Asklepios: Moderate business performance in first quarter of 2017

· Group revenue totals EUR 812.5 million, consolidated net income
amounts to EUR 33.0 million
· Gross investments amount to EUR 61.2 million, proportion of own funds
is around 80%
· Number of patients treated totals 576,375

In the first quarter of 2017, the Asklepios Group posted a slight year-on-year increase in the number of patients treated and in revenue. With regard to earnings, the development of EBITDA was down on the previous year’s level. One of the main reasons for this was a higher staff costs ratio in relation to the modest revenue performance. For the remaining nine months of the year, the company sees further potential for growth in organic revenue, EBITDA and the equity ratio. Based on the moderate first quarter, Asklepios is confirming its forecast for 2017 as a whole.

Stable key financial figures

The Group’s revenue amounted to EUR 812.5 million in the financial year (3M 2016: EUR 803.1 million). EBITDA decreased to EUR 77.7 million (3M 2016: EUR 83.7 million). Asklepios reduced its cost of materials ratio by 0.4 percentage points to 21.2% (3M 2016: 21.6%). However, the staff costs ratio climbed at a higher rate than revenues and amounted to 66.2% (3M 2016: 64.6%). Consolidated net income amounted to EUR 33.0 million as at 31 March 2017 (3M 2016: EUR 35.0 million). The return on sales was below the previous year’s level at 4.1% (3M 2016: 4.3%). Equity amounted to EUR 1,272.9 million as at 31 March 2017 (31 December 2016: EUR 1,273.4 million). The equity ratio of 36.3% was slightly lower than at the end of the year (31 December 2016: 36.8%).

The Asklepios Group’s financial position is stable. As at 31 March 2017, the Group’s net debt amounted to EUR 618.6 million (31 December 2016: EUR 524.3 million). The debt ratio came to 1.6 times EBITDA (31 December 2016: 1.3 times). The equity ratio of 36.3% was slightly lower than at the end of 2016 (31 December 2016: 36.8%). Cash and cash equivalents amounted to EUR 378.0 million and unused credit facilities to EUR 456.1 million as at 31 March 2017 (31 December 2016: EUR 460.5 million). The Group thus has sufficient financial resources to fund further corporate growth.

Forecast

The Asklepios Group’s growth prospects are generally positive thanks to its sound economic and financial foundation and its future-oriented overall strategic concept. For the financial year 2017 as a whole, the company anticipates a slight increase in patient numbers and valuation ratios, as well as organic revenue growth of between 1.5% and 2.5% for the financial year as a whole. On this basis, Asklepios also expects a slight but sustained increase in both EBITDA and the equity ratio year-on-year. The regulatory environment remains challenging.

Group key figures in comparison to previous year

EUR million

3 months 2017

3 months 2016

Change

12 months 2016

12 months 2015

 
 

Revenue

812.5

803.1

1.2%

3,211.2

3,082.0

 

EBITDA

77.7

83.7

-7.1%

390.4

374.0

 

EBITDA margin (in %)

9.6

10.4

-0,8Pp

12.2

12.1

 

Consolidated net income

33.0

35.0

-5.7%

192.1

176.8

 

Net debt/EBITDA

1.6

1.5

 

1.3

1.6

 

Patients

576,375

572,884

0.6%

2,279,477

2,217,987

 

Valuation ratio

154,065

151,451

1.7%

595,210

583,517

 

Employees (FTEs)

34,884

34,668

0.6%

34,887

34,670

 

 

The report on the first quarter of 2017 is available at www.asklepios.com/ir.

About Asklepios

The healthcare group Asklepios Kliniken is among the leading private operators of hospitals and healthcare facilities in Germany. The hospital group stands for highly professional care of its patients with a clear commitment to medical quality, innovation and social responsibility. On this basis, Asklepios has been developing dynamically ever since it was founded more than 30 years ago. The group currently has 150 healthcare facilities across Germany. Its facilities include acute hospitals providing all levels of care, specialist clinics, psychiatric and forensic facilities, rehabilitation clinics, nursing homes and medical centres. In the 2016 financial year, 2.3 million patients were treated in the Asklepios Group’s facilities. The company has approximately 46,000 employees.

Visit Asklepios on its website, Facebook, or YouTube:

www.asklepios.com
www.asklepios.com/ir
www.facebook.com/asklepioskliniken
www.youtube.com/asklepioskliniken

 

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Mirjam Constantin

Mirjam Constantin

Head of Group Reporting (Financial & ESG) | Manager Investor Relations

Rune Hoffmann

Rune Hoffmann

Head of Corporate Communications & Marketing, Company Spokesperson

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