DGAP-News: Asklepios Kliniken GmbH: Popularity with

DGAP-News: Asklepios Kliniken GmbH / Key word(s): Half Year Results
Asklepios Kliniken GmbH: Popularity with patients ensures growth for
Asklepios Kliniken. Good half-yearly figures despite difficult
environment

29.08.2012 / 08:30

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Hamburg, 29 August 2012. The number of patients rose by 18.0% year-on-year
in the first half of 2012 to over 988,000; this was due in part to the
consolidated figures of MediClin AG, which had an impact for the first time
in the current half-yearly report. This led to an increase in revenue of
25.1% (3.7 percentage points of which were attributable to organic growth)
to EUR 1,487m (first half of 2011: EUR 1,188m). Despite ongoing pressure on
remuneration for hospitals due to discounts for additional services on the
income side and the noticeable effects of the current collective
bargaining, the operating result (EBITDAR) rose by 46.3% to EUR 155.5m,
meaning that the margin increased by 1.5 percentage points to 10.4%.

EBIT improved by EUR +14.7m to EUR 80.1m, corresponding to a margin of 5.4%
(first half of 2011: 5.5%). This reflects the relatively high level of
amortisation, depreciation and impairment in the same period of the
previous year due to increased write-downs on completed buildings and the
company acquisitions in the previous year. The consolidated net income of
EUR 55.6m for the first half of the year was around 26.9% higher than the
adjusted result for the same period of the previous year; the resulting
return on sales was 3.7%.

Dr Ulrich Wandschneider, CEO of the Group: 'The financial pressure placed
on the hospital and rehabilitation sector has increased further, as we
predicted towards the end of last year. This trend is set to continue in
the second half of the year.' Stephan Leonhard, Deputy Chairman of the
Group management and CFO, adds: 'On the expenses side, we have already felt
the effects of the recently concluded collective wage agreements in our
hospitals. We are facing a significant additional burden in the second half
of the year. At the same time, we are experiencing an ongoing price decline
on the income side.'

Net cash flow rose by +31.8% to EUR 95.7m compared with the first half of
the previous year, not least due to the increase in the operating result in
the corresponding period of the previous year.

Accounting and financing structures remain sound

The equity ratio as at the reporting date was 30.6%; including subordinated
capital, it was 36.8%. Cash and cash equivalents and undrawn lines of
credit of more than EUR 365m also provide the Group with sufficient
financial reserves for growth and capital expenditure.

Net debt amounted to EUR 664.8m at the end of the first half of 2012, of
which EUR 162.0m was subordinated capital. Excluding subordinated capital,
the debt ratio is therefore 2.0 times EBITDA (as of 31 December 2011: 1.5
times). The increase in the debt ratio is attributable to the financing of
acquisitions. Asklepios continues to enjoy extremely sound financing
structures.


Asklepios reports share in the voting rights of RhÃ¶n-Klinikum AG

Asklepios Kliniken informed the Federal Financial Supervisory Authority and
RhÃ¶n-Klinikum AG on 27 June of this year that Dr. groÃe Broermann and
Asklepios Kliniken had exceeded the thresholds of 3% and 5% of the voting
rights in RhÃ¶n-Klinikum AG. At that date, their share in the voting rights
amounted to 5.01%. As a family company, Asklepios is geared towards the
long term. In taking this step with regard to RhÃ¶n-Klinikum AG, it hopes to
keep all options open in terms of structure.


Outlook

Despite the above developments, Asklepios has maintained its outlook for
the rest of 2012 and expects to see a further increase in the operating
result compared with the previous year on the back of satisfactory organic
growth, among other factors. With regard to fiscal 2013, Asklepios finds
itself facing new challenges in closing the ever-widening gap between
income and costs despite the welcome developments in terms of income
(introduction of the orientation value). In order to help close this gap,
it will step up internal efforts to leverage cost and efficiency potential.


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The healthcare group Asklepios Kliniken GmbH is one of Germany's leading
private operators of hospitals and healthcare facilities. The clinic group
pursues a responsible and sustainable growth strategy that is geared
towards high quality and innovation. On this basis, Asklepios has achieved
dynamic growth since it was founded over 25 years ago. The Group currently
has 140 healthcare facilities nationwide and employs more than 44,000
staff. Over 1.7 million patients were treated at facilities run by the
Asklepios Group in 2011.

Contact for media representatives:

Thomas Pfaadt
Head of Corporate Finance & Investor Relations 
Tel.: +49 6174 90-1192 - Fax: +49 6174 90-1110
t.pfaadt@asklepios.com; www.asklepios.com/ir


End of Corporate News

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29.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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183244 29.08.2012
DGAP-News: Asklepios Kliniken GmbH: Popularity with patients ensures growth for Asklepios Kliniken. Good half-yearly figures despite difficult environment
