Press release - mid-year results 2021
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The Hirslanden Group looks back on a challenging fiscal year that was dominated by the COVID-19 pandemic. After the lockdown in the spring and the related prohibition of elective, non-urgent procedures, Hirslanden’s business activities began to recover starting in May. Overall, the operative earnings were solid in the first half of the fiscal year and the liquidity is accordingly robust.
In the inpatient segment, activity clearly rebounded starting in May after the lockdown. The recovery in the outpatient segment was slower. In total, revenue in the reporting period dropped by 2 % because of the COVID-19 pandemic and amounted to CHF 853 million. The EBIDTA margin was 13.7 % (after 16.2 % in the previous year’s period).
"Our employees and physicians deserve a huge thank you for this result," says Daniel Liedtke, Chief Executive Officer of the Hirslanden Hospital Group. "Thanks to their enormous commitment and the organisational measures implemented by us, we managed to minimize the negative consequences of the COVID-19 pandemic as much as possible."
Despite the pandemic, the Hirslanden Group continued to successfully implement its strategy together with its public and private partners. In the most recent half of the fiscal year, Hirslanden also decided to directly invest around CHF 200 million in the Aarau and Lucerne sites over the next few years. These two strategically important projects include new infrastructures and will strengthen the offer of specialised inpatient and outpatient medical services. The projects are in accordance with the group’s integrated "hub & spoke model" which plans for a comprehensive range of medical services per care region surrounding a central hospital. The construction work is expected to start successively from next year.
Due to the uncertainty regarding the severity, duration and full impacts as well as the economic consequences of the persisting pandemic, the forecast for the second half of the fiscal year remains uncertain. The Hirslanden Group clinics remain heavily involved in the cantonal crisis organisation and are fulfilling its role in fighting the COVID-19 pandemic, whether as COVID-19 hospitals or in the framework of collaborations with public hospitals.
The Hirslanden Group operates 17 hospitals in 10 cantons, many of which have an emergency department. It also operates 4 outpatient surgical units, 17 radiology institutes and 5 radiotherapy institutes. Together with public and private cooperation partners, Hirslanden focuses on the continuum of care and the promoting of high-quality, responsible, personalised and efficiently integrated healthcare. The Group has 2’506 affiliated doctors and 10’417 employees, 498 of whom are permanently employed doctors. Hirslanden is the largest medical network in Switzerland. In the 2019/20 financial year, the Group generated turnover of CHF 1’804 million. As at 31.3.2020, the Group had treated 107’491 patients, amounting to a total of 471’717 inpatient days. In insurance terms, the patient mix consists of 49.2 % basic, 29.3 % semi-private, and 21.5 % private insured patients.
Hirslanden is synonymous with first-class medical care provided by highly qualified medical specialists with many years of experience. As a system provider, the Group stands out from the rest of the market: interdisciplinary medical centres of expertise and specialised institutes enable it to offer the best possible individualised treatment, even in highly complex cases. The Hirslanden Group was formed in 1990 through the merger of several hospitals. Since 2007, it has been part of the international hospital group Mediclinic International plc, which is listed on the London Stock Exchange.