EANS-News: CompuGROUP Holding AG - First Quarter Results 2010
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3-month report
CompuGROUP Holding AG today presented the financial report for the first quarter of 2010. The company, one of the leading global providers of eHealth solutions, achieved revenue of EUR 69.3 million, an increase of 7 percent compared to the same period of 2009. Operating profit (EBITDA) came in at EUR 12.6 million, up from EUR 11.9 million in the first quarter of 2009. Cash net income increased from EUR 7.3 million in the first quarter 2009 to EUR 7.5 million in the first quarter 2010, corresponding to a Cash net income per share of 15 Cent (Q1/2009: 14 Cent). The quality of earnings is strong with an operating cash flow of EUR 31.0 million, almost double the amount of the first quarter last year.
With this result, CompuGROUP Holding AG continues its strategy and growth based on the greatest coverage among healthcare providers (physicians, dentists, hospitals etc.) worldwide. In the HPS (Health Provider Services) business segment, revenue was EUR 55.3 million compared to EUR 47.4 million in the first quarter of 2009. This represents an increase of 17 percent. In the HCS (Health Connectivity Services) business segment, special market conditions affected sales during the first quarter of 2010 resulting in revenue of EUR 13.9 million compared to EUR 16.1 million in the first quarter of 2009.
It should be noted that the first quarter results include a one-off, non-cash, loss on sale of shares in medi cine medienproduktions GmbH of EUR 0.5 million. Also, the business of Innomed Gesellschaft für medizinische Softwareanwendungen GmbH, Austria, is not consolidated for the first quarter (pro-forma figures: Revenue EUR 1.3 million, EBITDA EUR 0.6 million). Retroactive consolidation from 01.01.2010 expected beginning with the second quarter report when transaction closing is complete.
CompuGROUP also made further progress during the reporting period to develop its business relationship with the health insurance funds in Germany. A successful first implementation of the product "Smart Exchange" was performed for one statutory health insurance company during the first quarter. Smart Exchange is a system to safely and systematically drive higher levels of generic substitution to save care costs without sacrificing care quality. The two existing diabetes management pilots, including the AV+ pilot with AOK Hessen that has been operating since 2007, have continued unchanged during the first three months of 2010. There is a good pipeline for additional diabetes management contracts both in new regions and with new health insurance companies. In total, a positive trend within Workflow & Decision Support is expected in the coming quarters of 2010.
Frank Gotthardt, Chairman of the Board of CompuGROUP Holding AG, stated: "Growth and profit for the first quarter this year do not reflect the growth- power we predict for the total year 2010, but fully comply with our internal planning for the course of the year. Not least, the strong order booking reaffirms our expectations for the business development in the upcoming quarters."
CompuGROUP reaffirms the guidance for 2010 presented in the Annual Report 2009:
Revenue is expected to be in the range of EUR 315 million to EUR 330 million. Operating income (EBITDA) is expected to be in the range of EUR 67 million to EUR 73 million.
About CompuGROUP Holding AG CompuGROUP is one of the leading e-health companies worldwide. Its software products, designed to support all medical and organizational activities in doctors´ offices 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. The services of CompuGROUP are based on its unique customer base of around 360,000 doctors, dentists, hospitals and networks as well as other service providers. CompuGROUP is the e-Health company with the biggest coverage among e-health service providers worldwide. The company operates in 14 European countries, Malaysia, Saudi Arabia, South Africa and in the USA and currently employs around 2,800 people.
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 15:00 hours CEST. 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: 18561270
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.
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