DGAP-News: MediClin AG / Key word(s): Half Year Results
MediClin achieved Group sales close to 330 million Euro in the first half financial year of 2017

04.08.2017 / 15:16
The issuer is solely responsible for the content of this announcement.


Offenburg, August 4, 2017 - In the first half year of 2017 MEDICLIN Aktiengesellschaft (MediClin) achieved Group sales of EUR 298.9 mill. thus being EUR 9.8 mill. or 3.4 % above the first half year of 2016. The Group EBIT declined from EUR 9.1 mill. to EUR 5.6 mill.

Staff costs burden result

The main reason for the decrease of the Group EBIT was the marked increase in staff costs (EUR +11.9 mill.) which are based on wage increases as well as on a higher number of employees (+287 full-time employees). The number of employees rose due to an expansion of the range of services, regulatory provisions on behalf of the legislature that determine increased structural requirements, and preparations which are made to be able to expand the medical, therapeutic and nursing care services. The increase in raw materials and consumables used was disproportionately low compared to sales increase, whereas the change in depreciation and amortisation and other operating expenses was in line with expectations.

The financial result of EUR -0.9 mill. improved by EUR 0.4 mill. The total consolidated result attributable to shareholders of MEDICLIN Aktiengesellschaft was EUR 3.8 mill. (H1 2016: EUR 6.3 mill.). Earnings per share came to EUR 0.08 (H1 2016: EUR 0.13).

Increase in sales in the post-acute segment and the nursing care business area

In the first half year of 2017 sales in the post-acute segment were EUR 182.5 mill. thus EUR 9.9 mill. higher than in the same period of the previous year. This growth was driven by the good utilisation of capacities in neurology, acute neurology, psychosomatics, orthopaedics as well as geriatrics. In the acute segment sales amounted to EUR 106.9 mill., being EUR 0.5 mill. below previous year's value. Sales in the nursing care business area climbed by EUR 0.4 mill. to EUR 7.6 mill.

The segment result in the post-acute segment improved from EUR 6.0 mill. to EUR 7.0 mill. The segment's EBIT margin for the first half year of 2017 came out to 3.9 % (H1 2016: 3.5 %). In the acute segment lower sales and higher expenses led to a decline of the segment result from EUR 2.7 mill. to EUR -1.0 mill. The segment's EBIT margin for the first half year of 2017 came out to -0.9 % (H1 2016: 2.5 %).

High investments secure future business development

In the first half year of 2017 a total (gross) sum of EUR 20.6 mill. was invested (H1 2016: EUR 13.7 mill. Euro), pertaining mainly in reconstruction and expansion of clinics and in medical equipment. Cash and cash equivalents as of 30 June 2017 amounted to EUR 21.9 mill. (31.12.2016: EUR 41.6 mill.; 30.06.2016: EUR 21.6 mill.). The equity ratio was 53.3 % as at the reporting date.

Guidance for the Group confirmed

In the second half of the 2017 financial year, the Management Board forecasts sales growth above the growth figure in the first six months of the 2017 financial year and a considerable increase in earnings for the Group. In the post-acute segment, sales growth in the full year is expected to remain at the level seen in the first six months, with a segment result clearly above the figure in the period under review. The acute segment is burdened by increased regulatory structural requirement which are enhanced by a reduced reimbursement for cardiological and some orthopaedic services. Therefore measures already taken and initiated in addition to previous measures will not yet lead to a significant improvement in the acute segment in the second half of the 2017 financial year, meaning that the forecast sales growth will not materialise and the segment result will remain at the lower end of the forecast corridor due to higher expenses.

The interim report as of 30 June 2017 is available in German and English. www.mediclin.de

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 34 clinics, 7 nursing care facilities and 8 medical care centres in 11 federal states MediClin has a total capacity of close to 8,300 beds. MediClins' facilities include acute care clinics, general hospitals, special treatment facilities, specialised hospitals and clinics for post-acute treatment as well as medical rehabilitation. MediClin has close to 9,600 employees.

MediClin - A company of the Asklepios Group

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.



04.08.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: MediClin AG
Okenstraße 27
77652 Offenburg
Germany
Phone: +49 (0)781 488-326
Fax: +49 (0)781 488-184
E-mail: alexandra.muehr@mediclin.de
Internet: www.mediclin.de
ISIN: DE0006595101
WKN: 659510
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

598981  04.08.2017 

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