(Boursier.com) — In the 4th quarter of 2022, Cegedim recorded consolidated revenue of 154.7 million euros, up +4.1% on a reported basis and +2.9% on an organic basis, compared to the same period in 2021. This growth last quarter stems mainly from December 2022, which saw its revenue increase by +0.4% compared to December 2021, i.e. the weakest monthly growth of the year. This figure will have an impact on the annual current margin.
In 2022, revenue grew by +5.9% in published data and +5.1% in organic data, compared to 2021.
Prospects displayed
The launch of Cegedim Santé’s development plan and the decline in revenue in the United Kingdom will have a negative impact on 2022 Current Operating Income.
Based on the data currently available, the Cegedim Group anticipatesgrowth in its 2023 turnover in a range of 6% to 9% compared to 2022.
The Group does not anticipate any significant acquisition in 2023… Finally, Cegedim does not communicate profit forecasts or estimates.
“This rather disappointing Q4 publication leads us to anticipate a slightly more marked decline in ROC S2” commented Portzamparc. “In addition, we understand that the discussions are difficult to pass the price increases on the non-indexed turnover (75% global turnover), which adds elements of uncertainty in the short term… After updating our model (scenarios, peers and market parameters), we raise our target from 16.6 to 19.1 euros, but remain to ‘Hold’ on the title” concludes the analyst. The title rises 1% this Friday to 19 euros.
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