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04. February 2019, Koblenz

CompuGroup Medical SE – Preliminary Results 2018

CompuGroup Medical SE (CGM), one of the world's leading providers of eHealth solutions, today announced the preliminary financial results for the fourth quarter and full fiscal year 2018. The Koblenz-based company closed the fourth quarter with revenues of EUR 194 million, representing organic growth of 18 percent compared with EUR 164 million in the same period of the previous year. With an operating margin of 26 percent, consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) rose from EUR 37 million (2017) to EUR 51 million in the fourth quarter of 2018.

Group revenues for the full fiscal year continue to grow and reached EUR 717 million. The consolidated net profit (EBITDA) amounts to EUR 182 million. This corresponds to a growth of 23 percent and an operating margin of 25 percent. Revenues and profit are in line with the guidance for 2018. For the 2019 fiscal year, revenues of between EUR 720 million and EUR 750 million and EBITDA of between EUR 190 million and EUR 205 million are expected.

With this result, CGM can look back on a successful 2018 fiscal year, to which in particular the nationwide rollout of the telematics infrastructure (TI) in Germany contributed. After CompuGroup Medical had made extensive investments in this area in recent years, the company was able to reliably deliver large numbers of certified TI packages to medical practices, dental practices, and hospitals in 2018. Despite extensions to the deadline for doctors and dentists and the market entry of further competitors from September on, CGM remains the leader in products and services for telematics infrastructure connectivity. By December 31, 2018, some 46,000 orders had been received for the CGM connectivity package, of which 42,000 had already been delivered by the end of the year. More than a quarter of orders come from customers who do not use any primary software from CGM.

The strong growth and the successful first phase of the implementation of the telematics infrastructure are also reflected in the revenues of the Ambulatory Information Systems (AIS) division, which amounted to EUR 461.9 million in 2018. In the pharmacy and hospital business, revenue exceeded original expectations whereas the health connectivity services segment maintained revenues broadly in line with the original outlook.

Frank Gotthardt, CEO and Chairman of the Board of CompuGroup Medical SE, emphasizes: "This was an important year for our company. Not only were we able to clearly reach our targets in the established business areas around the world, we were also able to demonstrate clear market leadership in building a nationwide telematics infrastructure and that our strategic multi-year investments lead to significant organic growth."

The audited figures and the 2018 financial report will be published on March 29, 2019.

Conference call for journalists, investors, and analysts:

The Management Board of CompuGroup Medical SE will present the results in an analyst and investor conference today at 15:00 CET.

To participate in the conference call, please dial one of the following telephone numbers and enter the participation code:

+49 (0) 69 2 22 22 90 43 (Germany)
+44 (0) 2 03 009 24 52 (UK)
+1 (0) 85 54 02 77 66 (USA)

Participation code: 66 28 70 42#

A presentation will be available at at the beginning of the conference call. You can follow the presentation live here.


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