RHÖN-KLINIKUM AG | 02/14/2007

Preliminary trend figures for 2006

  • Strong growth in revenue by 36.6% to € 1.934 billion
  • Own earnings forecast exceeded – net consolidated profit € 108.7 million
  • Group’s hospitals treat 1.394 million patients 

The preliminary trend figures for financial year 2006 published today by RHÖN-KLINIKUM Group, Germany’s first listed hospital group with headquarters in the Rhön, confirm the expected strong growth in revenue. 

The 36.6% jump in revenues to € 1.934 billion (previous year: € 1.416 billion) stems primarily from the consolidation of Universitätsklinikum Gießen/Marburg from 1 February 2006. EBITDA* rose 6.8% to reach € 221.0 million (previous year: € 206.9 million). Operating cash flow stood at € 183.9 million, 18.2% above the previous year’s level (€ 155.6 million). EBIT** posted a 4.1% gain to reach € 145.9 million (previous year: € 140.1 million). 

2006 net consolidated profit – before minorities – rose 23.1% to reach € 108.7 million (previous year: € 88.3 million), exceeding the Management’s own expectations. Already in December 2006, the Group’s Management had raised its own earnings forecast to € 106 million to reflect the revision of Section 37 (5) German Corporation Tax Act and the resulting one-off tax effect. The earnings-per-share figure was € 2.02 (previous year: € 1.61). 

During the year ended 31 December 2006, the Group's hospitals treated a total of 1,394,035 patients (previous year: 949,376), of which 526,226 (previous year: 410,585) in the acute inpatient, 858,708 (previous year: 529,860) in the outpatient and 9,101 (previous year: 8,931) in the rehab and other areas.

Financial year 2006 saw the first-time consolidation of the newly acquired facilities Heinz-Kalk-Krankenhaus Bad Kissingen, Frankenwaldklinik in Kronach (from January 2006) and Universitätsklinikum Gießen/Marburg (from February 2006). At the end of financial year 2006 the 45 consolidated hospitals owned by RHÖN-KLINIKUM AG as at 31 December 2006 thus had over 14,703 beds/places (previous year: 12,217).

The newly acquired facilities consolidated for the first time in 2006 contributed € 418.9 million to revenues. These facilities burdened EBITDA by -€ 4.5 million, EBIT by -€ 9.4 million, and net consolidated profit by -€ 5.9 million. Of this, Universitätsklinikum Gießen und Marburg accounted for revenues of € 378.2 million as well as a loss of € 7.5 million, with the two other hospitals contributing € 1.6 million to net consolidated profit. 

“With our proven dual strategy of ‘acquisitions with integration of facilities’, we will continue to generate viable and profitable growth – not quick revenue growth at all costs”, said Wolfgang Pföhler, chairman of the Board of Management of RHÖN-KLINIKUM AG. “The fundamental principle of our business activity is our generalised healthcare delivery approach: in all regions throughout Germany we treat all patients, whether covered by statutory healthcare plans or private healthcare funds, and in all clinical areas – from emergency patients to just about any conceivable elective operations – by means of a sustainable and efficient organisation of service volumes.”

For financial year 2007 the Group’s Management – without taking account of additional acquisitions and/or extraordinary factors – is forecasting revenues of € 2.0 billion and net consolidated profit of € 100.0 million


* Earnings before depreciation/amortisation, interest and income tax

** Earnings before interest and income tax = operating result