M1 Kliniken (M12) Q1 2024 earnings summary

Executive summary

• Group sales rose 9.6% year-over-year to €84.7 million in Q1 2024, with EBIT up 70% to €6.8 million.

• Beauty segment remained the main growth driver, expanding sales by 18.2% and EBIT by 50% year-over-year.

• Trading segment also performed well, with sales up to €60.0 million and EBIT rising from €0.4 million to €1.4 million.

Financial highlights

• Group EBIT margin improved from 5.3% to 8.1% year-over-year.

• Beauty segment EBIT margin increased from 17.3% to 21.9% year-over-year.

Outlook and guidance

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

• Medium-term goal: 150–200 specialist centers and €200–300 million Beauty segment revenue with at least 20% EBIT margin by 2029.

• Plans to establish a shareholder-friendly dividend policy.