MEDICLIN AG — Earnings Release 2002

Aug 29, 2002

News Details

Ad-hoc | 29 August 2002 08:34

Mediclin AG english

Increase in group sales in a six-month comparison – share repurchase program Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Frankfurt, 29 August 2002 MediClin AG increased group sales including increases in work in process by 22.9 % to 184.6 million Euro in the first six months of the year (previous year: 150.2 million Euro). A positive operating result of 1.9 million Euro was generated in the second quarter of 2002. The group operating result thus improved from minus 3.6 million Euro in the first quarter of 2002 to minus 1.7 million Euro in the first six months of the year (previous year: 8.7 million Euro). A higher occupancy rate in comparison to the first quarter and the measures taken to improve cost structures were responsible for this. The group result was minus 3.6 million Euro (previous year: 4.5 million Euro), earnings per share are minus 0.11 Euro. The cash flow from operating activities grew from 7.8 million Euro in the first quarter to 8.4 million Euro in the second quarter, and amounted to 16.2 million Euro after the first six months of the year. The course of the financial year to date is characterized by a restrained demand for medical services as a result of the overall economic situation. The board assumes that it will not be possible to achieve the goals initially planned for the 2002 financial year. However, MediClin will generate a positive result for 2002 as a whole.The detailed interim report is available on our homepage www.mediclin.de and may be obtained from the company. Share repurchase program decided upon The MediClin AG board decided to acquire up to 1.5 million own shares, thus making use of the authorization granted by the general meeting on 31 May 2002 to repurchase once or repeatedly, own shares at a proportion of 3,150,000.00 Euro attributable to the shares in nominal capital up to 30 November 2003. The up to 1.5 million corporate shares are to remain with the company for the present. The purchase price for each share (without incidental acquisition costs) may not underrun or exceed by more than 5% the closing price average of the MediClin AG share in the Xetra trading system (or a comparable successor system of Deutsche Börse AG) on the five stock exchange trading days prior to the acquisition transaction. The board is expected to commence the share repurchase program on 29 August 2002. end of ad-hoc-announcement (c)DGAP 29.08.2002 ——————————————————————————– WKN: 659510; ISIN: DE0006595101; Index: Listed: Amtlicher Markt in Frankfurt (SMAX); Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 290834 Aug 02