EANS-News: Annual accounts 2011/2012: Marseille-Kliniken AG improves profitability
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Financial Figures/Balance Sheet Subtitle: - EBIT with EUR 10.9 million almost doubled - Group income increases by more than 124% to EUR 6.5 million - Occupancy rate increased to 88.9%, but still has potential for improvement - Internal reorganization shall be continued in order to further strengthen profitability Hamburg (euro adhoc) - Marseille-Kliniken AG could significantly improve its results in business year 2011/2012 (1 July 2011 - 30 June 2012). Based on an increase in revenues from EUR 190.0 million (2010/2011) to EUR 195.1 million EBIT increased from EUR 5.7 million (2010/2011) to EUR 10.9 million. With a change from EUR 2.9 million (2010/2011) to EUR 6.5 million group income attributable to shareholders improved even stronger. In the course of these developments also the equity ratio increased from 17.1% (2010/2011) to 19.5%. "Last business year has demonstrated the success of our strategic reorganization which has been the basis for the improved earnings and financial power" says Michael Thanheiser, chairman of Marseille-Kliniken AG. The turnaround which has already been initiated in the previous business year has been continued with these results, as the realignment of the group's strategy is the basis for the improved cost efficiency. The strategy consists of focusing on the core business nursing care in the segments inpatient and outpatient, strengthening of quality leadership and initiation of a decentralized management structure. As a result of these measures the company achieved improvements on all earnings figures. Occupancy rate increased by 1.8 percentage points to 88.9% at a sales capacity of 7,915 beds. Revenue thereby increased by 2.7% to EUR 195.1 million. EBITDAR increased by 5.6% to EUR 54.8 million, EBITDA by 28.5% to EUR 17.6 million and EBIT by 91.2% to EUR 10.9 million. EBIT margin correspondingly improved by 2.6 percentage points to 5.6%. Group income attributable to shareholders increased by 124% to EUR 6.5 million which causes earnings per share of EUR 0.45 (previous year: EUR 0.20) based on the 14.46 million outstanding shares. Reasons for this disproportionately large development were low taxes on income and an almost constant financial result. Extraordinary items balanced to EUR -0.8 million caused only a minor effect on the financial accounts. Operational improvements in business year 2011/2012 were in particular achieved at facilities which previously had a capacity utilization below average. By targeted measures the occupancy rates could be increased at these locations. With the improvements realized in bed occupancy rate the company however has an average vacancy rate of more than 10%. Further improvements in this respect will access a potential on profitability in the future. The general skills shortage in Germany thereby hinders the company from rapidly improving capacity utilization. Therefore specific measures for recruitment of new and binding of existing personnel have been initiated. The group has recently expanded its management capacities, as firstly the contract with chairman Michael Thanheiser was prolonged until 31 March 2017 and secondly with Dieter Wopen another member of the management board was newly appointed starting on 15 November 2012. Michael Thanheiser comments the existing figures as follows: "We are pleased with the achieved results as they correspond with our previously announced expectations. Also the current situation in our company's operational business confirms our ambition to achieve continued and sustainable increases in earnings for the future. I am looking forward for the future collaboration with Dieter Wopen, as his appointment will further strengthen our competencies for the nursing care business on management level. We will particularly focus on the reduction of vacancies and staffing issues against the background of the existing skills shortage in the German healthcare sector." For the current business year 2012/2013 Marseille-Kliniken AG expects an increase in EBIT and revenues slightly above previous year's level. The complete annual report 2011/2012 such as additional shareholders' information is available for the public in the investor relations section of the company's website at www.marseille-kliniken.com. -- End of corporate news -- About Marseille-Kliniken AG: Marseille-Kliniken AG (ISIN DE0007783003, WKN 778300, MKA) with its 57 residential care facilities, three residential units for assisted living and about 4,700 employees is a market leading listed company on health care in Germany. The business model is significantly influenced by the demographic development. Therefore Marseille-Kliniken AG has a secured future. Short-term economic fluctuations on the other hand exert only a minor influence. As a consistently modern company with strong focus on quality, the private enterprise is in a good position within a competitive environment primarily characterized by regionally active charities. Further inquiry note: Hillermann Consulting Jan Pahl Investor Relations for Marseille-Kliniken AG Poststraße 14-16 20354 Hamburg Germany Tel.: +49-(0)40 / 3202791-0 www.marseille-kliniken.com end of announcement euro adhoc -------------------------------------------------------------------------------- company: Marseille-Kliniken AG Alte Jakobstraße 79/80 D-10179 Berlin phone: +49 (0)30 246 32-400 FAX: +49 (0)30 246 32-401 mail: info@marseille-kliniken.de WWW: http://www.marseille-kliniken.de sector: Pharmaceuticals ISIN: DE0007783003 indexes: CDAX, Classic All Share, Prime All Share stockmarkets: free trade: Berlin, Düsseldorf, Stuttgart, regulated dealing: Hamburg, regulated dealing/prime standard: Frankfurt language: English
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