Cegedim’s revenue grew 6.3% in 2024
Quarterly financial information as of December 31,
2024
IFRS - Regulated information - Not audited
Cegedim’s revenue grew 6.3% in 2024
-
Full year revenue rose 4.7% like for like to €654.5 million
-
Fourth quarter revenue grew 5.9% like for like to €178.7
million
-
All operating divisions contributed to growth in the fourth
quarter
Boulogne-Billancourt, France, January
30, 2025, after the market close
Revenue
|
|
Fourth quarter |
Change Q4 2024 / 2023 |
|
in millions of euros |
2024 |
2023
reclassified(1) |
Reclassification(1) |
2023
Reported |
Reported
vs. reclassified(1) |
Like for
like(2)(3)
vs. reclassified(1) |
|
Software & Services |
80.1 |
75.7 |
(8.7) |
84.4 |
+5.8% |
+2.8% |
|
Flow |
27.0 |
24.2 |
(0.6) |
24.8 |
+12.0% |
+11.7% |
|
Data & Marketing |
38.4 |
35.8 |
0.0 |
35.8 |
+7.1% |
+7.1% |
|
BPO |
21.2 |
19.6 |
0.0 |
19.6 |
+7.8% |
+7.8% |
|
Cloud & Support |
12.0 |
11.3 |
+9.3 |
2.0 |
+6.2% |
+6.2% |
|
Cegedim |
178.7 |
166.6 |
0.0 |
166.6 |
+7.2% |
+5.9% |
|
|
Full year |
Change FY 2024 / 2023 |
|
in millions of euros |
2024 |
2023
reclassified(1) |
Reclassification(1) |
2023
Reported |
Reported
vs. reclassified(1) |
Like for
like(2)(4)
vs. reclassified(1) |
|
Software & Services |
307.8 |
302.3 |
(24.3) |
326.6 |
+1.8% |
(1.2)% |
|
Flow |
100.3 |
93.4 |
(2.5) |
95.9 |
+7.3% |
+7.2% |
|
Data & Marketing |
125.9 |
114.9 |
0.0 |
114.9 |
+9.6% |
+9.6% |
|
BPO |
82.7 |
71.5 |
0.0 |
71.5 |
+15.8% |
+15.8% |
|
Cloud & Support |
37.8 |
33.9 |
+26.8 |
7.1 |
+11.3% |
+11.3% |
|
Cegedim |
654.5 |
616.0 |
0.0 |
616.0 |
+6.3% |
+4.7% |
Cegedim’s consolidated fourth quarter
2024 revenues rose to €178.7 million, up 7.2% as reported and 5.9%
like for like(2) compared with the same period in 2023.
All operating divisions contributed to like for like growth in the
fourth quarter.
Over the full year, revenues rose 6.3% as
reported and 4.7% like for like compared with 2023. Marketing,
health insurance, HR, and cloud businesses delivered the most solid
growth over the full year. As expected, the Software & Services
division felt the impact of comparisons with Ségur public health
investment spending in 2023 and a slowdown in international sales
because the Group decided to refocus its UK doctor software
activities on Scotland, and then later decided to voluntarily place
that business under administration.
Analysis of business trends by
division
|
Software & Services |
Fourth quarter |
Change Q4 2024 / 2023 |
Full year |
Change FY 2024 / 2023 |
|
in millions of euros |
2024 |
2023
Reclassified(3) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified(1) |
2024 |
2023
reclassified(1) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified(1) |
|
Cegedim Santé |
21.3 |
18.1 |
+17.2% |
+1.8% |
80.2 |
76.5 |
+4.8% |
(7.1)% |
|
Insurance, HR, Pharmacies, and other services |
47.2 |
44.9 |
+5.1% |
+5.1% |
176.7 |
173.3 |
+2.0% |
+1.9% |
|
International businesses |
11.6 |
12.7 |
(8.2)% |
(3.5)% |
50.9 |
52.5 |
(3.0)% |
(3.0)% |
|
Software & Services |
80.1 |
75.7 |
+5.8% |
+2.8% |
307.8 |
302.3 |
+1.8% |
(1.2)% |
Revenues at Cegedim Santé grew 17.2% as
reported in the fourth quarter and 1.8% like for like. Reported
growth over the full year came to 4.8%, but like-for-like revenues
fell 7.1% due to the absence of Ségur public health investments,
which generated revenue of €4.7 million in 2023. Reported growth
includes Visiodent from March 1, 2024. The new subsidiary
has already started marketing Group products like the Maiia
appointment scheduling app and the Claude Bernard database to its
clients, but those sales are not reflected in like-for-like
growth.
