EarningsQ2 2026 Earnings Report
DE:C7E Q2 2026 EPS Results
Actual EPS€0.40
Consensus EPS―
Beat/Miss―
One Year Ago EPS€0.10
DE:C7E Q2 2026 Revenue Results
Actual Revenue€324.84M
Expected Revenue€165.00M
Beat/MissBeat by +€159.84M
YoY Revenue Growth+0.73%
Earnings Announcement Details
QuarterQ2 2026
Date09/24/2026
TimeAfter Close
Conference CallThursday, September 24, 2026
DE:C7E Upcoming Earnings
Cegedim's next earnings date is estimated for March 25, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive. The group delivered higher adjusted operating income, adjusted EBITDA, operating income, net income and operating cash flow, while reducing net debt and maintaining its full-year outlook. These improvements were partly offset by modest overall revenue growth, declines in Healthcare Professional and Cloud & Support revenue, lower Data & Marketing profitability, continued losses in certain businesses, higher tax payments and substantial investment-related cash outflows.Company Guidance
Improved H1 Revenue
H1 revenue reached EUR 324.8 million, increasing by EUR 2.3 million, or 0.7% reported and 0.8% like-for-like. Q2 revenue was EUR 4 million higher, supported by growth in the Business Services business unit, the French e-invoicing reform and continued momentum from international subsidiaries.
Adjusted Operating Profitability Increased
Adjusted operating income rose by EUR 1.2 million, or 6.9%, to EUR 19.7 million. The adjusted operating income margin improved to 6.1% from 5.7% in H1 2025, mainly due to cost control on external expenses and payroll costs.
Strong Operating Income Growth
Operating income increased to EUR 17.3 million from EUR 9.5 million, a EUR 7.8 million improvement or almost 83%. The increase was supported by cost control and a EUR 6.6 million improvement in specific non-recurring items affecting operating income.
Net Income Group Share Improved
Net income group share increased by EUR 4.2 million to EUR 5.4 million in H1 2026, compared with EUR 1.2 million in H1 2025.
Adjusted EBITDA Increased
Adjusted EBITDA grew by 1.3% to EUR 62 million. The adjusted EBITDA margin was 19.1%, compared with 19.0% last year, helped by control of external expenses and payroll costs.
Operating Cash Flow Improved
Operating free cash flow increased by EUR 2.3 million to EUR 58.9 million, compared with EUR 56.6 million last year.
Net Debt Reduction
Net debt decreased by EUR 31.4 million, or 17%, to approximately EUR 150 million, mainly due to strong cash generation in H2 2025.
Business Services Growth
The Business Services business unit grew by about 4% in H1 across all three segments. HR software benefited from the startup of contracts won in 2025, e-business benefited from accelerating e-invoicing-related project activity, and BPO grew 3.5% after winning new clients.
Business Services Profitability Expansion
Adjusted operating income in Business Services increased by EUR 2.7 million to EUR 14.9 million, with an adjusted EBIT margin of 15.6%. The improvement was mainly attributed to payroll cost control, including lower costs in BPO.
Health and Provident Insurance Profitability Growth
Adjusted operating income in the Health and Provident Insurance business unit increased by EUR 1.5 million to EUR 7.1 million. The adjusted EBIT margin rose to 8.5% from 6.7%, supported by cost control, fewer external contractors and lower total payroll.
Third-Party Payer and International Doctor Business Momentum
Third-party payer continued to experience strong growth, supported by fraud detection and long-term illness detection solutions. The Doctor outside France segment had dynamic revenue, particularly in Spain through the Balearic Island contract and in Belgium through a new product gaining traction.
AI Strategy and Product Integration
AI remains at the core of the strategy. Most developers are equipped with AI tools, and AI is being used to improve internal productivity in case handling, payroll, insurance BPO and customer support. AI features are also being integrated into offerings including the Maiia suite, Claude Bernard, HR solutions and third-party payer fraud detection.
Continued Product and Infrastructure Investment
The company continued investing in R&D, AI-enabled products and infrastructure. It is developing new Maiia suite products, AI assistants, Voca, Claude Bernard IA and a European data warehouse, while building a new data center and purchasing servers and other equipment.
Médoucine Integration and C-MEDIA España Launch
Médoucine was consolidated into the group from May 1st, and C-MEDIA España was launched during H1. The Spain marketing operation generated revenue during the first half, while the company also hired and internalized temporary workers in Spain for its doctor software business.
Covenant Compliance and Debt Repayment
The company stated that it fully respected its financing covenants and had already repaid EUR 9 million on Tranche A of its financing platform.
Maintained Full-Year Outlook
The company maintained its outlook for like-for-like growth above 2% and an increase in recurring operating income and operating income.
DE:C7E Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed