MEDICLIN AG — Earnings Release 2007

Mar 17, 2008

News Details

Corporate | 17 March 2008 13:10

Management Board of Mediclin presents Annual Report 2007MediClin AG c/o MediClin Geschäftsführungs-GmbH:

MediClin AG / Final Results

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The issuer / publisher is solely responsible for the content of this announcement.

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Frankfurt am Main, March 17, 2008 – The Management Board of MEDICLIN
Aktiengesellschaft (MediClin) is satisfied with the results of the
financial year 2007, he explained at this year’s balance sheet press
conference. 'We have increased our revenues and we could increase our
operating result by nearly 13% to 18.9 million Euro despite higher costs',
said Dr. Ulrich Wandschneider, CEO of MediClin. Regarding business
development in 2008 the Management Board anticipates revenues in the range
of 445 million Euro, but he expects higher strains on the result. In 2008
operational he will first and foremost push further the networking of the
clinics in the regions through co-operations with registered physicians and
hospitals, just as the integration of the Kraichgau-Klinik Group acquired
in January 2008. Extensions are to be made beside in the acute sector in
the nursing care sector in Bad Münder und in Tabarz to treat dementia
nursing cases.
Business development in 2007
In the financial year MediClin could increase its revenues and its
operative result significantly. Group revenues increased by 14.2 million
Euro or 3.8 per cent to 392.0 million Euro (previous year: 377.8 million
Euro). The post-acute segment has made the highes contribution with 11
million Euro. Despite increased costs in nearly all areas and budget cuts
in the acute sector an operative result of the Group of 18.9 million Euro
(previous: 16.7 million Euro) could be achieved.

The result attributable to shareholders accounts for 5.7 million EUR and is
below the previous year’s figure of 9.5 million EUR due to the reduction of
the corporate tax rate, causing a one-off non-cash effective tax burden of
4.1 million EUR.
Number of nursing days and number of cases increased
The number of nursing days increased in 2007 Group-wide by 4.5% to
2.268.797 nursing days (2006: 2,172,126 nursing days). The number of rose
by 3.7% up to 108.994 cases (2006: 105,058 cases). In the nursing care
segment no case numbers are defined.
Entwicklung in den Segmenten zufriedenstellend
Considerably increased number of cases in the post-acute segment led to an
increase in revenues and earnings so that the segment result could improve
from -1.7 million Euro to +3,2 million Euro. The occupancy rate in this
segment was 84.8% in 2007 (previous year: 77.9%). In den acute and nursing
care segment revenues increased also, but in the acute segment the segment
result of 16.1 million Euro could not match the previous year’s good value
(previous year: 18.6 million Euro) due to higher expenses. In the nursing
care segment an occupancy rate of 88.5% (previous year: 82.8%) was
achieved.
Despite increased costs definite more investments
Material expenses increased 5.1% to 84.4 million EUR (2006: 80.3 million
EUR in 2007. Personnel expenses increased also to 217.6 million EUR (2006:
212.5 million EUR). The number of staff accounted in full-time employees
was 5,277 (2006: 5.252 full-time employees) on average in 2007. Other
operating expenses were reduced to 68.6 million EUR (2006: 69.4 million
EUR). The cash flow from operating activities was 11.3 million EUR (2006:
7.8 million EUR).
Investments (gross additions to property, plant and equipment) increased
definitely in 2007 compared to the previous year. It accounted for 27.6
million EUR (2006: 17.6 million EUR).
Investments were made in the acute segment for new buildings or enlarged
capacity like in a new functional wing at the MediClin Krankenhauses am
Crivitzer See and a new wing of beds with accompanying therapy areas at the
MediClin Hedon Klinik, Lingen. The MediClin Robert Janker Klinik in Bonn
was developed into an innovative stereotaxis centre. Especially the
ambulant offers were expanded in the post-acute and acute segment, so a
psychiatric day clinic in Neubrandenburg and an ambulance for children and
teenagers was established at the Psychiatry in Offenburg.
The annual report 2007 is available 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 end of 2007. 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 7,100 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 estimates stated in this
press release.
17.03.2008 Financial News transmitted by DGAP

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Language: English
Issuer: MediClin AG
c/o MediClin Geschäftsführungs-GmbH Okenstraße 27
77652 Offenburg
Deutschland
Phone: +49 (0)781 488-189
Fax: +49 (0)781 488-184
E-mail: alexandr.muehr@mediclin.de
Internet: www.mediclin.de
ISIN: DE0006595101
WKN: 659510
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Stuttgart

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