RHÖN-KLINIKUM AG  / Key word(s): Change in Forecast/Profit Warning

27.07.2012 07:10

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.



RHÖN-KLINIKUM AG

Ad hoc disclosure according to § 15 WpHG

RHÖN-KLINIKUM adjusts forecast for the year
  - Restructuring of UKGM delayed, full-year operating result expected to
    be burdened by roughly EUR 20 million

  - Surge in costs as a result of high wage increases coupled with
    persistent price pressures

  - Extraordinary effects from voluntary public takeover offer by Fresenius

  - Regulatory relief in the second half as a result of partial
    compensation for wage increases

  - Expectation for full-year earnings adjusted by EUR 25 million to EUR 30
    million

Bad Neustadt a.d. Saale, 27 July 2012:

At RHÖN-KLINIKUM AG, various burdens recently arose which, taken together,
require an adjustment in the forecast for the current year. These
essentially relate to three developments:

Firstly, restructuring at the University Hospital Gießen and Marburg (UKGM)
has slowed considerably in recent months, which is why its trend in
earnings of late has been lagging well behind expectations. This is
especially attributable to the tight situation of personnel expenses. At 12
months' sight, operating earnings at UKGM are expected to be burdened to
the tune of roughly EUR 20 million. In a first step, RHÖN-KLINIKUM AG has
appointed a new management to implement the necessary measures.

Secondly, the hospital sector has been witnessing relatively high wage
increases in the recent past - for the facilities of RHÖN-KLINIKUM AG these
are situated on average at the upper end of expectations. This development,
coupled with the steady deterioration in prices caused by revenue discounts
on volume increases, is putting a double burden on the operating margin.

Thirdly, the announcement of a voluntary takeover offer by Fresenius and
the resulting changes in the shareholder structure that have since taken
place gave rise to insecurity within the Company organisation. Management
capacities were tied to a considerable extent, whilst important decisions
of an operative nature were put off. This negatively impacted the operative
performance of the entire Group.

Specifically with the parent, RHÖN-KLINIKUM AG, the takeover offer resulted
in extraordinary burdens in the form, e.g., of additional consultancy fees
running into several million euros in the first half of the financial year.
 
During preparations of the half-year financial statements as at 30 June
2012, these effects have now emerged more clearly, allowing an initial
rough indication to be given with regard to the trend in earnings. Based on
currently available information, net consolidated profit of the first half
will be situated at roughly EUR 50 million.

Independent of this, a positive prospect for the earnings situation is
emerging as a result of regulatory changes, such as the recently adopted
partial compensation for wage increases in the second half year. Given the
usual seasonal nature of individual hospital budget negotiations, backlog
effects from the negotiations on budgets and discounts for surplus service
volumes are possible in the second half year. In view of these positive
effects, the Company currently expects that the aforementioned adverse
developments will feed through to the full-year result of the RHÖN-KLINIKUM
Group to the net amount of EUR 25 million to EUR 30 million. However, it
should be noted in this regard that possibly not all financial consequences
of the takeover offer by Fresenius are foreseeable.

RHÖN-KLINIKUM AG therefore adjusts its outlook for full-year 2012 as
follows:

For financial year 2012, including Dr.-Horst-Schmidt-Kliniken Wiesbaden
(HSK) consolidated for the first time at the end of April, RHÖN-KLINIKUM AG
now expects revenues of EUR 2.85 billion, which may fluctuate within a
range of plus or minus 2.5 per cent. This revenue target is accompanied by
a forecast for EBITDA of EUR 315 million and for net consolidated profit of
EUR 117 million, in each case subject to a variation of +/- 5 per cent.

The detailed half-year financial statements as at 30 June 2012 will be
published on 9 August 2012.

The Board of Management

Contacts:

Dr. Kai G. Klinger
Head of Investor Relations
RHÖN-KLINIKUM AG
Corporate Division
Finance, Investor Relations, Controlling
Schlossplatz 1
D-97616 Bad Neustadt a. d. Saale
Phone:  +49 (0)9771-65.13 18
Fax:  +49 (0)9771-99.17 36
Mobile:  +49 (0)151-12 58 27 07
E-mail:  kai.klinger@rhoen-klinikum-ag.com
Web:  www.rhoen-klinikum-ag.com

Max Mueller
Director Corporate Communications
Friedrichstraße 82
D-10117 Berlin
Phone: +49 30 20603-700
Fax: +49 30 20603-701
Mobile: +49 171 5491487
Email: max.mueller@rhoen-klinikum-ag.com

RHÖN-KLINIKUM AG
Chairman of the Supervisory Board: Eugen Münch
Board of Management: Wolfgang Pföhler (Chairman), Volker Feldkamp, Dr. Erik
Hamann, Martin Menger
Registered office of Company: Bad Neustadt a. d. Saale
Registry court 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