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PRESS RELEASE: RHÖN-KLINIKUM AG concludes the -2-

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PRESS RELEASE: RHÖN-KLINIKUM AG concludes the first six months of 2020 with increased revenues - Huge contribution towards fighting COVID-19 pandemic - Strategic partnership with Asklepios



DGAP-News: RHÖN-KLINIKUM Aktiengesellschaft / Key word(s): Half Year
Results/Miscellaneous
RHÖN-KLINIKUM AG concludes the first six months of 2020 with increased
revenues - Huge contribution towards fighting COVID-19 pandemic - Strategic
partnership with Asklepios

2020-08-06 / 07:00
The issuer is solely responsible for the content of this announcement.

*Corporate News*

Bad Neustadt / Saale | 6th August 2020

*RHÖN-KLINIKUM AG concludes the first six months of 2020 with increased
revenues - Huge contribution towards fighting COVID-19 pandemic - Strategic
partnership with Asklepios*

· *First six months of 2020 characterised by our staff's dedication in our
hospitals providing maximum and intermediate medical care in the fight
against COVID-19 as well as takeover by Asklepios Kliniken GmbH & Co.
KGaA*

· *Number of patients decreased by 8.8 percent to 394,558 with reduction
especially due to fewer elective treatments because of COVID-19*

· Revenues rose by 4.1 percent to Euro 670.5 million; EBITDA sank to Euro
35.5 million following Euro 60.9 million in the same period last year; net
consolidated profit fell to Euro - 3.7 million after Euro 20.5 million in
the first six months of 2019; transaction expenditure of approx. Euro 7.7
million as well as Euro 2.3 million for agreement with a former board
member, negative effects from COVID-19 and nursing care regulation as well
as one-off positive effects from the previous year's period influenced the
reported period

· *Board of Management and Supervisory Board wish to propose to ordinary
Annual General Meeting on 19th August 2020 to refrain from paying out a
dividend for financial year 2019*

· *Guidance for 2020 subject to COVID-19 effects: Revenues in the amount
of Euro 1.4 billion +/- 5 percent; EBITDA in a range of Euro 72.5 million
to Euro 82.5 million*

RHÖN-KLINIKUM AG undertook huge efforts to overcome the medical and
economic challenges of the COVID-19 pandemic in the first six months of the
current financial year. Prof. Dr. Bernd Griewing, Medical Member of the
Board of Management of RHÖN-KLINIKUM AG, stated: "Whether our patients
were suffering from COVID-19 or other ailments, we were able to maintain our
excellent level of medical care for all our patients at RHÖN-KLINIKUM
AG in this exceptional situation. We were able to maintain sufficient
capacity for medical emergencies even during the peak of the pandemic. This
was only possible because we were already well prepared for the COVID-19
pandemic at an early stage. Now we are making every effort to exit our
crisis mode and return to our normal working routine. We proved in the
pandemic that we were able to react quickly to rising numbers of COVID-19
patients and we shall therefore also be able to bear our responsibilities in
the event of a possible second wave."

*Strong Partnership with Asklepios - RHÖN-KLINIKUM AG Remains an
Independent Enterprise*

Apart from the COVID-19 pandemic, the first six months of 2020 were also
characterised by the takeover of RHÖN-KLINIKUM AG by Asklepios Kliniken
GmbH & Co. KGaA. Asklepios completed the voluntary public takeover offer to
the shareholders of RHÖN-KLINIKUM AG which was announced on 28th
February 2020 and published on 8th April 2020. Together with corporate
founder Eugen Münch, Asklepios and Dr. Bernard große Broermann now hold
approx. 93.38 percent of RHÖN-KLINIKUM AG shares with voting rights.
RHÖN-KLINIKUM AG directly holds another 24,000 of its own shares.

Dr. Gunther K. Weiss, Operative Member of the Board of Management of
RHÖN-KLINIKUM AG, stated: "The Board of Management of
RHÖN-KLINIKUM AG welcomes the new partnership with Asklepios. With our
five sites providing maximum and intermediate medical care we shall continue
to remain an independent and listed enterprise under the roof of the
Asklepios Group. RHÖN and Asklepios will strategically complement each
other. Together with Asklepios we can drive on the further development of
our avantgarde concepts for healthcare, such as the RHÖN campus model
which we have already implemented in Bad Neustadt, and exploit potential
synergies as well as continue the consistent digitalisation of our hospitals
in a resolute manner. The intention of the strategic partnership is to
obtain the best from both companies. Patient care and the associated
investment potential will be the first to benefit. We wish to assume a
position of strength in the hospital industry which is currently facing huge
challenges due to the increasing regulatory and demographic framework
conditions."

*University Hospitals as a Medical Lighthouse Project*

In our strategic partnership with Asklepios our two university hospitals in
Giessen and Marburg (UKGM) which have a long and successful tradition and
belong to the best university hospitals in Germany from a medical and
scientific as well as economic perspective will assume a key position.
Together they are Germany's third largest university hospital. As a private
hospital operator RHÖN-KLINIKUM AG has invested over Euro 680 million
from its own funds since the privatisation of the university hospitals in
Giessen and Marburg in 2006.

