MediClin AG: Massive loss of earnings due to corona pandemic - outlook 2021 afflicted with uncertainties - effective protective shield is necessary
DGAP-News: MediClin AG
/ Key word(s): Annual Results
Offenburg, March 26, 2021
MEDICLIN AG: Massive loss of earnings due to corona pandemic - outlook 2021 afflicted with uncertainties - effective protective shield is necessary
In the financial year 2020, Group sales of the MEDICLIN Aktiengesellschaft (MEDICLIN) amounted to EUR 659.9 mill., EUR 13.2 mill., or 2.0 % below the previous year's figure. Consolidated operating profit fell to EUR 0.2 mill., compared to EUR 22.4 mill. in the previous year. MEDICLIN has thus achieved the revised targets for the 2020 financial year.
As far as the forecast for 2021 is concerned, this is based on the findings of the previous year in terms of sales and earnings development. MEDICLIN expects the full year 2021 to be similar to that of 2020, but this depends on the pandemic, in particular its duration compared to the 2020 financial year, and the state protective shield benefits in 2021.
"In order for us to continue to perform our supply mission well during the pandemic, we need binding commitments from politicians. The existing protective shield services for the rehabilitation sector must be extended and adapted to the losses and the actual additional restrictions," said Volker Hippler, CEO of the company. He added: "We call on the Federal Government to take rehabilitation into account in the current legislative process. Rehabilitation does an enormous job in restoring health and ability to work, which can currently be seen in the treatment of post-COVID symptoms."
"The previous compensation payments for pension insurance companies are insufficient and payments from the statutory health insurance funds have been significantly reduced for the year 2021," explained Tino Fritz, Chief Financial Officer of MEDICLIN. "We are working hard to raise the occupancy in our rehab clinics back to the usual high level of previous years. The confidence that the coverage providers and referring physicians have in our performance is also decisive and helpful here - but not only," he added.
For the acute sector, too, the protective shield benefits provided in the draft "Regulation regulating further measures for the economic protection of hospitals" are not sufficient. The compensation measures for the acute hospitals provided for in it are based on the revenue structures of the pre-Corona year 2019, but not in full. In addition, the huge increase in costs in 2020 to protect patients and staff is not taken into account at all. This will force institutions to make drastic cuts on the cost side in the midst of the pandemic.
The pandemic has left its mark on business development
The effects of the Corona pandemic have left their mark on MEDICLIN's business development in 2020, despite the state protective shield and the compensations of the coverage providers. Capacity was kept free, especially in the first half of 2020, for Corona patients in both acute homes and rehabilitation facilities. A slowly ramp-up of capacity under strict hygiene regulations caused capacity utilization to increase somewhat in the second half of the year.
Towards the end of 2020, capacity utilisation fell again due to rising infection numbers. At the end of the year, the high number of people infected and the general reluctance of the population to undergo acute treatment in the current situation had a dampening effect on the capacity utilization in the rehabilitation clinics.
Higher expenditure on protective materials, for the implementation of stricter hygiene regulations, for spatial isolation of Corona patients and other precautionary measures have weighed heavily on the result and have only been partially compensated by additional increases from the payers.
Fewer patients in the Postakut - nursing care business area stable
In the post-acute segment, sales fell by EUR 23.0 mill., or 5.5 %, to EUR 393.7 mill. The segment result is EUR 4.8 mill. In the acute segment, sales of EUR 248.7 mill. were EUR 12.1 mill., or 5.1 % higher than in the previous year. The segment result is EUR -1.5 mill. The segment result is burdened by a one-off loss of EUR 1.4 mill. resulting from a book value write-down resulting from the sale of MediClin Krankenhaus am Crivitzer See GmbH. The nursing care business area generated sales of EUR 15.8 mill.
Solid financial structure
In the 2020 financial year, EUR 26.6 mill. (previous year: EUR 48.2 mill.) was invested in the investment assets (gross). EUR 16.1 mill. (previous year: EUR 17.5 mill.) was spent on maintenance and repair. Cash and cash equivalents at the end of the year were above the previous year's level, mainly due to saving measures, deferred investments and liquidity inflows under the protective shield. The equity ratio accounted for 19.9 % at the balance sheet date (31.12.2020: 21.2 %).
Number of employees increased slightly in 2020
The average number of full-time employees in 2020 was 7,471 full-time (previous year: 7,431 full-time employees). The average number of trainees in the year under review was 361 (previous year: 328 trainees).
The Annual Report 2020 is available from today on at https://www.mediclin.de/investor-relations/finanzpublikationen/ in German and English
Über die MEDICLIN Aktiengesellschaft (Ticker: MED; WKN: 659 510)
Zu MEDICLIN gehören 35 Kliniken, sieben Pflegeeinrichtungen und zehn Medizinische Versorgungszentren. Die Gruppe verfügt über rund 8.350 Betten/Pflegeplätze und beschäftigt rund 10.300 Mitarbeiter. In einem starken Netzwerk bietet MEDICLIN dem Patienten die integrative Versorgung vom ersten Arztbesuch über die Operation und die anschließende Rehabilitation bis hin zur ambulanten Nachsorge. Ärzte, Therapeuten und Pflegekräfte arbeiten dabei sorgfältig abgestimmt zusammen. Die Pflege und Betreuung pflegebedürftiger Menschen gestaltet MEDICLIN nach deren individuellen Bedürfnissen und persönlichem Bedarf.
MEDICLIN ─ ein Unternehmen der Asklepios-Gruppe.
26.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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