MediClin: Group sales plus 4 % compared to previous year's period
Group sales plus 4 % compared to previous year's period
In the first nine months of the 2019 financial year, MEDICLIN was able to raise Group sales by 4.0 % year-on-year or EUR 19.5 mill. to EUR 504.7 mill. The sales increase is mainly attributable to capacity expansions and changes in the mix of services offered compared with the same period of the previous year. The largest share in sales growth, some EUR 12.8 mill., was contributed by the post-acute segment, while the acute segment accounted for EUR 7.2 mill. Sales in the nursing care business area were at the prior-year level.
Despite the increase in sales, the Group operating result dropped by EUR 2.9 mill. from EUR 17.8 mill. to EUR 14.9 mill. compared with the same period of the previous year. The same applies to the post-acute segment. In this segment, the result declined from EUR 19.1 mill. to EUR 18.6 mill., mainly due to an increase of external medical services on the back of the implemented capacity expansions. In the acute segment, the result dropped by EUR 3.1 mill. from EUR 1.6 mill. to EUR - 1.5 mill. due to higher staff costs and raw materials and consumables used.
Cash and cash equivalents as of 30 September 2019 amounted to EUR 29.5 mill. (31.12.2018: EUR 33.8 mill.).
Gross investments amounted to EUR 34.9 mill. in the first nine months of the 2019 financial year (9M 2018: EUR 32.2 mill.), pertaining mainly to the reconstruction and expansion of clinics and the acquisition of medical equipment. Capital expenditure is thus in line with the annual budget.
As in the previous years, the third quarter was the quarter with the strongest sales and earnings. Therefore, the conditions for meeting the targets are presently given overall. The Management Board assumes that, due to capacity constraints, the Group's sales increase will be limited to about 4 % in the 2019 financial year, especially in the post-acute segment. Given the continuously high expenses for external medical services and a slightly negative EBIT expected in the acute segment, Group EBIT will come out at the lower end of the guidance of EUR 22.0 to 28.0 mill.
The interim report as of September 30, 2019 is available on the homepage of MEDICLIN in German and English from today on. www.mediclin.de
About MEDICLIN AG (Ticker: MED; WKN: 659 510)
MEDICLIN owns 36 clinics, seven nursing care facilities and ten medical care centres. The Group has about 8,350 beds and a headcount of more than 10,000. 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.
05.11.2019 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.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: MediClin AG Okenstraße 27 77652 Offenburg
Germany Phone: +49 (0)781 488-326 Fax: +49 (0)781 488-184 E-mail: firstname.lastname@example.org Internet: www.mediclin.de ISIN: DE0006595101 WKN: 659510 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 904691 End of News DGAP News Service