Release details

2018-11-14 18:00 CET
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PHARMAGEST INTERACTIVE: Q3 2018 revenue: + 19.20 %

Villers-lès-Nancy, 14 November 2018 - 6:00 p.m. (CET)

PRESS RELEASE

  • Q3 2018 revenue: + 19.20 %
  • 9 month revenue: + 15.69 %
  • Very positive outlook for international markets
€m (IFRS 15) 2018 2017 Change
Q1 34.59 30.83  + 12.19 %
Q2 37.56 32.44  + 15.81 %
Q3 (unaudited) 35.43 29.72 + 19.20 %
9 month YTD 107.58 92.99 + 15.69 %
  • Application of IFRS 15 "Revenue from contracts with customers" as from 1 January 2018. All figures presented in the press release have been restated to eliminate the impact of IFRS 15's application. 

       In Q3 2018, the impact for the Group of IFRS 15's application is €5.03 million on a restated basis. Year-to-date at 30 September 2018, the impact for the Group of IFRS 15's application is €16.96 million on a restated basis. These changes are derived almost entirely from the Fintech Division, with the impact on the other activities nonsignificant.
     
   ·       Pharmagest Group achieved excellent performances in Q3 2018 with revenue reaching €35.43 million up 19.20% from Q3 2017 (€29.72 million).

       Like-for-like (restatement of CAREMEDS-MULTIMEDS, AXIGATE, MACROSOFT HOLDING), Q3 2018 revenue amounted to €34.09 million, already representing solid growth of 14.69% vs. Q3 2017.
    
   ·       All Pharmagest Group Divisions registered gains and contributed to this performance.
        
   ·       For the first nine months of 2018, revenue reached €107.58 million with 15.69% growth same period last year. Like-for-like (excluding the acquisitions of CAREMEDS-MULTIMEDS, AXIGATE, MACROSOFT HOLDING), revenue year-to-date was €101.11 million, up 8.74% compared to the first nine months of 2017.
              
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 Operating highlights at 30 September 2018

  • The Pharmacy - Europe Solutions Division was up 14.63% (vs. Q3 2017) on revenue of €27.20 million. At 30 September 2018, the Division sustained a good level of growth (+11.77% in relation to 30/09/2017) with revenue of €83.53 million; the Italy Pharmacy Business Line contributed €3.65 million since its integration on 01/04/2018. This Division accounts for 77.65% of the Group's total revenue.
     
  • The Health and Social Care Facilities Solutions Division confirmed its very strong momentum in Q3 2018, up 61.36% with revenue reaching €5.10 million. This excellent performance was boosted by the effects of MALTA/DICSIT's commercial entities restructuring and the integration of the first results of the AXIGATE solution linked to the call for tenders of the Armor regional hospital group awarded in 05/2018 (€1.9 million in Q3 2018). At 30 September 2018, this Division had revenue of €13.95 million, up 47.64% from 30 September 2017 and representing 12.97% of the Group's total revenue.
     
  • The e-Health Solutions Division had revenue of €2.76 million, up 8.71% from the Q3 2017. The e-Connect Business Line, benefiting from the impact of the SMR (Shared Medical Record), contributed €2.09 million. At 30 September 2018, this Division had revenue of €8.83 million (including €0.95 million from the integration of CAREMEDS-MULTIMEDS), up 13.33% from one year earlier and representing 8.21% of the Group's total revenue.
     
  • The Fintech Division achieved further gains in Q3 2018 with revenue maintaining the pace of 25% registered at 30 June (revenue: €0.37 million). This Division at 30 September 2018 had revenue of €1.27 million compared to €1.01 million one year earlier and representing 1.18% of the Group's total revenue.

          
          
Significant events after 30 September

As part of its strategy to build a global European ecosystem, the Group is continuing to develop additional technological building blocks to reach new users. On that basis, its subsidiary MALTA INFORMATIQUE recently confirmed the launch of a new innovative tele-consultation solution for elderly assisted-living facilities (EHPAD) for improving continuity of care and facilitating communication between the patients and their care network (medical and family).

