MEDICLIN AG — Earnings Release 2001

Nov 29, 2001

News Details

Corporate | 29 November 2001 09:07

Mediclin AG english

MediClin AG: Significant increase in operating results in the third quarter Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– – A marked increase in EBIT compared to the previous quarter – Quarterly sales growth of 6 % Frankfurt, 29 November 2001 : MediClin AG succeeded in increasing sales by 2.7 % to Euro 230.9 million during the first nine months of the current year in comparison with the same period in the previous year. At Euro 80.9 million, third quarter sales were up 6.2 % on the previous quarter. The acquisitions, the Bad Bellingen rheumatology and rehabilitation clinic and the radiological nuclear-medical centre in Bonn, which were consolidated on 1 July for the first time contributed some Euro 3.3 million to quarterly sales. Group income before interest and taxes (EBIT) amounted to Euro 7.7 million in the third quarter exceeding the previous quarter by Euro 2.9 million, a rise of more than 60 %. Consolidated net income for the year was Euro 9.6 million (previous year: Euro 7.7 million) as at 30 September. In effect, earnings per share improved by just under 24 % to Euro 0.30 in comparison to the corresponding period in the previous year. The cost of materials ratio which had been at 20.2 % after the first six months of the year declined to 18.9 % in the third quarter. At 49.7 %, the personnel costs to sales ratio was likewise markedly below previous quarters thus leading to a distinct slowing down of the increase compared to the corresponding previous year”s period. While in June the increase was still 5.2 %, personnel costs are only up by 4.4 % on the previous year”s value in a nine-month comparison. The course of business to date confirms MediClin”s expectations for the 2001 financial year. At present, the MediClin board is conducting intensive negotiations with other strategically and conceptionally interesting clinics. Some of these talks have already reached a stage where completion of negotiations may shortly be expected. About MediClin AG MediClin AG is a nation-wide clinic operator with head office in Frankfurt. The administrative headquarters of 42 clinics and facilities are domiciled in Offenburg. The MediClin facilities are distributed ovaer 33 locations in 11 federal states and have a total capacity of over 8,700 beds. They include general hospitals, special treatment facilities, specialised hospitals, clinics for medical rehabilitation/subsequent nursing treatment and nursing facilities. Two facilities are run in the form of management agreements; MediClin employs more than 9,000 people of whom over 700 are physicians in various specialist fields. end of message, (c)DGAP 29.11.2001