FX.co ★ CompuGroup Medical Q1 Adj. Earnings Rise, Revenues Down; Backs FY24 Outlook

CompuGroup Medical SE & Co. KGaA, a healthcare software and IT solutions provider, recently revealed higher first-quarter adjusted earnings per share at 0.47 euro. Additionally, the adjusted EBITDA increased by 1 percent, totaling 61 million euros.

However, there was a slight decline compared to the previous year, with a 2 percent decrease in Group revenues, which was affected by unique incidents in the Telematics Infrastructure. When disregarding last year's TI connector hardware exchange, the organic revenue growth witnessed a 3 percent increment.

The recurring revenues showed a positive trend with a 7 percent growth, amounting to 213 million euros in the first quarter of 2024. This accounted for 75 percent of the total revenue.

In terms of e-prescriptions in Germany, the figures significantly went up after their mandatory implementation in January 2024. The company reported that 113 million e-prescriptions were fulfilled in the first quarter.

CompuGroup Medical indicated its intentions of going back to providing only annual guidance, after retracting its mid-term aims for 2025, initially released in September 2021.

In February 2024, the company provided its financial projection for fiscal 2024, anticipating an organic revenue growth of between 4 and 6 percent, and an adjusted EBITDA ranging between 270 million euros to 310 million euros.