Institut für Notfallmedizin (IfN) - Zentrum für medizinische Simulation
Asklepios showed revenue growth in Q1 2014: Organic growth of around 4%
Asklepios documented a predominantly organic rise in the number of patients by +1.6 per cent from 534,000 to approximately 543,000. The trend towards outpatient care continued; this area saw an increase of 2.1 per cent on the same period of the previous year. Positive development in the first quarter also resulted in a slight increase of 0.7 per cent in inpatient numbers compared to the first three months of the previous year.
The rise in patient numbers resulted in revenue growth. This was increased by 4.1 per cent from EUR 724.0 million to EUR 753.7 million, and 3.9 per cent is based on organic growth.
Specialised centres in certain clinics offer improved medical services to set priorities. “We are going to strengthen the investments in the safety of patients and employees”, underlined Dr. Ulrich Wandschneider, CEO of the Group Board of Management of the Asklepios Kliniken GmbH this specialisation. Positive impact on earnings situation from this investments as well as increases in efficiency through shared services countered cost increases. The focus on requirement-based operating expenses and optimised turnaround management helped to at least partially compensate for the continuously increasing energy prices, material expenses and especially staff costs also. Overall, operating margins at EBITDA level at 8.5 per cent (Q1 2013: 7.3 per cent) and at EBIT level at 4.9 per cent (Q1 2013: 3.7 per cent) were achieved. Group net profit improved from EUR 15.7 million in the same period of the previous year to EUR 24.1 million in the reporting period. Therefore return of sales increased in the first quarter to 3.2 per cent (previous year: 2.2 per cent).
Solid financial and balance sheet structures
The operating cash flow of the Group in the amount of EUR 70.4 million was mainly used for modernisation and quality improvement of the technical equipment as well as education and training of its professionals and service personnel are aimed at fulfilling the target to be the best clinic operator. “The proportion of internally financed investments of nearly 59 per cent was well above last year’s 50 per cent ratio in the same time”, underpinned Stephan Leonhard, Deputy CEO of the Group Board of Management and CFO, this trend.
The Group balance sheet total increased from EUR 2,755.0 million to EUR 2,814.6 million. The Group equity grew by EUR 8.6 million to EUR 934.9 million, representing an adequate equity ratio of 33.2 per cent at previous year’s level (33.6 percent at the balance sheet date 31 Dec 2013).
Net debt of the Group, including subordinated capital of EUR 67.9 million, lowered to EUR 567.1 million at the balance sheet date 31 March 2014 (previous year: EUR 598.7 million). The debt to equity ratio therefore sank to 1.9-times EBITDA (previous year: 2.1-times). Cash and cash equivalents (EUR 224.7 million) and undrawn credit lines (EUR 463.0 million) added up to liquidity reserves of EUR 687.7 million at the balance sheet date 31 March 2014.
Positive outlook
Asklepios expects further organic sales growth of 2 to 4 per cent in its outlook for fiscal year 2014. Furthermore Asklepios also checks opportunities for growth by acquisitions in the hospital market, if available.
About Asklepios
The healthcare Group Asklepios Kliniken GmbH is a leading private operator of hospitals and healthcare facilities in Germany. The Group pursues a responsible, sustainable growth strategy that is geared towards high quality and innovative strength. With this approach, Asklepios has enjoyed dynamic development since its formation more than 30 years ago. At present, the Group has around 150 healthcare facilities and employs more than 45,000 people throughout Germany. In the previous financial year, 2013, around 2.2 million patients were treated in Asklepios Group facilities.