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Rhoen-Klinikum FY19 Profit Down, Revenues Up; Warns On FY20 Earnings

German hospital operator Rhoen-Klinikum AG (RKKPF.PK) reported Tuesday that its fiscal 2019 net consolidated profit declined to 44.5 million euros from last year's 51.2 million euros.

Earnings before interest, taxes, depreciation and amortisation or EBITDA was almost at the previous year's level with 125.3 million euros. The EBITDA margin amounted to 9.6 percent.

In 2019, revenues rose 5.8 percent from last year to 1.3 billion euros. The number of patients increased 1.2 percent to 860,528.

Further, the company said its Boards will propose to the Annual General Meeting the distribution of a dividend of 0.25 euro per non-par share entitled to dividend for financial year 2019 following 0.29 euro last year.

Looking ahead for fiscal 2020, the company expects EBITDA in a range from 72.5 million euros to 82.5 million euros, and revenues in the amount of 1.4 billion euros, plus or minus 5 percent.

Stephan Holzinger, CEO, said, "2020 will be a difficult year in view of regulatory policy placing heavy burdens on our financial results and a number of operative challenges at individual sites. The challenges have certainly intensified with the current corona crisis also coming in the middle of a takeover bid. While we are able to make preparations for good medical care, the economic consequences on our Company of the corona crisis currently remain uncertain."

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