Today CompuGroup Medical reported preliminary fourth quarter and full fiscal year 2010 results. With revenues of 313 million euros and earnings before taxes, depreciation and amortization (EBITDA) of 67 million euros, the Koblenz-based CompuGroup Medical AG, who specializes in the healthcare information technology sector (HIT), continues to grow its business volume, this year with 7 percent. With increasing operating margin, the full year cash net income increased 25 percent from 35 million euros in 2009 to 44 million euros in 2010.
With approximately 3,300 employees in 25 countries, CompuGroup Medical develops ambulatory (AIS) and hospital information systems (HIS), Web based electronic health record services and very effective and most secure connectivity solutions for all participants in the healthcare system. 2010 marked another year of growth and CFO Christian B. Teig could announce a revenue increase of 7 percent and 14 percent growth in operating profit up to 67 million euros in 2010.
“We are satisfied with the results for 2010 even if revenue came in slightly lower than expected. Underneath our reported results lies a tremendous amount of work which not only carried us forward last year but which will also propel us stronger into this year. With the progress we have made in our operations and business development we are confident that the organic growth rate will increase in 2011 with the newly acquired companies adding further to our expansion.”
For the 4th quarter isolated, CompuGroup Medical reached another set of record results, with revenue of 91.2 million euros and EBITDA of 20.7 million euros. It is the performance of the HPS (Health Provider Services) business segment that drives the business forward. In this segment, revenue was 72.7 million euros compared to 65.5 million euros in the fourth quarter of 2009. Revenue in the HCS (Health Connectivity Services) segment also increased, going from 18.0 million euros in the 4th quarter of 2009 to 18.6 million euros in 2010.
“I am happy about the growth of our business and the performance of our employees,” said Frank Gotthardt, Founder and Chief Executive Officer. “We also closed 2010 with a series of exciting acquisitions that will bring us additional exciting new opportunities. This gives us a flying start to the new year on top of all the exciting plans we have to grow our existing business.”
For 2011 CompuGroup Medical expects revenue between 395 and 420 million euros and operating profit (EBITDA) between 86 and 93 million euros.
CGM-s Annual Report including full year 2010 audited financials will published on 24 March 2011.
CompuGroup Medical 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 Medical are based on its unique customer base of around 370,000 doctors, dentists, hospitals and networks as well as other service providers. CompuGroup Medical is the e-health company with one of the biggest coverage among ehealth service providers worldwide. The company operates in 18 European countries as well as in Brazil, Chile, Malaysia, Morocco, Saudi Arabia, South Africa and in the USA and currently employs around 3,300 people.
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