MEDICLIN AG — Earnings Release 2001

Apr 18, 2002

News Details

Corporate | 18 April 2002 07:43

Mediclin AG english

MediClin AG is satisfied with the 2001 financial year Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– MediClin AG is satisfied with the 2001 financial year .Increase in consolidated sales by 4.7 % to Euro 315 million .Consolidated net profit for the year rose from Euro 5.2 million to Euro 8.8 million .Successful acquisitions Frankfurt am Main, 18. April, 2002. At yesterday’s balance sheet press conference, the Board of MediClin AG indicated that it was satisfied with the course of business in the 2001 fiscal year. “MediClin AG has performed well, but not brilliantly, in its first year as a listed company. In some areas we are pleased with what has been achieved, in other areas we will make further improvements”, said Rainer J. Räsch, Chairman of the Board. In financial year 2001, MediClin achieved consolidated sales of Euro 315 million, a plus of 4.7% in comparison to the previous year. The operating result (EBIT), amounted to Euro 15.6 million after Euro 27.1 million in the previous year. Sales development was slowed by a decrease in occupancy rates in certain post-acute clinics from November 2001 on. Consolidated net profit increased from Euro 5.2 million to Euro 8.8 million. This resulted in earnings per share of Euro 0.28. The MediClin Group’s equity amounts to Euro 136.5 million (previous year: Euro 125.8 million); as at the balance sheet date the company has liquid funds amounting to Euro 92.1 million (previous year: Euro 99.3million). The EBIT margin is approximately 11% at 80% of MediClin facilities. MediClin pursues an integrating regional network strategy from prevention, acute care through to post-acute treatment and targeted health care of chronically ill patients. Wherever these regional medical care networks are implemented, clinics are operating with substantial profits. Eighty percent of the facilities achieve an EBIT margin of 11% on average (before group allocations, after rent). MediClin will push for further expansion of the regional health care network and increase the degree of integration. Successful Acquisitions MediClin is very satisfied with acquisitions made in 2001. Since mid 2001, the radiological nuclear medical joint practice (Gemeinschaftspraxis) in Bonn has belonged to the group association; the privately owned Rheuma and Rehabilitationsklinik Bad Bellingen was also acquired. In addition to the majority takeover of the Crivitzer See hospital in the fourth quarter of 2001, as well as the purchase of the Müritz Klinikum and the west German Cyclotron GmbH at the beginning of 2002, additional growth potential was created through the acquisition of the Fachklinik Rhein/Ruhr in Germany’s most populated region in January 2002. Together, acquisitions made in 2002 will achieve sales of approximately Euro 65 million per year. Privatisation of Clinics – The growth market in Germany The privatisation process is gaining in dynamism. More and more publicly held and private clinics are coming onto the market. With its concept and as a result of its financial strength, MediClin finds itself in a very good competitive position; it will continue to consistently pursue its acquisition strategy directed at regional networking. MediClin expects sales of more than Euro 400 million for financial year 2002 and earnings per share of Euro 0.45. MediClin (Symbol MED, WKN 659 510) MediClin AG is a nation-wide clinic operator with head office in Frankfurt. The central administration of its 44 clinics and facilities is based in Offenburg. With these facilities at 36 locations in 11 federal states, MediClin has a total capacity of more than 9,500 beds, including acute clinics – general hospitals and specialist clinics – as well as post acute clinics for medical rehabilitation / subsequent nursing treatment, nursing facilities and a joint practice. Two clinics are operated under management contracts. For more information please contact: MediClin GmbH MediClin AG Öffentlichkeitsarbeit Investor Relations Gabriele Eberle Alexandra Mühr Okenstrasse 27 Wilhelm-Leuschner-Straße 9-11 77652 Offenburg 60329 Frankfurt a. M Phone 0781 488-180 Phone 069 256002-13 Fax: 0781 488-184 Fax 069.256002-69 Email: Gabriele.Eberle@mediclin.de Email: Alexandra.Muehr@mediclin.de http://www.mediclin.de end of message, (c)DGAP 18.04.2002