Asklepios Group achieves further growth in financial year 2014
At Group level the Asklepios Kliniken Group is looking back at successful business performance in 2014. On the basis of a clear alignment as an integrated healthcare group, the Asklepios Group posted particularly good growth rates on the earnings and margins side. In the reporting year, approximately 2.2 million patients were treated in clinics of the Asklepios-Group – an increase of 2.6% against the previous year which was achieved on an organic basis. At 2.4% the upturn with outpatients was at a similar level as the 2.7% achieved with inpatient care. There was higher performance not only in the acute sector, but also in rehabilitation and with psychiatric facilities.
Revenue increased against the previous year by 4.2% and at EUR 3,020.2 million it exceeded the EUR 3 billion mark for the first time. The operating result (EBITDA, earnings before interest, taxes, depreciation and amortisation) increased by 16.2% to EUR 330.4 million, after EUR 284.4 million in the previous year. At 10.9%, the EBITDA margin also exceeded the previous year’s figure (9.8%) by 1.1 percentage points. Material expenses in particular, but also personnel expenses increased at a lower rate than revenue. Active cost management, for example, made an impact on the procurement of medical products and implants and on energy expenses. Consolidated net income for the year rose by 25.4% to EUR 151.8 million (previous year: EUR 121.1 million). The return on sales was improved by 0.8 percentage points to 5.0%.
The positive development in 2014 was made possible mainly by the conscious decision of many patients to be treated in Asklepios’ modern, efficient facilities. “This growth exceeds the long-term industry average and shows that our medical care based on safety and high treatment quality is well received by our patients,” explains Dr. Ulrich Wandschneider, CEO of the Asklepios Group. He adds “Our complication and review quotas which are below the German average, are the key quality criteria for us.”
Further equity increase – investments from own funds at new high
The Group’s sound balance sheet structures continued to improve in the past financial year. For example, the equity of Asklepios Kliniken GmbH exceeded the billion mark for the first time, amounting to EUR 1,001.7 million (31 December 2013: EUR 926.3 million). With total assets up 3.9% at EUR 2,863.4 million (31 December 2013: EUR 2,755.0 million), the equity ratio was 35.0% (31 December 2013: 33.6%).
Stephan Leonhard, Vice-Chairman of the Group management team and CFO, commented: “In 2014, Asklepios again benefited from its position as an integrated healthcare company and is clearly at the upper end of its forecast with the targets achieved. We again found out that financial solidity and outstanding medical quality are mutually dependent in the hospital sector. The Asklepios Group is in rude financial health and continues to use its strength for high internally financed investments in hospitals throughout Germany.”
In total, the Group invested EUR 242.7 million in intangible assets and property, plant and equipment in the 2014 financial year. Investments from own funds (total investments less public subsidies) reached a new high of EUR 160.7 million, while the subsidy ratio fell to just 33.8%.
The success story continues
Group management is confident that Asklepios will continue to grow qualitatively and quantitatively in 2015, the year of its 30th anniversary, and build on its position as Europe’s leading family-owned business in the hospital sector. In the forecast for the 2015 financial year, Asklepios assumes continued organic revenue growth of approximately 2% to 4% and a further sustained increase in the operating result. The 2014 annual report will be published in the Investor Relations section of the Asklepios website (www.asklepios.com) during the course of today.
About Asklepios
The Asklepios Kliniken GmbH healthcare group is among the leading private operators of hospitals and healthcare facilities in Germany. The clinic group pursues a responsible, sustainable growth strategy that is geared towards high quality and innovative strength. On this basis, Asklepios has developed dynamically since it was founded 30 years ago. The Group currently has around 150 healthcare facilities nationwide and employs more than 45,000 people. In the last financial year 2014, approximately 2.2 million patients were treated in Asklepios Group facilities.
Talk to us
Mirjam Constantin
Head of Group Reporting (Financial & ESG) | Manager Investor Relations
- type a message
- +49 61 74 90 11 66
- +49 61 74 90 11 10
Rune Hoffmann
Head of Corporate Communications & Marketing, Company Spokesperson