M1 Kliniken AG Reports 70% EBIT Growth in Q1 2024

Berlin-based M1 Kliniken AG has reported a significant increase in earnings before interest and taxes (EBIT) by 70% in the first quarter of 2024. Group sales also rose by 9.6% to EUR 84.7 million. The company's beauty segment contributed strongly, with sales up 18.2% and EBIT increasing by 50%.

The beauty segment saw sales of EUR 24.7 million and an EBIT of EUR 5.4 million, resulting in an EBIT margin rise from 17.3% to 21.9%. The trading segment also followed suit with sales increasing to EUR 60.0 million and EBIT improving from EUR 0.4 million to EUR 1.4 million.

M1 Kliniken plans to expand its "M1 Med Beauty" centers, currently numbering 61 across ten countries. CEO Attila Strauss stated that three new locations are on the horizon. The focus is on becoming the leading global private provider of beauty treatments, with potential private equity interest supporting this vision.

The company aims for 150 to 200 medical centers by 2029, with projected segment revenue between EUR 200 and 300 million and an EBIT margin of at least 20%. M1 is also exploring strategic options for its trading segment to further enhance shareholder value.