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05. November 2015, Koblenz

CompuGroup Medical AG Third Quarter Results 2015

Koblenz – November 5, 2015: CompuGroup Medical AG today presented the financial report for the third quarter of 2015. The company, one of the leading global providers of eHealth solutions, achieved revenue of EUR 126 million which is unchanged compared to last year. The flat revenue development reported for the quarter is due to revised assumptions for the German Telematics Infrastructure pilot project as well as certain hospital projects. Year to date, revenue grew 6 percent to EUR 396 million.

The project changes also impact the profitability in the third quarter, where provisions have been made also for expected additional future project costs. Including these provisions, the consolidated EBITDA amounted to EUR 20 million compared to EUR 23 million in 2014 and the corresponding operating margin was 17 percent compared to 18 percent in 2014. Year to date, EBITDA grew from EUR 68 million to EUR 79 million and operating margin increased from 18 percent to 20 percent.

Despite the significant increase in implementation time and costs, the Telematics Infrastructure pilot project is a success story for CGM, given the preconditions, with all deliverables to date completed according to agreed quantity, quality and timeline. The project and CGM’s investments bring unique capabilities to CGM with a complete suite of end-to-end components, hardware and software, fully certified to relevant standards and ready in time for the planned start of the nation-wide roll-out of the Telematics Infrastructure in the middle of 2016. CGM will have a head start to other participants in the future market for IT infrastructure products and services for healthcare all over Germany, and will enjoy this leadership position with most investments already made and with technology challenges already mastered.

In the United States, the revenue side of the business has reached a turning point following the transition to a more subscription based business model and the ending of some legacy product lines during 2014. In local currency, revenue continues its sequential growth and was in local currency up 3 percent year-on-year. Due to the significant strengthening of the US dollar, reported revenue in the US grew 25 percent year-on-year.

Frank Gotthardt, CEO and Chairman of the Board of CompuGroup Medical AG, stated: “CGM is satisfied with its achievements in the German Telematics Infrastructure pilot project and sees this as a sound investment in future growth opportunities for the Group. We always said that we would do what it takes to bring this project to a successful completion, and in the third quarter this year, we send a strong signal in this direction. While we are getting ready for the largest growth opportunity in company history in our German home market, I am happy to note that our business in the United States continues its steady improvements both in revenue and profitability and is cementing its position as an important contributor to future organic growth.”

The investments in the German Telematics Infrastructure project have increased during 2015. Due to the fact that these investments are reported as expense, CompuGroup Medical adjusts the full year 2015 guidance presented in the 2014 Annual Report. Group revenue is now expected to be in the range of EUR 541 million to EUR 546 million and operating income (EBITDA) is expected to be in the range of EUR 110 million to EUR 115 million.

Conference Call for Journalists, Investors and Analysts:
The management board of CompuGroup Medical AG will go through the Q3 results at a conference for analysts and investors today at 15:00 hours CEST.

You can participate in this conference call by dialing one of the following phone numbers:

+49 69 2 10 86 97 03 (Germany)
+44 16 16 01 89 02 (UK)
+1 21 53 05 44 95 (USA)
Participant code: 18 56 12 70

A presentation will be available for download on here prior to the conference call and can also be viewed live at: .

About CompuGroup Medical AG
CompuGroup Medical is one of the leading eHealth companies in the world. With a revenue base of more than EUR 500 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 19 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 4,200 highly qualified employees support customers with innovative solutions for the steadily growing demands of the healthcare system.

Contact for Editorial Staff:
CompuGroup Medical AG
Oliver Bruzek
Vice President Political & Public Affairs
P +49 (0) 261 8000-6100
F +49 (0) 261 8000-3100


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