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Marseille-Kliniken AG

EANS-Adhoc: - Development of earnings in financial year 2008/2009 falls short of expectations due to one-time effects - Occupancy rate remains at high level of 92.5 % - First quarter of 2009/2010 shows extremely positive development in turnover and ...

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
annual report
30.10.2009
Berlin, 30 October 2009. Marseille-Kliniken AG (Prime Standard, ISIN 
DE 0007783003, MKA) was able to increase operating turnover as 
planned by 3.2 % to EUR 235.5 million (previous year: EUR 228.1 
million) according to audited figures for the financial year 
2008/2009 (1 July 2008 - 30 June 2009). However, Group net income 
after minority interest decreased from EUR 13.7 million in the 
previous year to EUR -13.5 million. This correlates to earnings per 
share of EUR -1.12 against EUR 1.13 last year. EBIT/IFRS fell 
considerably short of the company´s expectations, amounting to EUR 
-6.8 million after being reported at EUR 22.5 million including 
one-time effects in the previous year. EBITDAR was down from EUR 73.8
million to EUR 50.6 million year-on-year. Equity fell from EUR 82.5 
million to EUR 62.6 million, which represents an equity ratio of 27.6
% after the previous year´s 34.2 %. Net debt amounted to EUR 74.3 
million against EUR 68.1 million in the previous financial year.
However, comparing current earnings figures with those of the 
previous financial year only has limited significance. In the 
previous year, the Group generated an extraordinary gain from the 
sale of property worth EUR 19.6 million as well as from the reversal 
of deferred tax obligations recorded in profit or loss amounting to 
EUR 4.9 million as a result of the corporate tax reform act 2008. 
This year´s earnings were also negatively hit to the tune of EUR 8.6 
million from one-off write-downs on fixed assets and receivables (EUR
4.1 million), process costs (EUR 1.1 million), tax audits (EUR 2.0 
million) and additional non-recurring items (EUR 1.4 million).
In the financial year 2008/2009, earnings in operations were also 
impacted considerably stronger than in the previous year. This mainly
stemmed beside start up costs for expansion facilities from increased
expenses for energy (EUR 1.8 million) and personnel recruitment as 
well as the valuation of pension provisions result (in total EUR 2.7 
million).
Adjusted Group net income according to DVFA/SG (IFRS) amounted to EUR
1.6 million in the period under review (previous year: EUR 11.1 
million). Adjusted EBITDAR totalled EUR 55.2 million compared to EUR 
62.6 million previously, while adjusted EBIT amounted to EUR 6.8 
million against EUR 17.8 million in the previous year.
In spite of capacity increasing by 186 to a total of 9,085 beds, the 
occupancy rate at Group level remains at a high level of 92.5 % 
(previous year: 92.4 %). Due to the decline in earnings, at the 
Annual General Meeting on 18 December 2009 in Berlin the Management 
Board and Supervisory Board will propose to carry forward net profit 
to a new account and waive a dividend payment for the financial year 
2008/2009.
Marseille-Kliniken AG is publishing the complete financial report for
the financial year 2008/2009 today on its website at 
www.marseille-kliniken.de.
The first quarter of 2009/2010 is developing positively in line with 
expectations. As a result, the occupancy rate of bed capacities 
increased to 92.8 % (previous year: 92.6 %). This enabled us to 
increase turnover in the period under review by 6.4 % from EUR 58.0 
million to EUR 61.7 million. The EBIT figure improved by EUR 0.4 
million to EUR 3.9 million. This was due to the positive impact of 
reduced start up losses from expansion facilities as well as cost 
cutting measures taken for personnel and non-personnel costs. 
Adjusted EBIT according to DVFA amounts to EUR 5.2 million and is EUR
0.6 million under the figure for the previous year´s period. The EBT 
figure improved by EUR 0.4 million to EUR 2.9 million. Detailed 
information can be found in the report on the first quarter that will
be published on the company website on 10 November 2009.
End of ad hoc release

Further inquiry note:

Marseille-Kliniken AG
Axel Hölzer
CEO
Alte Jakobstraße 79/80
10709 Berlin
Germany
Tel.: +49 - (0)30 / 246 32-400
Fax: +49 - (0)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 - (0)40 / 320 279-10
Fax: +49 - (0)40 / 320 279-114
www.hillermann-consulting.de

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

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