Rhoen Klinikum (RHK) H1 2024 earnings summary

Executive summary

• Treated 463,111 patients (+3.8%) in H1 2024, with revenues of €775.5m (+6.5%), EBITDA of €49.1m (+8.6%), and consolidated profit of €20.6m (+68.9%) compared to H1 2023.

• Performance improved despite ongoing cost pressures from medical supplies and energy, and geopolitical risks.

• Strategic objectives and sector reforms remain a focus, with the company prepared for upcoming regulatory changes.

Financial highlights

• Revenues rose by €47.3m (6.5%) year-over-year to €775.5m in H1 2024.

• EBITDA increased by €3.9m (8.6%) to €49.1m; EBIT up by €6.2m (50.0%) to €18.6m.

• Consolidated profit surged by €8.4m (68.9%) to €20.6m; EPS at €0.30 (vs. €0.18 in H1 2023).

• Q2 2024 revenues were €392.7m (+7.1%), EBITDA €23.9m (+5.8%), EBIT €8.6m (+41.0%), and profit €9.4m (+62.1%) year-over-year.

• Net liquidity at €205.0m (31 Dec 2023: €192.8m); equity ratio at 71.5%.

Outlook and guidance

• 2024 revenue expected at €1.6bn (±5%); EBITDA forecasted between €110m and €120m.

• Moderate increases in case numbers and cost weights anticipated.

• Outlook subject to uncertainties from global crises, price increases, and regulatory changes.