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03. February 2017, Koblenz

CompuGroup Medical SE – Preliminary Results 2016

CompuGroup Medical SE (CGM) today presented the preliminary and unaudited financial report for the fourth quarter and full year 2016. The company, one of the leading global providers of eHealth solutions, delivered fourth quarter revenue of EUR 154 million, up 5 percent from EUR 147 million in 2015. Fourth quarter operating profit (EBITDA) increased 11 percent from EUR 33 million in 2015 to EUR 37 million this year.

With this result, CGM delivers a strong finish to 2016. Especially the high margin international doctor software business rebounded strongly and was the main contributor to the organic growth in the quarter. In the pharmacy software sector, the double digit growth came both from new distributors acquired in Italy and from the organic growth initiatives launched in June which continued its positive impact on revenue from hardware, software and services until the end of the year.

For the full year 2016, revenue continues to steadily grow and reached EUR 560 million. Profitability in 2016 is two percentage points higher than last year and drives a 13 percent increase in EBITDA up to EUR 127 million.

Several positive operational developments also took place during the quarter, with special attention being made to the strategic electronic health card and Telematics Infrastructure pilot project in Germany. One of the key hardware components to be developed and delivered in the project, the so-called ‘Konnektor’, was in November given its formal security certificate by the Federal Office for Information Security (BSI) and the installation of pilot users in region North-West could then begin. The first application in the infrastructure has already been successfully tested and CGM has now installed 250 out of the contracted 506 pilot users and expects to complete the remaining test installations by the end of the first quarter 2017.

Frank Gotthardt, CEO and Chairman of the Board of CompuGroup Medical SE, stated: “I am very pleased to finish 2016 on a very positive note. Our commitment towards more efficiency and margin expansion has been clearly stated and we are delivering on our promise in this area again. In addition, we are of course excited about the role we expect to play in the coming implementation of the new eHealth law in Germany and to move towards higher organic growth from 2017 onwards based on the adoption of a completely new range of eHealth products and services in our home market.”

For 2017, CGM expects to continue on its growth trajectory and again improve its profitability. In summary, revenue is expected to be between EUR 600 million and EUR 630 million and operating profit (EBITDA) between EUR 138 million and EUR 150 million.

CGM’s Annual Report including full year 2016 audited financials will be published on 31 March 2017.

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