2017 Annual Results. Information meeting 3 April April ANNUAL RESULTS

Transcription

1 2017 Annual Results Information meeting 3 April

2 Table of contents 1. Introduction Thierry Chapusot financial results Jean-Yves Samson 3. Business developments & Outlook Dominique Pautrat 4. Conclusion Thierry Chapusot 2

3 In France and Europe Comparable trends throughout Europe Population aging : growth in healthcare demand, without an increase in the number of doctors. Ensuring continuity in care across the patient pathway: managing the patient care process is a major healthcare priority. to ensure this coordination and traceability the information flow must be optimised between the different healthcare stakeholders, for both the non-hospital and hospital segments New technologies are providing highly efficient solutions to address these issues: with the growth in patient-related data, market players must offer innovative solutions for organising and processing collected data. And while technology is indispensable to effectively integrate the human dimension, the pharmacist in Europe is becoming THE coordinator of health. Their proximity to patients means they are more accessible and more often consulted. For that reason, they are destined to assume an increasingly 3 active role in the patient care management process.

4 Our global vision of healthcare Pharmagest Group has been anticipating these trends for more than 5 years Offering a solution for the shortage of doctors: actively engaged in research and development for telemedicine solutions. The priority of continuity in care for the patient pathway: AXIGATE's acquisition contributes to continuity of care and improved information flows across both non-hospital and hospital segments. Pharmagest is the only player offering a solution for structuring healthcare coordination across non-hospital and hospital segments to be rolled out in Organisational innovation: the Group has been working for several years on building its patient-centred technology infrastructure and services, a dedicated global ecosystem where the pharmacist can legitimately be considered to fulfil a role as primary care provider and coordinator. Pharmagest is the first company to propose a global "patientcentred" ecosystem through a healthcare platform to date unique in Europe. 4

5 Our global vision of healthcare A broad strategic vision for Europe All of Pharmagest Group's acquisitions are focused on this ambition to become a key contributor to the transformation of the healthcare in France and Europe: SABCO SAILENDRA CAREMEDS / MULTIMEDS AXIGATE MACROSOFT 5

6 2017 Annual Results Financial results

7 2017 Annual Results 2017 financial highlights Revenue ( m) Net profit ( m) % + 13 % 113,5 128,4 146, ,5 24, Net profit attributable to equity holders of the Parent ( m) % Basic earnings per share (in ) % 1,55 18,8 20,6 23,1 1,25 1,

8 2017 Annual Results 2017 revenue ( m) Change Q % Q % Q % Q % Annual Revenue % 8

9 2017 Annual Results Financial results Profit and loss statement ( m) Change REVENUE % OPERATING PROFIT % NET PROFIT % NET PROFIT ATTRIBUTABLE TO THE PARENT BASIC EARNINGS PER SHARE (en ) % % 9

10 2017 Annual Results 2017 financial highlights by Division In thousands Revenue Operating profit Operating margin (%) Pharmacy Europe 101,953 23, % Health and Social Care Facilities 14,863 6, % Other e-health & Fintech 29,990 3, % Total 146,806 34, % 10

11 2017 Annual Results Financial highlights by Division (IFRS 15) In thousands Revenue Operating profit Operating margin (%) in IFRS 15 Pharmacy Europe 101,731 23, % Health and Social Care Facilities Other e-health & Fintech 14,863 6, % 12,986 3, % Total 129,580 34, % 11

12 2017 Annual Results Financial results Balance sheet ( m) Dec Dec Dec Dec NON-CURRENT ASSETS SHAREHOLDERS' EQUITY R&D Attributable to the Parent Goodwill Non-current financial assets NON-CURRENT LIABILITIES Other non-current assets Long-term debt Other non-current liabilities CURRENT ASSETS Trade receivables CURRENT LIABILITIES Other current assets Short-term debt Cash & cash equivalents Trade payables Available-for-sale securities* Other current liabilities TOTAL TOTAL * and other financial assets 12

13 2017 Annual Results Cash flow highlights ( m) Net cash at 31/12/2016 (**) Cash flow Change in WCR Operating investments (*) Financial investments Dividends Borrowings Other financing activities Net cash at 31/12/2017 (**) (*) Of which 5,864,000 for R&D (**) Of which available-for-sale securities ( 28.13m) + non-current 3 April 2018 financial assets ( ANNUAL m) = 46.59m RESULTS 13

