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05. February 2018, Koblenz

CompuGroup Medical SE – Preliminary Results 2017

CompuGroup Medical SE (CGM) today presented the preliminary financial report for the fourth quarter and full year 2017. The Koblenz company, one of the leading global providers of eHealth solutions, delivered a fourth quarter revenue of EUR 164 million – this corresponds to a growth of 6 percent compared to EUR 154 million in the same period of last year. With an operating margin of 23 percent, consolidated operating profit before interest, taxes, depreciation, and amortization (EBITDA) increased from EUR 36 million in 2016 to EUR 37 million in 2017.

CGM can look back on a very good financial year with this result, even if the potential for the nationwide rollout of the telematics infrastructure (TI) in the fourth quarter could not be fully exploited. As a great success, CGM received all necessary approvals in November and was the first company able to offer the complete chain of required TI components and services to doctors and dentists in Germany. In December, the final component in the overall network design, the so-called practice or institutional card for doctors, was approved, and after all requirements had been met, CGM closed 2017 with about 12,000 orders for the TI connection package, out of which about 4,700 were installed by the end of December. All other business areas concluded the year strongly and delivered revenue in line with the original forecast for the full year. The progress in the hospital business with 5 percent organic growth was even better than expected.

In the full year of 2017, group revenue continues to grow steadily and reached EUR 582 million; the consolidated profit (EBITDA) amounts to EUR 129 million. This equates to a growth of 2 percent and an operating margin of 22 percent.

Frank Gotthardt, CEO and Chairman of the Board of CompuGroup Medical SE states: "I am very pleased to finish 2017 overall positively. Despite the delays we experienced in the telematics infrastructure, the roll-out has now started and the connection of the first almost 5,000 doctor's offices in only about 4 weeks has already created a sizable network. This and further progress in all other business areas make us look into the future with optimism."

For 2018, CGM expects the continuation of its growth path and an improvement in profitability. The company expects full-year revenues of between EUR 700 million and EUR 730 million and an EBITDA of between EUR 175 million and EUR 190 million.

The audited figures and the 2017 Annual Report will be published on March 29, 2018.


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