Balance Sheet
Total Page:16
File Type:pdf, Size:1020Kb
ANNUAL REPORT 2010 | 2011 As good as home ANNUAL REPORT 2010 | 2011 Main Group figures (IFRS) Continuing operations 2010 | 2011 2009 | 2010 Change in % 2009 | 2010 Change in % Results Operating sales EUR million 190.0 240.7 -21.1 193.2 -1.7 EBITDAR EUR million 51.9 75.6 -31.3 75.6 -31.3 EBITDA EUR million 13.7 25.9 -47.1 25.9 -47.1 EBIT EUR million 5.7 4.3 33.1 -19.4 – EBIT margin % 3.0 1.8 66.7 neg. – Net income EUR million 2.9 0.6 408.9 -22.1 – RoS % 1.5 0.2 544.6 -11.5 – Cash flow from operating activities EUR million 0.9 6.4 -86.6 6.4 -86.6 Balance sheet Fixed assets EUR million 167.2 168.4 -0.7 – – Investments EUR million 3.1 9.4 -67.0 – – Shareholders‘ equity EUR million 34.2 24.9 37.1 – – Equity ratio % 17.1 12.6 35.7 – – Return on equity % 8.4 2.3 271.1 – – Financial debt EUR million 57.1 62.4 -8.5 – – Financial ratio % 28.6 31.5 -9.2 – – Per capita sales EUR thousand 42.0 43.1 -2.5 – – Other key facts Dividend per share EUR 0.00 0.00 – – – Earnings per share EUR 0.23 0.05 360.0 – – Employees Number (averaged) 4,521 5,584 -19.0 – – Facilities Number 60 62 -3.2 – – Bed capacity Quantity (as of 30. June) 8,083 8,370 -3.4 – – Occupancy rate % 87.1 88.0 -1.0 – – * calculated using the weighted average after deducting treasury shares Sales of EBITDA of Equity of Marseille-Kliniken Group Marseille-Kliniken Group Marseille-Kliniken Group EUR million EUR million EUR million 250 235.5 240.4 35 32.7 50 228.1 30.9 214.8 30 42.5 200 190.0 25.9 40 25 34.8 34.2 150 30 20 25.2 24.9 100 15 13.7 20 10 50 10 5 3.6 0 0 0 06 | 07 07 | 08 08 | 09 09 | 10 10 | 11 * 06 | 07 07 | 08 08 | 09 09 | 10 10 | 11 * 06 | 07 07 | 08 08 | 09 09 | 10 10 | 11 * after deconsolidation of rehabilitation segment * after deconsolidation of rehabilitation segment Contents Mission Statement ........................................................................................... 2 Consolidated financial statements/ Financial statements of the parent company ..................... 40 Letter to the shareholders .......................................................................... 4 CONSOLIDATED INCOME STATEMENT ........................................................... 41 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME .................. 41 CONSOLIDATED CASH FLOW STATEMENT .................................................. 42 As good as home ............................................................................................... 6 CONSOLIDATED BALANCE SHEET ................................................................ 43 CHANGES IN CONSOLIDATED ASSETS GROWTH MARKET OF THE GERMAN HEALTH CARE INDUSTRY .............. 8 OF MARSEILLE-KLINIKEN AG AS AT JUNE 30, 2010 ................................ 44 AS GOOD AS HOME ........................................................................................ 10 CHANGES IN CONSOLIDATED ASSETS AS INDEPENDENT AS POSSIBLE, OF MARSEILLE-KLINIKEN AG AS AT JUNE 30, 2011 ................................ 46 AS MUCH ASSISTANCE AS NECESSARY ..................................................... 12 CONSOLIDATED STATEMENT OF CHANGES ON-SITE STRENGTH ........................................................................................ 14 IN EQUITY OF MARSEILLE-KLINIKEN AG DEPENDABLE FOR THE EMPLOYEES ............................................................ 16 FOR THE PERIOD JULY 1, 2010 TO JUNE 30, 2011 ................................... 48 INCOME STATEMENT OF MARSEILLE-KLINIKEN AG The share and investor relations ..................................................... 18 FOR THE PERIOD JULY 1, 2010 TO JUNE 30, 2011 ................................... 49 BALANCE SHEET OF MARSEILLE-KLINIKEN AG AS AT JUNE 30 2011 ...................................................................................... 50 Group management report ..................................................................... 21 OVERVIEW AND KEY GROUP INDICATORS ................................................ 22 Notes to the consolidated financial statements ................. 52 BUSINESS OPERATIONS AND ENVIRONMENT .......................................... 22 GROUP STRATEGY .......................................................................................... 23 INFORMATION ABOUT THE COMPANY .......................................................... 53 PROFITABILITY OF THE MARSEILLE-KLINIKEN GROUP ............................ 25 ACCOUNTING AND VALUATION PRINCIPLES ............................................ 53 ASSET SITUATION OF THE GROUP ............................................................... 27 EVENTS AFTER THE BALANCE SHEET DATE ................................................ 61 FINANCIAL POSITION OF THE GROUP ........................................................ 