MEDICLIN AG — Earnings Release 2003

May 30, 2003

News Details

Corporate | 30 May 2003 17:42

MediClin AG english

MediClin AG: sales revenues of the first quarter 2003 with 88 million Euro at pr Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– -Occupancy rate 3 percent below previous years figure -Operating results minus 4 million Euro (p.y. 3.6 million Euro) -Measures implemented show an effect Frankfurt, 30 May 2003 – MediClin AG, one of the large German clinic operators has maintained sales including inventory changes at just about 88 million Euro (p.y.: 87.6 million Euro) in the first quarter of 2003, despite a drop in occupancy in comparison to last years quarter of 2.3 percentage points to 74.8 percent (p.y.: 77.1 percent). This shows that there is a shift towards more highly paid services in the Companys offer portfolio. Material costs were reduced by 4.2 percent or 0.8 million Euro to 18.9 million Euro (p.y.: 19.7 million Euro) through further savings and by exploiting synergies in the purchasing sector. Personnel costs are at 50.1 million Euro (p.y.: 50.4 million Euro). At minus 4.0 million Euro (p.y.: 3.6 million Euro), the operating result is 0,4 million Euro below last years figure. The financial result deteriorated by 0.3 million Euro to minus 1.6 million Euro (p.y.: minus 1.3 million Euro), largely as a result of a reduction in interest income and other earnings. Other operating expenses rose by 1.5 million Euro to 21.6 million Euro (p.y.: 20.1 million Euro), mainly as a result of predated maintenance expenses and expansion of our service offer concerning subsequent medical treatment. The consolidated net loss for the quarter rose in comparison to the same period last year to 5.6 million Euro (p.y.: 3.6 million Euro). Measures implemented show an effect It is satisfactory to note that corporate measures concerning restructuring and reorientation implemented at various clinics have already taken effect. In the acute segment sales revenues including inventory changes were, at 36.1 million Euro, 0.8 million Euro below the comparative period in the previous year (p.y.: 36.9 million Euro) due to low occupancy. However, the segment result improved to 1.4 million Euro (p.y.: 1.1 million Euro). In the post-acute segment sales revenues including inventory changes rose by 1.2 million Euro to 51.8 million Euro (p.y.: 50.6 million Euro), despite occupancy being considerably below that of last years quarter. Since most of the post- acute clinics are profitable and implemented measures are taking effect, there was only an 0.8 million Euro reduction in the segment result to minus 5.4 million Euro (p.y.: minus 4.6 million Euro). Occupancy rates develop positive After a weak fourth quarter, occupancy in January at first continued to be very moderate but there was a marked improvement during the months of February and March. The upward trend in capacity utilization continued in April and May. Due to the economy, occupancy at our clinics is still below the previous years level. Given increased occupancy, the Board of Management assumes that there will be a marked improvement in results in financial year 2003. The interim report for the first tree months of financial year 2003 will be available at 6 pm CET. The General Annual Meeting will be held at Frankfurt am Main, on June 3, 2003. About MediClin AG (Symbol: 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. Two facilities are run in the form of management agreements; more than 10,000 employees are working for MediClin For more information please contact: MediClin AG MediClin GmbH Investor Relations Public Relations Alexandra Mühr Gabriele Eberle Wilhelm-Leuschner-Straße 9-11 Okenstraße 27 60329 Frankfurt am Main 77652 Offenburg Phone +49 (0) 69 25 60 02-31 Phone +49 (0) 7 81 4 88-1 80 Fax +49 (0) 69 25 60 02-69 Fax +49 (0) 7 81 4 88-1 84 E-Mail: alexandra.muehr@mediclin.de E-Mail: gabriele.eberle@mediclin.de http://www.mediclin.de end of message, (c)DGAP 30.05.2003 ——————————————————————————– WKN: 659510; ISIN: DE0006595101; Index: SDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 301742 Mai 03