MEDICLIN AG — Earnings Release 2001

Feb 26, 2002

News Details

Corporate | 26 February 2002 14:04

Mediclin AG english

MediClin AG reports preliminary results for the 2001 financial year Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– MediClin AG reports preliminary results for the 2001 financial year Weak fourth quarter adversely effects operative result Increase in consolidated sales by 4.2 % to Euro 313.5 million Increase in consolidated net income from Euro 5.2 million to Euro 8.8 million 26. February 2002. On the basis of preliminary figures, MediClin AG generated consolidated sales of Euro 313.5 million in the 2001 financial year, an increase of 4.2 % in comparison with the previous year. The operative result (EBIT) will probably amount to Euro 15.6 million (previous year: Euro 27.1 million). Following a satisfactory third quarter, a sudden reduction of occupancy in certain post-acute clinics during the months of November and December had a marked impact on results. Consolidated net income is expected to amount to Euro 8.8 million (previous year: Euro 5.2 million).Consequently, earnings per share will be Euro 0.28. EBIT margin approximately 11 % in 80 % of all facilities The MediClin facilities are characterised by a high level of profitability in those regions where the MediClin network already exists. Eighty percent of its activities generate an EBIT margin (before group allocations, after rent of an average of 11 %. MediClin AG regards this as confirmation of its strategy to enforce the expansion of regional medical care networks and a high level of integration. In contrast, and at certain facilities, the sudden decline in bed occupancy through cost coverage by centralised key insurance companies severely impacted the fourth quarter. In addition, increased integration and restructuring costs at some clinics made themselves felt. MediClin has responded to this through targeted cost management and with conceptional and personnel measures. Growth course continues MediClin AG is continuing to grow through the acquisition of several profitable facilities. In addition to the take-over of the majority shares in Müritz Clinic in the fourth quarter of 2001, and the acquisition of Westdeutsche Cyclotron GmbH in early 2002, the acquisition of the Fachklinik Rhein Ruhr (Rhein Ruhr specialist clinic) in January 2002 offers additional growth potential for MediClin AG in a highest populated area in Germany. Outlook The MediClin AG expects from the integration of new facilities and the progress achieved in establishing its regional network, a positive development for 2002 even if the current unsatisfactory utilisation in the occupancy rate of individual clinics only picks up slowly in the first quarter. MediClin plans further acquisitions in order to expand its regional networks. MediClin AG assumes that, in 2002, overall sales markedly in excess of Euro 400 million and earnings per share of 0.45 Euro will be achieved. About MediClin (Symbol: MED, WKN: 659 510) MediClin AG is a nation-wide clinic operator with head office in Frankfurt The administrative headquarters of 43 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. Two facilities are run in the form of management agreements; MediClin has more than 10,000 employees of whom about 800 are physicians in various specialist fields Für weitere Informationen MediClin GmbH Öffentlichkeitsarbeit Gabriele Eberle Okenstrasse 27 77652 Offenburg Telefon +49 (0) 781 488-180 Fax: +49 (0) 781 499-184 Email: Gabriele.Eberle@mediclin.de MediClin AG Investor Relations Alexandra Mühr Wilhelm-Leuschner-Strasse 9-11 60329 Frankfurt am Main Telefon +49 (0) 69 256002-13 Fax +49 (0) 69 256002-69 Email: Alexandra.Muehr@mediclin.de end of message, (c)DGAP 26.02.2002