MEDICLIN achieves consolidated Group sales of EUR 730.1 million in 2023 - outlook for 2024 is positive

Offenburg, 26 March 2024

MEDICLIN achieves consolidated Group sales of EUR 730.1 million in 2023 - outlook for 2024 is positive

MEDICLIN Aktiengesellschaft (Ticker: MED; WKN 659 510) has published its financial figures for 2023 today. At Group level, sales of EUR 730.1 million were achieved, an increase of 3.6% compared to 2022. At EUR 12.7 million, the Group operating result was EUR 6.8 million below the previous year's figure (2022: EUR 19.5 million) due to a one-off effect. The outlook for 2024 is positive due to stable capacity utilisation rates.  

"The difficult industry environment has challenged us in 2023 and will continue to do so, at least for the foreseeable future. Nevertheless, we have had a strategically successful year. We have created and driven forward ideas so that MEDICLIN is ideally positioned for the future through the outpatientisation and digitalisation of rehabilitation, our core competence," comments Dr Joachim Ramming, CEO of MEDICLIN. He adds: "We want to become Germany's leading rehabilitation provider. The optimisation of our portfolio plays an important role in this. Just last Friday we announced the intended purchase of a rehabilitation facility in Bremen."

Developments in the segments and the nursing care business area

At € 451.2 million, sales in the post-acute segment were € 19.9 million or 4.6% higher than in the previous year. Sales include services from the protective shield totalling EUR 7.4 million, which is less than in 2022 (EUR 11.7 million). The post-acute segment was also negatively impacted in 2023 by the lack of revenue from the closed clinic in Bad Peterstal (MEDICLIN Schlüsselbad Klinik). If the post-acute segment is considered without the two aforementioned effects in both comparative years, sales of EUR 443.8 million would be generated in 2023 (2022: EUR 413.9 million). This would correspond to an increase of 7.2 %.

The operating result of 52.7 million euros in the post-acute segment corresponds to an increase of 31.5 million euros or 148.1 % compared to the previous year (21.2 million euros). In particular, the lower amortisation of right-of-use assets due to the premature renewal of rental agreements had a positive effect here. Excluding the effects of protective shield payments and the closure of the Bad Schlüsselbad clinic in both comparative years, this would correspond to an increase of 32.7 million euros or 208.9 %.

Sales in the acute segment totalled EUR 254.0 million, an increase of EUR 1.3 million or 0.5% compared to the previous year. Sales in the reporting year do not include protective shield services. In the previous year, these totalled 5.2 million euros. There were also sales effects in 2023 from the change in the scope of consolidation due to the sale of Robert Janker Klinik and MVZ Bonn in April 2023. If the acute segment is considered without the two above-mentioned effects in both comparative years, sales of EUR 249.9 million would be generated in 2023 (2022: EUR 234.1 million). This would correspond to an increase of 6.7 %.

The acute segment generated an operating result of EUR -39.9 million (previous year: EUR -4.4 million). The segment's operating result was significantly impacted by the one-off effect of goodwill impairment for three facilities totalling EUR 33.1 million. In addition, the lack of protective shield payments had a negative impact in the reporting year compared to the previous year (2022: EUR 5.2 million). By contrast, the change in the scope of consolidation, namely the sale of the Robert Janker Klinik and the MVZ Bonn, had a positive effect on the segment operating profit. If the segment's operating result is considered without the three effects mentioned in both comparative years, it would correspond to an operating increase by EUR 4.4 million.
Sales in the nursing care business area, which is allocated to the Other Activities segment, rose to EUR 21.3 million in the reporting year (previous year: EUR 18.7 million), while the business area's operating result totalled EUR 0.2 million after EUR -1.0 million in the previous year.

Tino Fritz, CFO of MEDICLIN, says: "MEDICLIN's operating performance becomes clear when distorting effects such as protective shielding payments, changes in the scope of consolidation or one-off effects such as the impairment of goodwill in the acute segment are adjusted" and adds: "We ended 2023 with really good occupancy rates. What we are seeing is a stabilisation of occupancy rates, even if they are still not completely at the level they were before the coronavirus pandemic, this is a clear sign that things are moving in the right direction."

Outlook 2024

The stable capacity utilisation rates make the Management Board optimistic about the business outlook for 2024. The Executive Board anticipates sales growth for the Group of 3.0% to 5.0%. Group EBIT is expected to be between 38.0 million euros and 46.0 million euros.

You can find the 2023 Annual Report on our website under Investor Relations.


For further information:

MEDICLIN Aktiengesellschaft
Okenstrasse 27
77652 Offenburg

Investor Relations
Ender Gülcan, CIIA, CESGA
Phone: 0781/488-326
Fax: 0781/488-184
ender.guelcan@mediclin.de


Public Relations
Dr Janina Lossen
Phone: 0781/488-180
janina.lossen@mediclin.de

www.mediclin.de


About MEDICLIN Aktiengesellschaft (Ticker: MED; WKN: 659 510)
MEDICLIN includes 32 clinics, six care facilities and ten medical care centers. The Group has around 8,300 beds/care places and employs around 10,000 people. In a strong network, MEDICLIN offers the patient integrative care from the first visit to the doctor through the operation and subsequent rehabilitation to outpatient aftercare. Doctors, therapists and nurses work together in a carefully coordinated manner. MEDICLIN designs the care and support of people in need of care according to their individual needs and personal needs.

MEDICLIN ─ a company of the Asklepios Group