DGAP-Adhoc: MediClin AG: Provision for a debtor warrant in the amount of EUR 19.5 mill. due to a received rent deductions in 2005 to 2007 burden FY 2017 results

2017. november 21., kedd, 15:36





DGAP-Ad-hoc: MediClin AG / Key word(s): Change in Forecast


MediClin AG: Provision for a debtor warrant in the amount of EUR 19.5 mill. due to a received rent deductions in 2005 to 2007 burden FY 2017 results


21-Nov-2017 / 15:36 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Ad hoc Release according §15 WpHG



Provision for a debtor warrant in the amount of EUR 19.5 mill. due to a received rent deductions in 2005 to 2007 burden FY 2017 results



Offenburg, November 21, 2017 - In 2005 to 2007, MediClin AKTIENGESELLSCHAFT (MediClin) received a rent deductions totalling EUR 21.0 mill. from the real estate fund for ten of the 21 leased post-acute clinics. In conjunction with this rent reduction, a performance-related repayment (debtor warrant) until the end of the term (31.12.2027) was agreed, which is dependent upon the achievement of economic performance criteria by the clinics included in the fund. Based on the present planning, the probability of occurrence that the performance criteria will be achieved is estimated to be likely, so that the formation of a provision for future financial liability in the amount of EUR 19.5 mill. is necessary due to the rules of accounting.



If the assessment of probability of occurrence for the aforementioned performance criteria changes in the future, the provision will be accordingly adjusted.



The amount of the provision leads to downward adjustment of the guidance for the Group. Currently the Board of Management is assuming that the Group-EBIT for FY 2017 will be between EUR 5.5 mill. and EUR 7.5 mill.



The appropriateness of the rental payments, to which the deduction by a debtor warrant was granted, is subject of civil proceedings which MediClin has filed at the Landgericht Offenburg in May 2016. A judicial appointment or the first hearing has not yet taken place.



About MediClin AG (Ticker: MED; WKN: 659 510)



MediClin AG is a nation-wide clinic operator and large provider of services in the area of Psycho- and Neurosciences as well as Orthopaedic. With 34 clinics, 7 nursing care facilities and 8 medical care centres in 11 federal states MediClin has a total capacity of close to 8,300 beds. MediClins" facilities include acute care clinics, general hospitals, special treatment facilities, specialised hospitals and clinics for post-acute treatment as well as medical rehabilitation. MediClin has close to 9,600 employees.



MediClin - A company of the Asklepios Group











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Language: English
Company: MediClin AG

Okenstraße 27

77652 Offenburg

Germany
Phone: +49 (0)781 488-326
Fax: +49 (0)781 488-184
E-mail: alexandra.muehr@mediclin.de
Internet: www.mediclin.de
ISIN: DE0006595101
WKN: 659510
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange





 
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631491  21-Nov-2017 CET/CEST







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