Marseille-Kliniken AG

euro adhoc: Marseille-Kliniken AG
Financial Figures/Balance Sheet
- Preliminary revenues at EUR 201.4 million for fiscal 2004/2005 slightly above previous year's level - Earnings per share improve EUR 0.08 to EUR 0.73 - Expansion of core division Nur

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Berlin, September 29, 2005 - On the basis of preliminary figures for the fiscal year 2004/05, the Marseille-Kliniken AG (Prime Standard, ISIN DE 0007783003, MKA) was able to slightly expand sales to EUR 201.4 million (previous year EUR 200.1 million). The result from ordinary operations improved substantially from - EUR 8.8 million in the previous year to + EUR 8.8 million. The earnings for the fiscal year pursuant to DVFA/SG (HGB) amounted to EUR 7.6 million compared with EUR 7.5 million in the previous year. According to IFRS a consolidated profit pursuant to DVFA/SG of EUR 8.9 million (previous year: EUR 7.9 million) results for the period under review. This corresponds to an increase in earnings per share by EUR 0.08 to EUR 0.73 (previous year: EUR 0.65).

The trend in revenues and earnings in the fiscal year 2004/2005 reflects the different market conditions in the segments Nursing and Rehabilitation. In Rehabilitation, the utilization rate was stabilized at last year’s level and amounted to 76.6%. However, the division still burdens the revenues and earnings for the entire group. The bed capacity declined by 100 beds from 1,772 to 1,672. Accordingly, revenues declined by additional EUR 2.4 million from EUR 53.1 million in the previous year and thus amounted to EUR 50.7 million in the period under review. With a loss of - EUR 3.6 million (previous year: - EUR 4.0 million) the division continued to weigh on the overall results.

The main driver of growth still remains the stable profitability of the core segment Nursing, which accounts for 78% of the overall bed capacity. With revenues of EUR 150.7 million in this segment the Marseille-Kliniken AG recorded a growth of EUR 3.7 million compared with EUR 147.0 million one year ago. The earnings pursuant to DVFA/SG (HGB) stood at EUR 11.2 million and thus remained at previous year's level (pervious year: EUR 11.5 million). Due to the start-up time of four new facilities and renovation work at two other facilities the capacity utilization rate of 90.7% did not quite reach previous year's utilization rate of 94.3%. Accordingly, the Group's capacity utilization rate amounted to 87.5%, which is below the level of 90.0% achieved one year ago.

The expansion of the Nursing division is being further progressed. During the period under review two new facilities with 238 beds were opened in Dresden and in Hennigsdorf/Berlin. In addition, the core division Nursing was complemented by the service segment "Assisted Living". In the current fiscal year Marseille-Kliniken AG has started to offer services for the elderly in three sets of buildings with more than 750 apartments. The expansion of the service segment "Assisted Living" is a logical step for the Marseille-Kliniken AG in its broadening of the range of services offered to the elderly. The company already expects a significant earnings contribution from the new service division in the current fiscal year suggesting higher returns than stationary care.

Overall, the number of facilities rose from 58 in the past fiscal year to currently 60. The number of beds increased slightly from 7,512 to 7,573 due to the new facilities in the Nursing division despite the decline in the Rehabilitation segment. With two new facilities in Dusseldorf and Hamburg and the expansion of the service division "Assisted Living", the bed capacity will increase by 1,100 beds in the current fiscal year.

The Marseille-Kliniken AG will also continue its shareholder-friendly distribution policy this year. The Management Board will recommend the Supervisory Board and the Annual General Meeting to resolve a dividend of EUR 0.40 per share.

Following the approval of the annual financial statements by the Supervisory Board the annual report for the fiscal year 2004/2005 will be published in mid-October.

End of the ad hoc release

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ots Originaltext: Marseille-Kliniken AG
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Further inquiry note:
Marseille-Kliniken AG
Axel Hölzer
Alte Jakobstraße 79/80
10709 Berlin
Tel.: +49 30 / 246 32-400
Fax:  +49 30 / 246 32-401
Hillermann Consulting
Christian Hillermann
Tel: +49 40 414 069 13
Fax: +49 40 414 069 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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