Cegedim Sa · EURONEXT:ALCGM
Cegedim Sa — H1 2026 Earnings Presentation
31 slides from Cegedim Sa's earnings presentation, Sep 25, 2026
Slide 1: SFAF meeting H1 2026 earnings
SFAF meeting H1 2026 earnings September 25, 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: Contents
Contents Presentation of the Group and its BUs p 4 H1 Group earnings p 13 H1 earnings by Business Unit p 21 Outlook & agenda p 27 © Cegedim 2026 3
Slide 4: Presentation of the Group and its BUs
Presentation of the Group and its BU © Cegedim 2026 4
Slide 5: 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 6: Cegedim Group
Cegedim Group A leading integrated player in healthcare, with a unique A strong European presence ecosystem © Cegedim 2026 6
Slide 7: 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 7
Slide 8: Health & Provident Insurance
Health & Provident Insurance 25.8% of FY 2025 Revenue 1,810 28% of employees Revenue annual growth 2021 - 2025 +7.9% (cagr) 20,0% The Insurance Business Unit comprises Cegedim Assurances in France and Cegedim Insurance Solutions in the United Kingdom. 15,0% • Cegedim Assurances houses the Group’s so
Slide 9: Business Services
Business Services 28.0% of FY 2025 Revenue 1 848 28% of employees Revenue annual growth 2021 - 2025 +9.4% (cagr) 200,0 20,0% Cegedim Business Services specializes in three fields: 150,0 13,7% 14,3% 15,0% Enhancing HR efficiency: Payroll & Human Resources solutions; 12,5% 12,1% 11,7% Digitizing p
Slide 10: Healthcare Professionals
Healthcare Professionals 20.5% of FY 2025 Revenue 1,612 25% of employees Revenue annual growth 2021 - 2025 -2.9% (cagr) The Healthcare Professionals Business Unit specifically targets:: 10,0% • doctors and healthcare centers (France, Belgium, Spain, Italy, Chile); 5,0% • paramedical professionals: p
Slide 11: Data & Marketing
Data & Marketing 19.7% of FY 2025 Revenue 464 7% of employees Revenue annual growth 2021 - 2025 +6.7% (cagr) 20,0% 16.8% 13.9% Data & Marketing encompasses the following activities : 14.8% 13.1% 13.5% 15,0% • data and analysis for the healthcare market, aimed at health authorities, healthcare profes
Slide 12: Cloud & Support
Cloud & Support 6.0% of FY 2025 Revenue 753 12% of employees Revenue annual growth 2021 - 2025 +11.0% (cagr) • The Cloud & Support division primarily provides support to the various business units, and also offers sovereign cloud solutions, IT services and cybersecurity services to all types of cust
Slide 13: H1 Group earnings
H1 Group earnings © Cegedim 2026 13
Slide 14: 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 15: 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 15
Slide 16: 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 16
Slide 17: 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 18: 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 19: 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 20: 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 20
Slide 21: H1 earnings by Business Unit
H1 earnings by Business Unit © Cegedim 2026 21
Slide 22: 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 23: 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 24: 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 25: 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 26: 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 27: Outlook & agenda
Outlook & agenda © Cegedim 2026 27
Slide 28: 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 28
Slide 29: Financial agenda
Financial agenda 2026 October 22 After the market closes Q3 2026 Revenue © Cegedim 2026
Slide 30: Q&A
cegedim © Cegedim 2026 Q&A 30
Slide 31: Thank you
Thank you For more information: Investors.relations@cegedim.com