Cegedim (CGM) H1 2026 earnings summary

Executive summary

• H1 2026 revenue reached €324.8 million, up 0.7% year-over-year, with like-for-like/organic growth of 0.8%.

• Adjusted operating income rose 6.9% to €19.7 million, driven by cost control.

• Net income group share improved to €5.4 million from €1.2 million last year, reflecting higher profitability.

• Operating free cash flow increased to €58.9 million, up year-over-year, supporting net debt reduction.

• AI integration advanced across operations, enhancing productivity, R&D, and offerings.

Financial highlights

• Adjusted EBITDA grew 1.3% to €62 million, with a margin of 19.1%.

• Operating income surged 82.9% to €17.3 million, aided by lower non-recurring items.

• Adjusted EBIT margin improved to 6.1% from 5.7% in H1 2025.

• Net debt decreased by 17% to €150 million, mainly due to strong cash generation.

• Depreciation and amortization expenses decreased by 1.1% to €42.3 million.

Outlook and guidance

• Like-for-like revenue growth above 2% and further increases in recurring and operating income expected for the full year.

• Q3 revenue release scheduled for October 22nd.