Koblenz - November 12, 2014: CompuGroup Medical AG today presented the financial report for the third quarter of 2014. The company, one of the leading global providers of eHealth solutions, achieved revenue of EUR 125.8 million, compared to EUR 111.4 million in the third quarter 2013. This represents 13 percent year-on-year growth of which 6 percent is organic growth at constant exchange rates.
The pharmacy software business had a particularly strong quarter with 15 percent organic growth in the established German and Italian operations and a further 20 percent growth contribution from the new companies acquired in Italy.
The doctor and dental software business in Europe also continued its positive development with 7 percent year-on-year organic growth at constant exchange rates. In Germany, a significant part of the growth is related to the telematics infrastructure and Electronic Health Card (eGK) pilot project. After the first nine 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.
For the business in the United States, the positive trend from the start of 2014 fell off slightly in the third quarter. In terms of sales and order bookings, the outcome in the third quarter 2014 was higher than the same period last year, but sequentially lower than in the second quarter this year.
Operating profit (EBITDA) amounted to EUR 23.2 million compared to EUR 25.3 million in the third quarter last year. According to budget, the operating margins in 2014 remain lower than the Group's inherent potential due to a range of special activities and projects during this year. Cash net income increased from EUR 12.4 million in the third quarter 2013 to EUR 18.0 million in 2014 and Earnings per share (EPS) grew from EUR 0.11 the previous year to EUR 0.21.
Frank Gotthardt, CEO and Chairman of the Board of CompuGroup Medical AG, stated: "Our business is growing the way it should. In terms of profitability, our third quarter results include restructuring costs and temporarily low margins related to our recent acquisitions and we are making solid progress. On the other hand these acquired companies in Italy and The Netherlands greatly improve our market position there. All in all, I am happy with the progress we are making and we are on the right track to build an even stronger CGM for the future."
CompuGroup Medical reaffirms the full year 2014 guidance presented in the 2013 Annual Report. Group revenue is expected to be in the range of EUR 518 million to EUR 528 million (increased by 8 million euro through acquisitions made in 2014) 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://compugroupG3.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
Vice President of Politics and Corporate Communication
T +49 (0) 261 8000-6100
F +49 (0) 261 8000-3100