DGAP-News: Asklepios Kliniken GmbH: Asklepios showed revenue growth of 4.6% in the first half of 2014

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| Source: EQS Group AG
DGAP-News: Asklepios Kliniken GmbH / Key word(s): Half Year Results
Asklepios Kliniken GmbH: Asklepios showed revenue growth of 4.6% in
the first half of 2014

28.08.2014 / 17:41

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Hamburg, 28 August 2014. Asklepios documented a rise in the number of
patients by +3.4 per cent from 1,060,348 to 1,096,170.

The increase in patient numbers had a positive impact on revenue and
earnings in the first half of 2014 compared to the previous year. Revenue
grew from EUR 1,444.7 million by 4.6 per cent to EUR 1,510.8 million.

"The rise in patient numbers and the increase in the number of beds in the
first half of the year are also a result of the Asklepios Group's
guidelines based on quality, innovation and social responsibility,
established over many years," underlined Dr. Ulrich Wandschneider, CEO of
the Group Board of Management of the Asklepios Kliniken GmbH.

Revenue growth in the first half of 2014 translated into positive
contribution margins thanks to a below-average increase in key cost
positions. This effect also positively impacted earnings. Besides the
stable personnel development, active cost management also had an effect on
earnings. In total, EBITDA improved 25.9 per cent from EUR 120.4 million to
EUR 151.6 million in the first half of 2014. At EBITDA level an operating
margin of 10.0 per cent was achieved (previous year: 8.3 per cent). The net
profit margin (after taxes) improved from 3.1 per cent to 4.7 per cent year
on year.


Financial and balance sheet structures improve again

"Earnings saw a positive development thanks to our optimised cost
management and other factors. Combined with our active working capital
management, operating cash flow increased substantially compared to the
previous year," underpinned Stephan Leonhard, Deputy CEO of the Group Board
of Management and CFO. The operating cash flow of the Group increased
sharply to EUR 147.3 million compared to EUR 82.2 million in the previous
year.

Renewed, sustainable and high capital expenditure as well as debt repayment
was able to be completely financed from the strong operating cash flow.

The Group balance sheet total increased from EUR 2,755.0 million the year
before to EUR 2,836.7 million. The Group equity grew by EUR 41.9 million to
EUR 968.2 million, representing an increased equity ratio of 34.1 per cent
(33.6 percent at the balance sheet date 31 Dec 2013).

Net debt of the Group, including reduced subordinated capital of EUR 47.0
million, lowered by 11.7 per cent to EUR 528.4 million at the balance sheet
date 30 June 2014 (previous year: EUR 598.7 million). The debt to equity
ratio therefore sank to 1.7-times EBITDA (previous year: 2.1-times). Cash
and cash equivalents in the amount of EUR 238.1 million and undrawn credit
lines in the amount of EUR 462.5 million added up to liquidity reserves of
EUR 700.6 million at the balance sheet date 30 June 2014, offering
sufficient financial head room for further growth of the Group.


Positive Outlook

Asklepios expects further organic sales growth of 2 to 4 per cent in its
outlook for fiscal year 2014 and a slight sustainable improvement in the
operating result compared to the previous year. In the first half of 2014
Asklepios was clearly in the upper range of these targets.


About Asklepios:
Asklepios is a leading private operator of hospitals and healthcare
facilities in Germany. The Group pursues a responsible, sustainable growth
strategy that is geared towards high quality and innovative strength. With
this approach, Asklepios has enjoyed dynamic development since its
formation more than 30 years ago. At present, the Group has around 150
healthcare facilities and employs more than 45,000 people throughout
Germany. In the previous financial year, 2013, around 2.2 million patients
were treated in Asklepios Group facilities.


Contact:
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



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28.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de

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