14 2017 Annual Results Capital expenditures for R&D In thousands Pharmacy Europe 2,868 1,993 Health and Social Care Facilities e-health Solutions 1,662 1,008 & Fintech Total 5,864 3,828 14

15 2017 Annual Results Ratios Cash Flow 21.1m 23.96m 28.57m GEARING (*) % % % ROE 21% 20.2% 20.4% (*) net debt including available-for-sale securities and other financial assets 15

16 2017 Annual Results Share price trends over the year => Source - BOURSORAMA % at 03/04/2017: share price of at 26/03/2018 : share price of

17 Solutions for Pharmacy Division Europe Pharmacy France 2017 revenue: +3.9% to m Representing 69.5% of total Group revenue Good growth for equipment sales and market share gains. Growth of recurrent revenue. Success of our comprehensive pharmacy management package (LMO). The "Patient-Centred" strategy has started to deliver results operating profit: m % / 2016 The slower rise in profit for this Division reflects the reorganisation and restructuring costs linked to the Group's international development. The profit margin registered further gains in line with growth in sales. An excellent business performance in Belgium, with two major contracts with the MULTIPHARMA and COOP networks. 17

18 Health and Social Care Facilities Solutions Division Retirement Homes 2017 revenue: +44.5% to 14.86m Representing 10.1% of total Group revenue The acquisition of AXIGATE: a French Hospital Information Systems leader. On this basis, Pharmagest Group is able to propose an original and exclusive solution covering both the health and social care facilities and non-hospital care pathway operating profit: 6.578m + 64% / 2016 Operating Profit boosted by acquisitions, AXIGATE (07/2017) and DICSIT (03/2016). These entities market exclusively high added-value services. On a pro forma basis, Operating Profit was up 14.64%. 18

19 AXIGATE FOCUS - With Vincent LECLERC - AXIGATE CHAIR-CEO Retirement Homes AXIGATE facilitates the shift away from a "hospital-centric" approach by integrating the hospital environment within a "patientcentred" paradigm. Providing complete functional coverage: AXIGATE provides a comprehensive solution for managing hospital-based patient care. The only "Web Responsive" solution guaranteeing complete mobility for the application on all devices (tablets, smartphones). A multi-establishment solution capable of managing through a single database the patient pathway across the different hospital establishments at the territorial, and as applicable, the national level. With Pharmagest Group's backing, AXIGATE benefits from major financial support. It will be able to carry out the improvements of its offering, and notably interconnecting all participants in the healthcare chain and developing a dedicated portal for patient allowing them to access their medical file in both non-hospital and hospital environments. Strong international potential: the global management capabilities of this system (soon available in English), particularly for EMR will interest industrialised countries that are universally concerned by the healthcare 19 economy challenges.

20 e-health Division Solutions & Fintech e-health Solutions Fintech Global performance 2017 revenue: +16.3% to 11.58m Representing 7.9% of total Group revenue 2017 revenue: +83.8% to 18.41m Representing 12.5% of total Group revenue 2017 operating profit: 3.942m + 8.1% / 2016 Positive impacts from newly added companies: NOVIATEK, innovative systems for home-based healthcare SAILENDRA, artificial intelligence CAREMEDS/MULTIMEDS, innovative solutions for medication compliance An increase in the number of lease financing providers connected to the NANCEO financing platform. A constantly growing service offering combined with even better financial terms. These Divisions are in the launch phase for their offerings, with at this stage a less favourable Product Mix (Fintech effect). Innovation expenditures reducing profitably in the short term. 20

21 Outlook Outlook H

22 Pharmacy Europe Solutions Division 22

23 Outlook - Pharmacy Europe Solutions Division Bolstering business momentum. Creation of a new sales force: Business Development Manager, Customer Portfolio Manager, Consultants and Digital Equipment Manager => new recruitments in H A new breakdown of solutions and services. Objectives: making the offering easier to understand and renewing promotional initiatives. achieving competitive differentiation. developing Pharmacy Europe's sales. 23

