DGAP-News: Asklepios presents a slight increase in revenue in the first quarter 2013
(firmenpresse) - DGAP-News: Asklepios Kliniken GmbH / Key word(s): Quarter Results
Asklepios presents a slight increase in revenue in the first quarter
2013
29.05.2013 / 20:00
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Hamburg, 29th May 2013. Compared to the first quarter of the previous year
Asklepios presents a growth in patients by +7.6 per cent to over 520,000 in
the first quarter of 2013. Revenue increased slightly by +1.6 per cent. The
cost management started in the previous business year continues to show
effect and consolidates the declining material expenditure rate. The
personnel expenditure development in the first quarter resulted in
declining overall performance results.
As a leading private hospital operator, Asklepios has in the past proven to
be able to generate opportunities in a challenging market conditions
development. For instance, the industry has to face the challenge to
generate revenue growth despite declining patient growth rates while at the
same time expenditures develop disproportionately, in particular in terms
of personnel costs.
The operative result EBITDA exhibits a declining development by -16.7 per
cent to 15.7m Euro at a margin of 6.9 per cent in the first quarter of 2013
(Q1/2012: 8.4 %).
The material expenditure rate improved and amounts to around 22.2 per cent
(Q1/2012: 22.6 %). The material expenditure could be reduced by -0.5 per
cent in absolute numbers. The measures taken to reduce material costs
(including but not limited to implants and independent contractors) are
taking effect. Stephan Leonhard, Vice-Chairman of the corporate management
and CFO, explains: 'In terms of material expenditure, we have been able to
record some initial success due to strict cost management and utilising
synergies. We expect some further improvements from our efficiency
programme nextStep in the future.'
The absolute personal cost increased disproportionately by +5.5 per cent at
a margin of 63 per cent (Q1/2012:16.7%), in particular due to pay scale
increases and finalised collective wage agreements by different
professional groups and an organic growth in employees.
The EBIT decline from 12.1m Euro to 26.6m Euro resulted in a margin of 3.5
per cent (Q1/2012: 5.2 %). The corporate surplus amounts to 15.7m Euro
after 24.3m Euro in the same quarter of the previous year. The total yield
amounts to 2.1 per cent% (Q1/2012: 3.2 %).
The net cash flow had to suffer a decline of 60.8 per cent to 17.8m Euro
compared to the same quarter of the previous year. This development
primarily results from a declining operative result combined with a cross
industry increase of accounts receivable due to an increasingly restrained
payment behaviour of the reimbursement companies.
Sound balance sheet and financing structure; equity ratio 32.3 per cent
At the end of the quarter the net indebtedness amounted to 664.1m Euro of
which 118.4m Euro can be assigned to subordinate capital. The debt-equity
ratio thus amounts to 2.5 times the EBITDA (per 31/12/2012: 2.3 times). So
Asklepios continues to have a sound financial structure at the end of the
quarter. The equity ratio amounts to 32.3 per cent and could be slightly
increased compared to the previous year (+0.1 percentage points). Liquid
resources and unused credit lines of about 309m Euro provide the
corporation with financial reserves to carry out investments in the future,
in particular in terms of medical care quality.
The healthcare corporation Asklepios Kliniken GmbH is one of the leading
private operators of hospitals and healthcare facilities in Germany. The
hospital group pursues a responsible sustainable growth strategy directed
at high quality and innovative capacity. Based on this, Asklepios has seen
a dynamic development ever since its foundation over 25 years ago.
Currently the group owns more than 141 healthcare facilities and employs a
staff of more than 45,000. In the past business year 2012 almost 2m
patients have been treated in facilities of the Asklepios group.
Contact for media representatives:
Thomas Pfaadt
Corporate Division Manager Financing&Investor Relations
Tel.: +49 6174 90-1192 - Fax: +49 6174 90-1110
t.pfaadt(at)asklepios.com; www.asklepios.com/ir
Rudi Schmidt
Corporate Division Manager Corporate Communication&Marketing
Tel.: +49 40 1818-826630 - Fax: +49 40 1818-826639
24-hour Standby Service Press Office: +49 40 1818-828888
presse(at)asklepios.com; www.asklepios.com
End of Corporate News
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213824 29.05.2013
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Datum: 29.05.2013 - 20:00 Uhr
Sprache: Deutsch
News-ID 264557
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