Slide 1: FY 2015 Earnings
FY 2015 EARNINGS SFAF Meeting – March 24, 2016
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT 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 statements represent the compa
Slide 3: A Strategy Based on Innovation
A Strategy Based on Innovation • Successful strategic refocusing • New operational organization • Financial flexibility Continue investment • SaaS, Digital, Big Data Numerous opportunities • Government reforms • New technologies • Increasing complexity of medical knowledge • New ways of delivering h
Slide 4: Business Group Review
Business Group Review m cegedim
Slide 5: Our Clients, Our business
Our Clients, Our business Healthcare Not healthcare oe ap C) Physicians } Hospitals eon . J panies 220,000 1,000 83,000 over 200 | = = —_ = - Software - Supply chain - Software - Database - 2.5 million - Database - Payroll - Services orders in 2015 - Services - BPO - BPO - Supply chain - TAM - Digit
Slide 6: Roadmap for Profitable and Sustainable Growth
Roadmap for Profitable and Sustainable Growth 2018 • Full benefit of Group transformation • Well positioned for 2016 - 2017 coming years • Group Transformation 2015 - Management evolution • Disposal of the CRM - Organization change and Strategic Data - Significant investment division • Acquisition o
Slide 7: Cegedim Refocusing Market
Cegedim Market Growth + = Refocusing Transition Opportunity Innovating with BPO market changes SaaS Big Data Cloud Digital 7
Slide 8: Cegedim Investments
Cegedim Investments Product Update SaaS / Cloud BPO • Upgrades to • All new solutions will • Process efficiency reflects market be Cloud based • Reduce costs changes • Reduce cost of • Flexibility in scaling development, • Introduce new • Trends toward more maintenance and offer production outsourci
Slide 9: Cegedim Insurance Solutions
Cegedim Insurance Solutions Regulatory Technological Increase in trends trends addressable market • Dramatic changes • Transition to SaaS • Activus acquisition: with ACS, ANI, access to new Sustainable contracts geographical market Third-party payment • Generalization • Process automation • Monitori
Slide 10: RNP
RNP Enable brands to deliver best in class ROI through in store in and out visibility Activity Great technology Great audience • Up to 20,000 • Size of the screen pharmacies • Pitch 560.000 • 4,500 sqm production Audience of a national • Brightness and logistic center campaign deployed RNP • Interna
Slide 11: Cegedim SRH
Cegedim SRH A growing market Multiple drivers • HRIS market recorded • Regulatory drivers a 4% increase in 2015 • SaaS, Digital • Revenue growth by • Low level of outsourcing 2.5 times between 2009 and 2015 Cegedim SRH Customers Vertical offer Payroll BPO TAM … Prospect 11
Slide 12: Cegedim e-business
Cegedim e-business Cegedim’s dematerialization operator 300 450 100,000 million of bills million of direct connected payment per year companies Drivers • Regulatory trend • Digitalization trend 12
Slide 13: Cegedim e-business
Cegedim e-business # of new customers signed per year 13
Slide 14: Cegedim Healthcare Professionals
Cegedim Healthcare Professionals Doctors Pharmacists Drivers • Transition to SaaS • Difficult market • Medicalization of • Successful RCM • New SaaS offering for software model in US the French market in • Increasing demand • Adoption of IDC 10 H1-16 for Practice • Docavenue management software • Su
Slide 15: Two Growth Factors
Two Growth Factors Organic Growth External Growth • We have strong assets • Small bolt-on acquisition to build on • Significant market opportunities • Diversified revenue base and opportunities in new markets 15
Slide 16: 2015 Financial Situation
2015 Financial Situation
Slide 17: FY 2015 P&L Overview
FY 2015 P&L Overview In € million 2015* 2014* Δ% Revenue 426.2 412.2 +3.4% EBITDA 78.5 78.0 +0.7% EBIT 48.1 51.6 (6.9)% before special items Net Earnings 47.0 (199.7) n.m. Net Earnings 4.8 (14.3) n.m. per share * Restated figures for the Cegelease and Cegedim Kadrige impact Impact of the Cegelease’s