Others French subsidiaries saw reported revenue
growth of 5.1% in the fourth quarter and 2% over the full year
(1.9% LFL; Phealing acquired in Q4 2023). Over both the fourth
quarter and the full year, the division was propelled by growth at
the insurance businesses, thanks to robust project-based sales, and
by HR, which is still getting a boost from its client
diversification strategy. On the other hand, sales to pharmacies
were down substantially—as they were at some of the competitors.
This was partly because equipment sales slowed after many
pharmacies updated their equipment in 2023. In addition, the
pharmacy software business took in more than €2 million in Ségur
public health investment revenues in 2023, creating a tough
comparison.
Internationally, revenues from software sales to
UK doctors declined, as expected, following the Group’s decision
early in the year to refocus the activity on Scotland.
Unfortunately, the market proved too sluggish for this plan to
succeed. On December 10, the Group decided to deconsolidate this
subsidiary after announcing it would be voluntarily placed under
administration. That move aggravated the drop in reported revenues
in the fourth quarter, which came to 8.2%.
|
Flow |
Fourth quarter |
Change Q4 2024 / 2023 |
Full year |
Change FY 2024 / 2023 |
|
in millions of euros |
2024 |
2023
reclassified(1) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified(1) |
2024 |
2023
reclassified(1) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified(1) |
|
e-business |
15.0 |
14.0 |
+7.1% |
+6.7% |
58.5 |
55.4 |
+5.6% |
+5.3% |
|
Third-party payer |
12.0 |
10.2 |
+18.7% |
+18.7% |
41.8 |
38.0 |
+9.9% |
+9.9% |
|
Flow |
27.0 |
24.2 |
+12.0% |
+11.7% |
100.3 |
93.4 |
+7.3% |
+7.2% |
Fourth-quarter growth in e-business,
e-invoicing, and digitized data exchanges was 7.1%. The boost came
from a rebound in Invoicing & Purchasing in France and a
continued surge at the Healthcare Flow segment, which started early
in the year, owing to dynamic new offerings for hospitals that are
designed to make their drug purchasing secure. Growth over the full
year was a solid 5.6%.
The digital data flow business dealing with
reimbursement of healthcare payments in France (Third-party payer)
experienced 18.7% growth in Q4. It was boosted by strong growth in
demand for its fraud and long-term illness detection offerings.
Over the full year, this trend more than offset the transfer of
revenue attributable to the Allianz contract—now attributed to the
BPO business—and allowed the unit to post growth of 9.9%.
|
Data & Marketing |
Fourth quarter |
Change Q4 2024 / 2023 |
Full year |
Change FY 2024 / 2023 |
|
in millions of euros |
2024 |
2023
reclassified(1) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified(1) |
2024 |
2023
reclassified(1) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified(1) |
|
Data |
22.4 |
21.0 |
+6.3% |
+6.3% |
65.5 |
64.5 |
+1.6% |
+1.6% |
|
Marketing |
16.0 |
14.8 |
+8.2% |
+8.2% |
60.4 |
50.4 |
+19.9% |
+19.9% |
|
Data & Marketing |
38.4 |
35.8 |
+7.1% |
+7.1% |
125.9 |
114.9 |
+9.6% |
+9.6% |
Data businesses posted 6.3% yoy growth in the
fourth quarter, cementing an improvement over the second half,
particularly in France. Thanks to its strong presence on the ground
and its agility in adapting to customer demands, the Data business
has been able to post positive growth of 1.6% in 2024, following a
remarkable year in 2023.
The Marketing segment had a solid fourth
quarter, up 8.2%, and a record year, with growth of 19.9%. The
performance showed the soundness of its phygital media strategy for
pharmacies and was bolstered by special ad campaigns during the
Olympics.
|
BPO |
Fourth quarter |
Change Q4 2024 / 2023 |
Full year |
Change FY 2024 / 2023 |
|
in
millions of euros |
2024 |
2023
Reclassified(4) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified(1) |
2024 |
2023
reclassified(1) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified |
|
Insurance BPO |
15.4 |
14.0 |
+9.9% |
+9.9% |
60.0 |
49.9 |
+20.2% |
+20.2% |
|
Business Services BPO |
5.8 |
5.6 |
+2.8% |
+2.8% |
22.7 |
21.6 |
+5.5% |
+5.5% |
|
BPO |
21.2 |
19.6 |
+7.8% |
+7.8% |
82.7 |
71.5 |
+15.8% |
+15.8% |
The Insurance BPO business grew by 9.9% over the
fourth quarter, chiefly owing to its overflow business, which has
been flourishing since the start of the year. Growth over the full
year amounted to 20.2%, partly thanks to a favorable comparison
stemming from the April 1, 2023, launch of the Allianz
contract.
