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Marseille-Kliniken AG

euro adhoc: Marseille-Kliniken AG
Financial Figures/Balance Sheet
- Turnover increase in first half-year 2008/2009 to EUR 116.8 million - Both segments generating positive contributions to income - Positive development in occupancy expected for se

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6-month report

10.02.2009

Berlin, 10 February 2009. Marseille-Kliniken AG was able to continue to increase operating turnover in the first half of the current financial year (1 July 2008 - 31 December 2008) by 4.2 % to EUR 116.8 million (previous year: EUR 112.1 million). As expected Group net income after minority interest fell from EUR 12.1 million to EUR 1.0 million as a result of one-time effects (EUR 11.9 million) incurred in the previous year. This translates into earnings per share of EUR 0.08 compared to EUR 1.00 in the previous year. EBIT/IFRS amounted to EUR 4.2 million as planned after EUR 12.5 million including one-time effects in the previous year. EBITDAR/IFRS reached EUR 31.7 million, previously EUR 37.0 million. Equity amounted to EUR 80.8 million after EUR 84.5 million in the previous year. The equity ratio increased to 35.5 % (previous year: 33.8 %), while net debt dropped slightly from EUR 66.4 million to EUR 65.9 million.

The drop in results according to German Commercial Code can be mainly attributed to an extraordinary gain in the previous year, which back then consisted of EUR 4.9 million from the corporation tax reform 2008 as well as EUR 8.1 million from the sale of a real estate asset. These and similar one-time effects were not recorded in the period under review.

Adjusted earnings according to DVFA/SG (IFRS) reached EUR 6.6 million in the previous period and dropped slightly in the period under review to EUR 6.2 million. Per share this amounts to EUR 0.51 (previous year: EUR 0.54). This was mainly attributable to increased costs for securing heating oil prices, higher expenses for personnel recruitment as well as audit costs. Adjusted EBITDAR increased from EUR 31.5 million in the previous year to EUR 32.7 million, while adjusted EBIT came in at EUR 9.0 million in the period under review after EUR 10.0 in the previous year. At group level occupancy continued at high levels, with capacity being increased by 200 beds. Occupancy for the 9,100 beds reached 92.4 % (previous year: 92.5 % at 8,899 beds). Adjustments are mainly due to start up expenses for seven Care facilities with currently 781 beds (8.6 % of capacity) as well as four facilities, which are not yet operational, and a medical centre in the Rehabilitation segment only taken over in mid 2008.

Capacity in the Care segment increased from 7,616 beds to 7,771 beds in the period under review. Turnover in the segments increased from EUR 86.8 million in the previous year to EUR 90.5 million. Earnings according to DVFA/SG (IFRS) reached EUR 5.1 million (previous year: EUR 6.6 million) were negatively impacted by expenses for securing heating oil prices, personnel recruitment costs and audit costs. Including the Düsseldorf and Potsdam facilities occupancy in Care came in at 92.7 % after 93.6 % in the previous year.

The segment Rehabilitation developed very positively. In the period under review its capacity increased slightly to 1,329 beds (previous year: 1,283 beds) on the back of commissioning more beds in Schömberg. Turnover generated increased from EUR 25.4 million in the previous year to EUR 26.3 million. Earnings according to DVFA/SG (IFRS) improved to EUR 1.1 million after previously breaking-even. Restructuring measures continue to be successful and occupancy at the segment improved from 89.1 % to 92.5 %.

As a result, Marseille-Kliniken AG continues to be heading towards the set targets. The company is on a sound track which is almost untouched by the currently difficult economic situation. This will allow further sustained growth and at the same time means that the company can make reliable plans for the development of its business. We are expecting to see improvements in occupancy levels in Care, while Rehabilitation will sustain its high occupancy levels. In Q3 Marseille-Kliniken will continue to benefit from falling start-up expenses, which will have a positive impact on future quarterly results. Tapping cost-saving potential in the current financial year is to bring about a further improvement in profitability. Against this backdrop, the Management Board is maintaining its growth forecast of a 6.5 % average for the current and the next financial year as well as EBIT return of at least 7 % for the current financial year.

For more detailed information, please visit the website www.marseille-kliniken.com to read the half-year report.

End of ad hoc release

end of announcement                               euro adhoc
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Further inquiry note:

Marseille-Kliniken AG
Axel Hölzer
CEO
Alte Jakobstraße 79/80
10709 Berlin
Germany
Tel.: +49 30 / 246 32-400
Fax: +49 30 / 246 32-401
www.marseille-kliniken.com ;

Hillermann Consulting
Christian Hillermann
Investor Relations for Marseille-Kliniken AG
Poststraße 14/16
20354 Hamburg
Germany
Tel.: +49 40 / 320 279 10
Fax: +49 40 / 320 279 114
www.hillermann-consulting.de

Branche: Pharmaceuticals
ISIN: DE0007783003
WKN: 778300
Index: CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hamburg / regulated dealing

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