M1 Kliniken AG announces financials for Q3-2021: forecasts confirmed after good development of treatment and business figures

- Group revenue rises to EUR 237 million (EUR 82 million in Q3-2020)

- Beauty: treatment numbers at high level; record revenue in German practice network in October 2021; no negative impact from rising incidence rate of the Corona pandemic

- Group EBITDA amounts to EUR 13.3 million (previous year: EUR 8.8 million); EBIT amounts to EUR 9.1 million (previous year: EUR 5.8 million); EBIT margin in the German practice network in the target corridor of 15-20% despite large number of new openings

Berlin, 18.11.2021 - M1 Kliniken AG (ISIN: DE000A0STSQ8) announces key financial figures for Q3 2021. Accordingly, the consolidated group revenue of the M1 Group as of 30 September 2021 increased to EUR 237 million (previous year: EUR 82 million) - also due to the consolidation of Haemato AG in 2021 for the full year.

EBITDA of M1 Kliniken AG as per Q3-2021 totaled EUR 13.3 million (previous year: EUR 8.8 million), EBIT reached EUR 9.1 million (previous year: EUR 5.8 million). The previous year was marked by the first wave of the Corona pandemic with the closure of all locations from late March 2020 until mid May 2020.

Business development in the Beauty segment is very positive. With almost 84 thousand treatments in the third quarter (Q3-2020: 77 thousand), the value from previous quarters was exceeded, although a declining development would normally have been expected over the summer months. Since the end of October 2021 and after a lockdown of about three months the two Australian locations are now able to operate without restrictions again. After a rather weak value in the previous quarter, the average revenue per treatment could be significantly increased.

Turnover in the beauty segment rose to 37 million euros (previous year: 29 million euros) and is on course for the forecast of approx. 50 million euros for 2021. By the end of the year, the company will be operating a total of 47 specialist centers in Germany and abroad and will almost achieve the self-imposed target. Five more openings are already on the schedule for the first quarter of 2022.

In the Beauty segment, M1 generated an EBIT of € 4.5 million in the first nine months of 2021. The German network accounted for € 5.3 million, while the international practices recorded a negative EBIT of € -0.8 million overall. In the German core market, M1 thus reached the target corridor of an EBIT margin of 15-20%, although start-up costs for eight new openings and three relocations in the German occurred.

As another positive aspect a new peak value for the average daily turnover was achieved in the German practice network in October 2021 - a value that, given the current situation, can probably be topped again in November. Due to the respective regional/national conditions, but also based on its own organizational structure, the company does not expect to be affected by comprehensive lockdown measures again over the winter of 2021/22.

In the trading segment, HAEMATO AG was able to increase sales to EUR 216.6 million according to its own IFRS financial statements (previous year: EUR 175.6 million). The focus of activities is currently on margin improvement with a simultaneous optimization of the cost structure, which will positively influence the earnings structure from 2022.

"We are extremely satisfied with our development in the past three months. The 'summer lull' that usually occurs was very flat this year and the start into Q4 2021 has also been very positive. The EBIT margin in the German Beauty operations proves that our business model can sustainably achieve the earnings expectations." - said the CEO of M1 Kliniken AG, Dr Walter von Horstig.

"In the coming years, the internationalization of the practice network is now the main item on our agenda. This will challenge M1, but the respective local market and competitive structures are comparable to the environment of M1 in Germany. In this respect, everything speaks in favor of M1 taking a comparable development abroad as well."

About M1 Kliniken AG

M1 Kliniken AG is the leading provider of beauty medical health services in Germany. In the aesthetic and surgical field, the group of companies offers products and services with the highest quality standards. Under the brand "M1 Med Beauty", beauty medical treatments are currently offered at more than 40 specialist centers. The M1 Schlossklinik for plastic and aesthetic surgery in Berlin, with six operating theatres and 35 beds, is one of the largest and most modern facilities of its kind in Europe. Since the end of 2018, M1 has been pushing ahead with internationalization and is currently also active in Austria, Switzerland, the Netherlands, England, Croatia and Australia. With its stake in HAEMATO AG, M1 Kliniken AG is also in a position to exploit sales and earnings potential of treatment products in the medical-aesthetic field.

Contact:
M1 Kliniken AG
Dr. Walter von Horstig, Management Board
Grünauer Straße 5
12557 Berlin
T: +49 (0)30 347 47 44 14
M: [email protected]