Cegedim : H1 2020 organic sales held up well
>H1 sales: rather satisfactory - Yesterday evening Cegedim reported rather satisfactory Q2 and H1 sales. While we expected an organic contraction of -2.0% in H1, the drop came to -2.5% LFL (-3.9% reported) due notably to changes to the consolidation scope at -1.4% owing to the disposal of Pulse in the US (doctors) and the acquisitions of NetEDI (E-Business) and Cosytec (HR). Forex did not have an impact on H1.By division:Health Insurance, HR & E-Services (68...Cegedim is a technology and services company. Co. supplies services, IT tools, specialized software, information flow and database management services to healthcare industries, pharmaceutical companies, healthcare professionals and insurance companies. Co.'s operations can be divided into three sectors: CRM and Strategic Data (optimizing marketing and sales strategies, namely through tools and databases for managing sales forces, returns on investment, market or prescriber studies); Healthcare Professionals (software publishing with availability of promotional information) and Insurance and Services (software publishing and management of healthcare reimbursement flows).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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