EQUASENS: 2022 Net Profit: +18.35% to €48.70m

By Globe Newswire Published on March 24, 2023, 22:00 IST

Villers-lès-Nancy, 24 March 2023 – 6:00 p.m. (CET)

PRESS RELEASE

2022 Net Profit: +18.35% to €48.70m

Revenue: +10.88% to €214.07m.
- Strong growth driven by the French Digital Healthcare investment programme (Ségur du Numérique en Santé) and a continuing focus on its deployment.
- A significant increase in the contribution of “non-pharmacy” growth drivers to Equasens Group’s 2022 revenue.
A high level of profitability and a strong balance sheet and strong cash position giving the Group considerable flexibility in terms of debt capacity.
- Current Operating Income: +12.57% to €56.79m.
- Net Profit: +18.35% to €48.70m.
- Basic Earnings per Share: +18.52% to €3.09.
- Cash Flow: +17.07% to €62.05m.
Dividend proposal for FY 2022: € 1.15 per share (+9.52%).
2023 Outlook: the Group’s financial strength (no net debt and a positive net cash position of €56.26m) ensures it the resources to pursue its goals for expansion in Europe and develop in other areas of the healthcare sector.

In €m	2021	2022	Change 2022/2021
Revenue	193.07	214.07	10.88%
Current Operating Income	50.45	56.79	12.57%
Net Profit	41.15*	48.70**	*18.35*%
Net Profit attributable to the Group	39.12	46.38	18.56%
Basic earnings per share (in €)	2.60	3.09	18.52%

* Of which IP BOX 2021: €2.94m
** Of which net IP BOX 2022: €7.74m

Under the chairmanship of Thierry CHAPUSOT, the Board of Directors met on 24 March 2023, in the presence of the Statutory Auditors, to examine and approve the accounts for fiscal 2022. The audit procedures for the consolidated accounts have been performed. The auditors’ report will be issued after the management report has been reviewed and the procedures for filing the annual financial report have been completed.

ANNUAL OPERATING HIGHLIGHTS
- Pharmagest Division
  - id. was the first Segur-certified pharmacy management suite.
  - ASCA is continuing its transformation from an expert in electronic labelling to a specialist in pharmacy equipment.
- Axigate Link Division
  - All of the Division’s business lines are growing in their respective markets, boosted notably by the Ségur certification of five of the Division’s software products (nursing homes, multidisciplinary group practices, hospital-at-home programmes, in-home nursing, hospital EMR).
  - Significant resources have been deployed for the roll-out in Q3 and Q4 2022 and to cover 100% of customers.
  - pandaLAB Pro achieved significant growth in revenue (+36% to €1.14m), in response to the dual ISO 27001 and HDS certification of the PANDALAB software developer.

Medical Solutions Division
- 2022 represented the first full-year of PROKOV Editions’ integration.
- 2022 also saw the development, certification by the ANS and deployment of the Ségur programme and the transfer of MédiStory 3 customers to MédiStory 4.
- Lastly, a recurring business model was introduced for all MédiStory 4 customers during the period.

e-Connect Division
- 2022 was impacted by supply chain tensions and disruptions and skyrocketing prices for components. To limit its effects, the Division decided to accelerate its strategy of increasing the diversification of its manufacturing subcontracting.
- The NOVIACare solution integrated the Boulanger Marketplace and the qualifying European partners validated the first orders of boxes for delivery in H1 2023.
Fintech Division
- 2022 was marked by the decision to diversify its range of business providers as well as by significant rate increases.

In Europe
- PHARMAGEST ITALIA continued to grow with nearly 150 new pharmacies now equipped and the roll-out of its compliance offer.
- MALTA BELGIUM is equipping the first Care Homes sites with TITANLINK.
- Buy-out of minority interests: PHARMAGEST ITALIA, CAREMEDS, I-MEDS and MULTIMEDS.

CONSOLIDATED FINANCIAL HIGHLIGHTS

Group Equasens reported annual revenue of €214.07m up 10.88% from 31 December 2021. Like-for-like (incl. PROKOV Editions in Q4), FY 2022 revenue rose 8.82% to €210.09m. The Group confirms the efficiency of its strategy of promoting interoperability between healthcare professionals and establishments, with the priorities of structuring the healthcare offer, improving coordination between healthcare professionals and exchanging patient data.

Current Operating Income for the Group totalled €56.79m, up 12.57% from 2021. By Division, Current Operating Income broke down as follows:

Pharmagest Division: €36.16m, i.e. 63.67% of the Group total. While the largest contribution, its impact was mitigated by the performance of the other Divisions and the increased share of hardware in the revenue mix.
Axigate Link Division (Health and Social Care Facilities): €11.70m, i.e. 20.60% of the Group total. This included a significant increase in revenue from the Ségur programme.
e-Connect Division: €6.21m, i.e. 10.93% of the Group total. Slower growth in response to pressure on the supply chain for components.
Medical Solutions: €3.08m, i.e. 5.42% of the Group total. Better-than-expected results with the deployment of MédiStory 4 and a new business model focused on recurring revenue.
Fintech: -€0.34m, i.e. -0.60% of the Group total. An activity adversely impacted by market turmoil and unfavourable financing conditions

Net Profit rose by 18.35% to €48.70m, including €7.74m from net IP BOX.

Basic earnings per share rose 18.52% to €3.09 (€2.60 in 2021).

With respect to its balance sheet, the Group continues to benefit from its strong investment capacity with a gross cash position of €119.20m at 31 December 2022. In addition, at 31/12/2022, the company held 142,428 own shares valued at €10.02m.