DGAP-News: Asklepios reports sales increase with its final figures for 2011. Working in cooperation with MediClin should result in local advantages
(firmenpresse) - DGAP-News: Asklepios Kliniken GmbH / Key word(s): Final Results
Asklepios reports sales increase with its final figures for 2011.
Working in cooperation with MediClin should result in local advantages
02.05.2012 / 13:34
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Hamburg, 2nd May 2012. After a successful in 2011, the Asklepios Group
closed the business year, maintaining its position as one of the leading
hospital concerns in Germany. Thereby, the share in MediClin public limited
company was increased to over 52 percent. Supported by high organic growth,
the group recorded a patient increase of 9.1 percent to more than 1.7m
patients. Correspondingly, sales increased by twelve percent to 2,577m Euro
(previous year: 2,280m Euro).
Due to the difficult macroeconomic environment, the operating result based
on EBITDAR is only slightly above the level of the previous year. Stephan
Leonhard, Vice Chairman of Corporate Management and CFO said: 'The
Asklepios Group made good progress in the past fiscal year and reached a
record high in sales value in the long business history of the group. One
third of the growth resulted from the increase in the demand for our health
services and two thirds from the fully consolidated MediClin AG since 1st
September 2011.' Dr. Ulrich Wandschneider, Chairman of Concern Management,
adds: 'Asklepios was able to continuously develop in all areas,
particularly in the areas of quality, personnel, efficiency, IT and
environmental sustainability.'
Despite the positive sales development, earnings before interest, taxes,
depreciation and leasing costs (EBITDAR) only increased by 1.0 percent to
243.1m Euro (previous year: 240,6m Euro). The corresponding operating
margin declined by 1.1 percentage points to 9.5 percent. The dynamic level
of development of earnings in previous years could not be maintained due to
higher costs.
Asklepios Clinics Hamburg
The positive development of the Asklepios Clinics Hamburg, Europe's largest
clinic cluster, continued in the previous fiscal year. Thereby new 'best'
records were set for organic growth (+7.2 percent) as well as margin
development (EBITDAR margin: 10.9 percent). 'With the successful turnaround
of our clinics in Hamburg, Asklepios has underlined its competency to
achieve synergies within the group thereby enabling sustainable increases
in profitability,' explains Stephan Leonhard. Earnings before interest and
taxes (EBIT) amounted to 135,4m Euro at a margin of 5.3 percent (previous
year: 159,9m Euro, or. 7.0 percent respectively.
The Asklepios Clinics consolidated net income declined in the fiscal year
2011 to 34,5m Euro (previous year: 88,4m Euro). Net income, adjusted by the
non-cash effect of the write-off of our share in Greece, amounts to 85,5m
Euro. 'The write-off was done before the backdrop of the significant
deterioration of the country-related risks, as we want to maintain our
share in the Clinic Group Athens Medical Centre,' explains Stephan
Leonhard. The underlying return on sales amounted to 1.3 percent, the
adjusted return on sales amounted to 3.4 percent.
Working in cooperation with MediClin AG creates growth potential
'In the concern group, consisting of Asklepios Clinics Hamburg and
MediClin, both positioned throughout Germany, local advantages will be
achieved through regional cooperation,'says Dr. Ulrich Wandschneider.
Solid balance sheet and financing structure, equity ratio 31.1 percent
The Asklepios Group generated a net cash flow of 201m Euro in 2011; a
significant part thereof will be used for investments in stock as well as
dept repayments. At the close of the fiscal year 2011, the net debt
amounted to 499m Euro, of which 182m Euro was allotted to subordinate
capital. The leverage ratio regardless of subordinate capital therefore
lies at 1.5 times EBITDA. At the end of the fiscal year 2011, the Group
continued to maintain a strong financial structure with an equity ratio of
31.1 percent. The Asklepios Group had liquid assets in the amount of 183m
Euro, as well as unused credit lines of more than 378m Euro available to
support further growth.
The healthcare group Asklepios Clinics GmbH ranks among the three largest
private operators of hospitals and healthcare facilities in Germany. The
clinic group follows a sustainable growth strategy based on responsibility,
high quality and innovative strength. Based on this, Asklepios has been
rewarded with dynamic growth since its founding more than 25 years ago.
Currently the concern has more than 140 healthcare facilities and employs
more than 44,000 people throughout Germany. During the last business year
2011, more than 1.7m patients were treated at Asklepios Group facilities
Contact
Thomas Pfaadt
Head of Corporate Finance&Investor Relations
Tel.: +49 6174 90-1192 - Fax: +49 6174 90-1110
t.pfaadt(at)asklepios.com; www.asklepios.com/ir
www.asklepios.com; www.facebook.de/asklepioskliniken; www.asklepios.com/ir
End of Corporate News
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