Slide 1: Q1-2013 Earnings Release
Q1-2013 Earnings Release
Slide 2: Forward-looking statements
This presentation contains forward-looking statements (made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995). By their nature, forward- looking statements involve risk and uncertainty. Forward-looking g statements represent p the company's judgment reg
Slide 3: Copyright notice
This document should not be distributed with hout Cegedim authorization – Copyright 2013 3
Slide 4: Q1-2013: Key Take Aways
Q1-2013: Key Take Aways This document should not be distributed with hout Cegedim authorization – Copyright 2013 4
Slide 5: Margin Improvement target in 2013
Margin Improvement target inn 2013(1) For 2013, barring any sign nificant changes in market trends, the Group reiterates its targets: Revenue growth of arround 2%(2) A 50 basis point incre inc ease e in the operating ope ating margin from recurring g operations (1) These projections are as pub
Slide 6: Q1-2013: Margin Improvement
Q1-2013: Margin Improvemennt Positive impact from the Perfformance Improvement Program implemented in 2011 and 2012 This document should not be distributed with hout Cegedim authorization – Copyright 2013 6
Slide 7: EBITDA increased by 24%
EBITDA increased by 24% Organic growth of 0.1%; Change negative currency impact in € millions Q1 2012 Q1 2013 i €m in € i % in of f 0.9%% Revenue 214.2 212.9 (1.3) (0.6)% Expenses (198.5) (193.4) (5.1) (2.6)% EBITDA 15.7 19.5 3.8 24.2% Increase of amortization of margin 7.3% 9.1% 184bps certain R&
Slide 8: Division Overview
Division Overview Reduction in overall operat ting costs in all divisions This document should not be distributed with hout Cegedim authorization – Copyright 2013 8
Slide 9: CRM & Strategic Data
CRM & Strategic Data Organic growth of -3.0%; Change g negative currency impact of i € millions in illi Q1 2012 Q1 2013 1.4%; % negative ti impact i t of f 1.4% % in €m in % from Pharmapost disposal Revenue 111.1 104.6 (6.5) (5.8)% Expenses (114.0) (106.1) (7.9) (6.9)% EBITDA (2.9) (1.5) 1.4 49.6%
Slide 10: Healthcare Professionals
Healthcare Professionals Organic growth of 3.3%; in € millions Q1 2012 Q1 2013 Change negative currency impact of in €m in % 0.5%; 5% positive sitiv impact i t of f 2.7% 7% from ASPLine acquisition Revenue 67.3 71.0 3.7 5.6% Expenses (53.8) (58.2) (4.4) (8.2)% EBITDA 13.5 12.8 (0.7) (4.9)% margin
Slide 11: Insurance & Services
Insurance & Services Change in € millions Q1 2012 Q1 2013 in €m in % Organic growth of 3.8% 3 8% Revenue 35.8 37.2 1.4 3.8% Expenses (30.7) (29.1) (1.6) (5.4)% EBITDA 5.1 8.1 3.0 59.9% margin i 14 1% 14.1% 21 7% 21.7% 762b 762bps D&A (3.1) (3.3) 0.2 7.5% EBIT before special items 1.9 4.7 2.8 143.8
Slide 12: Q1-2013 P&L from operating profit to net profit
Q1-2013 P&L from operating profit to net profit Change in € millions Q1 2012 Q1 201 13 in €m in % EBIT (1.5) 1.7 3.2 n.m. Income from cash and cash equivalents 0.3 0.1 0 (0.2) (57.8)% Gross cost of financial debt (8.5) (18.6) (10.1) 119.0% Other financial income and expenses (3.1) (3.2) (0.1) 3.3%
Slide 13: Q1-2013 Simplified Balance Sheet
Q1-2013 Simplified Balance Sheet S Positive currency Significant Si ifica t llevel v l of f impact shareholder's equity Increase I c as iin ddebt bt Substantial reflect the cash available issuance costs related to the M Marchh refinancing fi i This document should not be distributed with hout Cege
Slide 14: Q1-2013 Net Debt Evolution
Q1-2013 Net Debt Evolution (in ( millions of euros) Flexible dividen nd and capex policy This document should not be distributed with hout Cegedim authorization – Copyright 2013 14
Slide 15: Capital Structure Evolution
Capital Structure Evolution 9 New Bond Issued 9 Tender Offer on 2015 Bond Issuer Cegedim S.A. Repurchased price: 108% Issue Senior unsecured notes Amount repurchased: €111.5m Principal amount €300m Including accrued and unpaid Currency EUR interest: €121.5 million Maturity 7 years (2020) €
