EQS-News: M1 Kliniken AG: Strong profit growth in 2023 underlines ambitious plans for global market leadership in medical aesthetics

M1 Kliniken AG: Strong profit growth in 2023 underlines ambitious plans for global market leadership in medical aesthetics 

• Group sales increase by 10.9% to € 316.3 million in 2023
• Highly profitable beauty segment drives growth with an increase of 17.6% to EUR 70.8 million
• Consolidated net profit (after minority interests) improved from EUR 4.3 million to EUR 10.3 million
• Dividend proposal of EUR 0.50 per share
• Medium-term forecast for the Beauty segment: target sales of EUR 200 to 300 million by 2029 with an EBIT margin of at least 20%

Berlin, 23 May 2024 - M1 Kliniken AG (ISIN: DE000A0STSQ8) today published its annual report for the year 2023. The M1 Group continued its steady growth course in the reporting period, with the highly profitable Beauty segment making a significant contribution to its success. Consolidated net profit (after minority interests) doubled in 2023, and the M1 Group also sees considerable growth potential for the coming years.

The medium-term outlook for the Beauty segment anticipates sales growth reaching between EUR 200 and 300 million.  The goal is for the "M1 Med Beauty" brand to become the world's leading private provider of beauty treatments within the Group by this time at the latest. M1 Med Beauty is already the market leader in Europe, offering outstanding service at the best price.

Consolidated net profit (after minority interests) more than doubled
 

In the 2023 financial year, the M1 Group recorded an impressive 10.9% increase in sales to EUR 316.3 million compared to EUR 285.3 million in the previous year. The Beauty segment once again proved to be a strong growth driver with a 17.6% increase in sales to EUR 70.8 million. Consolidated earnings before interest and taxes (EBIT) grew faster than sales by 68.5% to 15.7 million euros compared to 9.3 million euros in the previous year. Consolidated net profit (after minority interests) rose from EUR 4.3 million to EUR 10.3 million in 2023, which corresponds to a significant doubling. Accordingly, consolidated net profit (after minority interests) per share increased from EUR 0.24 to EUR 0.54. The Group's equity ratio was a solid 67.3% as at the balance sheet date of 31 December 2023. In view of the profitable growth and high equity ratio, the Executive Board and Supervisory Board recommend a dividend distribution of EUR 0.50 per share.

Forecast 2029 for the Beauty segment: EUR 200 to 300 million in sales with an EBIT margin of at least 20%
 

The M1 Group continues to see considerable growth potential. The core business centred around "M1 Med Beauty" will continue to be the driving force in the coming years. The medium-term forecast projects that M1 will operate 150 to 200 specialist centres for aesthetic medicine by the end of 2029. As of the end of 2023, there were a total of 58 locations, with 38 in Germany and 20 abroad. By 2029, approximately one third of the centres will be in Germany and two thirds abroad.

M1 is currently active in ten countries, from Australia to Germany and Romania, and sees further expansion potential in each of them. In addition, new markets are also to be developed by 2029. In Eastern Europe, for example, material and labour costs are low, the price level for high-quality medical beauty treatments is high and there are hardly any professional competitors. As a result, the first location in Romania, for example, reached break-even faster than usual.

The planned expansion of locations is expected to lead to a significant increase in sales. The Beauty segment is expected to contribute between EUR 200 million and EUR 300 million to Group sales by 2029. Despite the initial investments for new clinics in new countries, the EBIT margin in the Beauty segment is expected to remain at a minimum of 20%.

The 2023 Annual Report is available for download at www.m1-kliniken.de.

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 61 specialist centres under the "M1 Med Beauty" brand. With six operating rooms 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.

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M1 Kliniken AG