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RHÖN-KLINIKUM AG | 08/05/2010

RHÖN-KLINIKUM AG ends first half of 2010 with significant growth

  • More than 1 million patients treated in half-year period for the first time
  • Buoyant growth on half-year comparison: revenues € 1.26 billion (+10.7%) / net consolidated profit € 71.0 million (+7.9%)
  • EBITDA € 151.4 million (+7.8%) / EBIT € 98.3 million (+7.8%)
  • Forecast for full-year 2010 reaffirmed

Compared with H1 of last year, RHÖN-KLINIKUM AG generated significant growth in the first half of 2010:

A total of 1,023,845 patients were treated in the Group’s hospitals in the first six months of 2010. For the first time, then, more than 1 million patients put their trust in us during a half-year period. This translates into a rise of 13.4% compared with the same period last year. Revenues climbed by 10.7% to reach € 1.26 billion. Net consolidated profit also rose by 7.9% to reach € 71.0 million in the first half of 2010. EBITDA in the reporting period stood at € 151.4 million, exceeding the figure of the same period in 2009 by 7.8%. During the same period, EBIT grew by 7.8% to € 98.3 million.

"In the first half of 2010, more patients than ever before chose to be treated in our facilities. The trust that people are placing in our medical offerings confirms our integrated care concept. We are confident of being able to continue our previously mapped out growth path", emphasised Wolfgang Pföhler, chairman of the Board of Management of RHÖN-KLINIKUM AG.

Operating cash flow grew by 6.7% and reached € 124.3 million in the first six months of the current financial year.

After deducting minority interests in profit of € 2.9 million from net consolidated profit of the first half, EPS stands at € 0.49. Without the capital increase – based on the previous volume of shares in circulation – earnings per ordinary share would be 0.66 euros (previous year: 0.60 euros).

Outlook

"Given the outstanding first half, we are right on target and therefore confirm our forecast for financial year 2010 for revenues of € 2.6 billion and net consolidated profit of € 145 million within a range of plus/minus 5%", Pföhler said on publication of the H1 figures.

The chairman of the Board of Management assumes that the Group’s growth will stay right on course for 2010. The takeover of MEDIGREIF-Betriebsgesellschaft für Krankenhäuser und Integrative Gesundheitszentren, the raising of the interest in AMPER-Kliniken AG as well as the purchase of Salze Klinik I were referred by Pföhler as "growth steps" following the capital increase in 2009. "We are currently engaged in several acquisition procedures for inpatient and outpatient facilities".

"Continuing the growth course and ensuring viable healthcare in the future"

Looking ahead to 2011, Pföhler emphasised that the debate on the core elements of the healthcare reform was being followed closely. The aim of securing the future of our healthcare system was not something that could be reduced to financing and cost issues. Rather, quality and efficiency reserves had to be unlocked in the system.

"We are not able to gauge the economic impact of the healthcare reform right now. However, one thing is completely clear: we have demonstrated time and again that we understand our work as a hospital Group and have learned to cope with new framework conditions by introducing new measures to adjust to these.

Having efficient clinical processes across sectors was essential when it came to unlocking further quality and efficiency reserves because "efficiency and good medical care go together". Within its hospital network, RHÖN-KLINIKUM AG was committed to an integrated care network in which high-quality medical care will be offered over all care levels. "We are looking to forge ahead with the integration of outpatient-inpatient care and to build bridges in the interests of our patients", Pföhler said in conclusion.