EANS-News: CompuGroup Medical AG - First Quarter Results 2011
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quarterly report
Koblenz (euro adhoc) - May 4, 2011: CompuGroup Medical AG today presented the financial report for the first quarter of 2011. The company, one of the leading global providers of eHealth solutions, achieved revenue of EUR 90.3 million, an increase of 30 percent compared to the same period in 2010. Operating profit (EBITDA) came in at EUR 14.0 million, up from EUR 12.6 million in the first quarter last year. Cash net income increased 8 percent from EUR 7.5 million in the first quarter 2010 to EUR 8.1 million in the first quarter 2011.
With this result, CompuGroup Medical AG continues its strategy and growth based on the greatest coverage among healthcare providers (physicians, dentists, hospitals etc.) worldwide. The strong 17 percent organic growth in the HCS (Health Connectivity Services) business segment is a solid rebound from last year based on CGM´s unique products and services to facilitate networking between various healthcare participants. Newly acquired companies drive revenue growth in the HPS (Health Provider Services) business segment up to 33 percent of which 5 percent is organic growth. A challenging start to 2011 in the US is due to lower than expected efficiency in acquired companies, and this leads to a decline in operating margin which went from 18 percent during the first quarter of 2010 to 15 percent in the same period this year.
Frank Gotthardt, Chairman of the Board of CompuGroup Medical AG, stated: "We are certainly excited about the solid performance in European markets and especially pleased with the rebound in HCS revenue. With the consolidation and restructuring of the US business now about to be completed we are confident to bring CompuGroup Medical to a new level of growth and profitability in the second half of 2011."
CompuGroup Medical adjusts the full year 2011 guidance to reflect the development in the US. Group revenue is expected to be in the range of EUR 385 million to EUR 410 million and operating income (EBITDA) is expected to be in the range of EUR 81 million to EUR 88 million.
Conference Call for Journalists, Investors and Analysts: The management board of CompuGroup Medical AG will go through the Q1 results at a conference call for analysts and investors today at 15:00 hours CEST.
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 Medical website at www.cgm.com. The presentation can be viewed live at https://compugroup.webex.com.
About CompuGroup Medical AG
CompuGroup Medical is one of the leading eHealth companies in the world. Its software products are 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. CompuGroup Medical´s services are based on a unique customer base of over 380,000 doctors, dentists, hospitals and networks as well as other service providers. CompuGroup Medical is the eHealth company with one of the highest coverage among eHealth service providers worldwide. Approximately 3300 highly qualified employees in 25 countries support customers with innovative solutions for the steadily growing demands of the healthcare system.
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Contact:
CompuGroup Medical AG
Barbara Müller
Consultant Press & Media
P +49 (0) 261 8000-1293
F +49 (0) 261 8000-3284
E-Mail: press@cgm.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