At the same time, Pharmagest Group is opening up its healthcare platform and building a genuine portfolio of collaborative partnerships. Most recently, the Group has announced the signature of decisive strategic partnerships:

  • through the agreement with Korian (manager of the largest European network of nursing homes, specialised clinics, assisted living facilities, home-based care and hospitalisations), Pharmagest Group reinforces its position as a leading provider of innovative assisted living solutions by helping seniors remain in their homes while demonstrating CareLib home-based care digital solutions in action;
  • by partnering with the Nancy Regional and University Hospital in implementing a remote monitoring solution for chronic kidney disease patients through its eNephro solution, the Group demonstrates the efficacy of its telemedicine and AI solution when applied to a chronic illness. This system was moreover qualified for the French ETAPES programme (experimental telemedicine solutions for improving health care pathways) spearheaded by the French Directorate-General for Healthcare Services (Direction Générale de l'Offre de Soins or DGOS). This entity ensures the coverage of financial costs and reimbursement by the French health insurance system for monitoring patients in certain dialysis units (UAD - autonomous dialysis units), (UDM - medical supervised dialysis). This advance thus highlights the originality and innovation of this technology and supports Pharmagest Group's ambitions to develop and test new telemedicine and remote monitoring solutions;
  • by combining its software expertise with that of Cegedim, these major two providers of technological innovations for healthcare will propose a reliable and secure system for exchanging information providing interoperability for all healthcare professionals in both the non-hospital and hospital segments, and in this way contribute to greater efficiencies across healthcare pathways in France and improve patient care.

Outlook

With solid growth to date that will contribute positively to FY 2018 earnings, Pharmagest Group's management is confident in meeting its targets at year-end. 

In Europe, Pharmagest Group has ramped up communications initiatives and the presentation of its innovative solutions and will continue its policy of developing strategic technological partnerships.

In international markets, the recent expansion of the Group's offerings is opening up new opportunities and growth prospects for its businesses outside of Europe. The Group confirms its upcoming participation in leading international trade fairs (MEDICA in Düsseldorf, 12-15 Nov. 2018 and CES Las Vegas, 8-11 Jan. 2019). It also intends to build on the recent achievement of Box Noviacare(TM) as the Product of the Year Award and Gold Award Winner in the Innovation and Technology category at the Hong Kong Electronics Fair to raise the visibility of its offering and illustrate the relevance of its solutions. This recognition further bolsters its promising growth prospects, particularly in Asia, for all its innovative technologies.

Financial calendar:

  • Publication of 2018 annual revenue: 14 February 2019

About PHARMAGEST Group:

Pharmagest Group is the French pharmacy information technology leader, with a market share of more than 42% and more than 1,000 employees. The Group's strategy is based on a core business of improving healthcare through information technology innovation and developing two priority areas: 1/ Services and technologies for healthcare professionals, with a focus on assisting pharmacies in the area of patient medication compliance; and 2/ technologies for improving the efficacy of healthcare systems.
This strategy is executed through specialised business lines developed by Pharmagest Group: pharmacy IT solutions, e-Health solutions, solutions for healthcare professionals, solutions for pharmaceutical laboratories, connected health devices and apps, and a sales financing marketplace...
These businesses are divided into four divisions: Pharmacy - Europe Solutions, Health and Social Care Facilities Solutions, e-Health Solutions and FinTech.

Listed on Euronext Paris(TM) - Compartment B
Indices: CAC® SMALL and CAC® All-Tradable par inclusion
Eligible for the Long-Only Deferred Settlement Service (SRD)
ISIN: FR 0012882389 - Reuters: PHA.PA  - Bloomberg: - PMGI FP

For all the latest news go to www.pharmagest.com

CONTACTS

Analyst and Investor Relations :
Chief Administrative and Financial Officer : Jean-Yves SAMSON
Tel. +33 (0)3 83 15 90 67 - jean-yves.samson@lacooperativewelcoop.com

Media Relations:
FIN'EXTENSO - Isabelle APRILE
Tel. +33 (0)1 39 97 61 22 - i.aprile@finextenso.fr

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