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CompuGROUP Holding AG

EANS-News: CompuGROUP Holding AG
CompuGROUP increases revenue by 36 percent in the first quarter of 2009

Koblenz (euro adhoc) -

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finances/Figures quarter 1 - 2009
In the first three months of the business year
2009, CompuGROUP Holding AG, one of the leading e-Health providers 
worldwide, has increased its group-wide sales by 36 percent compared 
to the same period in the previous year. The operating profit 
decreased from EUR 12.8 million in 2008 down to EUR 11.9 million, 
mainly because of acquisition related restructuring processes and 
regulatory implications. Business development activities remain at a 
high level and CompuGROUP has begun the HIS deliveries to hospitals 
in Asia.
CompuGROUP continues to pursue its growth strategy. The revenue 
reached EUR 64.5 million in the first quarter of 2009 compared to EUR
47.5 million in the same period last year. The Koblenz-based group 
decreased its earnings before taxes, interest, depreciation and 
amortization (EBITDA) by EUR 0.9 million to EUR 11.9 million. This 
result corresponds to an EBITDA margin of 18 percent. Cash flow from 
operations increased to EUR 16.0 million, up from EUR 9.0 million in 
the first quarter of 2008.
Depreciation and amortization during the first three months of 2009 
amounted to EUR 7.6 million compared to EUR 5.5 million in the same 
period of 2008. This increase is mostly related to acquisitions.
Earnings after tax for the reporting period were EUR 1.7 million, 
down from EUR 5.0 million last year. This change is mostly related to
the increased amortization and depreciation as well as increased 
financial expenses compared to the same period in 2008.
In the HPS segment, the company records a strong delivery and expects
an accelerated growth and improving margins for the rest of 2009. 
Concerning the HCS business, it is on stabilized basis in Germany. 
Further on, CompuGROUP has started to implement the HIS deliveries to
hospitals in Asia. The guidance for 2009 is reaffirmed.
In February, CompuGROUP has entered into the US market by an 
agreement with Noteworthy Medical Systems, Inc. for the purchase of 
51.6 percent of the shares in the Ohio-based company. Noteworthy is a
provider of connected healthcare technology solutions for the primary
care sector and offers a complete suite of applications, from 
web-based practice management to EHR software and tools for turn-key 
health information exchange.
Outlook
CompuGROUP reaffirms the guidance stated in the financial report for 
the fourth quarter and preliminary annual results for 2008 issued in 
January this year: The management board of CompuGROUP holding AG 
expects revenue growth to reach or exceed 25 percent and EBITDA to 
reach or exceed EUR 59 million.
In the HPS segment, the implementation of new hospital contracts and 
the changing business model in Germany is expected to accelerate 
growth and increase margins over the rest of 2009. The new 
acquisitions in USA and France are expected to contribute negatively 
to EBITDA during 2009. In total, year-on- year growth in the HPS 
segment is expected to reach or exceed 35 percent with increasing 
EBITDA margin.
In the HCS segment, the forecast assumes that the business volume 
during the first quarter will remain stable, with a gradual increase 
in insurance-related revenue during the second half of the year. In 
total, the HCS segment is expected to decline in revenue and EBITDA 
by approximately 10 percent relative to 2008.
Based on external revenue, the EPS segment is expected to experience 
negative operating margin also for the remainder of 2009.
Relevant figures at a glance
|                                  |03/2009     |03/2008     |
|                                  |in thousand |in thousand |
|                                  |EUR           |EUR           |
|Revenue                           |64,514      |47,545      |
|EBITDA                            |11,912      |12,832      |
|in %                              |18 %        |27 %        |
|EBITA                             |10,851      |12,214      |
|in %                              |17 %        |26 %        |
|EBIT                              |4,272       |7,302       |
|in %                              |7 %         |15 %        |
|EPS (EUR)                           |0.03        |0.09        |
|Cash net income *                 |7,321       |9,466       |
|in %                              |11 %        |20 %        |
|Cash flow from operating          |15,956      |9,011       |
|activities                        |            |            |
|Cash flow from investing          |-13,868     |-11,265     |
|activities                        |            |            |
|of which equity acquisitions      |-6,495      |-9,295      |
|Number of shares outstanding      |51,450      |52,491      |
|(´000)                            |            |            |
|Net debt                          |110,929     |-21,559     |
* Cash net income: net income before minority interests plus 
amortization on intangible assets except for amortization on in-house
capitalized software.
Conference Call for Journalists, Investors and Analysts: The 
management board of CompuGROUP Holding AG will go through the Q1 
results at a conference for analysts and investors today at 17:00 
hours CET. The conference will be broadcast live via telephone (see 
the following list of telephone numbers). Its recording can be 
replayed later.
You can participate in this conference call by dialing one of the 
following phone numbers: +49 69 210869703 (Germany) +44 16 16018902 
(UK) +1 2153054495 (USA) Participant code: 671361
At the beginning of the conference call, a presentation will be made 
available for download on the CompuGROUP website at 
www.compugroup.com.
The presentation can be viewed live at
https://compugroup.webex.com/compugroup/j.php?ED=121470207&UID=0
At the beginning of the conference call, a presentation will be made 
available for download on the CompuGROUP website at 
www.compugroup.com.
About CompuGROUP Holding AG CompuGROUP is one of the leading e-health
companies in the world. Its software products designed to support 
medical and organizational activities in physicians' surgeries and 
hospitals, its information services for all parties involved in the 
health sector and its Web-based personal medical files contribute to 
the development of a more reliable and efficient health service 
system. The basis for the services offered by CompuGROUP is an 
unparalleled customer base comprising some 326,000 physicians, 
dentists, hospitals and networks, as well as other service providers.
CompuGROUP is the e-health company with the widest global reach among
service providers. The firm operates in 14 European countries, 
Malaysia, Saudi Arabia, South Africa and the U.S. and currently 
employs roughly 2,700 people.
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end of announcement                               euro adhoc

Further inquiry note:

Barbara Zörner
Tel.: 0261-8000 1293
E-Mail: bzo@compugroup.com

Branche: Software
ISIN: DE0005437305
WKN: 543730
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade

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