MEDICLIN is satisfied with the 2019 financial year - the outlook for 2020 is fraught with uncertainty

DGAP-News: MediClin AG / Key word(s): Annual Results
26.03.2020 / 13:04
The issuer is solely responsible for the content of this announcement.

Offenburg, March 26, 2020

MEDICLIN is satisfied with the 2019 financial year - the outlook for 2020 is fraught with uncertainty

The Management Board of MEDICLIN Aktiengesellschaft (MEDICLIN) was satisfied with the business development in 2019. "We achieved our earnings targets in the 2019 financial year," said Tino Fritz, CFO of MEDICLIN AG. "Our strategy of expanding capacities in demanded indications works, which was shown in 2019 by the good utilization of the newly created medical services", added the CEO Volker Hippler.

We take our responsibility for care seriously

The facilities of the MEDICLIN Group have taken all necessary measures to protect their patients as well as the employees from possible infection and to maintain the medical, therapeutic and nursing operations. With our many years of expertise, we will make the maximum possible contribution for patients in this unusual situation.

Legislation provides financial support to deal with the corona pandemic

At the moment, the focus of the legislation is essentially on the additional funds required in the acute area. "Unfortunately, the existing or - within the scope of the current responsibility for care - newly created medical options of the rehabilitation clinics still not taken into account enough. Both in terms of additional absorption capacity and in terms of financial support for this option", comments Tino Fritz on the current legislative proposals.

Outlook with uncertainties

The forecast for the 2020 financial year, without taking into account the current situation, provides that Group sales should rise between 4% and 6% and that Group-EBIT should be between EUR 18 million and EUR 24 million.

"Because of the corona pandemic, the previous forecast is subject to great uncertainty, as the economic impact on our industry is difficult to assess," said Volker Hippler. "At the moment we cannot finally predict how the utilization of our capacities will develop, neither in the coming weeks, nor to what extent we can implement our investment projects during this time," added Tino Fritz.

Many rehabilitation clinics can make a very good contribution by e.g. take over the follow-up care of stroke patients, heart patients, oncological patients and other very sick people. As a result, the overall capacities in the healthcare system for the care of corona patients are sustainably secured. In this way, according to the board members, we can protect the acute sector from overload.

MEDICLIN must continue to grow after the pandemic

The cost increases are forcing healthcare providers to expand their range of services. "We will be able to finance some of the capacity expansions and thus our future growth from cash flow, but also by drawing on our credit lines," said CFO Tino Fritz. To strengthen internal financing, MEDICLIN will therefore propose once to this year's Annual General Meeting to transfer the balance sheet profit of EUR 51.2 million shown in the financial statements of MEDICLIN Aktiengesellschaft to the other revenue reserves.

From today on, the annual report 2019 will be available in German and English under www.mediclin.de

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About MEDICLIN AG (Ticker: MED; WKN: 659 510)

MEDICLIN owns 36 clinics, seven nursing care facilities and nine medical care centres. The Group has about 8,500 beds/places and a headcount of about 10,500. With its strong network, MEDICLIN can offer its patients integrated care from the first visit to the doctor to surgery, post-operative rehabilitation and follow-up care at home. Doc-tors, therapists and nurses work together closely to achieve the best results. MEDICLIN plans the care of persons in need in accordance with their individual requirements and personal needs.

MEDICLIN - A company of the Asklepios Group.

26.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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