MEDICLIN publishes preliminary figures for the first quarter of 2020 and, due to the Corona pan-demic, lowers its forecast for 2020

MediClin AG / Key word(s): Change in Forecast
MEDICLIN publishes preliminary figures for the first quarter of 2020 and, due to the Corona pan-demic, lowers its forecast for 2020

23-Apr-2020 / 09:54 CET/CEST
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MEDICLIN publishes preliminary figures for the first quarter of 2020 and, due to the Corona pan-demic, lowers its forecast for 2020

Preliminary Group sales of EUR 167.4 million for the first quarter of 2020 are at the same level as in the first quarter of 2019. Preliminary Group EBIT amounts to EUR -3.9 million after EUR 1.6 million in 2019. Compared to the same quarter of the previous year, a lower capacity utilization in the clinics had a negative impact on earnings.

Free capacity created in the fight against the Co-rona virus

Since mid-March 2020, MEDICLIN's acute clinics have cancelled all elective operations and increased respiratory capacity by 40%. Regarding the MEDICLIN rehabilitation clinics, as part of the federal precautionary measure planning, more than half of MEDICLIN's rehabilitation clinics keep beds free for Corona patients or to relieve the burden on the regional hospitals.

The next few months will show to what extent the protective umbrella created by the government will compensate for the actual financial burdens caused by the reduction in the utilization of clinics.

Return to normal not expected before the second half of 2020

MEDICLIN currently expects a return to normality and a certain catch-up effect or increased demand for medical and therapeutic services in the course of the second half of 2020.

Adjusted forecast with higher visibility

Due to the current situation, the Management Board no longer assumes that the published guidance for the financial year 2020 will still be achieved. As soon as the development can be reliably estimated, the Management Board will announce a new forecast for the current financial year.

The interim report for the first quarter of 2020 will be published by MEDICLIN on May 4, 2020.

Note: Explanations on the financial key data used can be found on the MEDICLIN homepage under Investor Relations

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.

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