Marseille-Kliniken AG

euro adhoc: Marseille-Kliniken AG
Annual Reports
5% increase in sales during the fiscal year 2003/2004 to € 200.1 million Fundings for the Rehabilitation division depress total result to DVFA (IAS) to € 7.5 million (previous year: € 8.5 million) 1.

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Marseille-Kliniken AG (Prime Standard, ISIN DE 0007783003, MKA) increased sales in the fiscal year 2003/04 by 5% to € 200,1  million (previous year: € 191.1 million). The earnings to DVFA/SG (HGB) amounted to € 7,5 million facing € 8,5 million in the previous year. The earnings per share came to € 0.62 (previous year: € 0.70). The earnings to DVFA/SG (IFRS) amounted to € 7.6 million in the period reported upon (previous year: € 8.2 million).

The explanation for the decline in results, mainly due to the cyclical downturn resulting in declining demand within the Rehabilitation division, which Marseille-Kliniken AG could not withdraw itself. The division concluded, closed with a capacity output of 76.6% (previous year: 83%) generated by the five psychosomatic units with a turnover of € 53.1 million (previous year: € 61.7 million) and a loss of € -4.0 million. (previous year € -1.7 million). The group-occupancy rate was down from 92,1% to 90,0%.  The negative operative results of the extraordinary depreciation reserve of corporate assets as well as the severance liability schemes in this region have caused the greatest fraction of the € -8,8 million (previous year: € 13.6 million) within the ordinary business activities.

Within the core Care division, which covers 76% of the total bed capacity, there have been further positive increased development in sales and results. The Marseille-Kliniken AG achieved a growth in this division of € 18.7 million in comparison to € 128.3 turnover during the previous year.  The earnings to DVFA/SG (HGB) have experienced an increase of € 1.3 million from € 10.2 million to € 11.5 million.  The utilization rate of 94.3% due to facility restructuring, was only insignificantly under the previous year ratio of 95.4%. The expansion of the Care division is continuously being upheld. A further facility was opened in the year reported upon, thus the total numbers of facilities within the group have risen from 57 to 58, whilst the number of beds rose from 7.261 to 7.512. Three further facilities, with a total of 550 beds, are in amidst of construction.   The Marseille-Kliniken AG regards the declining trend during the last fiscal year as a temporary development only and therefore continues its shareholder-friendly dividend policy. The Managing Board and the Supervisory Board will propose payment of an unchanged dividend of EUR 0.40 per share for fiscal 2003/04 to the Shareholders’ Meeting.

1.  Quarter 2004/2005

In the first quarter of the current fiscal year (July 1- September 30) the Group sales decreased by 0.5% to € 50.8 million (previous year:  € 51.3 million) due to the development within the Rehabilitation division.  

While sales in the Care division, which is the company’s core division, grew by € 1,5 million to € 37.2 million (previous year: € 35.7 million), sales in the Rehabilitation division declined by € 2.0 million to € 13.6 million (previous year: € 15.6 million).

Although corporate capacities decreased, in comparison to the year earlier quarter, from 91.4% to 90.1%, the total results, to DVFA/SG (IFRS), are stabile with € 3.2 million as in the year earlier period. In the 1. Quarter, the result per share was € 0.26 (previous year € 0.26) This outcome reflects the high yield capacity of the Care division, which has once again expanded its results by € 0.6 million to € 3.7 million.  The Rehabilitation field is still weakened by the situation relating to cyclical situation as well as the market adjustment processes.  The result of € – 0.8 million (previous year: € -0.1 million) remains negative.  

The growth strength and profitability of the core division Care compensates for the Rehabilitation division´s clearly weaker development

end of announcement                                euro adhoc 31.10.2004 19:22:19
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Further inquiry note: Marseille-Kliniken AG Axel Hölzer CEO Jakobstraße 79/80 10709 Berlin Tel.: 030-246 32-400 Fax.: 030-246 32-401

Hillermann-Consulting Christian Hillermann Investor Relations Eppendorfer Baum 5 20249 Hamburg Tel.: 040-414 069-13 Fax.: 040-414 069-14

Branche: Pharmaceuticals
ISIN:      DE0007783003
WKN:        778300
Index:    Prime Standard, CDAX, Classic All Share, Prime All Share
Börsen:  Berliner Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Hamburger Wertpapierbörse / official dealing
              Frankfurter Wertpapierbörse / official dealing



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