|
| |||||||||||||||
CEGEDIM : Full-year 2007 results A WINNING STRATEGY PARIS--(MARKET WIRE)--Apr 14, 2008 -- Cegedim, the world leader in CRM solutions
for the pharmaceutical industry, continues to boost its
margin,
posting operating profit from ordinary business of EUR 95
million.
This growth is proof that Dendrite has been successfully
integrated into the Group's "CRM and strategic data" activity,
Cegedim's core business. +-------------------------+-----------+-----------+----------+ |€ thousands |31/12/2007 |31/12/2006 |Variation | +-------------------------+-----------+-----------+----------+ |Revenues A | 752 994 | 541 208 | +39 % | +-------------------------+-----------+-----------+----------+ |External costs and other | -253 838 | -189 397 | +34 % | |operating costs | | | | +-------------------------+-----------+-----------+----------+ |Taxes and fees | -12 325 | -11 324 | +9 % | +-------------------------+-----------+-----------+----------+ |Payroll costs | -352 367 | -247 189 | +43 % | +-------------------------+-----------+-----------+----------+ |Net depreciation, | -39 200 | -27 099 | +45 % | |amortization and | | | | |provision expenses | | | | +-------------------------+-----------+-----------+----------+ |Operating profit from | 95 264 | 66 199 | +44 % | |ordinary business B | | | | +-------------------------+-----------+-----------+----------+ |Ordinary operating margin| 12.7 % | 12.2 % | | |B/A | | | | +-------------------------+-----------+-----------+----------+ |Exceptional operating | -5 379 | | | |charges | | | | +-------------------------+-----------+-----------+----------+ |Operating profit C | 89 885 | 66 199 | +36 % | +-------------------------+-----------+-----------+----------+ |Operating margin C/A | 11.9 % | 12.2 % | | +-------------------------+-----------+-----------+----------+ |Net interest expense | -27 629 | -6 788 | +307 % | +-------------------------+-----------+-----------+----------+ |Tax charge | -17 872 | -20 316 | -12 % | +-------------------------+-----------+-----------+----------+ |Share in net result of | -233 | -177 | | |affiliated companies | | | | +-------------------------+-----------+-----------+----------+ |Consolidated net profit | 44 151 | 38 918 | +13 % | +-------------------------+-----------+-----------+----------+ |o/w * Group share D | 43 839 | 38 653 | +13 % | +-------------------------+-----------+-----------+----------+ |* Minority interests | 312 | 265 | | +-------------------------+-----------+-----------+----------+ |Number of shares excl. | 9 331 449 | 9 290 266 | | |treasury stock E | | | | +-------------------------+-----------+-----------+----------+ |Earnings per share (€) | 4.7 | 4.2 | | |D/E | | | | +-------------------------+-----------+-----------+----------+ +-------------------------+--------------------+----------------+ |IFRS Ordinary operating |Revenues 31/12/2007 |EBIT 31/12/2007 | |margin - € thousands | | | +-------------------------+--------------------+----------------+ | | | | +-------------------------+--------------------+----------------+ |CRM and strategic data | 434 190 | 65 028 | +-------------------------+--------------------+----------------+ |Healthcare professionals | 145 965 | 19 765 | +-------------------------+--------------------+----------------+ |Healthcare insurance | 81 263 | 3 455 | |services | | | +-------------------------+--------------------+----------------+ |Healthcare and strategic | 661 418 | 88 248 | |data | | | +-------------------------+--------------------+----------------+ |Technologies and services| 91 576 | 7 016 | +-------------------------+--------------------+----------------+ |Total | 752 994 | 95 264 | +-------------------------+--------------------+----------------+ +-------------------------+--------------------+--------------+ |IFRS Ordinary operating |EBIT/Revenues |EBIT/Revenues | |margin - € thousands |31/12/2007 | | +-------------------------+--------------------+--------------+ | | | 31/12/2006 | +-------------------------+--------------------+--------------+ |CRM and strategic data |15.0 % | 16.0 % | +-------------------------+--------------------+--------------+ |Healthcare professionals |13.5 % | 12.1 % | +-------------------------+--------------------+--------------+ |Healthcare insurance |4.3 % | 8.1 % | |services | | | +-------------------------+--------------------+--------------+ |Healthcare and strategic |13.3 % | 13.5 % | |data | | | +-------------------------+--------------------+--------------+ |Technologies and services|7.7 % | 6.0 % | +-------------------------+--------------------+--------------+ |Total |12.7 % | 12.2 % | +-------------------------+--------------------+--------------+
