RHÖN-KLINIKUM AG  / Key word(s): Quarter Results/Results Forecast

12.04.2012 08:33

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  - Earnings from separate accounting in Gießen and Marburg deferred

  - Higher-than-planned increases in service volumes, but delays in
    restructuring of personnel expenses in Gießen and Marburg

  - Claims of health insurance funds with regard to remuneration discounts
    on agreed additional service volumes well over 30 %

  - Targeted positive earnings contributions deferred to subsequent
    quarters - Q1 result therefore diminished within a range of roughly EUR
    5 million to EUR 9 million

  - Revenue and earnings expectations for financial year 2012 confirmed


Bad Neustadt a. d. Saale, 12 April 2012

At Universitätsklinikum Gießen und Marburg, income from agreed cost
allocations with the medical faculties for already incurred expenses
('separate accounting') is being delayed from which a positive EBITDA
contribution in the single-digit euro million range had been targeted in
the first quarter. Moreover, the earnings situation in Gießen and Marburg
has been influenced over the past weeks by the following factors: Firstly,
the trend in service volumes at both sites was roughly 9 % in the first
quarter of 2012, well exceeding the figures that had been targeted
internally by RHÖN-KLINIKUM AG. However, pursuant to section 4 of the
German Hospital Financing Act (Krankenhausentgeltgesetz, KHG), such
expansions in service volumes are remunerated at steep 'discounts on
additional volumes' of up to 65 %. Since such additional service volumes at
the same time entail additional costs, a significant expansion in service
volumes may also have diluting effects on margins and earnings in the first
quarter. Depending on the outcome of the budget negotiations at the
individual facilities, backlog revenue effects resulting from the
subsequent higher valuation of surplus service volumes already rendered
(but which then would not be diminished by additional costs) may occur in
the further course of the year. The claims of the health insurance funds
regarding the remuneration discount on agreed additional service volumes
are currently well above our original expectation of 30 %. At the same
time, the restructuring of costs in the personnel area planned in Gießen
and Marburg was recently delayed.

In view of these developments and given the high significance of
Universitätsklinikum Gießen und Marburg for the Group, the Q1 result of
RHÖN-KLINIKUM AG will be diminished within a range of roughly EUR 5 million
to EUR 9 million. However, since the targeted positive earnings
contributions - particularly from the separate accounting - will merely be
deferred to the subsequent quarters, there will be no impact on the
full-year revenue and earnings targets. RHÖN-KLINIKUM AG therefore confirms
its revenue and earnings expectations for financial year 2012 as follows:

For 2012 including the targeted revenue and earnings contributions of
Dr.-Horst-Schmidt-Kliniken (HSK) , RHÖN-KLINIKUM AG expects revenues of EUR
2.85 billion which may fluctuate within a range of plus or minus 2.5 %.
This revenue target is accompanied by a forecast for EBITDA of EUR 350
million and for net consolidated profit of EUR 145 million - in each case
influenced by a negative earnings contribution from the HSK consolidation
and subject to a fluctuation range of plus or minus 5 %.

The Board of Management

Contact: 

Dr. Kai G. Klinger
Head of Investor Relations

RHÖN-KLINIKUM AG
Vorstandsbereich
Finanzen, Investor Relations, Controlling
Schlossplatz 1
D-97616 Bad Neustadt a. d. Saale

Tel.:       +49 (0)9771-65.13 18
Fax:       +49 (0)9771-99.17 36
Mobil:   +49 (0)151-12 58 27 07
E-Mail:  kai.klinger@rhoen-klinikum-ag.com
web:      www.rhoen-klinikum-ag.com

Aufsichtsratsvorsitzender: Eugen Münch
Vorstand: Wolfgang Pföhler (Vors.), Volker Feldkamp, Dr. Erik Hamann,
Martin Menger, Dr. Irmgard Stippler
Sitz der Gesellschaft: Bad Neustadt a. d. Saale
Registergericht Schweinfurt HRB 1670


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Language:     English
Company:      RHÖN-KLINIKUM AG
              Schlossplatz 1
              97616 Bad Neustadt a.d.Saale
              Germany
Phone:        +49 (0)9771 - 65-0
Fax:          +49 (0)9771 - 97 467
E-mail:       rka@rhoen-klinikum-ag.com
Internet:     www.rhoen-klinikum-ag.com
ISIN:         DE0007042301
WKN:          704230
Indices:      MDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
 
End of Announcement                             DGAP News-Service