RHÖN-KLINIKUM AG | 08/16/2007

Impact of tax reform legislation in 2008: earnings forecast for 2007 raised by € 8 million to € 110 million / lower tax rate in 2008 expected to be sustained in following years.

After the Federal President confirmed the corporate tax reform, it can be safely assumed that income tax rates will be lowered. Since RHÖN-KLINIKUM AG generates its revenue exclusively in Germany, it will reap disproportionately high benefits from the lowering of corporate tax rates from 25% now to 15% in future.

As a result of changes in corporate tax legislation to take place from 2008, the Board of Management of RHÖN-KLINIKUM AG expects its tax ratio to fall by approx. 8 percentage points to 19% from financial year 2008.

Already for financial year 2007, then, it will be necessary to revaluate the deferred tax items on the asset and liabilities sides of the balance sheet. Net existing tax liabilities will be reduced by approx. € 8 million with a correspondingly positive impact on earnings. The Board of Management of RHÖN-KLINIKUM AG therefore raises its earnings forecast for 2007 from € 102 million to € 110 million.