Bad Neustadt a. d. Saale, 9 August 2012
Patient numbers and revenues within the Group of RHÖN-KLINIKUM AG once again witnessed significant growth in the first half of 2012. In the first six months, 1.26 million patients were treated, 9.5% more than over the same period of the previous year. Revenues climbed by 7.1% to EUR 1.39 billion. In addition to the pleasing organic growth in revenues, the first-time consolidation of Dr. Horst Schmidt Kliniken (HSK) in Wiesbaden took place as at 1 May 2012.
For the reporting period, the result declined. In addition to the losses acquired from HSK, this is explained chiefly by the following developments:
Specifically, operating EBITDA worsened by 10.2% to EUR 145.2 million in the first six months of the year. Given higher amortisation on new hospital buildings, EBIT fell by 24.9% to EUR 76.8 million. Burdened by higher interest and a one-off tax effect from the previous period, net consolidated profit declined by 40.5% to EUR 50.1 million. After deducting minority interests in profit of EUR 1.2 million from net consolidated profit of the first six months, earnings per ordinary share (EpS) stood at EUR 0.35 (previous year: EUR 0.59).
“Although the first half of the year also reveals negative points, these are outweighed by the positive ones”, said Wolfgang Pföhler, chairman of the Board of Management of RHÖN-KLINIKUM AG. “The rising patient numbers are proof of the high quality level of our facilities and the outstanding performance of our more than 40,000 employees. We see our revenue figures, which were additionally positively impacted by the consolidation of HSK, as being on a good path. The earnings performance seen over the past six months is certainly not satisfactory, but this was also due to negative one-off effects.”
With regard to full-year 2012, Pföhler emphasised: “Our expectations for the second half are cautiously optimistic. Wage increases can be offset in part by the most recent decisions of the German legislator. It is true that the measures are not remotely sufficient, but they will bring about a positive effect. At UKGM initial steps to improve efficiency have already been taken by the management. These will also help improve the earnings situation in the medium term. As before, the consequences of the failed takeover offer at the end of June are not foreseeable. The possibility of further burdens arising here cannot be ruled out.”
RHÖN-KLINIKUM AG has adjusted its forecast for financial year 2012 as follows:
We will continue to show our core competences to lie in efficiency and quality, not least with the integration and restructuring of our latest acquisition, Dr. Horst Schmidt Kliniken”, Pföhler stated in conclusion.
RHÖN-KLINIKUM AG is one of the largest healthcare providers in Germany. Its corporate objective is high-quality medical care for everyone. Currently, our Group counts 54 hospitals at 43 sites as well as 39 medical care centres (MVZs) throughout Germany. We employ more than 43,000 persons. In financial year 2011, more than 2.2 million patients were treated in the Group’s facilities.