29 EXPLANATORY NOTES TO THE CONSOLIDATED BALANCE SHEET ........... 62 GROUP INVESTMENTS ................................................................................... 30 EXPLANATORY NOTES TO THE CONSOLIDATED INCOME STATEMENT .. 70 RESEARCH AND DEVELOPMENT .................................................................. 30 ADDITIONAL NOTES TO FINANCIAL INSTRUMENTS ................................. 73 EMPLOYEES ...................................................................................................... 30 SEGMENT REPORTING ..................................................................................... 75 INDIVIDUAL FINANCIAL STATEMENTS OF MARSEILLE-KLINIKEN AG ... 30 EARNINGS PER SHARE .................................................................................. 78 RISK REPORT ................................................................................................... 33 DIVIDENDS PAID AND PROPOSED .............................................................. 78 EVENTS AFTER THE BALANCE SHEET DATE ................................................ 36 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ............................. 78 REMUNERATION REPORT .............................................................................. 37 CONSOLIDATED CASH FLOW STATEMENT .................................................. 78 CORPORATE GOVERNANCE .......................................................................... 37 MISCELLANEOUS INFORMATION ................................................................. 78 FORECAST ......................................................................................................... 39 RESPONSIBILITY STATEMENT ISSUED BY THE LEGAL REPRESENTATIVES OF MARSEILLE-KLINIKEN AG (BALANCE SHEET OATH) ................................................................................ 89 AUDITor’s REPORT ........................................................................................ 90 Corporate Governance Report ............................................................. 92 Report by the Supervisory Board ..................................................... 94 Imprint and contact ..................................................................................... 96 1 ANNUAL REPORT 2010 | 2011 Mission Statement • Letter to the shareholders • As good as home • The share and investor relations • Group management report Mission Statement Vision Marseille-Kliniken AG aims to be the quality leader on the market for inpatient and outpatient care in Germany. In doing so, we would like to achieve profitable, long-term growth. We therefore rely on innovative concepts and modern technologies, which give the company a future-oriented position. Mission As a stock market-listed operator of retirement homes and facilities for assisted living, we are amongst the leading providers of nursing care services in Germany. We are guided by our three business principles of customer orientation, efficiency, and social responsibility. By combining these, we hope to build confidence with the residents of our facilities, our business partners, our employees, and our shareholders. As we are one of the leading care providers operating throughout Germany, our business model is vitally influenced by the demographic development and thus has sustainable future prospects. Short-term economic fluctuations, in contrast, only exert a small influence on our company. As a consistently modern company, we believe we are in a good position within a competitive environment primarily determined by regionally active charities. Strategy We aim to establish a connection between social responsibility and business commitment, as we are convinced that these two points in no way conflict with one another. Quite the contrary, it is the provider able to offer the quality desired by the customer that is successful on the market. In order for us to succeed in doing so, we consistently rely on innovative and specialised offers as well as advanced IT solutions, thereby setting standards with our range of services. We are committed to assuming responsibility. As a result, we require the necessary transparency that allows our services to be measured. In addition to the demographic development, the poor financial situation of state budgets and nursing care insurance funds is also shaping the growth market of private-sector inpatient and outpatient care for the elderly and thus forms the basis for our Group strategy. Marseille-Kliniken is positioned within this future market with a strategy supported by three pillars, with the aim of accommodating its Group goal of profitable long-term growth: One pillar of our strategy is quality leadership in the German nursing care market. High standards have been set here for care, handling sick patients, social support,