German hospital operator Rhoen-Klinikum AG (RHK.XE) Tuesday
revised its 2012 outlook downward, mainly because of problems at
its University Hospital Giessen and Marburg, or UKGM.
MAIN FACTS:
-Rhoen-Klinikum has lowered its forecast for 2012 earnings
before income, taxes, depreciation and amortization by around 20
million euros ($25.6 million).
-The hospital operator now expects 2012 revenues of around
EUR2.85 billion, Ebitda of around EUR295 million, and after-tax
profit of around EUR95 million.
-"A substantial reason for this development is the significant
slowing of growth in the third quarter with regard to in-patient
services as well as revenues at both UKGM sites," the company
said.
-Rhoen-Klinikum expects UKGM to burden results by around EUR15
million.
-In addition, increased demand for external consulting services
with regard to UKGM, the aftermath of the takeover offer by
Fresenius SE (FRE.XE), and changes in its board of management will
further burden results by a mid-range single-digit million euro
amount.
-The company said it has decided on a restructuring plan for
UKGM and the measures will be immediately implemented.
-The plan aims to improve efficiency and productivity and the
board of management is optimistic that the perspective for the
hospital will improve noticeably.
-Rhoen-Klinikum will report third-quarter results on November
8.
-Write to the Frankfurt Bureau at
djnews.frankfurt@dowjones.com
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