MediClin AG: Consolidated sales for the first half of 2022 up 10% on the previous pandemic figure – no change in forecast

DGAP-News: MediClin AG / Key word(s): Half Year Results
MediClin AG: Consolidated sales for the first half of 2022 up 10% on the previous pandemic figure – no change in forecast
29.07.2022 / 12:26
The issuer is solely responsible for the content of this announcement.

Offenburg, 29 July 2022

Consolidated sales for the first half of 2022 up 10% on the previous pandemic figure – no change in forecast

Rising demand for the medical, therapeutic and nursing care services of MEDICLIN raised sales and earnings within the Group year-on-year in the first six months of 2022. The number of inpatients rose by 11.9 % to 51,891 patients while the occupancy rate increased by 6.6 percentage points to 78.1 %. For the 2022 financial year, the Management Board continues to expect Group sales and Group operating result to be higher than in the previous year.

 Business performance covers only part of the cost increases

"We call on politicians to act in the interests of patients and this includes creating timely compensation for the costs of protective measures and testing as well as for massively rising material and personnel costs in the acute and rehabilitation sector," said Dr. Joachim Ramming, CEO of MEDICLIN.

In the first six months of 2022, Group sales of EUR 355.3 mill. were up EUR 32.2 mill. or 10.0 % on the first six months of 2021. The Group operating result of EUR 6.6 mill. was EUR 20.0 mill. above the first six months of 2021.

Group EBIT was burdened in particular by higher material expenses. The rise in raw materials and consumables used exceeded the prior-year value by EUR 6.5 mill. or 11.1 %. Due to the lower headcount, staff costs rose only moderately by EUR 0.9 mill. or 0.4 %. “With an increase of EUR 4.4 million, the largest item in the cost increases was the expenditure on energy," reported Tino Fritz, CFO of MEDICLIN.

Gross capital expenditure amounted to EUR 9.5 mill. in the first six months of 2022 (H1 2021: EUR 8.6 mill.). Cash and cash equivalents as of 30 June 2022 amounted to EUR 102.2 mill. (31.12.2021: EUR 119.5 mill.).

No more benefits under the protective shield to manage the COVID-19 pandemic in the second half of 2022. It is currently questionable whether benefit payments will be resumed.

"The Covid-19 pandemic is not over. Furthermore, protective measures such as testing as well as the wearing of masks and protective clothing are part of everyday hospital life. This requires time, a sense of responsibility and also money. In order to continue to provide our patients with the best possible care, the rehabilitation sector urgently needs further financial compensation," said Dr. York Dhein, COO of MEDICLIN and responsible, among other things, for the Rehabilitation segment.

Outlook – no changes to forecast for the 2022 financial year

In the second half of 2022, high energy costs and rising general material costs must be expected. MEDICLIN is already making use of energy savings opportunities without compromising on quality and hygiene requirements as well as medical, therapeutic and nursing performance.

Given the current situation, it is therefore all the more crucial that demand continue to rise in order to at least partially compensate for the cost hike through better capacity utilisation and the corresponding higher sales.

With regard to the previous forecast for the 2022 financial year, the Management Board continues to assume that the Group's sales and earnings will be higher than in the previous year. The forecast, however, is subject to the proviso that the economic performance in Germany is not massively and sustainably impacted by the current overall conditions.

As MEDICLIN belongs to a system-relevant sector, the delivery and supply of gas is currently secure.

The interim report as of June 30, 2022 is available from today under www.mediclin.de in German and English.

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

MEDICLIN includes 35 clinics, seven care facilities and eleven medical care centers. The Group has around 8,350 beds/care places and employs around 10,200 people. In a strong network, MEDICLIN offers the patient integrative care from the first visit to the doctor through the operation and subsequent rehabilitation to outpatient aftercare. Doctors, therapists and nurses work together in a carefully coordinated manner. MEDICLIN designs the care and support of people in need of care according to their individual needs and personal needs.

MEDICLIN ─ a company of the Asklepios Group.

29.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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