On consolidated 2007 revenues of EUR 753 million, Cegedim posted an ordinary operating margin of 12.7%, 50 basis points higher than the 2006 margin of 12.2%. Cegedim now generates 51% of its business abroad. The "CRM and strategic data" sector maintained a strong margin of 15%, confirming the effective integration of Dendrite, which it began consolidating on 9 May 2007. The sector's full-year revenue growth of 77.5% was largely attributable to this acquisition, which has enabled Cegedim to clear a decisive hurdle in its international development: this sector now does 74% of its business outside of France, compared with 55% in 2006. This fundamental trend is expected to continue in the years ahead. The "Healthcare professionals" sector confirmed its strong momentum, posting robust full-year revenue growth of 16.2% (organic growth of 10.2%). With a 31% increase, pharmacists' software in the UK turned in a second consecutive year of vigorous gains. Sector activities in France are on the right track, including notably a strong recovery at the doctors' software activity, which grew by almost 14%. In 2007 these excellent performances again helped improve operating margin, which rose from 12.1% to 13.5%. In this sector, 44% of revenues are generated outside of France. "Healthcare insurance services" sector revenues rose 5.2%, in line with full-year forecasts. Operating margin of 4.3% was hurt by delays starting up certain projects, which will take shape in 2008. "Technologies and services" businesses boosted their operating margin from 6% to 7.7% overall, due notably to financial leasing activities. Together, these factors produced an operating profit from ordinary business of EUR 95.3 million, or an operating margin of 12.7%. Excluding the impact of activities sold to Tessi, operating profit from ordinary business came to EUR 97.8 million, bringing the margin to 13.2%. Financed entirely with debt, the Dendrite acquisition led the Group to restructure all of its borrowings. Net interest expenses came to EUR 27.6 million in 2007 compared with EUR 6.8 million in 2006. At the same time, the merged Group's tax situation resulted in a significant drop in the effective consolidated tax rate, from 34.2% in 2006 to 28.7% in 2007. Consolidated net profit came to EUR 44.2 million, over EUR 5 million increase in 2007. 2008 outlook The Group expects revenues of EUR 840 million to EUR 850 million in 2008 and the 2008 operating margin from ordinary business should be in line with 2007. About Cegedim: Founded in 1969, Cegedim is a global technology and services company specializing in the healthcare field. Cegedim supplies services, technological tools, specialized software, data flow management services and databases. Its offerings are targeted notably at healthcare industries, pharmaceutical companies, healthcare professionals and insurance companies. The world leader in pharmaceutical CRM, Cegedim is also one of the leading suppliers of strategic healthcare industry data. Cegedim employs nearly 8,000 people in 80 countries and generated revenue of EUR 753 million in 2007. To learn more, please visit our website: www.cegedim.com Listed on NYSE Euronext Paris, compartment B - ISIN FR0000053506 - Reuters CGDM.PA - Bloomberg CGM +-------------------------+--------------------+ |Media inquiries |Investor relations | +-------------------------+--------------------+ |Cegedim |CEGEDIM | +-------------------------+--------------------+ |Aude Balleydier |Sandrine Debroise | +-------------------------+--------------------+ |Media Relations |Annelise Falandry | +-------------------------+--------------------+ |Tel: +33 (0)1 49 09 68 81|Jan Eryk Umiastowski| +-------------------------+--------------------+ |aude.balleydier@cegedim.f| | |r | | +-------------------------+--------------------+ |VP Communication |Tel: +33 (0)1 49 09 | | |22 00 | +-------------------------+--------------------+ |Coralie Voigt |investor.relations@c| | |egedim.fr | +-------------------------+--------------------+ |Press Officer | | +-------------------------+--------------------+ |Tel: +33 (0)1 40 22 04 01| | +-------------------------+--------------------+ |cvoigt@vp-communication.c| | |om | | +-------------------------+--------------------+ This information is provided by HUGIN Contact: Source: CEGEDIM
|  | ||||||||||||||
