Results for financial year 2011

• 11.5 % increase in patient treatments is once again proof of the trust in the high quality of medical care offering.
• Growth in revenues of 3.1 % and in earnings of 11.0 % despite tougher framework conditions demonstrate the sustainability of growth course.
• Process of integrating Dr. Horst Schmidt Kliniken (HSK) to begin already this month.

Q1 2012 results

• Rise in patient numbers by 30,264 cases or 5.2 % to a total of 609,896 cases underscores our good start into the new financial year.
• Revenues climb 5.4 % to reach € 682.3 million.
• Net consolidated profit falls by € 3.9 million or 10.3 % to € 34.1 million.
• EBIT decreases by € 2.1 million or 4.2 % to € 48.5 million.
• EBITDA rises by € 3.0 million or 3.8 % to reach € 81.8 million.

Forecast for full year confirmed

At its annual Results Press Conference, the Board of Management of RHÖN-KLINIKUM AG confirmed the trend figures already published in February. “The past financial year was an extraordinarily positive one in which we once again witnessed a smart rise in our patient numbers. Also in 2011, we demonstrated our reliability, stability and soundness amid a difficult environment for the sector”, said Wolfgang Pföhler, chairman of the Board of Management of RHÖN-KLINIKUM AG. “We are proud of the achievement of our employees and facilities. Once more, the facilities within the network of RHÖN-KLINIKUM AG have shown that they achieve their earnings targets even amid a difficult environment by raising service volumes and realising efficiency reserves”, Pföhler said. In this regard, the path taken for the development of the Company from classic operator of hospitals to an integrated healthcare provider had once again proven itself. The network established across care boundaries, which in 2011 was steadily expanded, was now paying off. At the same time the Company maintained its policy of investing the lion’s share of its corporate profit in hospitals and medical care centres (MVZs). 

Results for financial year 2011

In 2011, a total of nearly 2.3 million patients were treated in the Group’s facilities. During the same period, revenues rose to € 2.63 billion. Net consolidated profit increased operatively in line with expectations by 11.0 % to € 161.1 million. Compared with last year, operating EBITDA was raised by 9.9 % to € 337.7 million and EBIT by 7.7 % to € 213.2 million.

“During the past year, over 2.27 million patients put their trust in us. The figures are the result of strong organic growth and demonstrate in an impressive manner our capacity to achieve organic growth”, Pföhler said.

On 13.06.12, the Board of Management and the Supervisory Board will propose a dividend of € 0.45 (previous year: € 0.37) per ordinary non-par share with dividend entitlement (DE 0007042301; 138,232,000 non-par shares).

Jobs in 2011
As at 31 December 2011, RHÖN-KLINIKUM AG employed a total of 39,325 people in ten federal states. That is once again more than in the previous year. In many regions, the Group’s facilities have come to be amongst the largest employers.

Q1 2012 results
In the first three months, the Group treated 609,896 patients (+ 5.2 %). Revenues rose to € 682.3 million (+5.4 %).

Net consolidated profit fell by 10.3 % to € 34.1 million. EBITDA climbed to € 81.8 million (+ 3.8 %). EBIT declined to € 48.5 million, thus translating into a decline of 4.2% versus the previous year’s level.

As at 31 March 2012, the Group had 39,380 employees.

In the first quarter, the first acquisition was already reported. At the beginning of February the City of Wiesbaden decided in favour of RHÖN-KLINIKUM AG as the partner for Dr. Horst Schmidt Kliniken, a maximum-care hospital in Wiesbaden. This investment in the largest hospital of the Federal State Capital falls right in line with the further development of our hospital network into a generalised healthcare delivery network.

Outlook for 2012 

The Company confirms its forecast for full-year 2012. For 2012 including the targeted revenue and earnings contributions of Dr. Horst Schmidt Kliniken (HSK), RHÖN-KLINIKUM AG expects revenues of EUR 2.85 billion which may fluctuate within a range of plus or minus 2.5%. This revenue target is accompanied by a forecast for EBITDA of EUR 350 million and for net consolidated profit of EUR 145 million – in each case influenced by a negative earnings contribution from the HSK consolidation and subject to a fluctuation range of plus or minus 5%.

“The framework conditions in terms of the possibility of generating further revenues remain challenging also in the current financial year. For this reason we will steadfastly continue to pursue measures to raise efficiency and forge ahead with restructuring also in 2012”, said the Board of Management chairman. Given the financial framework conditions, more market shake-ups within the hospital sector had to be expected in 2012 with closures, takeovers or mergers. Currently, RHÖN-KLINIKUM AG was in talks relating to six specific projects involving a total of some 3,000 beds.

“With the acquisition of Dr. Horst Schmidt Kliniken (HSK) made already in February, we want to expand the reach of our care offering at a high level and establish a comprehensive and graduated care concept across care boundaries at the Wiesbaden site”, Pföhler said. For this purpose, the basis in terms of space requirements and organisational measures was being created through extensive building modernisation, including high-quality devices and medical technology.

“With the establishment of our medical network across all care levels, we have already succeeded in laying the foundation for the required structural adjustments. We will continue steadfastly on this path, since are firmly convinced that in future only strong networks will be able to ensure that good medical care is provided for everyone. Together with our partners, we are striving to establish a full-coverage healthcare network with integrated outpatient and inpatient structures”, Pföhler said. Without a strong capacity to invest, the future of many hospitals was in jeopardy.

“Thanks to its financing strength, RHÖN-KLINIKUM AG is able to invest in high-quality medical care quickly and extensively. It is only when a hospital makes a profit that it can reinvest such funds in equipment and medical care. Only in this way can medical innovation be brought about and optimum care ensured for the population. That is why we are well prepared to assume even more responsibility in medical care and to continue our growth course,” said the Board of Management chairman.