PRESS RELEASE |
Quarterly financial information as of
IFRS - Regulated information - Not audited
- Fourth quarter revenues up 7.9% like for like
- 2023 revenue of €616 million, up 10.8% like for like
- All operating divisions contributed to growth
Revenue
Fourth quarter | Change Q4 2023 / 2022 | Full year | Change 2023 / 2022 | |||||
in millions of euros | 2023 | 2022 | Reported | Like for like(1)(2) | 2023 | 2022 | Reported | Like for like(1)(2) |
Software & services | 84.4 | 81.1 | 4.0% | 4.0% | 326.6 | 302.0 | 8.2% | 8.0% |
Flow | 24.8 | 23.9 | 3.8% | 3.8% | 95.9 | 90.6 | 5.9% | 6.0% |
Data & marketing | 35.8 | 34.1 | 5.2% | 5.2% | 114.9 | 106.9 | 7.5% | 7.0% |
BPO | 19.6 | 14.6 | 34.8% | 34.8% | 71.5 | 53.0 | 34.9% | 34.9% |
Cloud & support | 2.0 | 0.7 | 187% | 187% | 7.1 | 2.8 | 154.0% | 154.0% |
166.6 | 154.4 | 7.9% | 7.9% | 616.0 | 555.2 | 10.9% | 10.8% |
(1) At constant scope and exchange rates.
(2) The negative currency impact of 0.1% was mainly due to the pound sterling. The positive scope effect of 0.3% was attributable to the first-time consolidation in Cegedim’s accounts of new acquisitions Mesdocteurs, Laponi, and Clinityx.
Cegedim’s consolidated fourth quarter 2023 revenues rose to €166.6 million, up 7.9% as reported and like for like compared with the same period in 2022. Despite some slowing in the fourth quarter relative to the rest of the year, all operating divisions contributed to the Group’s growth over the full year 2023.
In 2023, revenues rose 10.9% as reported and 10.8% like for like compared with 2022, nearly in line with the Group’s expectation of 11%.
Analysis of business trends by division
- Software & services
Software & Services | Fourth quarter | Change Q4 2023 / 2022 | Full year | Change 2023 / 2022 | ||||
in millions of euros | 2023 | 2022 | Reported | LFL | 2023 | 2022 | Reported | LFL |
Cegedim Santé | 18.1 | 19.2 | -5.7% | -5.7% | 76.6 | 69.6 | 10.1% | 8.6% |
Insurance, HR, Pharmacies, and other services | 53.6 | 49.0 | 9.3% | 9.3% | 197.6 | 183.5 | 7.7% | 7.6% |
International businesses | 12.7 | 12.9 | -1.9% | -1.9% | 52.5 | 48.9 | 7.2% | 8.7% |
Software & services | 84.4 | 81.1 | 4.0% | 4.0% | 326.6 | 302.0 | 8.2% | 8.0% |
Cegedim Santé posted a 5.7% drop in fourth-quarter revenue. Because the company received a payment related to Ségur de la Santé public health investments in Q4 2022, the drop was mainly due to a comparison effect. Excluding the Ségur effect, Cegedim Santé posted full-year growth of 5.7%.
Q4 revenues from the division’s other businesses in
International businesses posted 7.2% growth over the full year compared with 2022. Sales to doctors in
- Flow
FLOW | Fourth quarter | Change Q4 2023 / 2022 | Full year | Change 2023 / 2022 | ||||
in millions of euros | 2023 | 2022 | Reported | LFL | 2023 | 2022 | Reported | LFL |
e-business | 14.6 | 13.8 | 5.9% | 5.9% | 57.9 | 53.9 | 7.4% | 7.5% |
Third-party payer | 10.2 | 10.1 | 0.9% | 0.9% | 38.0 | 36.7 | 3.7% | 3.7% |
Flow | 24.8 | 23.9 | 3.8% | 3.8% | 95.9 | 90.6 | 5.9% | 6.0% |
Process digitalization and electronic data flows continue to do well, up 5.9% year on year over the fourth quarter, but the pace of growth slowed relative to prior quarters. Both French and international activities contributed to the growth.
Third-party payer revenues increased 3.7% in 2023, in line with the trend in health spending in
- Data & marketing
Data & Marketing | Fourth quarter | Change Q4 2023 / 2022 | Full year | Change 2023 / 2022 | ||||
in millions of euros | 2023 | 2022 | Reported | LFL | 2023 | 2022 | Reported | LFL |
Data | 21.0 | 21.0 | 0.3% | 0.4% | 64.5 | 61.4 | 5.1% | 4.3% |
Marketing | 14.8 | 13.1 | 13.0% | 13.0% | 50.4 | 45.5 | 10.7% | 10.7% |
Data & marketing | 35.8 | 34.1 | 5.2% | 5.2% | 114.9 | 106.9 | 7.5% | 7.0% |
Revenues in the fourth quarter were stable compared with the same period in 2022. Full-year revenues were up 4.3% like for like and 5.1% as reported, due to the Clinityx acquisition in the second half of 2022.
