Q2 2019 Compugroup Medical SE Earnings Call Transcript
Good afternoon, ladies and gentlemen, and a warm welcome also from my side to our conference call about CompuGroup's results in the second quarter of 2019.
Let me kick it off by walking you through the key items of our second quarter performance before addressing the financial items in more detail, and thereafter, spending some more time with the developments within each of our business segments. At the end of the presentation, I will be available for questions.
Looking upon our second quarter highlights, we report EUR 186.6 million as revenue figure that is in line with our expectation and is reflective of the strong growth in recurring revenue. With 10% growth in recurring revenue versus second quarter of last year, we significantly strengthened our value base and managed to almost fully compensate the exceptional revenue from Q2 2018, which marked the peak of the telematics infrastructure installations. This 10% increase in recurring revenue is driven by new subscription revenue in the general
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