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M1 Kliniken in the Pivotal Point Check: High Demand for Beauty Treatments - Operating Profit Almost Doubled From €7.3 Million to €14.5 Million in the First Half of the Year!

M1 Kliniken continues to benefit from the high demand for beauty treatments and the consistent implementation of its expansion strategy. Revenue and profit increased significantly in the First Half of 2024. With the "M1 Med Beauty" brand, the Group is the leading private provider of beauty treatments in Europe and continues to expand its market position worldwide. In addition to the 63 specialist medical centers for aesthetic medicine in 10 countries, 3 further locations are to be opened this year.

In the first half of 2024, the beauty company increased its consolidated sales by 11.2% from 150.8 million to 167.7 million euros. Earnings before interest and taxes (EBIT) almost doubled from €7.3 million to €14.5 million. The core Beauty business to be the growth driver. In the first half of the year, revenue in this segment rose by 30.6% to €48.6 million. EBIT improved by 24.3% and increased to €10.1 million. At 20.8%, the EBIT margin in the core segment remains above the long-term target of 20%. In the trading segment, revenue rose from €113.6 million to €119.2 million. EBIT increased from € -0.8 million to €4.4 million euros.

The strong operating performance is expected to continue for the rest of the year. The aim of the beauty company is to develop M1 Med Beauty into the world's leading private provider of beauty treatments in the coming years. With six operating theaters 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. In its medium-term planning, M1 aims to operate 150-200 specialist medical centers for aesthetic medicine by 2029. The beauty segment should thus generate revenue of €200-300 million with an EBIT margin of at least 20%. M1 also intends to establish a shareholder-friendly dividend policy.

M1 Kliniken has a market capitalization of €311.75 million. Revenue of €333.15 million is expected in 2024. Earnings per share are expected to be €0.74. Sales are expected to increase to €388 million by 2026. Earnings per share are then expected to reach €1.11. The forward P/E 2026 ratio is 14.7. M1 has been driving forward its internationalization since the end of 2018 and is currently represented in 10 countries. In Eastern Europe in particular, material and personnel costs are low, while the price level for high-quality medical beauty treatments is high and there are hardly any professional competitors that can offer the highest quality standards.

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