge 32 © cegedim 2018
Slide 33: FY 2017 Balance Sheet
FY 2017 Balance Sheet In € million Dec. 16 Dec.17 Assets Goodwill 199.0 167.8 Intangible assets 139.4 145.8 Tangible assets 32.2 33.2 Financial assets 8.7 20.4 Trade receivables, long term portion 29.6 0.2 Other non-current assets 38.3 38.0 Cash & Cash equivalent 20.8 18.7 Trade receivables, short t
Slide 34: FY 2017 Balance Sheet
FY 2017 Balance Sheet 34 © cegedim 2018
Slide 35: FY 2017 Key Take Away
FY 2017 Key Take Away 35 © cegedim 2018
Slide 36: FY 2018 Cegedim Outlook
FY 2018 Cegedim Outlook Finance as of March 20, 2018
Slide 37: Potential Impact of Brexit
Potential Impact of Brexit • Cegedim operates in the UK in local currency, as it does in all the countries where it operates • No major European health program is at work in the UK Thus, the impact on the consolidated Group EBIT margin should be marginal 10.9% UK revenue as a share of 2017 consoli
Slide 38: Outlook: Prudently confident for 2018
Outlook: Prudently confident for 2018 • Today Cegedim is refocused on its strategic assets and positioned on growing markets with a balanced portfolio of complementary offerings and a diversified client base • Strategy focused primarily on ORGANIC GROWTH and driven by a SUSTAINED INNOVATION policy •
Slide 39: FY 2017 Revenue
FY 2017 Revenue n ® = Ss < ® 2 ror <x SOUCBUL
Slide 40: Shareholder Structure as of February 28, 2018
Shareholder Structure as of February 28, 2018 40 © cegedim 2018
Slide 41: 2018 Financial Calendar
2018 Financial Calendar 41 © cegedim 2018
Slide 42: Cegedim Key Metrics
Cegedim Key Metrics 42 © cegedim 2018
Slide 43: Cegedim Key Points
Cegedim Key Points 43 © cegedim 2018
Slide 44: Follow us
Follow us IR APP WEB SITE WEBCAST SOCIAL NETWORK 44 © cegedim 2018
Slide 45: Jan Eryk Umiastowski
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