CompuGroup Medical SE & Co. KGaA

Latest Results (23.05.2024):

Revenue Overview

In the first quarter of 2024, CompuGroup Medical SE & Co. KGaA reported a slight decline in revenue by 2% year-over-year, primarily due to one-time effects in the telematics infrastructure. However, when adjusted for the effects from the TI connector exchange, the organic revenue growth was positive at 3%. Recurring revenues increased by 7% to EUR 213 million, accounting for 75% of the total revenue.

Earnings Performance

CompuGroup Medical SE & Co. KGaA's adjusted EBITDA for the first quarter of 2024 rose by 1% to EUR 61 million. The adjusted earnings per share also increased to EUR 0.47, supported by the divestiture of the company's business activities in Turkey. The free cash flow for the first three months stood at EUR 59 million, and the debt ratio was reduced from 2.8 times the adjusted EBITDA of the last 12 months as of March 2023 to 2.6 times.

AIS Segment Performance

The AIS segment of CompuGroup Medical SE & Co. KGaA, which now includes the former CHS segment, saw a decrease in revenue to EUR 172 million in the first quarter of 2024, down 6% from the previous year. This decline was due to one-time effects related to the exchange of connectors in the telematics infrastructure in the first quarter of 2023. Adjusted for these effects, organic revenue grew by 3%. Recurring revenues in the AIS segment increased by 5%, representing 76% of the segment's revenues.

HIS Segment Growth

The HIS segment of CompuGroup Medical SE & Co. KGaA experienced a revenue increase of 7% to EUR 78 million in the first quarter of 2024. Organic revenue growth was 6%, mainly driven by revenues from the ongoing realization of projects related to the Hospital Future Act. Recurring revenues in this segment grew by 11% to EUR 57 million, accounting for 73% of the total segment revenue.

PCS Segment Analysis

In the PCS segment, CompuGroup Medical SE & Co. KGaA faced a slight decrease in revenue in the first quarter of 2024, down 2% year-over-year to EUR 34 million, influenced by one-time hardware sales in Italy. However, recurring revenues increased by 6% to EUR 25 million, making up 72% of the segment's total revenues.