Slide 16: Capital Structure
Capital Structure 9 Capital p Structure 9 Gross Debt by y Source of Financing g 9 Credit Rating April 26, 2013: B+, Stable Outlook March 11, 2013: B, Positive credit watch October 9, 2012: B, Stable outlook This document should not be distributed with hout Cegedim authorization – Copyright 2
Slide 17: Maturity Profile
Maturity Profile €80 RCF undrawn €80m u dra as of f March 31, 31 2013 €300m €169m €45m 2013 2014 2015 2016 2017 2018 2019 2020 2015 Bond FCB Loan 2020 Bond in € millions Princing 2013 2014 2015 2016 2017 2018 2019 2020 Total RCF of €80m E1M+300bps ‐ ‐ ‐ ‐ 0 2015 Senior Notes 7.00% ‐ ‐ 169 169 2020
Slide 18: A Rising Credit Rating
A Rising Credit rating This document should not be distributed with hout Cegedim authorization – Copyright 2013 18
Slide 19: Conclusion
Conclusion This document should not be distributed with hout Cegedim authorization – Copyright 2013 19
Slide 20: Agenda
Agenda July 30th t , 2013 Q2 2013 Revenue R v u 9The Q1 Report This Document includes the Q1 2013 financial statements andd the th managementt report. This document should not be distributed with hout Cegedim authorization – Copyright 2013 20
Slide 21: Appendix
Appe endix
Slide 22: Revenue & Organic Growth Calculation
Revenue & Organic Growth Calculation C Q1 2013 Q1‐2013 Division 1 Division 2 Division 3 Group Q1 2012 Revenue a 111,092 67,296 35,817 214,205 Impact of disposals (1,547) 0 0 (1,547) Q1 2012 Revenue before impact Q p of disposals p , 109,545 67,296 , 35,817 , 212,658 , Currency impact (1,556) (322)
Slide 23: Revenue by Division and by Quarter
Revenue by Division and by Quarter Year 2013 Q1 Q2 Q3 Q4 Total CRM and Strategic Data 104,641 104,641 Healthcare Professionals 71,032 71,032 Insurance and Services 37,192 37,192 Cegedim 212,865 212,865 Year 2012 Q1 Q2 Q3 Q4 Total CRM and Strategic Data 111,092 126,106 111,113 139,834 488,145 Healt
Slide 24: Business Seasonality
Business Seasonality 9 Traditionally higher sales on software at a the end of the year 9 Spending of remaining operating budget 9 More use of data and market research ini Q4 due to the reorganization of sales force organization of new campaign, force, campaign annual a reporting reporting,… This d
Slide 25: Well-Balanced and Diversified Revenue Mix
Well-Balanced and Diversifieed Revenue Mix 9 Revenue Breakdown as of December 2012 Diversified revenue mix provide stable revenue base 9 Revenue Visibility 9 Low Customer Concentration Multi-Brand Strategy First client: 4.6% of Group revenue Strongg recurring g revenue model Topp 5 client:
Slide 26: 2013 Financial Agenda
2013 Financial Agenda This document should not be distributed with hout Cegedim authorization – Copyright 2013 26
Slide 27: 3 Divisions Serving 3 Types of Customers
3 Divisions Serving 3 Types of Customers Based on FY 2012 figures This document should not be distributed with hout Cegedim authorization – Copyright 2013 27
Slide 28: Cegedim's Strengths
Cegedim’s Strengths 9 Leading market positions in each off our divisions 9 High barriers to entry 9 Recognized portfolio of innovative and a integrated solutions 9 Stable and diversified customer bas se 9 Strong presence along the healthca are value chain 9 Long-standing shareholder supportt and e
Slide 29: Keep in Touch with Cegedim
Keep in Touch with Cegedim This document should not be distributed with hout Cegedim authorization – Copyright 2013 29
Slide 30: We Welcome your questions and comments
We we W elcome l your questions ti and d comments t Jan Eryyk UMIASTOWSKI Chief In n estment Officer nvestment Head of Investor Relations Janeryk Ja e yk.umiastowski@cegedim.com u asto s @ceged co www.ceegedim.com/finance TEL: +3 33 (0) 1 49 09 33 36