CompuGroup Medical SE - First Quarter Results 2017
Koblenz - May 4, 2017: CompuGroup Medical SE (CGM) today presented the financial report for the first quarter of 2017. The company, one of the leading global providers of eHealth solutions, achieved revenue of EUR 142 million compared to EUR 135 million in the same period last year. This corresponds to 5 percent growth of which 3 percent is organic growth. The operating profit (EBITDA) reached EUR 30 million with higher costs than normal due to the ramp-up for the Telematics Infrastructure roll-out.
With this result, it has been a good start to the year for CGM. Especially the high margin doctor, dental and pharmacy software business had a solid first 3 months with combined 5 percent organic growth. In addition, the testing in the strategically important pilot project for the electronic health card and Telematics Infrastructure in the Northwest region of Germany has been very positive and all test installations have now been successfully connected to this new information superhighway for German healthcare. As a result, CGM has exceeded the project target of half a million online card tests more than two months before the end of the trial period. Based on the successful results so far, CGM assumes that the nationwide roll-out of the Telematics Infrastructure can start from July 2017 onward.
CGM also recently published a study by PwC Strategy& named "eHealth Efficiency Potential" together with the German Federal Association for Healthcare IT companies. The key findings of this study: The possibilities of eHealth are still largely unused while the efficiency improvement potential for German healthcare alone corresponds to about 39 billion of annual savings. In addition, a full usage of available eHealth solutions leads to significant improvements in medical outcomes. In order to exploit this potential in Germany, the Telematics Infrastructure plays a key role as a central network and as a platform for electronic patient records.
Frank Gotthardt, CEO and Chairman of the Board of CompuGroup Medical SE, stated: "We are steadily closing in on arguably the most significant milestone in our corporate history: The start of the nation-wide roll-out of the Telematics Infrastructure in Germany. This is not just of great importance to CGM but is also highly significant for all participants in healthcare in Germany including all citizens and carriers of the new electronic health card. The benefits of such an infrastructure have been clearly shown in the eHealth study recently published and we look forward to help Germany and other healthcare economies realize the vast potential that lies within the products and solutions that we and other eHealth companies can provide."
CGM reaffirms the full year 2017 guidance presented in the 2016 Annual Report. Group revenue is expected to be in the range of EUR 600 million and EUR 630 million and operating profit (EBITDA) between EUR 138 million and EUR 150 million.
Conference Call for Journalists, Investors and Analysts: The management board of CompuGroup Medical SE will go through the results at a conference for analysts and investors today at 15:00 hours CET.
You can participate in this conference call by dialing one of the following phone numbers: +49 (0) 69 2 10 86 97 03 (Germany) +44 (0) 16 16 01 89 02 (UK) +1 (0) 21 33 75 04 79 (USA)Participant code: 18 56 12 70
A presentation will be available for download on www.cgm.com/investor-relations prior to the conference call and can also be viewed live at: www.cgm.com/onlinepresentation.About CompuGroup Medical SE CompuGroup Medical is one of the leading eHealth companies in the world. With a revenue base of more than EUR 550 million, its software products are designed to support all medical and organizational activities in doctors' offices, pharmacies, laboratories and hospitals. Its information services for all parties involved in the healthcare system and its web-based personal health records contribute towards safer and more efficient healthcare. CompuGroup Medical's services are based on a unique customer base of approximately 400,000 doctors, dentists, pharmacists and other service providers in inpatient and outpatient facilities. With locations in 20 countries and products in more than 40 countries worldwide, CompuGroup Medical is the eHealth company with one of the highest coverage among eHealth service providers. Approximately 4,300 highly qualified employees support customers with innovative solutions for the steadily growing demands of the healthcare system.
Editorial Staff Contact Information:
CompuGroup Medical SE Oliver Bruzek Vice President Political & Public Affairs T +49 (0) 261 8000-6100 F +49 (0) 261 8000-3100 E-Mail: email@example.com
04.05.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: CompuGroup Medical SE Maria Trost 21 56070 Koblenz
Germany Phone: +49 (0)261 8000 6200 Fax: +49 (0)261 8000 3200 E-mail: firstname.lastname@example.org Internet: www.cgm.com ISIN: DE0005437305 WKN: 543730 Indices: TecDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service