Earnings Release • Aug 5, 2020
Earnings Release
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PRESS RELEASE
| €m - IFRS 15 |
2020 | 2019 | Change |
|---|---|---|---|
| Q1 | 39.00 | 38.15 | +2.23% |
| Q2 | 38.93 | 38.73 | +0.52% |
| H1 | 77.93 | 76.88 | +1.37% |
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Pharmagest Group reported consolidated revenue of €77.93m for the six-month period ending 30 June 2020, up 1.37% from one year earlier.
The business continuity plan implemented in mid-March made it possible to ensure a maximum operational mobilization for servicing customers in the medical community.
The Group activated its business recovery plan on 11 May. On this basis, all commercial teams were rapidly deployed in the field in order to support customers and patients, and in support of installers, technicians and instructors. A plan for reopening was implemented for remaining staff, gradually reducing the telework measures and providing for a rapid return to a collective and collaborative working organization.
At 30 June 2020, the total impact of the pandemic on the Group was evaluated at €6m, mainly at the level of the Solutions for Pharmacy Division - Europe and resulting from the delayed installations in pharmacies and reduced commercial activity during the lockdown period. Excluding COVID-19, revenue in H1 2020 would have been up 9.20% in relation to the same period in 2019.
This impact was partially offset by the positive contribution of acquisitions to total Group sales of 4.44%.
Like-for-like (excluding the disposal of INTECUM and the integration of ICT Group, SVEMU, I-MEDS, MALTA BELGIUM and PANDALAB), Pharmagest Group's revenue contracted 2.48%.
This Division accounts for 72.77% of total Pharmagest Group revenue.
This Division contributed 16.03% to total Group revenue, reinforcing the position of its activities as Group growth drivers.
This Division accounts for 10.32% of total Pharmagest Group revenue.
This Division accounts for 0.88% of total Pharmagest Group revenue.
Even though Pharmagest Group was impacted by COVID-19 during the period, it clearly demonstrated its ability to absorb the shock of the crisis at both the operational and financial levels. The measures adopted during the reopening phase enabled the teams to maintain their focus on the business recovery. On that basis, the Group noted the first positive effects on its business in early June.
Today, all Divisions have registered significant recoveries even though varying according to the type of customer:
Furthermore, Pharmagest Group did not wish to make use of the different forms of aid made available by the government ((e.g. the deferral of tax or social charges) or the banks (e.g. the deferral of loan instalment repayments).
Pharmagest Group focused efforts on optimizing the taking of vacation days and other forms of leave to remain as operational as possible for the reopening phase.
The current health crisis has demonstrated the need to reinforce human, equipment and IT healthcare system resources.
The recent Ségur healthcare system reforms adopted in France expanded the major priorities of the strategy defined in the "Ma santé 2022" law, highlighting the large-scale investment plan for public and private institutions and assisted living facilities for dependent seniors (EHPAD).
Pharmagest Group has developed the most effective solutions in the market to support all activities of the healthcare universe: pharmacies, ALFs, home-based nursing services, hospitalat-home programmes and also outpatient office-based private practitioners. With its Digital Healthcare Gateway in the process of being deployed within the Marseille Public University Hospital network, Pharmagest Group also proposes a solution already operational, capable of structuring the healthcare offering and coordinating its delivery across the office-based private practice and hospital pathways.
On this basis, Pharmagest Group remains confident in the market opportunities.
And with a solid financial position and significant cash resources, Pharmagest Group maintains its targets for the medium-term, particularly with respect to earnings for 2020.
Pharmagest Group is the French pharmacy information technology leader, with a market share of more than 44% as a provider of software solutions for pharmacies, 28% for ALFs, 45% for HAD programmes, 20% for health care centres and more than 1,100 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; and 2/ technologies for improving the efficacy of healthcare systems.
This strategy is executed through specialised business lines developed by Pharmagest Group: : pharmacy IT, e-Health solutions, solutions for health and social care facilities (for ALFs, Home-Based Nursing Services, Hospital-at-Home programmes, senior care service centres, multi-professional and paramedical healthcare providers and hospitals), apps and connected health devices,...
These businesses are grouped within four divisions: Pharmacy - Europe Solutions; Health and Social Care Facilities Solutions; e-Health Solutions and Fintech.
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
PHARMAGEST shares are eligible for French tax-advantaged PEA-PME equity savings accounts
The Group is included in the Gaïa-Index 2019 comprised of socially responsible mid-caps and was recently included in the "European Rising Tech" label recognising the top-performing SMEs listed on the Euronext markets of Amsterdam, Brussels, Lisbon and Paris.
Analyst and Investor Relations Chief Administrative and Financial Officer: Jean-Yves SAMSON Tel. +33 (0)3 83 15 90 67 – [email protected]
FIN'EXTENSO – Isabelle APRILE Tel. +33 (0)1 39 97 61 22 - [email protected]
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