• RHÖN-KLINIKUM AG reports +11.6 % growth in patient numbers
• Revenues increase by +8.4 % to reach EUR 2.12 billion
• Key personnel changes completed, focus on strategic concept

Patient numbers and revenues at the Group of RHÖN-KLINIKUM AG have steadily increased in the first three quarters of 2012. In the first nine months, 1,899,013 patients were treated, 11.6 per cent more than over the same period of the previous year. Revenues climbed by 8.4 per cent to reach EUR 2.12 billion. The pleasing organic growth in revenues was further helped by the consolidation of Dr. Horst Schmidt Kliniken (HSK) in Wiesbaden.

During the reporting period, net consolidated profit stood at EUR 70.2 million, and was thus -41.6 per cent below the level of the same period in 2011. Operating EBITDA declined over the same period by -11.7 per cent to EUR 215.3 million. These developments in the first nine months of the year have come in the wake of the takeover offer by Fresenius, regulatory and wage burdens as well as delays in major restructuring projects. The pre-year figures were moreover positively influenced by one-off, non-operative extraordinary effects. EBIT declined in the first three quarters of 2012 by -27.2 per cent to € 111.4 million.

After deducting minority interests in profit of € 1.9 million from net consolidated profit of the first nine months, earnings per share (EPS) stands at € 0.49. 
The situation at Gießen and Marburg University Hospital (UKGM) has further intensified over the past months with the result that the outlook in this area for 2012 has to be revised downwards by roughly EUR 15 million, as the Company already informed yesterday. After re-assessing the situation at UKGM, and with the backing of a consensus-based restructuring plan prepared by a renowned corporate consultancy firm, the Board of Management of the Company is now convinced that the prospects for the successful business and management restructuring of the university hospital are promising.

At the level of the Group as a whole, additional burdens in the single-digit million range have arisen in the second half of the year, with the result that these, coupled with the burdens from UKGM, will feed through to full-year operating earnings (EBITDA) to the tune of roughly EUR 20 million. For financial year 2012, RHÖN-KLINIKUM AG thus expects revenues of EUR 2.85 billion, which may fluctuate within a range of plus or minus 2.5 per cent. This revenue target is accompanied by a forecast for EBITDA of EUR 295 million and for net consolidated profit of EUR 95 million, in each case subject to a variation of +/- 5 per cent.

“Operating efficiency and economic viability are the very basis for the success of RHÖN-KLINIKUM AG – the basis for continuing this success story has been provided”, said Wolfgang Pföhler, chairman of the Board of Management of RHÖN-KLINIKUM AG. “Rising patient numbers and revenues have also been achieved thanks to our steadfast efforts at reviewing and optimising our processes and strategies. The Company’s long-term objective of establishing a care offering at the national level continues to be the focus of our efforts. The Company will continue to work towards this objective with various strategy projects”.

Outlook

The German legislator has taken various measures and provisions introducing a new financing basis for the hospital area. The additional financing due to the high collective wage deals will benefit hospitals already this year, albeit only partially and, on the whole, inadequately. The introduction of a pro rated orientation value for rising prices from 2013 is an important step towards greater transparency in the actual cost trend at the hospitals. Nonetheless, the orientation value published in September 2012 for the first time, at 2 per cent, represents only a small price rise for hospitals.

Yesterday’s decision by the Supervisory Board of RHÖN-KLINIKUM AG to appoint Dr. med. Dr. jur. Martin Siebert as the future chairman of the Board of Management brings the round of key personnel decision of recent weeks to a conclusion, with the result that the Company can now press ahead further with strategic work on realising an innovative, national care offering as announced in early October and now begun under the lead of the Board of Management.