DGAP-News: Asklepios Kliniken Verwaltungsgesellschaft mbH: Asklepios Group reports a significant increase in revenues and earnings for the first quarter of 2010 - Number of patients grows 14.6 percent over previous first quarter
(firmenpresse) - Asklepios Kliniken Verwaltungsgesellschaft mbH / Quarter Results
06.07.2010 03:59
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Hamburg, July 6th, 2010. The Asklepios Group enjoyed a significant increase
in revenues and earnings in the first quarter of the 2010 financial year.
The hospital group, which is one of the three largest operators of private
hospitals in Germany with a market share of more than 20 percent, saw
revenues rise 6.5 percent to 563.2 million Euros (Q1/2009: 528.9 million
Euros). The number of patients rose 14.6 percent to over 407,000. Thanks to
additional services and process improvements, earnings increased by more
than one-third compared to the first quarter of the previous year.
Stephan Leonhard, Group Managing Director and CFO of Asklepios Group said:
'Asklepios got off to a successful start in 2010. We are especially pleased
with the repeated increase in the number of patients. For us this is an
important benchmark for measuring the acceptance of our high-quality
medical services. We are also confident that we will be able to meet our
targets for the full year. Our excellent balance sheet will enable us to
invest in the expansion of our hospitals and capitalise on future growth
opportunities.'
New medical services, improved capacity management and performance-based
remuneration agreements were primarily responsible for the Group's growth,
which was entirely organic. Thanks to these positive revenue effects and
process improvements, Asklepios Group enjoyed an overproportional growth in
earnings before interest, taxes and depreciation (EBITDA) of 34.5 percent
to 50.5 million Euros (Q1/2009: 37.5 million Euros). This, together with a
significant improvement in the financial result and reduction in capital
costs, led to a 115-percent increase in consolidated net income of 24.8
million Euros (Q1/2009: 11.5 million Euros). The current net profit margin
is 4.4 percent.
Significant portion of net cash flow used for investment activities
In the first quarter of 2010 Asklepios again generated a strong net cash
flow from operations of 39.1 million Euros, which was used primarily for
investments and in paying off financial liabilities. Net debt at the end of
the quarter amounted to 556.8 million Euros, of which 290.6 million Euros
was attributable to subordinated capital. Without taking the subordinated
capital in account, net debt declined to 1.3 times the EBITDA (as of 31
December 2009: 1.4 times).
At the end of the first quarter Asklepios Group thus had a sound financial
structure featuring an equity ratio of 28.6 percent. When subordinated
capital is included, the ratio stands at 43.6 percent. Cash and cash
equivalents and untapped lines of credit of over 430 million Euros provide
the Group with sufficient financial headroom for growth and investments.
Dr. Kai Gregor Klinger
Director of Investor Relations&Corporate Finance
Asklepios Kliniken GmbH
Tel.: +49 (0)6174 90-1192 - Fax: +49 (0)6174 90-1110
E-Mail: k.klinger(at)asklepios.com - www.asklepios.com
06.07.2010 03:59 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 06.07.2010 - 03:59 Uhr
Sprache: Deutsch
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