24 Outlook - Pharmacy Europe Solutions Division FOCUS: Pharmagest is continuing its European development and has entered Italy => acquisition of a 60% majority stake in the capital of MACROSOFT Holding. The Italian leader in IT equipment and services for pharmacy wholesalersdistributors. MACROSOFT recently rolled out an innovative software solution for Italian pharmacies. Creation of Pharmagest Italia, the new subsidiary of the Pharmacy Division - Europe Solutions. Objective: equip 20% of the Italian pharmacy market within five years. An acquisition in line with the Group's strategy for building a dedicated global ecosystem at the European level. 24

25 Outlook - Pharmacy Europe Solutions Division FOCUS: the creation of Pharmagest Italia Synergy with the Pharmagest Group in market with strong growth potential Contributing its expertise and experience in marketing information management solutions to pharmacies. Supporting Pharmagest Italia in creating a network of agencies capable of adapting to the scalability of its economic model. Sharing this vision of a "patient-centred" solution to address an emerging need of Italian pharmacies. 25

26 Health and Social Care Facilities Solutions Division 26

27 Outlook - Health and Social Care Facilities Solutions Division Deploying AXIGATE's significant expertise for solutions for elderly residential care facilities This patient-centred solution helps networks consolidate their information more effectively. 100% cloud-based and responsive, this solution contributes to a smoother patient management process between establishments. => A selling point for larger retirement home networks, and, even more so for public facilities attached to hospitals. Developing in the connected objects sector Developing a special monitoring application for elderly residential care facilities => this unique offering creates a competitive edge that will ensure substantial business for In line with this strategy, confirmation of the development of connected objects for Hospital-at-Home programmes. 27

28 Outlook - Health and Social Care Facilities Solutions Division FOCUS: opportunities with regional hospital groups The Government requires all regional Hospital groups to adopt common reporting formats => a good opportunity for AXIGATE. SOIN ATCD ORDO ORDO PATHO ORDO 28

29 e-health Solutions Division 29

30 Outlook - e-health Solutions Division DIGITAL COMMUNICATIONS FOR PHARMACIES TELEMEDECINE Remote monitoring PATIENT COMPLIANCE FRAIL INDIVIDUALS Supporting the development of medication dispensing applications in Europe: accelerating synergies with CAREMEDS/MULTIMEDS. optimising the deployment of medication dispensing application solutions by creating a dedicated sales force (8 people). supporting the technological developments by integrating the robot of the Japanese company YUYAMA. Within the framework of the Fragile Individuals programme (36 more months at home): finalise the development of new NOVIACARE and CARELIB technological solutions to market, these offerings starting in H support initiatives addressing social housing organisations and senior housing operators for equipping living units. 30

31 Fintech Division 31

32 Outlook - Fintech Division Reinforcing the business momentum. Accelerating business development by creating a channel of independents using the Leasa by Nanceo platform. Continuation of studying European development projects. 32

33 Outlook FOCUS ON OUR INTERNATIONAL DEVELOPMENT 33

34 Our international development Healthcare challenges in Europe: promoting good health for patients and people. supporting dynamic, efficient and profitable health systems. Our "patient centred" approach for developing a coordinated ecosystem is making inroads in all European countries. the technology and innovation of our solutions ensures that all participants in the healthcare chain are interconnected and can share patient information: greater efficiency for improving patient well-being and health. continuity in care spanning the non-hospital and hospital pathways facilitates the patient care process while contributing to a global economic management of the healthcare system. the pharmacists' role in coordinating shared information guarantees greater efficiency in the healthcare system. 34

35 2017 Annual Results Conclusion 35

36 Conclusion The development of our "patient-centred" platform Possessing structured patient data, to safely and efficiently ensure an improved patient management process. Giving and sharing the right information about the patient to all healthcare professionals in a manner that is fully integrated with their work practices. Today, this platform exists and functions. nda-r16/agenda-c5-r16/le-projet-e-nephro-depharmagest,-au-jt-de-france-2-x1-y303.html 36

37 Next key dates Financial publications: Release of the 2017 Registration Document: end of April May 2018: Publication of Q1 revenue 9 August 2018: Publication of H1 revenue Investor events: 28 June 2018: Annual General Meeting, Head Office 37

38 Contacts Chief Executive Officer Dominique PAUTRAT Shareholder and Investor Relations Jean-Yves SAMSON Tel.: +33 (0) jean-yves.samson@lacooperativewelcoop.com Press Relations FIN EXTENSO Isabelle APRILE Tel.: +33 (0) i.aprile@finextenso.fr 38

39 39