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Financial results

Our operating income was once again higher than in previous years (increase of approximately € 54 million (3.6%)). This increase is partially due to higher proceeds from care services (e.g. Indexation and expensive drugs) and partially to an increase in other revenue (externally funded research projects and higher revenue from consolidated entities). Healthcare revenues in 2022 contrary to previous years were influenced to a limited extent by COVID-19. The settlement of the subsidy from the Ministry of Health for the upscaling of IC related to COVID-19 over the years 2020, 2021 and 2022 made a positive contribution of € 4.7 million on operating income.

As opposed to the increase in operating income, there were also higher costs. Our staff costs went up 3.1% from the previous year (increase of approximately € 24.3 million). The increase in staff costs is mainly due to CLA developments.On balance, these developments have led to a consolidated result of € 20.1 million. This is approximately € 13.5 million more than the consolidated result for 2021 and approximately € 9.1 million more than the budget for 2022. This result is due especially to a cumulation of incidental income and expenses that came out positively in terms of balance. Compared to the budget therefore, the following incidental income was realized: availability contribution from the Ministry of Health for ICU capacity € 4.7 million and COVID-19-related special revenues from previous years € 5 million.

The increased income and expenses from expensive drugs and externally funded research projects contributed only slightly to the increase in result.

For these developments, income and expenses were more or less equal to each other. The annual increases in the cost of expensive drugs underline the importance of all projects and initiatives undertaken to mitigate this increase. An important initiative in this regard is the agreement reached by NFU with health insurers on transformation funds.

The result was added as a whole to our equity capital. This enabled us to maintain our healthy equity position. Our financial ratios went down slightly compared to previous years, but are still healthy. We thereby amply meet the minimum requirements agreed with our banks in terms of capital ratio and Debt-Service Coverage Ratio (DSCR). The balance of cash and cash equivalents at the end of 2022 was € 368 million. We expect that with the implementation of our strategic accommodation plan (SOH) it will become essential to attract additional funding as of 2026.

Consolidated participating interests had a negative impact on our result on balance of about € 5 million. This effect is mainly explained by the WKZ fund's losses on its investments due to negative developments in stock and bond markets during 2022.