02.08.2018
RHÖN-KLINIKUM AG DE0007042301
DGAP-News: RHÖN-KLINIKUM AG: Interim Report for the First Half of 2018: RHÖN-KLINIKUM AG continues successful trend in revenues and earnings
DGAP-News: RHÖN-KLINIKUM AG / Key word(s): Half Year Results/Half Year
Results
RHÖN-KLINIKUM AG: Interim Report for the First Half of 2018: RHÖN-KLINIKUM
AG continues successful trend in revenues and earnings
02.08.2018 / 07:00
The issuer is solely responsible for the content of this announcement.
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Corporate News
Bad Neustadt a. d. Saale | 2 August 2018
Interim Report for the First Half of 2018: RHÖN-KLINIKUM AG continues
successful trend in revenues and earnings
* Patient numbers rise in first half of 2018 by 2.2% to reach 432,317
* Revenues rise from 598.4 million euros in the previous year by 3.6% to
reach 620.2 million euros
* EBITDA posts gain of 1.8% to 51.1 million euros; consolidated profit
grows by 4.1% to reach 17.6 million euros
* New build of RHÖN-KLINIKUM Campus in Bad Neustadt with Centre of
Outpatient Medicine (ZaM) moving ahead apace; inauguration with official
ceremony to be held in December 2018
* RHÖN-KLINIKUM AG confirms revenue and earnings outlook for 2018
RHÖN-KLINIKUM AG, one of the leading healthcare service providers in
Germany, continued its successful trend in the first half of 2018 and once
again reported a rise in revenues and earnings. At the five hospital sites
RHÖN-Campus Bad Neustadt, the two university hospitals Giessen and Marburg,
Zentralklinik Bad Berka and Klinikum Frankfurt (Oder) a total of 432,317
patients were treated during the reporting period. This translates into
growth of 2.2% compared with the same period last year. The top 5 key areas
of treatment are: cardiovascular, neurology, oncology, pneumology,
orthopaedics and trauma medicine - they underscore the Company's position as
an innovative provider of particularly high-quality medical services.
"With the trend in our business figures, we are well on the way to achieving
our targets for revenues and earnings for the current financial year", said
Stephan Holzinger, chairman of the Board of Management of RHÖN-KLINIKUM AG.
"Our biggest project right now, with an investment volume of roughly 250
million euros, is the new build of the RHÖN-KLINIKUM Campus Bad Neustadt. We
are right on schedule and will open in December. On the Campus, where the
focus is even to a greater extent on patients with their individual
conditions thanks to its close integration of outpatient and inpatient care,
we offer a convincing future model having a national impact in terms of
medical-therapeutic healthcare delivery in rural areas. As a driver of
innovation on the German hospital market, we are pursuing the aim of
replicating this approach also in other rural regions. In this regard we are
in initial constructive talks with selected regions."
Revenues and profit up in first half of 2018
Compared with the same period last year, we posted gains in revenues, EBITDA
and consolidated profit. Revenues rose from 598.4 million euros to 620.2
million euros (+ 3.6%), earnings before interest, taxes and
depreciation/amortisation (EBITDA) increased to 51.1 million euros (+ 1.8%).
It has to be underscored that the positive development in EBITDA in the
first six months of financial year 2018 was accompanied by the anticipated
wage increase and staff cuts whose effects were felt particularly during the
second quarter of the current financial year. A burdening factor for
earnings came from the regulatory measures following the Act Reforming the
Structures of Hospital Care (Krankenhausstrukturgesetz, KHSG), such as the
reduction in remuneration for cardiological and specialist orthopaedic
services as well as the fixed cost degression discount applicable since 1
January 2017.
Consolidated profit improved to 17.6 million euros (+ 4.1%). These figures
do not yet reflect the expected positive effect from the agreement reached
with the Federal State of Hesse and the universities of Giessen and Marburg
in the matter of cost reimbursements for research and teaching (separate
accounting). That is because the last condition precedent has yet to be met,
which RHÖN-KLINIKUM AG expects for this autumn. The successful agreement on
separate accounting will have a positive impact on EBITDA in 2018, with a
one-off effect of roughly 20 million euros.
