RHÖN-KLINIKUM AG / Half Year Results/ForecastRelease of a Corporate News, transmitted by DGAP - a company of EquityStoryAG.The issuer / publisher is solely responsible for the content of this announcement.
RHÖN-KLINIKUM AG, Bad Neustadt/Saale– Results of H1 2007 –• Success and growth course confirmed• Revenue raised by 7.4% to € 1.0 billion• Expectations met with net consolidated profit of € 52.6 million• Universitätsklinikum Gießen/Marburg reaches break-even• Forecast confirmation for full-year 2007: Revenue of € 2 billion and net consolidated profit of € 102 millionNote: The Company reports in accordance with International FinancialReporting Standards (IFRS) in their version applicable for 2007. Inaccordance with the first-time application of the provisions of theTransparency Directive Implementing Act(Transparenzrichtlinien-Umsetzungsgesetz, TUG), which replaces existingquarterly reporting practice, the Half-Year Financial Report is currentlypresented with abridged Consolidated Interim Financial Statements andConsolidated Interim Report of the Management. As a result, the statementsmade no longer relate to the second quarter but to the first half of thefinancial year 2007. You can find additional informations related toQ2/2007 in the notes.Bad Neustadt a. d. Saale, 9 August 2007 ----- The chairman of the Board ofManagement of the listed hospital group RHÖN-KLINIKUM AG, Wolfgang Pföhler,regards the performance and results of the first and second quarter of 2007'as a confirmation of our success and growth course. Both patient contactsand revenues and net consolidated profit were raised once again versus theprevious year.'Compared with the first half of 2006, revenues grew in the first six monthsof 2007 by € 68.9 million (+7.4%) to € 1,007.0 million (previous year: €938.0 million).Of this growth in revenue, € 42.0 million stems from consolidation effects(first-time consolidation of Universitätsklinikum Gießen und Marburg GmbHfrom 1 February 2006 and of Kreiskrankenhaus Köthen from 1 April 2007) and€ 26.9 million (2.9%) from organic growth.Compared with the first half of 2006, net consolidated profit rose by € 7.0million (+15.5%) to reach € 52.6 million (previous year: € 45.6 million) onthe back of a gain (+20.6%) in EBITDA by € 21.3 million to € 124.9 million(previous year: € 103.6 million), the increase (+13.6%) in EBIT by € 9.7million to € 80.8 million (previous year: € 71.1 million) and (+17.6%) inEBT by € 11.0 to 73.4 million (previous year: € 62,5 million). This was inline with the expectations of the Group's management. Net consolidatedprofit in the first half corresponds to earnings per share of € 0.97(previous year: € 0.84 adjusted).Various legislation measures (increase in VAT to 19%, introduction of thereform impost for hospitals through revenue deduction from hospitalremuneration, as well as continuation of revenue deductions to financeintegrated care) as well as the impact of changes in doctors’ pay burdenedthe Group in the first half of 2007 to the tune of some € 19.5 million andwere completely offset. 'Various counter-measures already introduced in the previous year as part of the ten pointprogramme have been successfully executed', said Wolfgang Pföhler.The positive performance was helped in particular by the completeelimination of losses at Universitätsklinikum Gießen und Marburg GmbH whichhad burdened consolidated earnings. In the first half of 2007, theuniversity hospital reached break-even and generated a surplus of € 0.4million (previous year: loss of € 5.6 million). Gerald Meder, deputychairman of the Board of Management of RHÖN-KLINIKUM AG and chairman of themanagement of Universitätsklinikum Gießen und Marburg GmbH, explains inthis regard: 'The positive development of Universitätsklinikum Gießen undMarburg GmbH is now also showing up more and more clearly in the earningsfigures. We are convinced we will be able to continue this positive trendin the second half.'The first-time consolidation of Krankenhaus Köthen (264 beds) on 1 April2007 burdened consolidated half-year earnings by € 0.5 million.Driven by acquisitions and investments, the Company’s assets increased by €47.7 million (+2.4%).As at the reporting date of 30 June 2007, equity capital of € 751.9 million(31 December 2006: € 728.7 million) is reported, with dividend payments toshareholders and minority owners in the amount of € 29.5 already beingincluded. The equity ratio rose slightly from 36.7% to 37.2%.Overall, 98.2% of non-current assets is covered by equity and non-currentliabilities. Net debt to banks rose since the last reporting date from €439.0 million by € 53.7 million to € 492.7 million as at 30 June 2007. Notincluded in the calculation of net debt