Rhoen Klinikum (RHK) investor relations material

Executive summary

• Revenue for the first nine months of 2025 increased by 7.8% year-over-year to €1,262.1 million, driven by higher inpatient and semi-inpatient treatments and increased state base rates.

• EBITDA declined 4.4% to €71.8 million, and consolidated profit fell 17.4% to €25.1 million compared to the same period last year.

• The acquisition of a medical care centre with six practices was agreed, expected to close in Q1 2026, supporting growth in clinical and outpatient sectors.

• A €31 million debt tranche was repaid in October 2025, with no refinancing planned due to strong liquidity.

Financial highlights

• EBIT decreased by 6.8% to €27.5 million, and EBT dropped 15.6% to €30.4 million year-over-year.

• Employee benefits expense rose 8.4% to €838.96 million, reflecting wage increases and more full-time staff.

• Cost-of-materials ratio improved to 33.6% from 34.2% due to product standardisations.

• Depreciation and impairment expenses declined by 2.9% to €44.3 million, lowering the depreciation ratio to 3.5%.

• Earnings per share (undiluted and diluted) were €0.36, down from €0.44 year-over-year.

Outlook and guidance

• The company is well-positioned for the Hospital Care Improvement Act and sector reforms, with readiness for upcoming regulatory changes.

• Ongoing sector challenges include structural underfunding, staff shortages, and rising operating costs, which require further political action.