Helios Kliniken GmbH
Helios Kliniken GmbH: Financial Report for mid-year 2005
Corporate-news transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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HELIOS Kliniken GmbH Financial Report for mid-year 2005
· Revenue EUR 592.3 m
· Owner’s result EUR 27.1 m
· Further growth without raising capital
· New cash flow figures
Fulda (Germany), Aug. 11, 2005. Revenue of the first two quarters of the
German private hospital chain HELIOS Kliniken GmbH amounts to EUR 592.3 m,
owner’s result to EUR 27.1 m. Due to the – as of yet – not finished hospital
budget negotiations, HELIOS expects a strengthening of the owner’s result in
the second half of the year and therefore adheres to the forecast of EUR 1.2
bn of revenue without acquisitions and an owner’s result of EUR 65 m for the
current fiscal year. The 10 percent increase of revenue compared to the
previous year mainly results from the first full-year consolidation of the
Berlin HELIOS Klinikum Emil von Behring.
Peter Küstermann, CFO HELIOS Kliniken GmbH:
“For the rest of the year, we will turn our attention to some interesting
acquisition opportunities. HELIOS is well financed for the next years and
therefore independent from imponderability of the capital market. This gives
us the necessary financial security to even manage most ambitious
acquisitions. With the voluntary quarterly publication of financial reports,
we want to give more transparency and up-to-date information of our
performance and show how we use our liquid funds, especially for our capital
expenditures.”
The proportion of total expenses in relation to revenue is up marginally on
the previous year. In absolute terms, the result from operation was raised by
EUR 2 m. The EBITDA is with 10.6 percent above the comparison value of 9.7
percent. The days trade receivables outstanding amount to 39 days – more than
7 days better compared to the end of the previous year.
As planned, HELIOS still had a positive net cash position at the end of the
second quarter with excess cover of bank liabilities amounting to EUR 112.4 m.
The company has raised equity by EUR 23.3 m to EUR 392.6 m. Due to the
slightly increased bank loans, the equity ratio was a little below the year-
end level at 37.7 percent.
Length of stay still declining
In the first and second quarter, the HELIOS hospitals altogether treated
168,702 inpatient and 352,615 outpatient cases. The length of stay averaged
7.2 days (Germany 9 days). As a result of the DRG introduction HELIOS expects
a further reduction of the average length of stay as well as an increase and
extension of outpatient treatments.
Austria
As of July 31, 2005, HELIOS terminated the contract for the Kitzbühel hospital
(Austria) and sold the shares back to the minority shareholder, City of
Kitzbühel. Despite of an increase in patient treatments and a cost structure
significantly below the average of the Austrian hospitals, HELIOS could not
realize profit because of a further worsening of the general conditions of
Austrian hospital financing. The burden, arising from the termination of the
engagement, will be booked in the third quarter.
Publication of new financial ratios
The Financial Report 2005 Q2 presents three new cash flow related ratios. The
capex coverage, giving information whether capital expenditures for
maintaining or growing asset value where made with earned funds or on credit;
the net debt payback, as a risk indicator, showing in how many years the net
debt would be repaid by the cash flow; the capital suppliers payments
coverage, being a safety factor for the payments made towards capital
providers.
The Financial Report 2005 Q2 is available on the internet:
www.helios-kliniken.de/finanzen/berichte/2005Q2
With EUR 1.2 billion revenue, HELIOS Kliniken GmbH is one of the major
hospital companies in Germany. At this time, the company owns 24 hospitals
with a capacity of 9,400 beds, including four hospitals for maximum care in
Erfurt, Berlin, Wuppertal and Schwerin. 18,000 employees perform 330,000
stationary patient treatments p.a.
Media contact:
Dr. med. Johann Peter Prinz
Phone: +49 6 61 83 39 – 5 79
E-mail: pprinz@fulda.helios-kliniken.de
End of announcement (c)DGAP 11.08.2005
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WKN: ; ISIN: XF000DGAP009; Index:
Listed:
111209 Aug 05
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