M1 Kliniken AG publishes preliminary figures for the 2023

• Strong sales growth of 18% in the Beauty segment from € 60.2 million to € 70.8 million.
• Four locations opened in three countries: a total of 58 M1-locations in ten countries by the end of 2023.
• Further expansion in Eastern Europe - new specialist medical centres in Bulgaria and Romania.
• Sales in the "Trade" segment increase by 9% from € 225.0 million to € 245.5 million.
• Earnings before taxes (EBT) increase by 61% from € 10.2 million to € 16.4 million.

 Berlin, 18.04.2024 –M1 Kliniken AG (ISIN: DE000A0STSQ8) publishes preliminary IFRS figures for the financial year 2023. In the past financial year, the M1 Group further expanded its market position in the field of beauty medicine and opened four new specialist medical centres in Germany and abroad. As of 31 December 2023, the M1 clinic network thus consisted of 58 locations.

According to the preliminary figures, sales in the "Beauty" segment rose by 17.6% to over 70.8 million euros (previous year: 60.2 million euros). The EBIT margin in this segment increased from 11.7% (7.0 million euros) in the previous year to 21.9% (15.5 million euros). The domestic Beauty locations were able to increase their EBIT margin even more significantly from 18.3% to 27.9% and increase their operating result from 9.4 million euros to 15.7 million euros.

Two additional locations were opened abroad last year. The International Beauty segment generated an almost balanced operating result of € -0.19 million for the first time (previous year: loss of € 2.4 million). New store openings, particularly abroad, are initially characterised by the gradual development of the brand and regular customers and generally take around 24 months to break even. In the new locations in Eastern Europe, it was possible to break even operationally in the first year after opening (due to the lower material and personnel costs).

The M1 Group's consolidated sales increased by 10.9% to € 316.3 million in the 2023 financial year (previous year: € 285.3 million). The result from ordinary activities (EBITDA) increased by 36.7% from € 15.4 million in the previous year to € 21 million.

The M1 Group's operating profit in 2023 (EBIT) totalled € 15.7 million (previous year: € 9.3 million), an increase of 68.5 %.

The financial result fell slightly from € 0.9 million (2022) to € 0.8 million. Earnings before taxes (EBT) totalled EUR 16.4 million in the 2023 financial year (previous year: € 10.2 million).

Equity increased by € 0.6 million to € 143.7 million as of 31 December 2023 (previous year: € 143.1 million). The equity ratio fell slightly from 72.6% in the previous year to 66.8%, but still represents a very good figure.

An operating cash flow of € 8.5 million was generated in the 2023 financial year (previous year: € 20.8 million including a decrease in inventories of € 7.9 million). By taking advantage of particularly lucrative purchasing conditions, inventories increased by around € 15.8 million as of 31 December 2023. Without this increase in inventories, the operating cash flow would have amounted to € 24.3 million.

Free cash flow, taking into account payments for investments, totalled € -1.5 million (previous year: € 19.0 million). € 17.1 million of the free cash flow was used to purchase HAEMATO AG shares. Without these payments, free cash flow would have totalled € 15.5 million. The shares in HAEMATO AG increased from 68.3% to 82.0% as of 31 December 2023.

In 2024, profitable sales growth will continue at the domestic and foreign locations. The plan is to grow from the current 60 locations to around 80-100 locations by the end of 2025. The "Beauty" segment is expected to generate an EBIT margin of at least 20%.

About M1 Kliniken AG

M1 Kliniken AG is the leading fully integrated provider of aesthetic medical healthcare services in Europe. The Group offers products and services of the highest quality standards in the aesthetic and surgical fields. Beauty medical treatments are currently offered at 60 specialist centres under the "M1 Med Beauty" brand. With six operating theatres and 35 beds, the “M1 Schlossklinik” for Plastic and Aesthetic Surgery in Berlin is one of the largest and most modern facilities of its kind in Europe. M1 Kliniken has been driving forward its internationalisation since the end of 2018 and is currently represented in ten countries.