Koblenz - August 7, 2014: CompuGroup Medical AG today presented the financial report for the second quarter of 2014. The company, one of the leading global providers of eHealth solutions, achieved revenue of EUR 126.3 million, compared to EUR 109.5 million in the second quarter 2013. This represents 15 percent year-on-year growth of which 8 percent is organic growth at constant exchange rates. Operating profit (EBITDA) amounted to EUR 23.3 million compared to EUR 18.7 million in the second quarter last year, corresponding to a 25 percent increase.
With this result, CompuGroup Medical delivered a solid second quarter. It is especially the solid doctor and dental software business that continues to grow strongly, both organically and through recent acquisitions for a combined increase of 16 percent. The positive trend is even more pronounced in the pharmacy software business with 43 percent growth in the quarter of which 10 percent is organic growth.
For the business in the United States, the positive trend from the start of 2014 continued in the second quarter with revenue sequentially growing compared to the first quarter. In terms of sales and order bookings in the United States, the outcome in the second quarter 2014 showed continued improvement and was over 60 percent higher than the same period last year.
In Germany, a significant part of the growth is related to the telematics infrastructure and Electronic Health Card (eGK) pilot project. After the first six months, the project is on track to meet all its objectives within the specified two year timeframe. This means that the telematics infrastructure network will be ready by 2016 for a potential nation-wide connection of all clinics and hospitals in Germany.
Frank Gotthardt, CEO and Chairman of the Board of CompuGroup Medical AG, stated: "Underneath the solid growth and profitability figures this quarter, we are executing in parallel on a broad range of integration activities related to newly acquired companies as well as other planned special cost reduction and growth initiatives. In summary, we are happy with how business currently develops and have a good momentum for the rest of 2014. "
CompuGroup Medical reaffirms the full year 2014 guidance presented in the 2013 Annual Report. Group revenue, including smaller acquisitions made during the second quarter, is expected to be in the range of EUR 514 million to EUR 524 million and operating income (EBITDA) is expected to be in the range of EUR 100 million to EUR 110 million.
Conference Call for Journalists, Investors and Analysts:
The management board of CompuGroup Medical AG will go through the Q2 results at a conference for analysts and investors today at 15:00 hours CET.
You can participate in this conference call by dialing one of the following phone numbers:
+49 (0) 69 2 10 86 97 03 (Germany)
+44 (0) 16 16 01 89 02 (UK)
+1 (0) 21 53 05 44 95 (USA)
Participant code: 18 56 12 70
A presentation will be made available for download on the CompuGroup Medical website at www.cgm.com. The presentation can also be viewed live at https://compugroup.webex.com/
About CompuGroup Medical AG
CompuGroup Medical is one of the leading eHealth companies in the world. With a revenue base of approximately 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 over 400,000 doctors, dentists, hospitals, pharmacies and networks as well as other service providers. With locations in 19 countries and customers in 43 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 media representatives:
CompuGroup Medical AG
Press and Media Consultant
T +49 (0) 261 8000-6100
F +49 (0) 261 8000-3100