Rhoen Klinikum (RHK) investor relations material

Executive summary

• Revenues increased by 3.6% year-over-year to €863.6 million, driven by moderate growth in inpatient and semi-inpatient treatments (+1.8%), a significant rise in outpatient cases (+11.0%) following the acquisition of Ortho Centrum Saale MVZ GmbH, and a 9% increase in patient numbers to 513,700 in H1 2026.

• EBITDA rose by €10.3 million to €57.0 million, and consolidated profit increased by €7.8 million to €22.5 million, with a stable equity ratio of 74.4%.

• Positive business development was supported by legislative measures offsetting personnel and material costs, despite ongoing geopolitical and regulatory challenges.

• Ongoing investments in regional health networks and medical technology are underway.

Financial highlights

• EBIT increased by €10.1 million (58.4%) to €27.4 million year-over-year.

• EBT rose by €9.9 million (51.0%) to €29.3 million, and earnings per share improved to €0.33 from €0.21.

• Net liquidity stood at €190.9 million as of 30 June 2026, down from €207.7 million at year-end 2025.

• Aggregate investments in intangible assets and property, plant, and equipment totaled €49.8 million, up from €35.1 million in the prior year period.

Outlook and guidance

• Full-year 2026 revenue is expected at €1.7 billion (±5%), with EBITDA forecasted between €110 million and €125 million.

• Management anticipates moderate growth in case numbers and cost weights, but highlights significant uncertainties due to ongoing legislative changes, global crises, and regulatory impacts on remuneration.