*First Six Months of 2020 Characterised by Special Influences*

In the first six months revenues rose by 4.1 percent to Euro 670.5 million
in comparison with the same period last year. At Euro 35.5 million EBITDA
remained under last year's level of Euro 60.9 million. The EBITDA margin
amounted to 5.3 percent. After Euro 20.5 million last year net consolidated
profit of Euro - 3.7 million stemmed from EBITDA taking depreciation,
financing costs and taxes into account.

The lower financial results compared with last year are mainly characterised
by one-off positive effects from the previous year in connection with
dissolving provisions for legal and tax risks in the amount of Euro 15.3
million and effects from the agreement on revenues from university
out-patient clinics in the amount of Euro 6.7 million after profit-sharing.
The figures for the first six months of 2020 also include transaction
expenses in the amount of Euro 7.7 million and Euro 2.3 million for the
severance agreement with a former Member of the Board of Management. The
lower performance figures are offset by reimbursements in the amount of Euro
51.6 million as a result of COVID-19 legislation. We treated 394,558
patients in the reported period. That was 8.8 percent less than in the same
period last year and especially due to fewer elective services being
rendered.

*Changes in the Board of Management*

In the first six months of 2020 there were changes in the Board of
Management in connection with the takeover by Asklepios. On 22nd June 2020
Stephan Holzinger, CEO of RHÖN-KLINIKUM AG, resigned from his position
as a Member of the Board of Management and from his other positions with
immediate effect. Dr. Gunther Weiss and Prof. Dr. Bernd Griewing will carry
out the tasks of the Board of Management together until a new Board Member
is appointed.

*Dividend*

Against the background of the economic challenges and the continued
uncertainties regarding the further effects of the COVID-19 pandemic, the
high compensation payments of hitherto Euro 51.6 million (as of 30th June
2020) and the financial burdens on our earnings and liquidity from the
public takeover offer, the Board of Management of RHÖN-KLINIKUM AG will
propose in the ordinary Annual General Meeting taking place on 19th August
2020 to refrain from paying out a dividend this year.

*Unchanged Guidance*

We continue to expect revenues in the amount of Euro 1.4 billion +/- 5 % for
the current financial year 2020. We also continue to expect earnings before
interest, taxes, depreciation and amortisation (EBITDA) in the range of Euro
72.5 million to Euro 82.5 million.

It is still currently not yet possible with sufficient probability to give a
final assessment of the effects of the COVID-19 pandemic on our core
business. This is mainly because it is currently still unclear to what
extent the respective federal states are prepared to give hospitals
financial support. Against this background our planning is therefore subject
to the effects of the COVID-19 pandemic.

**

*RHÖN-KLINIKUM AG* is one of the largest healthcare providers in
Germany. The hospital group offers excellent medical care with a direct link
to universities and research institutes. Over 860,000 patients are treated
every year at the five group hospitals located in Bad Berka, Bad Neustadt,
Frankfurt (Oder), Giessen and Marburg where more than 18,000 employees work.
RHÖN-KLINIKUM AG is currently exploiting the opportunities available to
develop new areas of growth. Entering the forward-looking telemedicine
market with Medgate Deutschland, the innovative RHÖN campus concept for
offering avantgarde healthcare across sectoral boundaries in rural areas as
well as consistently extending our gradual corporate digitalisation are key
pillars of the corporate strategy.

More information under www.rhoen-klinikum-ag.com [1]

Interim Report H1/2020
https://en.rhoen-klinikum-ag.com/interim-reports [2]

*Follow us:*

www.twitter.com/rhoenklinikumag [3]

www.xing.com/companies/rhön-klinikumag [4]

www.youtube.com/rhönklinikumag [5]

Contact Persons:

RHÖN-KLINIKUM AG | Head of Corporate Communications and Marketing
Elke Pfeifer
Telephone: +49 9771 65-12110 | E-Mail: elke.pfeifer@rhoen-klinikum-ag.com

RHÖN-KLINIKUM AG | Head of Investor Relations and Treasury
Julian Schmitt
Telephone: +49 9771 65-12250 | E-Mail: julian.schmitt@rhoen-klinikum-ag.com

RHÖN-KLINIKUM AG | Schlossplatz 1 | 97616 Bad Neustadt / Saale, Germany

2020-08-06 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.

(MORE TO FOLLOW) Dow Jones Newswires

August 06, 2020 01:00 ET ( 05:00 GMT)


The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: RHÖN-KLINIKUM Aktiengesellschaft
Salzburger Leite 1
97616 Bad Neustadt a.d.Saale
Germany
Phone: +49 (0)9771 - 65-0
Fax: +49 (0)9771 - 97 467
E-mail: rka@rhoen-klinikum-ag.com
Internet: www.rhoen-klinikum-ag.com
ISIN: DE0007042301
WKN: 704230
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Hanover, Stuttgart, Tradegate Exchange
EQS News ID: 1111365

End of News DGAP News Service

1111365 2020-08-06


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August 06, 2020 01:00 ET ( 05:00 GMT)
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