Full Year 2025 Cegedim SA Earnings Call Transcript
(audio in progress)
Thanks a lot for attending this presentation about the 2025 earnings that we just released. Thank you for attending the presentation.
So as you know, we had published our full year sales on January. It was a negative growth of 0.8% reported, 1.1% like for like, and you remember the gap was the consolidation of in practice system by the end of 2024, that explained, this oops, sorry, this difference between both.
So the interesting thing today is the adjusted operating income, which resulted in a EUR49.4 million, a growth of 25%, up to EUR9.9 million. So it means that it's also an adjusted operating margin of 7.6% compared to 6% last year. We will get through more during the presentation, especially on the P&L, but the main reason for that is the good cost control, especially on the payroll costs during this year.
Maybe just a word to remind you what is the adjusted operating income, as we had mentioned for the first half results, there's a new in general accounting plan that started
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