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RHÖN-KLINIKUM AG | 11/07/2013

Interim Report on Q3: Continued Growth in Patient Numbers and Revenue – Sale of 43 Hospitals Proceeding on Schedule

 

  • Patient numbers increase 5.6% year-on-year on a nine-month Basis
  • Revenue grows 6.3% to €2.26 billion
  • EBITDA goes up by 3.3%
  • Transaction on schedule – transfer of companies expected in the planned volume by the end of the year

In the first three quarters of 2013, patient numbers and revenue in RHÖN-KLINIKUM AG’s Group continued to rise year-on-year. Including the Wiesbaden-based Dr. Horst Schmidt Kliniken, first consolidated in May 2012, a total of 2,005,206 patients were treated in the first nine months, 5.6% more than in the same period of the previous year. Revenue increased by 6.3% to €2.26 billion.

In the reporting period, EBITDA climbed to €223 million or by 3.3% compared to the previous year’s figure. Consolidated net profit was €68 million in the reporting period, 3.0% lower than in the same period of 2012. However, the profit items for both the previous year’s figures and the current financial year are affected by extraordinary effects: In 2012, the negative effects mainly related to the Fresenius takeover bid and setbacks in major restructuring projects. In 2013, the extraordinary effects primarily relate to consulting costs and extraordinary tax items recognized as expense in connection with the planned sale of 43 hospitals to Fresenius/Helios. After deducting non-controlling interests of €2.5 million from the consolidated net profit of the first nine months, earnings per share amount to €0.48.

The announced sale of a portfolio of 43 hospitals to Fresenius/Helios is proceeding on schedule. “We are confident that a package of hospitals will be transferred by the end of the year with an enterprise value of at least 70% of the agreed transaction volume,” said CFO Jens-Peter Neumann.

Outlook:

Due to the effects of the ongoing transaction with Fresenius/Helios on the Group’s balance sheet and profit structure, RHÖN-KLINIKUM AG is still not publishing a quantitative outlook for the current financial year. In the medium term, the company expects organic growth rates of between 3.5% and 4.5% a year for the new hospital group. In addition, an EBITDA margin of 14% seems realistically achievable by 2015.

“With the planned sale of 43 hospitals to Fresenius/Helios and the accompanying focus on top-quality full medical care, we are opening a new chapter in the history of our company. With the new portfolio of ten selected hospitals, we will not only shape our own future confidently and assertively, but also provide major impetus for the development of in-patient healthcare in Germany,” said Dr. Dr. Martin Siebert, Chairman of the Board of Management.