Slide 18: Cegelease activity has evolved
Cegelease activity has evolved: In 2001 In 2015 Exclusive reseller of Group’s products Broker of financial leases Cegedim: unique supplier Many different suppliers Financing solutions for all healthcare Payment solution for Pharmacist professionals and others professionals Majority of contract are r
Slide 19: FY 2015 Revenue Restatement by Division
FY 2015 Revenue Restatement by Division Reported Cegedim Kadrige Cegelease Jan.2016 Restatement Restatement Health Insurance H.R. & e-services 236.6 234.7 234.7 Healthcare Professionals 152.1 152.1 187.2 (1) Cegelease 117.0 117.0 — Activities not allocated 4.2 4.2 4.2 Cegedim 509.9 508.1 426.2 (1) I
Slide 20: Cegelease's Restatement Impact
Cegelase’s Restatement Impact This leads to a restatement of FY 2014 accounts and FY 2015 revenue in accordance with IAS 17. Impact on Revenue, EBITDA but not on EBIT 2015 2014 Revenue 508.1 426.2 492.5 412.2 EBITDA 90.5* 78.5 89.0 78.0 EBIT 48.4* 48.1 51.6 51.6 before special items * Not audited Be
Slide 21: Key Figures Key Points Outlook
Key Figures Key Points Outlook Revenue Group offering 2020 Bond will be €426.2m shifting to the cloud called in Q2-16 +3.4% reported +0.2% L-f-L Group Cloud and The peak of BPO offerings transition is EBITDA a success expected in 2016 €78.5m Cegelease +0.7% restatement 2016 revenues and EBITDA are E
Slide 22: Revenue Growth
Revenue Growth Division FY 2014 L-f-L Structure Currency Reported FY 2015 Health Insurance H.R. & e-services 221.2 +4.4% +1.7% +0.0% +6.1% 234.7 Healthcare Professionals 187.1 (4.8)% +0.0% +4.9% +0.1% 187.2 Activities not 3.9 +7.8% — — +7.8% 4.2 allocated Cegedim 412.2 +0.2% +0.9% +2.2% +3.4% 426.2
Slide 23: Well Diversified Revenue Sources
Well Diversified Revenue Sources 23
Slide 24: FY-2015 P&L
FY-2015 P&L In € million FY 2015 FY 2014 % Change Revenue 426.2 412.2 +3.4% EBITDA 78.5 78.0 +0.7% margin 18.4% 18.9% (49)bps D&A (30.4) (26.3) +15.5% EBIT before special items 48.1 51.6 (6.9)% margin 11.3% 12.5% (124)bps Special items (6.7) (11.0) +39.6% EBIT 41.4 40.6 +2.0% margin 9.7% 9.8% (13)bp
Slide 25: Robust Margin by Division
Robust Margin by Division Health Insurance Healthcare Activities not H.R. & e-services Professionals allocated FY 15 FY 14 Δ% FY 15 FY 14 Δ% FY 15 FY 14 Δ% Revenue 234.7 221.2 +6.1% 187.2 187.1 +0.1% 4.2 3.9 +7.8% EBITDA 46.5 43.7 +6.4% 30.0 39.1 (23.1)% 2.0 (4.8) n.m. D&A (16.0) (15.0) +6.7% (11.3)
Slide 26: Consolidated Balance Sheet (in €m)
Consolidated Balance Sheet (in €m) Assets 2015 2014 Goodwill 188.5 175.4 Other non-current assets 223.7 185.4 Cash & cash equivalents 231.3 44.0 Other current assets 220.0 183.6 Assets held for sale 0.8 584.9 Shareholders Equity & Liabilities Shareholders Equity(1) 228.1 216.7 Other non-current liab
Slide 27: Solid Capital Structure
Solid Capital Structure Credit Rating Corporate and capital structure Assessed on April 13, 2015 Maturity Profile This includes 0.3% of the shares of Cegedim S.A. held by Cegedim S.A. as of December 31, 2015 27
Slide 28: Managing the debt profile
Managing the debt profile New RCF facility of €200m with a 5 years maturity. Signed on January 2016. Shareholder loan: maturity extended to Jan. 2021 6.75% bond 2020*: Full redemption on April 1st, 2016. * Subject to various standard conditions 28
Slide 29: Significant Debt Reduction
Significant Debt Reduction (1) Net total debt include liabilities under our employee profit sharing plans for €8,0m on December 31,2015 and for €8.3m on December 31, 2014 29 (2) Paid for partial redemption of the 6,75% bond maturing in 2020
Slide 30: Outlook
Outlook Group transformation continue Robust investment in R&D maintained for 2016 Transition to SaaS and BPO deployment Cegedim expects(1) to achieve stability with respect to both revenues and EBIDTA in 2016 despite the transition peak (1) These projections are publicly disclosed on March 23, 2016
Slide 31: We welcome your questions and comments
We welcome your questions and comments 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