MPH Health Care AG

Latest Results (06.11.2025):

MPH Health Care AG's Half-year result for 2025 shows a challenging period marked by a significant decrease in equity and net asset value per share, a swing from a positive IFRS result in the previous year to a loss in the current period, yet with notable improvements in operating and net cash flows. The report also details the adverse impact from the valuation of investments, such as CR Energy AG, alongside robust performance from the M1 Kliniken AG segment, which contributed to revenue and profit growth in the first half-year of 2025.

Equity and NAV Decline

The company's equity fell by 26% from EUR 277.9 million (as of 31 December 2024) to EUR 205.1 million (30 June 2025), resulting in a decline in the net asset value per share from EUR 64.90 to EUR 47.91. The equity ratio dipped slightly from 95.5% to 93.7%.

IFRS Result Reversal

The IFRS consolidated result experienced a dramatic turnaround, plunging from EUR 74.5 million in the first half-year of 2024 to a loss of EUR 72.7 million in the first half-year of 2025, largely due to accounting valuations of the investments which do not affect the cash flow.

Improved Cash Flow Performance

From 1 January to 30 June 2025, MPH Health Care AG registered a positive operating cash flow of kEUR 1,016 compared to a negative kEUR -895 in the previous year, and a positive net cash flow of kEUR 261, a marked improvement from kEUR -2,781 in the same period of 2024.

Impact of CR Energy AG Investment

Fair value losses were significant due to a sharp decline in the share price of CR Energy AG following its filing for preliminary insolvency proceedings in June 2025; the share price dropped from EUR 4.78 on 31 December 2024 to EUR 0.54 on 30 June 2025.

M1 Kliniken AG Performance

The M1 Kliniken AG segment contributed positively to the group performance with consolidated revenue rising by 9.4% to EUR 183.5 million compared to EUR 167.7 million year-over-year. The segment saw its EBIT margin increase from 8.6% to 9.8%, EBIT rise from EUR 14.5 million to EUR 18.0 million, and net profit (before minority interests) jump by approximately 19% to EUR 12.5 million.

Dividend Distribution Policy

The Annual General Meeting on 17 July 2025 confirmed a dividend distribution of EUR 1.20 per dividend-bearing share and decided to carry forward the remaining amount of the 2024 net profit of EUR 72.5 million, maintaining consistency with the previous year's policy.