Fresenius SE Sees Strong Growth in Coming Years
February 24 2016 - 2:16AM
Dow Jones News
By Friedrich Geiger
BERLIN--German healthcare company Fresenius SE (FRE.XE) said on
Wednesday that its revenue and earnings rose in the fourth
quarter, with particularly strong growth in North America and
forecast further growth for the coming years.
In the three months from October through December, Fresenius's
revenue increased 11% to 7.26 billion euros ($7.26
billion), with strong growth at the Kabi division for intravenous
drugs and helped by currency gains. Net profit increased 40%
to EUR359 million.
The company aims to grow revenue to between EUR36 billion and
EUR40 billion by 2019 and net income to between EUR2 billion
and EUR2.25 billion. These new medium-term targets and include
small and mid-sized acquisitions and are based on comparable
exchange rates. For the current year, it forecast sales to rise
by 6% to 8% and net profit before special items to increase by
8% to 12% in constant currency.
At Fresenius Medical Care AG, of which Fresenius owns almost a
third, revenue rose 0.6% to $4.35 billion in the fourth
quarter. But net profit declined 5.5% to $317 million due to a
charge for settling a litigation related to allegations of
inadequate information about a drug's side effects. Fresenius
Medical Care confirmed its forecast for the current year for
revenue to increase by 7% to 10% adjusted for currency effects, and
net profit to rise 15% to 20%.
-Write to Friedrich Geiger at friedrich.geiger@wsj.com
(END) Dow Jones Newswires
February 24, 2016 02:01 ET (07:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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