MEDICLIN AG — Earnings Release 2002

May 22, 2002

News Details

Corporate | 22 May 2002 21:09

Mediclin AG english

MediClin reaffirms its annual forecast Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– – The board confirms course of growth as a result of acquisitions – Results in the first quarter strained – Significant success through measures taken Frankfurt, 22 May, 2002: MediClin AG, one of the largest clinic operators in Germany, closed the first quarter with a negative result. Sales amounted to 82.4 million Euro (previous year: 73.8 million Euro); consolidated net income was -3.6 million Euro (previous year: 2.0 million Euro). Due to the still low capacity utilization, results were negative in the first two months of 2002. Starting with the low level at the turn of the year, occupancy recovered slowly and in March already positive results could be posted. Occupancy figures in April show a further marked increase. It is apparent from the sales and income development that the measures taken at the end of the year, especially in the post-acute clinics where occupancy declined perceptibly in late 2001, are taking effect. A better adjustment to seasonal and regional market requirements will be achieved through cost management and conceptional reorientation. Planned growth through further acquisitions The board of MediClin assumes that further acquisitions will be made this year. Market conditions for this are continuously improving as a result of the growing number of clinics on offer and MediClin is in a very good competitive position because of its conceptional and financial strength. Today the company has approximately 75 million Euro in liquid funds available as growth capital. Supervisory Board approves Corporate Governance Code At todays meeting, the Supervisory Board stressed that MediClin welcomes the targets set by the German Corporate Governance Code and voluntarily agrees to observe the high, nationally and internationally recognised standards of exemplary corporate governance. On the basis of the recommendations and stimuli provided by the German Corporate Governance Code, if not already implemented, behavioural rules are to be established and put into concrete form by the MediClin management. Outlook MediClin reaffirms expectations for 2002 Developments in clinic occupancy confirm typical seasonal fluctuations on the health market. Occupancy rates during the second and third quarter regularly exceed the other quarters by an average of 5 7 percentage points. Given current underlying conditions, the board therefore confirms expectations of reaching the targets set for 2002. For financial year 2002, MediClin assumes that total sales of more than 400 million Euro and earnings per share of 0.45 Euro will be achieved. The complete quarterly report is to be found in the Internet under www.mediclin.de as from 31 May, 2002. The General Meeting takes place in Frankfurt at 2 p.m. on 31 May, 2002. MediClin AG (Ticker: MED; WKN: 659 510) MediClin AG is a nation-wide clinic operator with head office in Frankfurt The administrative headquarters of 44 clinics and facilities is in Offenburg. The MediClin facilities are distributed over 36 locations in 11 federal states and have a total capacity of over 9,500 beds. They include general hospitals, special treatment facilities, specialised hospitals, clinics for medical rehabilitation/subsequent nursing treatment and nursing facilities as well as a practice clinic. Two facilities are run in the form of management agreements. For more inforamtion please contact: MediClin GmbH Öffentlichkeitsarbeit Gabriele Eberle Okenstraße 27 77652 Offenburg Tel.: +49 (0) 781 488-180 E-Mail: gabriele.eberle@mediclin.de MediClin AG Investor Relations Alexandra Mühr Wilhelm-Leuschner-Straße 9-11 60329 Frankfurt am Main Tel.: +49 (0) 69 25 60 02-13 E-Mail: alexandra.muehr@mediclin.de www.mediclin.de end of message, (c)DGAP 22.05.2002