Rhön-Klinikum AG — Earnings Release 2002

Oct 29, 2002

News Details

Corporate | 29 October 2002 07:00

Rhön-Klinikum AG english

RHÖN-KLINIKUM AG, Bad Neustadt – Interim Report for Q 3 – 2002 Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Revenues for the first nine months of 2002 within target range Q3 earnings confirm positive trend in performance 2002 results expected to reach at least previous-year levels Bad Neustadt/Saale, 29 October 2002 —– In its interim report at 30 September 2002 published today, RHÖN-KLINIKUM Group once more confirms its own revenue forecast: Revenues for the first nine months of 2002 are shown 25 % higher at EUR 651.9 million (previous year: EUR 521.4 million). Third-quarter revenues improved by 25.9 % to EUR 220.0 million, compared to EUR 174.8 million in the same period of the previous year. From January through September 2002, RHÖN- KLINIKUM hospitals treated a total of 353,860 patients (previous year: 261,787); this figure includes inpatient, day-case and outpatient treatments. Due to statutory budget ceilings and decreasing average revenues per case, the growth in patient treatments (+ 35.1 %) does not fully translate into revenue growth. 2002 Q3 earnings rose to EUR 20.7 million, or EUR 0.79 per share, up 18.3 % from that of the same period of the previous year; this was achieved even after bringing to account the flood damages at the Group s hospital in Freital (uncovered by insurance: EUR 3.1 million). The Board values this result as a clear sign that the turnaround is in progress and that the subdued mid-half- year prospects have turned into well-founded expectations that the previous-year results will be matched . Failure to realise this target would entail another 20 % cut equivalent to approx. EUR 1 million in top management s performance-based fees (in addition to a 10 % cut already effected). Consolidated profit for the first nine months at EUR 49.3 million, or EUR 1.89 per share, is stated EUR 1.1 million or 2.2 % lower than that of the corresponding previous-year period. This means that the backlogs the Group has to make up for to mach previous-year results is now only 2.2 % versus 12.7 % at 30 June 2002. At 30 September 2002, the Group employed 12,298 persons (previous year: 9,380). Please find the Interim Report for the third quarter of 2002 under www.rhoen- klinikum-ag.com end of message, (c)DGAP 29.10.2002 ——————————————————————————– WKN: 704230; ISIN: DE0007042301; Index: MDAX Listed: Amtlicher Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 290700 Okt 02