Asklepios posts solid growth in first quarter of 2018

Asklepios posts solid growth in first quarter of 2018

Hamburg, 24 May 2018 Asklepios is matching the positive development achieved in the 2017 financial year. Its hospitals and medical facilities treated more patients than in the same period of the previous year. At the same time, consolidated revenue rose as a result of organic growth, while EBITDA and consolidated net income for the period also increased. On this basis, Asklepios sees good conditions for sustainable growth over the remainder of the financial year and is confirming its forecast for 2018 as a whole.

Revenue totalled EUR 847.4 million in the first quarter of 2018, up EUR 34.9 million or 4.3% year-on-year (3M 2017: EUR 812.5 million).

In the period from January to March 2018, the healthcare facilities of the Asklepios Group cared for a total of 582,186 patients, 1.0% more than in the same period of the previous year (3M 2017: 576,375). However, the number of cost weights decreased by 1.0% to 152,503 (3M 2017: 154,065).

EBITDA amounted to EUR 79.4 million in the first three months of 2018, up 1.6% on the same period of the previous year (3M 2017: EUR 78.2 million). The operating EBITDA margin was 9.4% (3M 2017: 9.6%). In the first quarter of 2018, the cost of materials ratio came to 21.5% (3M 2017: 21.3%). The staff costs ratio increased to 66.5% (3M 2017: 66.1%). The other expenses ratio (not including rental expenditure) was up year-on-year at 8.1% (3M 2017: 7.9%).

Consolidated net income for the period from January to March 2018 amounted to EUR 28.9 million in total (3M 2017: EUR 28.3 million), corresponding to a return on sales of 3.4% (3M 2017: 3.5%).

In the first quarter of 2018, net cash flow from operating activities increased by EUR 2.6 million to EUR 53.2 million (3M 2017: EUR 50.6 million) and was thus up 5.1% year-on-year. Capital expenditure including subsidies amounted to EUR 50.7 million in the reporting period (3M 2017: EUR 60.6 million), with a share of own funds of 68.5% (3M 2017: 79.3%).

The Asklepios Group's financial position is stable. As at 31 March 2018, the Group's net debt amounted to EUR 878.9 million (31 December 2017: EUR 874.6 million). The debt ratio came to 2.2 times the EBITDA of the past 12 months (31 December 2017: 2.2 times). The equity ratio of 35.6% was higher than at the end of 2017 (31 December 2017: 34.4%). Cash and cash equivalents amounted to EUR 496.8 million (31 December 2017: EUR 612.3 million) and unused credit facilities totalled EUR 461.6 million as at 31 March 2018. The Group thus has sufficient financial resources to fund further corporate growth.

EUR million	3 months 2018	3 months 2017	Change
Revenue	847.4	812.5	4,3%
EBITDA	79.4	78.2	1,6%
EBITDA margin (in %)	9.4	9.6	-0,2Pp
Consolidated net income for the period	28.9	28.3	2,2%
Patients	582,186	576,375	1,0%
Cost weight	152,503	154,065	-1,0%
Employees (FTEs)	35,004	34,884	0,3%
31.03.2018	31.12.2017
Net debt / EBITDA LTM	2,2 x	2,2 x	-

 

Forecast

The growth prospects of the Asklepios Group are regarded as positive by the management thanks to its solid economic and financial foundation and its general forward-looking strategic concept. The company is anticipating a stable year-on-year development in the number of patients and cost weights for the 2018 financial year. Organic revenue growth is expected to be between 1.5% and 2.0%. A slight but sustained increase in EBITDA and a stable equity ratio are also expected.

Corporate News can be found 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 2017 financial year, 2.3 million patients were treated in the Asklepios Group's facilities. The company has more than 47,000 employees.

IR Contact
Mirjam Constantin
Investor Relations
Asklepios Kliniken GmbH & Co. KGaA
Debusweg 3
61462 Königstein-Falkenstein
Tel: +49 61 74 90-1166
Fax: +49 61 74 90-1110
ir@asklepios.com

PR Contact:
Rune Hoffmann
Group Head of Corporate Communications & Marketing
Asklepios Kliniken GmbH & Co. KGaA
Rübenkamp 226
22307 Hamburg
Tel.: +49 40 1818-82 6630
Fax: +49 40 1818-82 6639
presse@asklepios.com

Visit Asklepios on its website, Facebook, or YouTube:
www.asklepios.com
www.asklepios.com/ir
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www.youtube.com/asklepioskliniken