Asklepios Group: Resilient business performance in Q1 2023

Asklepios Kliniken GmbH & Co. KGaA has made a resilient start to the first quarter of 2023. As such, Asklepios has established a sound basis for the 2023 financial year to counter the persistent inflation and the uncertainties arising from the planned hospital reform throughout Germany.

The Asklepios healthcare facilities cared for a total of 854,558 inpatients and outpatients in the first quarter of 2023 (3M 2022: 836,025). At EUR 1,341.8 million, revenue was up on the previous year’s figure (3M 2022: EUR 1,276.3 million).

In the first quarter, the cost of materials rose to EUR 345.8 million (3M 2022: EUR 321.5 million). The cost of materials ratio came to 25.8% in the first quarter of 2023 (3M 2022: 25.2%). The staff costs ratio was also higher than in the previous year at 68.9% (3M 2022: 68.0%). Absolute staff costs increased by EUR 57.2 million to EUR 924.9 million (3M 2022: EUR 867.7 million). The other expenses ratio came to 8.1% (3M 2022: 7.7%).

Overall, consolidated net income (EAT) for January to March 2023 amounted to EUR 9.2 million (3M 2022: EUR 6.4 million). The EAT margin was 0.7% (3M 2022: 0.5%).

Despite the difficult environment, Asklepios made high investments in its approximately 170 healthcare facilities. Investments including subsidies amounted to EUR 77.4 million. Internally financed capital expenditure increased by EUR 11.3 million to EUR 47.4 million in the first quarter of 2023 (3M 2022: EUR 36.1 million).

The Asklepios Group had a sound financial position in the first quarter of 2023: The ratio of net debt to EBITDA for the past 12 months was 3.4x (31 December 2022: 3.5x). Cash and cash equivalents amounted to EUR 661.1 million as at 31 March 2023 (31 December 2022: EUR 634.6 million).

In the 2023 financial year, the Asklepios Group anticipates a stable revenue performance, largely positive economic development and a slight, sustainable increase in EAT. Asklepios will react flexibly to external economic challenges and effectively handle changes in medical or regulatory requirements.