RHÖN-KLINIKUM AG publishes result for first half of 2023 – outlook confirmed

At 45.2 million euros, EBITDA fell short of the previous year’s level (2022: 52.8 million euros). Materials and consumables used increased as a result of higher purchasing prices to 237.0 million euros (2022: 214.0 million euros). Taking account of depreciation/amortisation, financing costs and taxes, EBITDA results in a consolidated profit of 12.2 million euros (2022: 12.8 million euros).

The key figures of the first six months are influenced by two main developments: on the one hand, by the still persisting inflation, coping with the impacts of higher energy and commodity prices, as well as the geopolitical risks brought about by the war in Ukraine. On the other hand, by a weekslong strike at Universitätsklinikum Gießen und Marburg (UKGM) early this year, which resulted in massive cuts in outpatient and inpatient care.

Now that UKGM and the trade union ver.di on 14 April 2023 reached agreement on a key issues paper for the conclusion of a “job protection and relief collective agreement for UKGM and UKGM Service GmbH”, efforts are now successfully being turned towards overcoming the economic consequences of the strike.

This will enable us to seize the opportunities arising from an agreement signed at the end of February 2023 between the Federal State of Hesse, the Universities of Giessen and Marburg, Universitätsklinikum Gießen und Marburg (UKGM) and RHÖN-KLINIKUM AG on UKGM’s entitlement to investment funding. After RHÖN-KLINIKUM AG already in the past had invested over 750 million euros at UKGM from own funds, the next ten years will now see further amounts totalling nearly 850 million euros being invested in healthcare delivery, research and teaching. At the same time, federal state funding totalling roughly 529 million euros coupled with investments of roughly 319 million euros from own funds will enable the two hospitals to keep pace with medical, technical and structural developments in order to continue providing cutting-edge university medical care also in future.

Outlook

For the current financial year 2023 we continue to expect revenues of 1.5 billion euros within a range of +/- 5 per cent. For earnings before interest, tax and depreciation/amortisation (EBITDA), we expect a level of between 103 million euros and 109 million euros.

The outlook is further subject to considerable uncertainties in connection with the geopolitical risks brought about by the war in Ukraine and any regulatory measures impacting our remuneration structure in 2023.

Full results are published in the Half-Year Report at: https://en.rhoen-klinikum-ag.com/…. html