EANS-Adhoc: - Development of earnings in financial year 2008/2009 falls short of expectations due to one-time effects - Occupancy rate remains at high level of 92.5 % - First quarter of 2009/2010 shows extremely positive development in turnover and ear
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
annual report
30.10.2009
Berlin, 30 October 2009. Marseille-Kliniken AG (Prime Standard, ISIN DE 0007783003, MKA) was able to increase operating turnover as planned by 3.2 % to EUR 235.5 million (previous year: EUR 228.1 million) according to audited figures for the financial year 2008/2009 (1 July 2008 - 30 June 2009). However, Group net income after minority interest decreased from EUR 13.7 million in the previous year to EUR -13.5 million. This correlates to earnings per share of EUR -1.12 against EUR 1.13 last year. EBIT/IFRS fell considerably short of the company´s expectations, amounting to EUR -6.8 million after being reported at EUR 22.5 million including one-time effects in the previous year. EBITDAR was down from EUR 73.8 million to EUR 50.6 million year-on-year. Equity fell from EUR 82.5 million to EUR 62.6 million, which represents an equity ratio of 27.6 % after the previous year´s 34.2 %. Net debt amounted to EUR 74.3 million against EUR 68.1 million in the previous financial year.
However, comparing current earnings figures with those of the previous financial year only has limited significance. In the previous year, the Group generated an extraordinary gain from the sale of property worth EUR 19.6 million as well as from the reversal of deferred tax obligations recorded in profit or loss amounting to EUR 4.9 million as a result of the corporate tax reform act 2008. This year´s earnings were also negatively hit to the tune of EUR 8.6 million from one-off write-downs on fixed assets and receivables (EUR 4.1 million), process costs (EUR 1.1 million), tax audits (EUR 2.0 million) and additional non-recurring items (EUR 1.4 million).
In the financial year 2008/2009, earnings in operations were also impacted considerably stronger than in the previous year. This mainly stemmed beside start up costs for expansion facilities from increased expenses for energy (EUR 1.8 million) and personnel recruitment as well as the valuation of pension provisions result (in total EUR 2.7 million).
Adjusted Group net income according to DVFA/SG (IFRS) amounted to EUR 1.6 million in the period under review (previous year: EUR 11.1 million). Adjusted EBITDAR totalled EUR 55.2 million compared to EUR 62.6 million previously, while adjusted EBIT amounted to EUR 6.8 million against EUR 17.8 million in the previous year.
In spite of capacity increasing by 186 to a total of 9,085 beds, the occupancy rate at Group level remains at a high level of 92.5 % (previous year: 92.4 %). Due to the decline in earnings, at the Annual General Meeting on 18 December 2009 in Berlin the Management Board and Supervisory Board will propose to carry forward net profit to a new account and waive a dividend payment for the financial year 2008/2009.
Marseille-Kliniken AG is publishing the complete financial report for the financial year 2008/2009 today on its website at www.marseille-kliniken.de.
The first quarter of 2009/2010 is developing positively in line with expectations. As a result, the occupancy rate of bed capacities increased to 92.8 % (previous year: 92.6 %). This enabled us to increase turnover in the period under review by 6.4 % from EUR 58.0 million to EUR 61.7 million. The EBIT figure improved by EUR 0.4 million to EUR 3.9 million. This was due to the positive impact of reduced start up losses from expansion facilities as well as cost cutting measures taken for personnel and non-personnel costs. Adjusted EBIT according to DVFA amounts to EUR 5.2 million and is EUR 0.6 million under the figure for the previous year´s period. The EBT figure improved by EUR 0.4 million to EUR 2.9 million. Detailed information can be found in the report on the first quarter that will be published on the company website on 10 November 2009.
End of ad hoc release
Ende der Mitteilung euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Marseille-Kliniken AG
Axel Hölzer
CEO
Alte Jakobstraße 79/80
10709 Berlin
Germany
Tel.: +49 - (0)30 / 246 32-400
Fax: +49 - (0)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 - (0)40 / 320 279-10
Fax: +49 - (0)40 / 320 279-114
www.hillermann-consulting.de
Branche: Pharmaceuticals
ISIN: DE0007783003
WKN: 778300
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hamburg / regulated dealing
Original-Content von: Marseille-Kliniken AG, übermittelt durch news aktuell