Marseille-Kliniken AG

EANS-Adhoc: Marseille-Kliniken AG / - Increase in turnover in the first three quarters of 2008/2009 to EUR 174.3 million - Turnaround in the start-up costs of the expansion facilities completed - No negative effects from the economic depression

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quarterly report

08.05.2009

Berlin, 8th May 2009. Marseille-Kliniken AG (Prime Standard, ISIN DE 0007783003, MKA) was able to increase its operating turnover in the first three months of the financial year 2008/2009 (1st July 2008 - 31st March 2009) by 2.1 % to EUR 174.3 million (previous year: EUR 170.6 million). The group net income after minority interest decreased from EUR 10.4 million to EUR -3.0 million, whereas special items of EUR 11.9 million were included in the previous year´s value. With this, the result per share decreased to EUR -0.24, from EUR 0.86 the previous year. The EBIT/IFRS amounted to EUR 1.4 million, compared to EUR 12.6 million including special items the previous year. The EBITDAR/IFRS amounted to EUR 43.1 million in comparison with EUR 51.0 million the previous year. The balanced equity decreased from EUR 82.2 to EUR 76.0 million. The equity ratio increased from 32.6 % to 33.7 %, while the net debt was reduced from EUR 69.8 million in the previous year to EUR 68.7 million for the current year.

The decline in the group returns to EUR -3.0 million is based largely on an extraordinary income of EUR 6.9 million in the previous year from the sale of property as well as from a latent tax rebate claim of EUR 4.9 million. Minus these special items the comparable return in the previous year, including the start-up costs for new facilities, amounted to EUR -1.5 million. In comparison with the previous year, increased expenditure on energy and maintenance as well as ongoing amortisation on intangible assets had a negative impact in this reporting period.

The group result, adjusted in accordance with DVFA/SG (IFRS), decreased to EUR 5.5 million from EUR 6.7 million in the previous year. This corresponds to EUR 0.46 per share for this reporting period in comparison to EUR 0.55 per share in the previous year. In particular, increased costs for energy and maintenance as well as ongoing amortisation on intangible assets were responsible for this. The adjusted EBITDAR of EUR 45.1 million differed only slightly from the previous year´s figure of EUR 44.8 million. The adjusted EBIT amounted to EUR 9.0 million in comparison with EUR 11.6 million the previous year. The capacity utilisation was able to be maintained at a consistently high level with the increased capacity of 186 beds. The capacity utilisation rate maintained for the group´s 9,085 beds was 92.5 % compared with the previous year´s figure of 92.5 % of 8,899 beds. The after-tax adjustments of EUR 7.2 million (previous year: EUR 8.0 million) are based primarily on start-up costs for seven care facilities that currently have 728 beds (8.0 % of the group´s capacity) as well as four sites currently not in use and the development of the acute care section which has been started in the middle of 2008. The occupancy rate for the expansion facilities increased in the course of the financial year from 47 % in the first quarter to 58 % in the third quarter. In April the occupancy rate was 61.5 %.

The capacity in the care area increased from 7,616 beds to 7,756 beds on the reporting day. Turnover in this segment grew from EUR 132.7 million in the previous year to EUR 134.5 million for this reporting period. The same costs that negatively affected the group´s returns also had an adverse effect on the result according to DVFA/SG (IFRS) of EUR 4.4 million (previous year: EUR 5.9 million). The capacity utilisation rate in the care section amounted to 92.4 % (in comparison with 93.4 % for the previous year) with the addition of the Düsseldorf and Potsdam sites to the stock of facilities.

In the rehabilitative care section, capacity was increased from 1,283 beds to 1,329 beds. Turnover increased from EUR 37.9 million in the previous year to EUR 39.8 million in the current reporting period. The result according to DVFA/SG (IFRS) increased by EUR 0.8 million to EUR 1.1 million, confirming an already long-term trend. The capacity utilisation rate in the sector increased from 89.2 % to 92.7 %.

Marseille-Kliniken AG continues to show resistance to the current economic depression. The current economic crisis is therefore having no direct consequences for the company. On the contrary, the management are expecting a continuation in growth given the high level of predictability in business development. In the area of care, a further increase in occupancy along with a simultaneous drop in starting losses in the fourth quarter is being anticipated. In addition, first savings should be made in the current financial year through cost-reducing measures of EUR 3.0 million which will achieve full effect in the next financial year. In the area of rehabilitative car, positive results are expected for the whole financial year given the stable capacity utilisation level of over 90 %.

Also in the expansion facilities the currently high level of competition in the care sector is becoming noticeable. As a result, the increase in occupancy originally planned for the financial year will not be realised at the anticipated speed. In addition, since the facilities in Oberhausen and Waldkirch are no longer going into operation in this financial year, an adjustment of the turnover prognosis to between EUR 236.0 million and EUR 238.0 million is necessary. As a result, the EBIT returns of 7 % forecast for the financial year 2008/2009 will not be reached. Instead, the board of directors anticipates an EBIT of EUR 5.0 million. The EBIT after adjustments of costs of expansion and idleness will aggregate to approximately EUR 13.0 Mio. The company expects a positive after-tax result for the whole financial year. After the completion of the expansion activities the company assumes a sustained EBIT return of 7 % for the next financial year.

For more detailed information, please visit the website www.marseille-kliniken.com to read the quarterly report.

End of ad hoc release

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ots Originaltext: Marseille-Kliniken AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Marseille-Kliniken AG
Axel Hölzer
CEO
Alte Jakobstraße 79/80
10709 Berlin
Germany
Tel.: +49 30 / 246 32-400
Fax: +49 30 / 246 32-401
www.marseille-kliniken.com

Hillermann Consulting
Christian Hillermann
Investor Relations for Marseille-Kliniken AG
Poststraße 14/16
20354 Hamburg
Germany
Tel.: +49 40 / 320 279 10
Fax: +49 40 / 320 279 114
www.hillermann-consulting.de

Branche: Pharmaceuticals
ISIN:      DE0007783003
WKN:        778300
Index:    CDAX, Classic All Share, Prime All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse Hamburg / regulated dealing



Weitere Meldungen: Marseille-Kliniken AG

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