MediClin: Group sales and Group operating result of the first half year of 2016 are significantly above the same period of the previous year

Offenburg, August 5, 2016 – In the first six months of 2016, MEDICLIN Aktiengesellschaft (MediClin) achieved Group sales of EUR 289.2 mill. (H1 2015: EUR 274.2 mill.) thus being up EUR 15.0 mill. or 5.5 % above the value of the first six months of 2015. The occupancy rate was 88.3 % (H1 2015: 87.4 %). The Group operating result showed a further improvement of EUR 2.5 mill. up to EUR 9.1 mill. (H1 2015: EUR 6.6 mill.).

Sales increase in the post-acute and acute segment and in the business area nursing care

In the post-acute segment sales amounted to EUR 172.6 mill and were EUR 11.0 mill. higher than in the same period of the previous year. This growth was driven by the good utilisation of capacities in neurology, acute neurology, psychosomatics, orthopaedics and geriatrics. The post-acute segment result rose by EUR 3.2 mill. to EUR 9.0 mill. In the acute segment sales of EUR 107.4 mill were achieved. The sales increase of EUR 3.4 mill. was generated primarily in the second quarter of 2016. The segment result of EUR 4.2 mill. was EUR 1.0 mill. below the previous year’s value due to a rise in personnel and material expenses. Sales in the nursing care business area were up EUR 0.4 mill. to EUR 7.2 mil. on the back of an improvement of the occupancy rate by 1.1 percentage points.

In the first six months of 2016, EUR 13.7 mill. (gross) was invested, thereof financed with subsidies EUR 2.1 mill. (H1 2015: EUR 12.6 mill. thereof with subsidies EUR 1.1 mill.). Cash and cash equivalents as of 30 June 2016 amounted to EUR 21.6 mill. (30.06.2015: EUR 18.0 mill.). The equity ratio was 50.0 % (30.06.2015: 48.1 %).

MediClin employed an average of 6,573 employees, calculated on the basis of full-time staff, in the first six months of 2016 (H1 2015: 6,492 full-time employees).

Existing syndicate loan successfully refinanced

Before the termination of the existing syndicate loan of originally EUR 60 mill. concluded on 13 February 2012 (book value as of 29.07.2016: EUR 30 mill.) a new syndicate loan amounting again to EUR 60 mill. was concluded in an attractive interest rate environment and to sustainably favourable conditions. The loan has a maturity of five years plus two renewal options of one year each. EUR 30 mill. thereof are designated to refinance the original syndicated loan. The other EUR 30 mill. refer to a revolving loan that can be drawn to finance the development of strongly requested medical and therapeutic specialist fields. The improved conditions will show a positive effect on the financial result.

Outlook

The business development in the first six months of 2016 indicates that the sales and earnings targets for the Group can be achieved. This applies to the post-acute segment; in the acute segment, the Management Board assumes that the forecast sales growth will be reached and that the segment result will be at the lower end of the forecast range due to higher expenses.