M1 Kliniken (M12) H2 2024 earnings summary

Executive summary

• Operating profit (EBIT) rose by over 70% and earnings per share increased by 58% year-over-year.

• Group revenue grew 7.2% to €339.2 million, with EBITDA up to €32.0 million and margin at 9.4%.

• Net profit increased by 52.5% to €17.8 million; five new specialist centers opened, totaling 63 locations in 10 countries.

• Strategic review led to closure of underperforming UK and Australian sites; potential sale of trading segment under review.

Financial highlights

• Sales: €339.2 million (+7.2% YoY); EBT: €26.3 million (+59.9% YoY); Net profit: €17.8 million (+52.5% YoY).

• EBITDA: €32.0 million (+52.1% YoY); EBIT: €26.8 million (+70.4% YoY); EPS: €0.85 (+58.2% YoY).

• Operating cash flow: €30.5 million (prior: €7.8 million); free cash flow: €24.9 million (prior: -€1.5 million).

• Equity ratio: 71.4% (prior: 67.3%); total assets: €187.9 million (prior: €212.9 million).

• Dividend of €0.50 per share proposed; €13.6 million used for share buybacks, €9.3 million for dividends.

Outlook and guidance

• Continued profitable growth targeted for 2025 via national and international expansion.

• Medium-term goal: €200–300 million annual sales and at least 20% EBIT margin in Beauty segment.

• Beauty segment sales expected to grow ~10% in 2025; Trading segment performance to remain positive.

• Forecast assumes no intensification of geopolitical crises or trade conflicts.