Slide 1: Annual Results Webcast
wi cegedim WEBCAST 19 MARCH 2020 ANNUAL RESULTS \ Wi
Slide 2: 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 may not prove to be accurate. By their nature,
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Slide 4: The Big Picture
The Big Picture FY 2019 Bj cegedim €503.7m Reported revenue 4,946 €101.2m emproyess Reported EBITDA” eporte €47.6m Capitalized R&D
Slide 5: Cegedim: An innovative technology and services company
Cegedim: An innovative technology and services company 5
Slide 6: Innovation: Technology make the difference
Innovation: Technology make the difference 6
Slide 7: Unique diversified group creating synergies and opportunities
Unique diversified group creating synergies and opportunities 7
Slide 8: Evolving the portfolio
Evolving the portfolio These transactions added: Innovation, Scale of business, Expertise, New market, Increased profitability 8
Slide 9: Healthcare is becoming a digital business
Healthcare is becoming a digital business 9
Slide 10: Docavenue becomes Maiia
Docavenue becomes Maiia Bj cegedim 10
Slide 11: Maiia: Appointment and Teleconsultation
Maiia: Appointment and Teleconsultation 11
Slide 12: Maiia: Key figures
Maiia: Key figures Bj cegedim 12,000 15,000 4,000 teleconsultations teleconsultations 7 in February — since the beginning general practitioners of March teleconsultations users (as of March 16th) 16 million patients 400 pharmacies < 100,000 healthcare professionals agenda users Maiia
Slide 13: Digital revolution is an opportunity for all of our business
Digital revolution is an opportunity for all of our business 13
Slide 14: Conclusion: Cegedim's 3 pillars
Conclusion: Cegedim’s 3 pillars 14
Slide 15: Finance
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Slide 16: IFRS 16 Application
IFRS 16 Application Applied since January 1st, 2019 • Applied to leases involving fixed payments, mostly related to rents • Financial statements not restated as of December 31, 2018, in accordance with the standard • Negligible impact on net profit (loss) • Impact on EBITDA: +€15.9 millions • Impact
Slide 17: FY 2019 The big picture
FY 2019 The big picture FY 18 FY 19 REVENUE 2RING OPERATING INCOME MARGIN FY 18 FY 19 FCF from operations €64.8m FY 19 FY 18 NET DEBT €108m LEVERAGE €180.6m\ xl.4 Levene x21 FY 18 FY 18 7
Slide 18: FY 2019 Revenue overview
FY 2019 Revenue overview Bj cegedim = S G.050 REPORTED ORGANIC STRUCTURE XIMANTIX GaP BSV NET EDI © PULSE'S ASSETS, REVENUE BREAKDOWN BY: , EUR 87.2% FY 2018 FY 2019 CURRENCY sz. usD 1.5% | | RoW 1.5% 18
Slide 19: Strong BPO trend
Strong BPO trend Bj cegedim BPO REVENUE TREND 4,562 4,946 €32.2m €35.9m 4,226 €26.0m me 3,633 €20.2m F - FY-2015 FY-2016 FY-2017——FY-2018 FY-2019 DEC. 2015 DEC.2016 DEC. 2017. DEC. 2018 DEC. 2019 Ore OP» HEADC! NT TREND 19
Slide 20: L-f-l FY-2019 revenue growth by business group
L-f-l FY-2019 revenue growth by business group 20
Slide 21: FY 2019 Recurring Operating Income Trend
FY 2019 Recurring Operating Income Trend 21
Slide 22: Health Insurance HR & E-Services Division Overview
Health Insurance HR & E-Services Division Overview 22
Slide 23: Healthcare Professionals Division Overview
Healthcare Professionals Division Overview
Slide 24: From Recurring operating income to Net Earnings
From Recurring operating income to Net Earnings 24
Slide 25: FY 2019 Financial Performance
FY 2019 Financial Performance In € million FY 18 FY 19 % change IFRS 16 REVENUE 467.7 503.7 +7.7% EBITDA 76.8 101.2 31.9% +€15.9 millions on FY-19 EBITDA Margin 16.4% 20.1% +368bps D&A related to R&D (28.6) (32.5) +13.4% D&A related to IFRS 16 0.0 (15.8) n.m. €(15.8) millions on FY-19 D&A D&A others
Slide 26: FCF from operations
FCF from operations In € million FY 18 FY 19 Cash flow before taxes and interests 62.1 95.9 Negative Impact: Change in working capital requirement 64.4 (64.5) ! • €39.0 million from factoring cancellations Corporate tax paid (2.9) (2.2) Net cash flow from operating activities 123.6 29.3 • €32.2 mill
Slide 27: Change in Net Financial Debt
Change in Net Financial Debt Incorporating for the first time the effects of the application of IFRS 16 Leases 27
Slide 28: FY 2019 Balance Sheet Sound Financial Structure
