CompuGroup Medical Lowers FY24 Revenue Guidance

(RTTNews) - CompuGroup Medical SE & Co. KGaA has revised its full-year 2024 guidance as it expects lower revenues.

According to the company, the revenues were affected by significantly lower non-recurring revenues, particularly in the AIS segment and parts of the HIS segment.

In the AIS segment, there is a slowdown in additional module sales and professional services in connection with larger projects. In addition, the second wave of the government initiative Segur in France is now expected to start in 2025 instead of 2024. In the HIS segment, the slower realization of projects in connection with the Hospital Future Act leads to a lower organic revenue growth rate.

Group revenues for the second quarter amounted to 277 million euros, which is down 9% reported and organic year-on-year, mainly due to one-time effects in the AIS segment in the prior year quarter.

Based on the preliminary consolidation of second-quarter revenues and the updated financial year forecast, the company has revised its full-year guidance for revenue development in 2024.

The company now expects organic revenue development in a range between -2% and 0%, compared to the previous estimate of 4% to 6%.