Bad Neustadt a. d. Saale, 12 April 2012 --- At Universitätsklinikum Gießen und Marburg, income from agreed cost allocations with the medical faculties for already incurred expenses (“separate accounting“) is being delayed from which a positive EBITDA contribution in the single-digit euro million range had been targeted in the first quarter. Moreover, the earnings situation in Gießen and Marburg has been influenced over the past weeks by the following factors: Firstly, the trend in service volumes at both sites was roughly 9 % in the first quarter of 2012, well exceeding the figures that had been targeted internally by RHÖN-KLINIKUM AG. However, pursuant to section 4 of the German Hospital Financing Act (Krankenhausentgeltgesetz, KHG), such expansions in service volumes are remunerated at steep “discounts on additional volumes” of up to 65 %. Since such additional service volumes at the same time entail additional costs, a significant expansion in service volumes may also have diluting effects on margins and earnings in the first quarter. Depending on the outcome of the budget negotiations at the individual facilities, backlog revenue effects resulting from the subsequent higher valuation of surplus service volumes already rendered (but which then would not be diminished by additional costs) may occur in the further course of the year. The claims of the health insurance funds regarding the remuneration discount on agreed additional service volumes are currently well above our original expectation of 30 %. At the same time, the restructuring of costs in the personnel area planned in Gießen and Marburg was recently delayed.
In view of these developments and given the high significance of Universitätsklinikum Gießen und Marburg for the Group, the Q1 result of RHÖN-KLINIKUM AG will be diminished within a range of roughly EUR 5 million to EUR 9 million. However, since the targeted positive earnings contributions – particularly from the separate accounting – will merely be deferred to the subsequent quarters, there will be no impact on the full-year revenue and earnings targets. RHÖN-KLINIKUM AG therefore confirms its revenue and earnings expectations for financial year 2012 as follows:
For 2012 including the targeted revenue and earnings contributions of Dr. Horst Schmidt Kliniken (HSK) , RHÖN-KLINIKUM AG expects revenues of EUR 2.85 billion which may fluctuate within a range of plus or minus 2.5 %. This revenue target is accompanied by a forecast for EBITDA of EUR 350 million and for net consolidated profit of EUR 145 million – in each case influenced by a negative earnings contribution from the HSK consolidation and subject to a fluctuation range of plus or minus 5 %.
The Board of Management