Healthy Results for Newly Public IMS

Pharma research and data giant IMS Health has announced results for the quarter and year ended December 31st 2014, including revenue up 6.2% to $678m in Q4 and 5.9% to $2,641m for the full year on a constant currency basis; and adjusted EBITDA up 8.5% and 9.5% respectively.

IMS said the Q4 growth was driven by 13.6% constant currencies rise in technology services revenue (8.8% reported); while information offerings revenue rose only 0.8% at constant currencies, and fell 5.5% on a reported basis. Revenue grew across all regions at constant currency. Adjusted EBITDA for the quarter was $214m, improved partly due to the impact of continued cost-reduction initiatives.

Full-year adjusted EBITDA was $878m, and net loss was $189m - compared with net income of $82m in 2013. The company says the latter decline was due to one-time IPO-related charges and that adjusted Net Income was up 24% / 18% reported, to $454m.

Chairman and CEO Ari Bousbib (pictured) said of the results: 'We closed out the year with another quarter of strong financial performance. Our technology services offerings continue to gain traction with customers, again growing double digits on a constant currency basis. We are very pleased with our performance during our first year as a public company and are looking forward to another excellent year in 2015, including the successful completion of the Cegedim asset acquisition, which we now expect to close early in the second quarter.'

The firm is forecasting full-year 2015 constant currency revenue growth in its core business of 5 to 6%, and adjusted EBITDA growth of 7.5 to 8.5%. Factoring in the recently announced $520m acquisition of Cegedim's CRM and Strategic Data businesses, due to close in April, the forecast is for revenue growth of 19 to 20% and adjusted EBITDA growth of 13 to 14%.

The company has more than 10,000 employees and 5,000 healthcare clients across 100 countries, and is online at www.imshealth.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

• IMS Health Inc
• All news