MEDICLIN AG — Earnings Release 2007

Aug 10, 2007

News Details

Corporate | 10 August 2007 10:47

Business development in the first half-year of 2007 improved against same period last year despite rising costs

MediClin AG / Half Year Results

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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The issuer / publisher is solely responsible for the content of this announcement.

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Frankfurt, August 10, 2007 – The Board of Management of MEDICLIN
Aktiengesellschaft (MediClin) is satisfied with the course of business in
the first half-year of 2007. Consolidated sales rose to EUR 191.8 mill., an
increase of EUR 5.6 mill. or 3.0% over the comparable period last year.
Despite rising costs for materials and staff, our consolidated operating
result grew by 2.5% to EUR 5.7 mill. (1 HY 2006: EUR 5.6 mill.). The
consolidated result before taxes and minority interests was up to EUR 3.1
mill., a gain of EUR 0.1 mill. over the previous year’s figure. Only the
consolidated result attributable to shareholders of MediClin AG could not
keep pace as a consequence of higher tax expenses. At EUR 2.2 mill., this
figure came in just under EUR 0.3 mill. compared with the same period last
year.
We are also pleased that the positive trend of the first quarter has
continued on into the second quarter of 2007. Sales rose by EUR 2.4 mill.
over the first quarter of 2007, and the consolidated operating result of
the second quarter improved from EUR 1.5 mill. to EUR 4.2 mill. This
increase can be traced not only to sales gains but also to materials
expense holding constant over the first quarter of 2007.

Sales increase in all three segments
In all three segments sales increased in the first half-year of 2007. With
a gain of EUR 3.0 mill., the post-acute segment made the greatest
contribution to the sales increase, also improving its result by EUR 0.5
mill. Here sales of EUR 108.6 mill. were generated at a segment result of
EUR –2.1 mill. In the acute segment, year-on-year sales for the first
half-year rose by EUR 1.8 mill. to EUR 78.3 mill.; the segment result
decreased by EUR 0.4 mill. to EUR 8.1 mill. for the same period last year.
This decline can mainly be attributed to higher staff costs. As announced,
we have responded to the new on-call regulation by hiring more physicians.
The nursing care segment has continued to show good development. Sales
climbed by EUR 0.8 mill. to EUR 4.9 mill. over the previous year’s figure,
with the same segment result (EUR –0.3 mill.).

Number of nursing days, number of cases and occupancy rates increased
The number of nursing days provided in the Group rose by 34,685 days or 3.2
% up to 1,107,403 days, as compared to the first-half year of 2006 (1 HY
2006: 1,072,718). The number of cases in the Group increased by 3.1% up to
53,867 cases (1 HY 2006: 52,256). The occupancy rate of the Group rose from
77.7% to 83.0%.
Results after tax will be burdened nonrecurring by the
Unternehmensteuerreform 2008.
For 2007, the Management Board expects moderate sales growth and an
operating result on par with that of the 2006 financial year – despite
budget cutbacks as a result of restructuring contribution in the acute
segment, as well as expected cost increases in all areas. The
Unternehmensteuerreform 2008 will cause a strain on results after tax in
the third quarter of 2007, namely in an one-time effect and not
cash-effective of EUR 4.3 mill., thereby impacting the entire 2007
financial year accordingly. The effect results from the necessary
revaluation of the existing unused tax losses of MediClin due to the
reduction of the income tax rate from 25% to 15% commencing 1 January 2008.
The Interim Report as of June 30, 2007 appears under www.mediclin.de in
German and English.

About MediClin AG (Ticker: MED; WKN: 659 510)
MediClin AG is a nation-wide clinic operator and large provider of services
in the area of Psycho- and Neurosciences as well as Orthopaedic. With 30
clinics and 8 nursing care facilities and 3 Medizinische Versorgungszentren
(medical care units) in 11 federal states MediClin has a total capacity of
approximately 7,400 beds. MediClin’s facilities include acute care clinics,
i.e., general hospitals, special treatment facilities, specialised
hospitals and clinics for post-acute treatment and medical rehabilitation.
MediClin has approximately 6,900 employees.
Important notice:
This press release includes future-oriented statements which are based on
assumptions and estimates. While MediClin AG is of the opinion that these
assumptions and estimates are correct, the actual future developments and
actual future results may deviate from these assumptions and estimates due
to the impact of various factors such as changes in the economic conditions
in Germany, legal changes concerning the health system, changes relating to
cost providers’ expense behaviour. MediClin does not assume liability and
gives no warranty that future developments and the income actually achieved
in the future will comply with the assumptions and e
DGAP 10.08.2007

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Language: English
Issuer: MediClin AG
Wilhelm-Leuschner-Straße 9-11
60329 Frankfurt am Main
Deutschland
Phone: +49 (0)69 25 60 02-0
Fax: +49 (0)69 25 60 02-69
E-mail: ute.brauer@mediclin.de
Internet: www.mediclin.de
ISIN: DE0006595101
WKN: 659510
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Stuttgart

End of News DGAP News-Service

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