M1 Kliniken (M12) H1 2024 earnings summary

Executive summary

• Group sales rose 11.2% to €167.7M and EBIT nearly doubled to €14.5M in H1 2024.

• Net profit after minority interests reached €9.9M, almost tripling year-over-year.

• Beauty segment sales grew 30.6% to €48.6M, with EBIT up 24.3% to €10.1M.

• Trading segment sales increased to €119.2M, with EBIT improving from -€0.8M to €4.4M.

• M1 operates 63 specialist medical centres in 10 countries, with 3 more planned for 2024.

Financial highlights

• EBIT margin for the group rose from 4.8% to 8.6% year-over-year.

• Beauty segment EBIT margin at 20.8%, above the long-term 20% target.

• Earnings per share increased from €0.17 to €0.53 year-over-year.

Outlook and guidance

• Strong operating performance expected to continue for the rest of 2024.

• Medium-term goal: 150–200 medical centres and €200–300M beauty segment revenue by 2029.

• Targeting a shareholder-friendly dividend policy.