Business Services BPO (HR and digitalization)
reported growth of 2.8% in the fourth quarter and 5.5% over the
full year on the back of a popular compliance offering and new
clients.
|
Cloud & Support |
Fourth quarter |
Change Q4 2024 / 2023 |
Full year |
Change FY 2024 / 2023 |
|
in millions of euros |
2024 |
2023
reclassified(1) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified(1) |
2024 |
2023
reclassified(1) |
Reported
vs. reclassified(1) |
Like for like(2)
vs. reclassified(1) |
|
Cloud & Support |
12.0 |
11.3 |
+6.2% |
+6.2% |
37.8 |
33.9 |
+11.3% |
+11.3% |
The Cloud & Support division’s trajectory
continued over the fourth quarter, with growth of 6.2% bringing FY
growth to 11.3%. The progress reflects our expanded range of
sovereign cloud-backed products and services, which earned the
ANSSI security visa for SecNumCloud certification.
Highlights
Apart from the items cited below, to the best of
the company’s knowledge, there were no events or changes during Q4
2024 that would materially alter the Group’s financial
situation.
On December 10, 2024, Cegedim
announced that it had voluntarily placed its UK subsidiary—INPS,
which sells software for doctors—under administration.
Significant transactions and events post
December 31, 2024
To the best of the company’s knowledge, there were no post-closing
events or changes after December 31, 2024, that would materially
alter the Group’s financial situation.
Outlook
Like-for-like revenue growth(1) in
2024 was just below the bottom of the announced 5% to 8% range
compared with 2023. Had the Group not refocused INPS on Scotland
and then closed it later in the year, it would have met the 5%
target. This performance is unlikely to jeopardize the outlook for
recurring operating income, which is expected to continue
improving.
That said, the deconsolidation of INPS is likely to result in
significant non-cash adjustments.
These statements are not forecasts and are based on financial
information that has not yet been audited.
---------------
|
WEBCAST ON JANUARY 30, 2025 AT 6:15 PM (PARIS
TIME) |
|
The webcast is available at:
www.cegedim.fr/webcast |
The FY 2024 revenue presentation is available at:
https://www.cegedim.fr/documentation/Pages/presentation.aspx |
Financial calendar:
|
2025 |
March 27 after the close
March 28 at 10:00 am
April 24 after the close
June 13 at 9:30
July 24 after the close
September 25 after the close
September 26 at 10:00 am
October 23 after the close |
2024 results
SFAF meeting
Q1 2025 revenues
Shareholders’ general meeting
H1 2025 revenues
H1 2025 results
SFAF meeting
Q3 2025 revenues |
Financial calendar:
https://www.cegedim.fr/finance/agenda/Pages/default.aspx
Disclaimer
This press release is available in French and in English.
In the event of any difference between the two versions, the
original French version takes precedence. It was sent to Cegedim’s
authorized distributor on January 30, 2025, no earlier than 5:45 pm
Paris time.
The figures cited in this press release include guidance on
Cegedim's future financial performance targets. This
forward-looking information is based on the opinions and
assumptions of the Group’s senior management at the time this press
release is issued and naturally entails risks and uncertainty. For
more information on the risks facing Cegedim, please refer to
Chapter 7, “Risk management”, section 7.2, “Risk factors and
insurance”, and Chapter 3, “Overview of the financial year”,
section 3.6, “Outlook”, of the 2023 Universal Registration Document
filled with the AMF on April 3, 2024, under number
D.24-0233.
About Cegedim:
Founded in 1969, Cegedim is an innovative technology and services
group in the field of digital data flow management for healthcare
ecosystems and B2B, and a business software publisher for
healthcare and insurance professionals. Cegedim employs nearly
6,700 people in more than 10 countries and generated revenue of
over €654 million in 2024.
Cegedim SA is listed in Paris (EURONEXT: CGM).
To learn more please visit: www.cegedim.fr
And follow Cegedim on X: @CegedimGroup, LinkedIn, and Facebook.
