DGAP-News: Asklepios Clinics reporting good figures for the first nine months: Quality of medical outcomes and profit results substantially increased

DGAP-News: Asklepios Kliniken GmbH / Key word(s): Quarter Results
Asklepios Clinics reporting good figures for the first nine months:
Quality of medical outcomes and profit results substantially increased

29.11.2012 / 07:57

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Hamburg, 29 November 2012. The third quarter of 2012 has shown an increase
of 17.5% in patient numbers, to more than 1,488,000 patients, in comparison
to last year. Turnover increased by 21.6% (of which 2.9% were attributable
to organic growth) to EUR 2,228m (Q3/2011:  EUR 1,833m), for the first time
showing the year-round impact of the newly acquired MediClin AG clinics.
Despite the nationwide trend of increasing remuneration, as well as the
sustained pressure of the cost of additional hospital services, the
operating result (EBITDAR) has risen by 34.9% to now more than EUR 235.3m,
representing a margin increase of 1.1 percentage points to the current
10.6%.

EBIT improved, compared to last year, by 15.4% to EUR 121.3m, representing
a margin of 5.4% (Q3/2011: 5.7%). This reflects the relatively higher rate
of depreciation compared to the same period last year due to increased
write-downs from completed buildings and acquisitions in the previous year.
The consolidated net earnings of the third quarter of EUR 81.2m are about
15.7% higher than the adjusted result for the same period last year; the
resulting return on sales stands at 3.6%.

Stephan Leonhard, Deputy Chairman of the Group management and CFO comments:
'The increases in remuneration this year is weighing heavily on income
results. Though we are awaiting compensation within the year in the form of
government staffing subsidies (so-called tariff rates) for the increased
costs of staffing incurred, it is not expected to cover all the additional
costs.'

The net cash flow has increased by 13.1% to EUR 181.0m since last year, not
least due to the increase in the operating result in the corresponding
period of the previous year

Solid balance- and financing structure remain

The equity ratio at the time of reporting was 31.2%, including subordinated
capital - 35.8%. Liquid assets and unused lines of credit of more than EUR
351m offer the Group additional sufficient financial reserves for growth
and investment.

At the end of the third quarter in 2012, the net debt amounted to EUR
625.0m, of which EUR 122.2m was drawn from subordinated capital. Without
factoring in subordinated capital, the degree of debt is two times the
EBITDA (as of 31.12.2011: 1.5 times the EBITDA). Asklepios has managed to
sustain its strength of internal financing and maintains its superbly solid
financing structure.

Outlook

Compared to last year, Asklepios is - despite the difficult condition of
the market - expected to report an increase in the operating result for the
current fiscal year (2012). The effect of measures introduced, for example
synergism of cooperation (e.g. buying) and establishing of networks, will
prove noticeably effective in the course of this fiscal year.

For the following year, 2013, the challenges in the hospital industry with
regards to closing the increasing gap between revenue and costs development
will remain; we intend to combat these by continuously improving our
internal processes to alleviate costs and extract potential for efficiency
throughout the Group.

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:

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

Contact:
Rudi Schmidt
Executive Vice President Corporate Communications & Marketing
presse@asklepios.com
+49 40 18 18-82 66 36


End of Corporate News

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29.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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195074 29.11.2012