Marketing activities—whose business model is largely non-recurring—saw strong 13% growth in the fourth quarter, driven by advertising in pharmacies.
- BPO
BPO | Fourth quarter | Change Q4 2023 / 2022 | Full year | Change 2023 / 2022 | ||||
in millions of euros | 2023 | 2022 | Reported | LFL | 2023 | 2022 | Reported | LFL |
Insurance BPO | 14.0 | 8.4 | 66.2% | 66.2% | 49.9 | 32.1 | 55.3% | 55.3% |
HR BPO | 5.6 | 6.1 | -8.3% | -8.3% | 21.5 | 20.8 | 3.4% | 3.4% |
BPO | 19.6 | 14.6 | 34.8% | 34.8% | 71.5 | 53.0 | 34.9% | 34.9% |
The Insurance BPO business posted stellar growth over the full year, chiefly owing to the start of its contract with Allianz on
The HR BPO business had a challenging quarter because of a demanding comparison as a result of several projects launched in Q4 2022, but still managed to grow 3.4% over the full year.
Highlights
Apart from the items cited below, to the best of the company’s knowledge, there were no events or changes during Q4 2023 that would materially alter the Group’s financial situation.
- Acquisition of a majority stake in Phealing
On
Significant transactions and events post
To the best of the company’s knowledge, there were no post-closing events or changes that would materially alter the Group’s financial situation.
Outlook
The Group will announce its full-year results
For 2024, the Group expects like-for-like revenue growth of 5 to 8%.
The Group does not provide earnings estimates or forecasts.
WEBCAST ON |
The webcast is available at: www.cegedim.fr/webcast |
The 2023 revenue presentation is available:
|
2024 financial calendar
2024 | 2023 results SFAF meeting Q1 2024 revenues Shareholders’ meeting H1 2024 revenues H1 2024 results |
Financial calendar: https://www.cegedim.fr/finance/agenda/Pages/default.aspx
Disclaimer This press release is available in French and in English. In the event of any difference between the two versions, the original French version takes precedence. It was sent to Cegedim’s authorized distributor on The figures cited in this press release include guidance on | |||
About Founded in 1969, To learn more please visit: www.cegedim.fr And follow | |||
Media Relations and Communications Manager Tel.: +33 (0)1 49 09 68 81 aude.balleydier@cegedim.fr | Head of Financial Communication Tel.: +33 (0)7 64 63 55 73 damien.buffet@cegedim.com | suPR Media Relations Tel.: +33 (0)6 52 08 13 66 cegedim@becoming-group.com | |
Annexes
Breakdown of revenue by quarter and division
- Year 2023
in millions of euros | Q1 | Q2 | Q3 | Q4 | Total | |||
Software & services | 80.4 | 81.1 | 80.7 | 84.4 | 326.6 | |||
Flow | 24.8 | 23.4 | 22.9 | 24.8 | 95.9 | |||
Data & marketing | 24.6 | 30.3 | 24.1 | 35.8 | 114.9 | |||
BPO | 14.4 | 18.4 | 19.0 | 19.6 | 71.5 | |||
Cloud & support | 1.6 | 1.9 | 1.6 | 2.0 | 2.8 | |||
Group revenue | 145.9 | 155.1 | 148.3 | 166.6 | 616.0 |
- Year 2022
in millions of euros | Q1 | Q2 | Q3 | Q4 | Total | |||
Software & services | 71.2 | 74.4 | 75.2 | 81.1 | 302.0 | |||
Flow | 22.6 | 22.6 | 21.5 | 23.9 | 90.6 | |||
Data & marketing | 22.5 | 27.6 | 22.8 | 34.1 | 106.9 | |||
BPO | 12.3 | 13.1 | 13.0 | 14.6 | 53.0 | |||
Cloud & support | 0.7 | 0.7 | 0.8 | 0.7 | 2.8 | |||
Group revenue | 129.2 | 138.3 | 133.3 | 154.4 | 555.2 |
Revenue breakdown by geographic zone, currency, and division at
as a % of consolidated revenues | Geographic zone | Currency | |||||
ex. | Euro | GBP | Others | ||||
Software & services | 83.9% | 16.0% | 87.0% | 11.4% | 1.6% | ||
Flow | 91.6% | 8.4% | 94.3% | 5.7% | 0.0% | ||
Data & marketing | 97.5% | 2.5% | 97.8% | 0.0% | 2.2% | ||
BPO | 100.0% | 0.0% | 100.0% | 0.0% | 0.0% | ||
Cloud & support | 99.8% | 0.2% | 100.0% | 0.0% | 0.0% | ||
89.7% | 10.3% | 91.8% | 6.9% | 1.3% |
Attachment
- Cegedim_Revenue_4Q2023_ENG
Source:
2024 GlobeNewswire, Inc., source