Aude Balleydier
Cegedim
Media Relations
and Communications Manager
Tel.: +33 (0)1 49 09 68 81
aude.balleydier@cegedim.fr |
Damien Buffet
Cegedim
Head of Financial
Communication
Tel.: +33 (0)7 64 63 55 73
damien.buffet@cegedim.com |
Céline Pardo
Becoming RP Agency
Media Relations Consultant
Tel.: +33 (0)6 52 08
13 66
cegedim@becoming-group.com |
|
____________________________________________________________________________________________________________________________________________________
(1) At constant scope and exchange
rates.
Annexes
Breakdown of revenue by quarter and
division
|
in millions of euros |
|
Q1 |
Q2 |
Q3 |
Q4 |
Total |
|
Software & Services |
|
74.3 |
77.8 |
75.6 |
80.1 |
307.8 |
|
Flow |
|
25.4 |
24.2 |
23.7 |
27.0 |
100.3 |
|
Data & Marketing |
|
27.0 |
32.3 |
28.2 |
38.4 |
125.9 |
|
BPO |
|
20.2 |
19.7 |
21.6 |
21.2 |
82.7 |
|
Cloud & Support |
|
9.0 |
9.1 |
7.7 |
12.0 |
37.8 |
|
Group revenue |
|
155.9 |
163.1 |
156.8 |
178.7 |
654.5 |
|
in millions of euros |
|
Q1
reclassified |
Q2
reclassified |
Q3
reclassified |
Q4
reclassified |
Total
reclassified |
|
Software & Services |
|
74.4 |
76.2 |
76.0 |
75.7 |
302.3 |
|
Flow |
|
24.0 |
22.8 |
22.4 |
24.2 |
93.4 |
|
Data & Marketing |
|
24.6 |
30.3 |
24.1 |
35.8 |
114.9 |
|
BPO |
|
14.4 |
18.4 |
19.0 |
19.6 |
71.5 |
|
Cloud & Support |
|
8.4 |
7.4 |
6.8 |
11.3 |
33.9 |
|
Group revenue |
|
145.9 |
155.1 |
148.3 |
166.6 |
616.0 |
Revenue breakdown by geographic zone,
currency, and division at December 31, 2024
as a % of consolidated revenues
|
|
Geographic zone |
|
Currency |
| |
France |
EMEA
ex. France |
Americas |
|
Euro |
GBP |
Other |
|
Software & Services |
|
83.5% |
16.4% |
0.1% |
|
86.9% |
11.4% |
1.7% |
|
Flow |
|
92.1% |
7.9% |
0.0% |
|
94.6% |
5.4% |
0.0% |
|
Data & Marketing |
|
97.9% |
2.1% |
0.0% |
|
98.1% |
0.0% |
1.9% |
|
BPO |
|
100.0% |
0.0% |
0.0% |
|
100.0% |
0.0% |
0.0% |
|
Cloud & Support |
|
99.9% |
0.1% |
0.0% |
|
100.0% |
0.0% |
0.0% |
|
Cegedim Health Data UK |
|
90.6% |
9.3% |
0.1% |
|
92.2% |
6.6% |
1.2% |
(1) As of January
1, 2024, our Cegedim Outsourcing and Audiprint subsidiaries—which
were previously housed in the Software & Services division—as
well as BSV—formerly of the Flow division—have been moved to the
Cloud & Support division in order to capitalize on operating
synergies between cloud activities and IT solutions
integration.
(2) At constant scope and exchange
rates.
(3) The positive currency impact of 0.2% was
mainly due to the pound sterling. The positive scope effect of 1.1%
was attributable to the first-time consolidation in
Cegedim’s accounts of Visiodent
starting March 1, 2024.
(4) The positive currency impact of 0.2% was
mainly due to the pound sterling. The positive scope effect of 1.4%
was attributable to the first-time consolidation in
Cegedim’s accounts of Visiodent
starting March 1, 2024.
(1) 3To take
advantage of synergies, Cegedim Outsourcing, Audiprint, and BSV
have been reassigned to the Cloud &
Support division.
(2) At constant scope and exchange
rates.
(1) 4To take
advantage of synergies, Cegedim Outsourcing, Audiprint, and BSV
have been reassigned to the Cloud &
Support division.
(2) At constant scope and exchange
rates.
- Cegedim_Revenue_4Q2024_ENG
Cegedim (EU:CGM)
과거 데이터 주식 차트
부터 12월(12) 2024 으로 1월(1) 2025
Cegedim (EU:CGM)
과거 데이터 주식 차트
부터 1월(1) 2024 으로 1월(1) 2025
