Edison Investment Research - EMIS Group (EMIS) EMIS Group - Commercialising recent investment

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Edison Investment Research

Richard Williamson

EMIS Group - Commercialising recent investment

EMIS reported H121 results ahead of board expectations and is on track to meet the company’s FY21 expectations. After a period of investment to develop the EMIS-X platform, and at least a year of diverting resource to support customers’ COVID-19 efforts, EMIS is now in a position to execute its growth strategy. Our revenue and adjusted operating profit forecasts are unchanged, with revenue growth accelerating to the lower end of the targeted medium-term 5–9% range from FY22.

14/09/2021 1 EN

Underlying

EMIS Group

EMIS Group is engaged in connected healthcare software and services. Co. provides healthcare software, information technology and related services in the U.K. Co.'s brands include: EMIS Health, which provides clinical software; EMIS Care, which deliver diabetic retinopathy eye screening; Patient.info, an independent online health platform; and Egton, which provides non-clinical products and services as well as software to the social care sector. Co. has three operating segments, all of which involved with the supply and support of connected healthcare software and services: Primary & Community Care; Community Pharmacy; and Secondary & Specialist Care.

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GB00B61D1Y04 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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EMIS Group - H123 on track; 21.3p interim dividend declared

EMIS reported H123 revenue and adjusted operating profit in line with board expectations. Revenue grew 2% year-on-year and adjusted operating profit was 7% higher, with an adjusted operating margin of 26.9% (+120bp y-o-y). The company closed H123 with net cash of £48.5m. Assuming the takeover of EMIS is not effective prior to 7 October, on 23 October the company will pay an interim dividend of 21.3p to shareholders on the register on 6 October.

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EMIS Group - Commercialising recent investment

EMIS Group - H123 on track; 21.3p interim dividend declared

EMIS Group - CMA provisionally clears takeover of EMIS

EMIS Group - FY22 results in line

Dentsu Group - FY24 prospects weighted to H2

Record - AUME momentum and a sharper focus

Actinogen Medical - Funding in place through key catalysts

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