The demand for non-corona-induced medical and therapeutic measures has been increasing since mid-2021

In the first months of 2021 − due to the 3rd wave of the corona pandemic − there was still a low number of referrals from acute clinics and a reluctance to make use of rehabilitation services. This led only to a hesitant increase in occupancy in the first half of 2021. The occupancy has increased somewhat more clearly since the middle of the year.

Operating Group sales in the 1st half of 2021 above the previous year's value, but still below the pre-Corona level

In the first half of 2021, MEDICLIN achieved Group sales of EUR 323.1 mill., which is EUR 0.4 mill. or 0.1% less than in the first half of 2020. At operating level, without benefits under the protective shield, Group sales increased by EUR 15.9 mill. or 5.4 % compared to the previous year’s period. Compared to 2019 before the coronavirus pandemic, sales without benefits under the protective shield are still EUR 25.3 mill. or 7.6 % below the sales generated in the first half of 2019.

As far as the Group operating result is concerned, at EUR –13.4 mill., it is EUR 4.6 mill. below the value of the first half of 2020 of EUR –8.8 mill. The result was impacted by an increase in raw materials and consumables used, mainly driven by higher demand and due to higher expenditure for hygiene and protective measures. Despite a decline in headcount, staff costs rose moderately.

As of June 30, 2021, cash and cash equivalents amounted to EUR 95.6 mill. (December 31, 2020: EUR 100.4 million). The cash and cash equivalents as of the balance sheet date include subsidies and expected reimbursements under the corona protective shield and other measures in the amount of around EUR 66.5 mill.

Outlook

Although the number of people infected with Corona has fallen continuously since the end of the 3rd wave respective the end of April 2021 − they are currently increasing again slightly − nevertheless, the sales and earnings development for the year as a whole depends on the further development of the number of infections and protective shield benefits. The protective shield benefits will be significantly lower for the year 2021”, comments Tino Fritz, CFO of MEDICLIN, on the expected further business development. MEDICLIN is currently assuming that capacity utilization at the level before Corona might not be achievable in the second half of 2021.

Reporting of the segments

In the post-acute segment, sales increased by EUR 4.2 mill. or 2.3%. Without taking protective shields benefits into account, sales increased by EUR 12.7 mill. or 7.4% in a half-year comparison.

The interim report for the second quarter of 2021 is available from today at https://www.mediclin.de/investor-relations/finanzpublikationen/ in German and English.

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

MEDICLIN includes 35 clinics, seven care facilities and ten medical care centers. The Group has around 8,350 beds / care places and employs around 10,300 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.