FY 2019 Balance Sheet Sound Financial Structure In € million Dec. 18 Dec. 19 ASSETS As a liability: recognition of a lease liability (€65.9 million - €52.4 million non Goodwill Intangible assets 173.0 156.7 192.7 157.5 1 current portion and €13.5 million current portion-) , measured at the discounte
Slide 29: Outlook: 2019 Performance
Outlook: 2019 Performance 29
Slide 30: Potential Impact of Brexit
Potential Impact of Brexit 30
Slide 31: FY 2020 Outlook
FY 2020 Outlook RESULTS FY 2020 Outlook Faced with the recent development of the coronovirus and the covid-19 epidemic, and their effects on the European economy, the Group has activated its continuity plans and is closely monitoring any impact on its activities. We support our customers, partners,
Slide 32: FY 2020 Financial Agenda
019 RESULTS April 27 after the market close First quarter 2020 revenues FY 2020 Financial Agenda at 9:30am CET Cegedim shareholders’ meeting July 28 after the market close Second quarter 2020 revenues September 17 after the market close 2020 half year earnings September 18 after the market close Ana
Slide 33: Annexes
Annexes WW it iy in i Y 1 %
Slide 34: Alternative Performance Indicator
Alternative Performance Indicator This financial performance indicator is equivalent to “operating profit from continuing activities” plus net depreciation and amortization expenses. Operating profit from continuing activities is defined as the sum of « recurring operating income » and « other non-r
Slide 35: Recurring operating income and EBITDA
Recurring operating income and EBITDA in € million In € million FY 18 FY 19 Reported Reported Operating income (a) 14.4 16.1 Other non-recurring operating income and expenses (b) (18.6) (18.5) Amortization of goodwill (c) 0.0 (2.5) Recurring operating income (REBIT) (d= a-b-c) 33.1 37.1 Depreciation
Slide 36: 2019 Revenue
2019 Revenue In € thousands Division 1 Division 2 Division 3 Group 2018 REVENUE (a) 307,684 156,184 3,820 467,688 Impact of disposals 0 (3,971) 0 (3,971) 2018 Revenue before impact of disposals 307,684 152,213 3,820 463,717 Currency impact 20 670 0 690 2018 Revenue at 2019 exchange rate (b) 307,704
Slide 37: 2019 P&L – IFRS 16 Bridge
2019 P&L – IFRS 16 BRIDGE In € million FY 18 FY 19 0 % change 2019 IFRS 16 Reported ISA 17 Reported Impact REVENUE 467.7 503.7 +7.7% 503.7 0.0 EBITDA 76.8 85.4 +11.2% 101.2 +15.9 Margin 16.4% 16.9% +53bps 20.1% D&A related to R&D (28.6) (32.5) +13.4% (32.5) D&A related to IFRS 16 0.0 0.0 0.0% (15.8)
Slide 38: 2019 P&L – IFRS 16 Bridge
2019 P&L – IFRS 16 BRIDGE in € million Health insurance, HR and e-services FY 18 FY 19 0 % change 2019 IFRS 16 Reported ISA 17 Reported Impact REVENUE 307.7 340.5 +10.7% 340.5 0.0 EBITDA 54.4 59.7 +9.8% 66.6 +6.9 Margin 17.7% 17.5% (14)bps 19.6% D&A (21.9) (25.3) +15.4% (32.1) (6.8) RECURRING OPERAT
Slide 39: HY 2019 P&L – IFRS 16 Bridge
HY 2019 P&L – IFRS 16 BRIDGE in € million Healthcare professionals FY 18 FY 19 0 % change 2019 IFRS 16 Reported ISA 17 Reported Impact REVENUE 156.2 159.8 +2.3% 159.8 0.0 EBITDA 18.9 22.6 +19.7% 27.0 +4.5 Margin 12.1% 14.1% +205bps 16.9% D&A (16.3) (17.4) +6.5% (21.8) (4.4) RECURRING OPERATING INCOM
Slide 40: 2019 P&L – IFRS 16 Bridge
2019 P&L – IFRS 16 BRIDGE in € million Corporate and others FY 18 FY 19 0 % change 2019 IFRS 16 Reported ISA 17 Reported Impact REVENUE 3.8 3.4 (10.2)% 3.4 0.0 EBITDA 3.5 3.1 (12.1)% 7.6 +4.5 Margin 91.5% 89.6% (187)bps n.m. D&A (5.5) (5.7) +4.5% (10.3) (4.6) RECURRING OPERATING INCOME (2.0) 2.6 +33
Slide 41: HY 2019 Balance Sheet – IFRS 16 Bridge
HY 2019 Balance Sheet – IFRS 16 BRIDGE In € million Dec. 18 Dec. 19 Dec.19 IFRS16 Reported IAS 17 IFRS 16 Impact ASSETS Goodwill 173.0 192.7 192.7 0.0 Intangible assets 156.7 157.5 157.5 0.0 Tangible assets 33.4 34.6 99.2 64.5 Financial assets 21.0 19.8 19.8 0.0 Other non-current assets 39.9 47.3 46
Slide 42: A strong leadership
One of the french leaders in sales statistics for pharma- ceutical products IQVIA #1 in personal ow acriv/ insurance computerization pre © oivioew comes conpengo _. One of the leaders of Mali teleconsuttation and online appointment Doctslih LIVI 83 hellocare Qare B Cc Leading player in E2utae drug d
Slide 43: Top market positions on a highly competitive international environment
Top market positions on a highly competitive international environment 43
Slide 44: Thank you for your attention
Thank you for your attention 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