RHÖN-KLINIKUM AG / Quarter Results/AGM/EGMCorporate news transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.
RHÖN-KLINIKUM AG, Bad Neustadt/Saale - Q2 2006 results –• Revenue raised by 36.3% to € 938.1 million• Rise in net consolidated profit to € 45.6 million as expected• Group continues to enjoy stable and sound financial structures• 677,615 patients treated by Group hospitals during the first half• Group staff of 30,785 as at 30 June 2006• 45 hospitals with 14,620 beds/places as at 30 June 2006• Forecast confirmation for full-year 2006: revenue of € 1.9 billion andnet consolidated profit of € 93 millionNote: The press release on today’s Annual General Meeting of the Company inFrankfurt am Main will be published after 12 a.m.Bad Neustadt a. d. Saale, 19 July 2006 ----- With its interim report forthe six months ended 30 June 2006 presented today, RHÖN-KLINIKUM Groupreports a substantial rise in revenues. Compared with the first threemonths of 2006, revenues in the second quarter grew by € 30.5 million (+6.7%), reaching € 484.3 million. Compared with the first half of 2005,revenues recorded a sharp rise by € 249.8 million (+36.3%) to reach € 938.1million (previous year € 688.3 million). The hospitals consolidated fromthe second half of 2005 contributed € 211.6 million to this growth inrevenues, with Universitätsklinikum Gießen und Marburg GmbH accounting for€ 172.7 million. Internal growth stood at € 37.9 million (+ 5.5%), with €8.6 million attributable to the earnings-neutral change in accounting of,for example, the tax levied for training and education.As expected, margins declined as a result of the still inefficientstructures of the newly consolidated hospitals compared with the Group’slong-standing facilities. “The measures taken to reap the fullrationalisation potential of these hospitals are moving ahead as planned”,said Wolfgang Pföhler, chairman of the Board of Management of the listedhospital group headquartered in the Rhön.Net consolidated profit for the second quarter of 2006 of € 22.9 millionchanged as expected only slightly compared with the figure of the firstthree months of 2006 (€ 22.7 million). Compared with the same period lastyear, net consolidated profit rose in the first six months of 2006 by € 1.2million to € 45.6 million (previous year: € 44.4 million). “The result in the first half of 2006 was burdened in particular by theloss at Universitätsklinikum Gießen und Marburg of € 5.6 million, but thiswas offset by improvements at the other hospitals”, said Dietmar Pawlik,who has been on the Board of Management since the beginning of 2006 withresponsibility for Financing, Investor Relations and Controlling.Earnings per share for the first six months of 2006 stood at € 0.84(previous year: € 0.81 adjusted / + 3.7%).In the first half of 2006 EBITDA* recorded an increase by € 4.9 million to€ 103.6 million (previous year: € 98.7 million), and the operating result(EBIT) stood at € 71.1 million, up 3.3% versus its pre-year level of € 68.8million. Earnings before tax (EBT) gained € 1.6 million (+ 2.6%) to reach €62.5 million in the first half of 2006.Of the investments made by the Group in the first six months of 2006totalling € 276.3 million (previous year: € 199.1 million /+ 38.8%), €209.7 million went for tangible fixed assets acquired on hospital takeoversand € 66.6 million for investment in the Group’s long-standing facilities(new and top-up investments as well as fixtures and equipment). € 78.1million of this investment volume (previous year: € 74.5 million/ + 4.8%)was financed from the operating cash flow, € 83.7 million from an increasein net debt to banks to € 385.9 million (previous year: € 302.2 million)versus the last balance sheet date, as well as from the use ofinterest-free short- and long-term loan capital.“Net debt to banks rose from € 301.0 million at the end of 2005 to € 385.9million at the end of the first half of 2006 as a result of purchase pricepayments for the hospitals taken over. After the conclusion of a syndicatedloan for a term of five years, long-term assets are now fully matched byequity capital and long-term liabilities”, explained Dietmar Pawlik. Theequity ratio declined from 39.6% at the end of financial year 2005 to 34.6%as at 30 June 2006. This comes as a result of the Company’s buoyant growthand accompanying increase in assets and loan capital. “The Group continuesto enjoy stable and sound financial structures”, Pawlik stated. In the first six months of 2006 our hospitals treated 677,615 patients(previous year: 487,835 / + 189,780 / + 38.9%) on an inpatient, day-caseand outpatient basis. Compared with the first half of the previous year,average per-case revenue rose by 8.6% in the inpatient area and by 11.0% inthe outpatient area. The much higher per-case revenues atUniversitätsklinikum Gießen und Marburg (€ 4,234 for inpatient cases and €101 for outpatient cases) compared with the long-standing facilitiesbrought an increase in average per-case revenue within the Group. At 30 June 2006, the Group employed 30,785 persons (31 December 2005:21,226), with 9,869 added by the newly consolidated facilities. Thehospitals consolidated at the end of 2005 recorded a slight decline instaff numbers (-310)._______________* Earnings before depreciation/amortisation, interest and income taxCurrently we operate 45 hospitals at a total of 34 sites with 14,620beds/places approved under federal state hospital requirement plans. Thenewly acquired hospitals add 2,660 beds to the Group, with 2,262 of thesebeing contributed by the Gießen and Marburg sites. Due to the disputedprohibition of the takeover by the German Cartel Office, the figures do notinclude the district hospitals in Bad Neustadt/Saale and Mellrichstadt.“The action filed with the Düsseldorf Court of Appeals for a decision onour appeal is ongoing. We expect a decision in the fourth quarter of 2006”,explained Wolfgang Pföhler.Forecast confirmation for 2006:“Revenues and net consolidated profit developed in line with ourexpectations“, said Wolfgang Pföhler. “For financial year 2006 we continueto expect revenues of € 1.9 billion and leave our target for netconsolidated profit of € 93 million unchanged. We will offset the burden onearnings resulting from the takeover of Universitätsklinikum Gießen undMarburg with the improved results of our other facilities.”Sallwey & PartnerBrigitte SallweyTelemannstr. 18D-60323 FrankfurtTel.: (+49) 069-97203628DGAP 19.07.2006 
 Language: EnglishIssuer: RHÖN-KLINIKUM AG Salzburger Leite 1 97616 Bad Neustadt/ Saale DeutschlandPhone: +49 (0)9771 - 65-0Fax: +49 (0)9771 - 97 467E-mail: fire.ir@rhoen-klinikum-ag.comWWW: www.rhoen-klinikum-ag.comISIN: DE0007042301WKN: 704230Indices: MDAXListed: Amtlicher Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service