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Cegedim
Cegedim (CGM) investor relations material
Cegedim Q4 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 TU earnings summary29 Jan, 2026
Executive summary
Full year 2025 revenue reached €649.2 million, up 1.1% like-for-like but down 0.8% reported, mainly due to the deconsolidation of In Practice Systems (INPS) in December 2024 and negative currency effects.
Q4 2025 revenue was €173.0 million, down 1.5% like-for-like and 3.2% reported year-over-year.
Growth was driven by HR software, cloud, e-business, health insurance, and marketing, while pharmacy activities in France and international data activities weighed on results.
Adjusted operating income is targeted to grow at least 15% for full year 2025.
Financial highlights
Like-for-like annual revenue growth was 1.1%, with reported revenue down 0.8% due to scope and currency effects.
Q1 2025 showed the strongest growth: +3.5% reported, +4.5% like-for-like.
Health and provident insurance revenue grew 3% for the full year.
Cegedim Business Services grew nearly 7% for the year, led by HR software and e-invoicing.
Cloud and support grew 2.6% for the year despite the end of an outsourcing contract.
Outlook and guidance
Adjusted operating income is expected to improve by at least 15% for FY 2025.
For 2026, revenue growth is expected in the 2%–4% range, with continued positive trends in e-invoicing and Cegedim Santé.
EBIT is expected to improve in 2026, driven by pharmacy staff reductions and Cegedim Santé growth.
Management does not expect the lower-than-expected revenue growth to jeopardize the operating income outlook.
EBIT impact of pharmacy reorganization in France?
Why BPO insurance revenue decrease in 2026?
Cegedim Santé 2026 profit expectation?
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Next Cegedim earnings date
H2 202526 Mar, 2026
Cegedim
Next Cegedim earnings date
H2 202526 Mar, 2026
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Frequently asked questions
Cegedim SA specializes in providing services, technological tools, specialized software, data flow management services, and databases mainly aimed at healthcare professionals, healthcare industries, life science companies, and health insurance companies. The company is known for its solutions that facilitate business and medical operations, including health and preventive health management software, payroll and HR management, e-business, hosting, cloud, and outsourcing services. Cegedim's software is used for managing both individual and collective health as well as preventive health contracts. Additionally, it offers solutions for managing procedures securely and operating multi-site installations. It caters to a wide range of healthcare professionals by providing software for doctors, pharmacists, paramedical professionals, and medication databases. It also provides customized statistics and financial leasing for healthcare professionals. The company is headquartered in Boulogne-Billancourt, Ile-de-France, France, and its shares are listed on the Euronext Paris.
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