Asklepios: Moderate business performance in first quarter of 2017

In the first quarter of 2017, the Asklepios Group posted a slight year-on-year increase in the number of patients treated and in revenue. With regard to earnings, the development of EBITDA was down on the previous year’s level. One of the main reasons for this was a higher staff costs ratio in relation to the modest revenue performance. For the remaining nine months of the year, the company sees further potential for growth in organic revenue, EBITDA and the equity ratio. Based on the moderate first quarter, Asklepios is confirming its forecast for 2017 as a whole.

Stable key financial figures

The Group’s revenue amounted to EUR 812.5 million in the financial year (3M 2016: EUR 803.1 million). EBITDA decreased to EUR 77.7 million (3M 2016: EUR 83.7 million). Asklepios reduced its cost of materials ratio by 0.4 percentage points to 21.2% (3M 2016: 21.6%). However, the staff costs ratio climbed at a higher rate than revenues and amounted to 66.2% (3M 2016: 64.6%). Consolidated net income amounted to EUR 33.0 million as at 31 March 2017 (3M 2016: EUR 35.0 million). The return on sales was below the previous year’s level at 4.1% (3M 2016: 4.3%). Equity amounted to EUR 1,272.9 million as at 31 March 2017 (31 December 2016: EUR 1,273.4 million). The equity ratio of 36.3% was slightly lower than at the end of the year (31 December 2016: 36.8%).

The Asklepios Group’s financial position is stable. As at 31 March 2017, the Group’s net debt amounted to EUR 618.6 million (31 December 2016: EUR 524.3 million). The debt ratio came to 1.6 times EBITDA (31 December 2016: 1.3 times). The equity ratio of 36.3% was slightly lower than at the end of 2016 (31 December 2016: 36.8%). Cash and cash equivalents amounted to EUR 378.0 million and unused credit facilities to EUR 456.1 million as at 31 March 2017 (31 December 2016: EUR 460.5 million). The Group thus has sufficient financial resources to fund further corporate growth.

Forecast

The Asklepios Group’s growth prospects are generally positive thanks to its sound economic and financial foundation and its future-oriented overall strategic concept. For the financial year 2017 as a whole, the company anticipates a slight increase in patient numbers and valuation ratios, as well as organic revenue growth of between 1.5% and 2.5% for the financial year as a whole. On this basis, Asklepios also expects a slight but sustained increase in both EBITDA and the equity ratio year-on-year. The regulatory environment remains challenging.

Group key figures in comparison to previous year

The report on the first quarter of 2017 is available at www.asklepios.com/ir.

About Asklepios

The healthcare group Asklepios Kliniken is among the leading private operators of hospitals and healthcare facilities in Germany. The hospital group stands for highly professional care of its patients with a clear commitment to medical quality, innovation and social responsibility. On this basis, Asklepios has been developing dynamically ever since it was founded more than 30 years ago. The group currently has 150 healthcare facilities across Germany. Its facilities include acute hospitals providing all levels of care, specialist clinics, psychiatric and forensic facilities, rehabilitation clinics, nursing homes and medical centres. In the 2016 financial year, 2.3 million patients were treated in the Asklepios Group’s facilities. The company has approximately 46,000 employees.

Visit Asklepios on its website, Facebook, or YouTube:

www.asklepios.com
www.asklepios.com/ir
www.facebook.com/asklepioskliniken
www.youtube.com/asklepioskliniken