Focus on implementation of campus strategy and digitalisation
To further step up efforts in rolling out the RHÖN Campus strategy to other
locations in Germany, the specialist division of Corporate Development was
created as of 1 June 2018. In close cooperation with the centralised Digital
Transformation department, new potential business models arising from the
opportunities created by digitalisation of telemedicine as well as the
abolition of the ban on distance treatments are being explored. "The focal
point of all strategic plans for us is the well-being of patients, since
they provide the basis for our economic success", said Stephan Holzinger.
RHÖN-KLINIKUM AG offers them excellent medical services.
During the first half of 2018, RHÖN-KLINIKUM AG has been moving head
steadfastly with key digitalisation projects that are to greatly simplify
the daily work of doctors and nursing staff while making the care provided
to patients more efficient and even safer. The one that has reached the most
advanced stage is the Medical Cockpit, an intelligent search engine which
processes the vast amounts of data and information in the form of doctor's
letters, X-ray findings and OR reports and enables the treating medical
staff to gain a faster and more comprehensive overview on a platform. At the
end of 2018, the Medical Cockpit is to be implemented in regular clinical
operations at the new RHÖN-KLINIKUM Campus Bad Neustadt. It is slated to be
rolled out to other hospital sites after being successfully introduced in
Bad Neustadt. Further projects are the electronic patient file developed at
the Company, which over the past months has been adapted even more to the
needs of the hospitals and community-based practitioners, as well as various
telemedical projects and digital anamnesis.
The Group-wide action plan implemented in 2017 to raise profitability and
efficiency is producing further successes. Internal processes in the
cooperation with the Medical Review Board of the Statutory Health Insurance
Funds (MDK) were optimised e.g. through improvements in training and better
documentation quality so as to reduce losses of receivables. Efforts being
made to enable a more efficient use of materials are also producing first
successes: the adjusted cost-of-materials ratio fell for the first time in
years, and in the first half stood at 28.1% after 28.3% in the same period
last year. Moreover, maintenance and service contracts were scrutinised. We
are currently preparing for renegotiations with the providers.
Outlook
For the current financial year 2018, RHÖN-KLINIKUM AG fully confirms the
existing guidance. Revenues of 1.24 billion euros within a range of plus or
minus 5 per cent are expected. Regulatory measures such as lower
remuneration for services entailing high material cost intensity,
particularly in the field of cardiology, or the fixed cost degression
discount on surplus services, have to be taken into account as burdening
factors. For earnings before interest, tax and depreciation/amortisation
(EBITDA), we expect a much higher level compared with 2017 of between 117.5
million euros and 127.5 million euros - which in addition to other effects
is favourably influenced by the agreement on separate accounting at UKGM.
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RHÖN‐KLINIKUM AG is one of the largest healthcare providers in Germany. The
hospital Group offers excellent medical care with a direct link to
universities and research facilities. More than 830,000 patients are treated
every year at the five Group hospitals located in Bad Berka, Bad Neustadt,
Frankfurt (Oder), Giessen and Marburg (UKGM) where approx. 16,700 employees
work. With the RHÖN Campus concept the Company is currently implementing an
innovative and path breaking project that raises fully comprehensive
healthcare in rural areas to a new level of excellence and is geared to the
growing needs of patients. www.rhoen-klinikum-ag.com
Contact:
RHÖN-KLINIKUM AG | Head of Corporate Communications and Marketing
Mrs. Elke Pfeifer
T. +49 9771 65-1327 | [email protected]
RHÖN-KLINIKUM AG | Head of Investor Relations and Treasury
Mr. Julian Schmitt
T. +49 9771 65-1536 | [email protected]
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Language: English
Company: RHÖN-KLINIKUM AG
Salzburger Leite 1
97616 Bad Neustadt a.d.Saale
Germany
Phone: +49 (0)9771 - 65-0
Fax: +49 (0)9771 - 97 467
E-mail: [email protected]
Internet: www.rhoen-klinikum-ag.com
ISIN: DE0007042301
WKN: 704230
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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