Fresenius reports another strong quarter and confirms guidance

If no timeframe is specified, information refers to Q1-3/2017

(lifePR) ( Bad Homburg, )
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Q3/2017:
- Sales €8.3 billion (+12%, +15% in constant currency)
- EBIT1 €1,129 million (+5%, +9% in constant currency)
- Net income2,3 €423 million (+11%, +14% in constant currency) (adjusted)
- Net income2 €396 million (+4%, +7% in constant currency)

Q1-3/2017:
- Sales €25.2 billion (+16%, +16% in constant currency)
- EBIT1 €3,522 million (+15%, +15% in constant currency)
- Net income2,3 €1,339 million (+20%, +20% in constant currency) (adjusted)
- Net income2 €1,303 million (+17%, +17% in constant currency)

Stephan Sturm, CEO of Fresenius, said: "We can report another very good quarter, once again boosted by strong sales and earnings growth. The prospects for our businesses remain excellent. We are therefore confirming our guidance and are heading towards yet another record year. From this position of strength, we intend to swiftly close and integrate our strategically important acquisitions. Thus, we are expanding our range of high-quality, affordable healthcare products and services for the benefit of our patients and our company."

2017 Group guidance confirmed

Fresenius confirms its guidance for 2017. Group sales are expected to increase by 15% to 17% in constant currency. Group net income1,2,3 is expected to grow by 19% to 21% in constant currency.

Including the acquisition of Merck KGaA's biosimilars business and pro forma the acquisition of Akorn, the net debt/EBITDA ratio4 is expected to be approximately 3.3 at the end of 2017.

16% sales growth in constant currency

Group sales increased by 16% (16% in constant currency) to €25,191 million (Q1-3/2016: €21,651 million). Organic sales growth was 6%5 while acquisitions contributed 10%. In Q3/2017, Group sales increased by 12% (15% in constant currency) to €8,297 million (Q3/2016: €7,433 million). Negative currency translation effects (-3%) were mainly related to the devaluation of the US dollar. Organic sales growth was 6% while acquisitions contributed 9%.

 
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