are marketable securities worth €11.5 million.Internal financing strength has increased significantly. Compared with thesame period last year, cash flow rose by € 18.7 million or 23.9% to reach €96.8 million.'The Group continues to enjoy stable and sound financial structures',stated Dietmar Pawlik, the Company’s CFO.Of the investments amounting to € 121.5 million (previous year: € 276.3million) in the first six months of 2007, € 46.9 million was attributableto investments funded from grants under the Hospital Financing Act (KHG)and deducted from total investments pursuant to the relevant provisions ofIFRS. In the further course of 2007 we have planned to invest a furtheramount of roughly € 145 million.As at 30 June 2007, a total of 46 hospitals with 14,861 beds/places at atotal of 35 sites in nine federal states were consolidated.'To ensure better integration of outpatient and inpatient care, we havefounded ten medical care centres (MVZ) since 2005. As we intend to fullyexploit the many benefits from linking the MVZs to our hospitals – interalia by shifting tasks to the outpatient area, avoiding redundantavailability of large medical equipment units and higher pre- andpost-inpatient quality in diagnosis and therapy –, the establishment offurther new MVZs will follow', explained the chairman of the Board ofManagement. For the further course of financial year 2007, commissioningswith 23 doctor’s practices are planned at a total of seven sites.In the first six months a total of 782,718 patients (up by 105,103 patients/ +15.5%; previous year: 677,615) were treated in the Group’s hospitals andMVZs. Of this increase, outpatient treatments account for roughly 85.3%.After deducting consolidation effects (Universitätsklinikum Gießen undMarburg GmbH, Krankenhaus Köthen and first-time inclusions at the MVZs),this leaves organic growth in patient numbers of 21,707 patients or 3.2%.This growth is distributed nearly uniformly over the entire Group.With effect from 1 January 2007 a total of ten service companies werestarted within the Group for provision of infrastructural services(including cleaning, catering, facility management services). With thesefurther price reductions are being sought through competition within theGroup.At 30 June 2007, the Group had 31,844 employees (31 December 2006: 30,409).The newly consolidated facility in Köthen added 396 new employees. By 30June 2007, following the integration of ten service companies, the Grouptook over a total of 1,558 employees from external service companies thathad previously served the Group. The hospitals consolidated at the end of2006 witnessed a slight decline in staff numbers (-519).'Now that the legislative process for the corporate tax reform in Germanyis about to be concluded, we assume that income tax rates will be lowered.RHÖN-KLINIKUM AG will benefit from lower corporate tax rates, the specificextent of which we will make known after publication of the revisedcorporation tax act', said Wolfgang Pföhler.'Based on the current framework conditions, we confirm our revenue forecastfor full-year 2007 of € 2 billion and our earnings forecast of € 102million. With new ideas and business models for high-quality, generalisedand affordable healthcare we will further expand our lead in innovation andopinion on the hospital market', said Pföhler in conclusion. Notes / Q2-2007Key ratios Q2/2007 vs. Q2/2006 € millio Q2/2007 /// Q2/2006 /// Change (%)Revenues 505.0 /// 484.3 /// 4.3EBITDA 63.8 /// 51.6 /// 23.6EBITDA-ratio (%) 12.6 /// 10.7 /// 17.8EBIT 40.4 /// 35.3 ///14.4EBIT-ratio (%) 8.0 /// 7.3 /// 9.6EBT 38.4 /// 31.2 /// 23.1EBT-ratio (%) 7.6 /// 6.5 /// 16.9Net consolidated profit according to IFRS 27.4 /// 22.9 /// 19.7Earnings share of minority owners 1.2 /// 0.9 /// 33.3Earnings share of RHÖN-KLINIKUM AG shareholders 26.2 /// 22.0 /// 19.1Return on revenues (%) 5.4 /// 4.8 /// 12.5Operating cash flow 50.8 /// 39.2 /// 29.6Equity capital according to IFRS 751.9 /// 688.5 ///9.2Balance sheet total according to IFRS 2,027.3 /// 1,993.8 /// 1.7Investments 43.1 /// 66.6 /// -35.3Earnings per share (€) 0.51 /// 0.42 /// 21.4Number of employees (at 30.06.) 31,844 /// 30,785 /// 3.4Case numbers (patients treated) 393,836 /// 363,841 /// 8.2Beds and places 14,861 /// 14,620 /// 1.6Brigitte SallweyTelemannstr. 18D 60323 FrankfurtTel.: (+49)(0)69-97203628DGAP 09.08.2007 
 Language: EnglishIssuer: RHÖN-KLINIKUM AG Schlossplatz 1 97616 Bad Neustadt a.d.Saale DeutschlandPhone: +49 (0)9771 - 65-0Fax: +49 (0)9771 - 97 467E-mail: fire.ir@rhoen-klinikum-ag.comInternet: www.rhoen-klinikum-ag.comISIN: DE0007042301WKN: 704230Indices: MDAXListed: Amtlicher Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service