DGAP-News: Asklepios Grows Step in Q3 Quarter 2011. First full consolidation of MediClin AG

DGAP-News: Asklepios Kliniken GmbH / Key word(s): Quarter Results
Asklepios Grows Step in Q3 Quarter 2011. First full consolidation of
MediClin AG

30.11.2011 / 04:56

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Hamburg, November 30, 2011. Asklepios's majority takeover of MediClin AG in
September 2011 has helped the group report a sharp increase in third
quarter turnover, up 8.6 percent at EUR 1,832.6 million (Q3/2010: EUR
1,687.8 million). It also reported a strong rise in the number of patients
treated, up 8.4 percent to over 1,296,000.

'The MediClin AG takeover has positioned the Asklepios healthcare group
with a unique, nationwide hospital presence covering every level of
treatment,' says Group Management Board Chairman, Dr Ulrich Wandschneider.
'Our regional clusters enable us to generate value added for our patients
across the country in the framework of integrated treatment, improved care
structures and even better medical quality.'

Third quarter operating earnings before interest, taxation, depreciation,
amortization, rent and leasing expenditures (EBITDAR) came in at EUR 175.1
million, marginally lower than a year earlier (Q3/2010: EUR 175.6 million).
Regulatory, collective bargaining-related and inflationary pressures, which
could not be fully compensated for, resulted in a lower operating margin of
8.9 percent. Full-year net income at the end of the third quarter was EUR
19.7 million or, after adjusting for the special effect of the write-down
of the company's Greek holding, EUR 71.0 million (Q3/2010: EUR 84.8
million). The normalized return of sales was 3.9 percent or 1.1 percent
before adjustment.

'Asklepios successfully completed its next growth steps in the third
quarter, despite an array of challenging market fundamentals,' says Deputy
Group Management Board Chairman and CFO, Stephan Leonhard. 'The full
consolidation of MediClin AG is a milestone in our strategy for further
developing our integrated healthcare business model. Establishing regional
clusters with efficient market development and integrating processes and
services for the successive formation of shared services additionally
enables us to leverage synergies,' he continues.

In the third quarter of 2011, Asklepios generated an operating net cash
flow of EUR 160.1 million which was primarily used to repay financial
liabilities and for investments - especially in medical treatment and in
building up the group's stakeholdings in MediClin AG.

Solid financial structure and equity ratio despite special effects

Net debt at the end of the quarter was EUR 480.3 million, of which EUR
200.4 million was attributable to subordinated capital. Excluding the
subordinated capital, group indebtedness was 1.2 times EBITDA, compared to
0.9 times EBITDA per 31.12.2010.

The group's equity capital ratio was 28.8 percent, rising to 36.8 percent
if its subordinated capital is also taken into account. At the end of
September 2011, the group had liquid funds and untapped credit lines of
over EUR 618.8 million at its disposal for further growth and investment.

For the coming 2012 financial year, Asklepios is seeking to generate sales
of around EUR 3 billion. A large wave of privatizations is not expected in
this connection, rather healthy competition for the few, attractive
acquisition opportunities that arise. Asklepios's solid financing structure
will continue to offer it the flexibility needed to participate in
attractive bidding processes in the future as well.

With a market share of over 20 percent, the Asklepios Kliniken GmbH
healthcare group is one of the Top 3 private operators of hospitals and
healthcare facilities in Germany. The clinic group pursues a responsible,
sustainable growth strategy centered on quality and innovation. These are
the principles on which Asklepios has based its dynamic growth since it was
formed more than a quarter of a century ago. The group currently has 114
clinics and 20 other healthcare facilities with 26,700 beds and ca. 44,000
employees across Germany. Around 1.3 million patients were treated at
Asklepios establishments in the past nine months of the current financial
year.

Contact:
Asklepios GmbH
Group Investor Relations & Finance Division
Debusweg 3
D-61462 Königstein-Falkenstein
Tel.: +49 (6174) 90 1192 - Fax: +49 (6174) 90 1110
E-Mail: ir@asklepios.com  - www.asklepios.com


End of Corporate News

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148042 30.11.2011