DGAP-News: Asklepios Kliniken GmbH: Asklepios showed

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Aug 28, 2014 at 12:00 PM

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

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 --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 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, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 284531 28.08.2014

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