CompuGroup Medical Reports First Quarter Financials for 2024

CompuGroup Medical SE & Co. KGaA announced its financial results for the first quarter of 2024, showing a decrease of 2% in group revenues compared to the prior year, influenced by one-off effects in the Telematics Infrastructure. However, organic growth stood at 3% when adjusted for these one-offs. Recurring revenues increased by 7% to EUR 213 million, accounting for 75% of total revenue, with adjusted EBITDA rising 1% to EUR 61 million, and adjusted EPS increasing to EUR 0.47.

In Germany and France, the company reports significant progress in the digitization of healthcare, with a substantial increase in electronic prescriptions and digital health documents. This advancement has contributed to a 3% organic revenue growth in the AIS segment. The HIS segment saw a 7% growth, driven by ongoing projects related to the Hospital Future Act. Meanwhile, the PCS segment revenues slightly declined due to previous one-off hardware sales in Italy.

CompuGroup Medical has decided to focus on annual rather than mid-term financial guidance, projecting organic revenue growth between 4% and 6% for 2024, with adjusted EBITDA projected to range between EUR 270 million and EUR 310 million. This approach reflects a cautious but optimistic outlook for ongoing growth and stability in core markets.