Fresenius Lowers Guidance After Fall in 2Q Net Profit
July 30 2020 - 2:01AM
Dow Jones News
By Cecilia Butini
Fresenius SE said Thursday that second-quarter net profit
declined and issued new, lower guidance for the full year as a
result of the coronavirus pandemic.
The German health-care company said after-tax income before
special items came in at 410 million euros ($483.5 million) for the
second quarter, down from EUR471 million for the same period a year
earlier. Sales grew to EUR8.9 billion from EUR8.7 billion.
Fresenius guided for sales growth of 3% to 6% at constant
currencies and for net income growth of between minus 4% to
positive 1% constant currencies. The company had previously guided
for sales growth of 4% to 7% and for net income growth of 1% to 5%,
both at constant currencies. The new guidance accounts for the
effects of the coronavirus pandemic, which the company hadn't
considered in its previous guidance.
Fresenius Medical Care, the company's dialysis division, posted
a EUR351 million net profit, up from EUR254 million. Sales rose to
EUR4.56 billion for the quarter from EUR4.34 billion a year
earlier, the company said.
Fresenius Medical Care expects revenue and net income to grow at
a mid- to high-single-digit rate this year, it said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
July 30, 2020 01:46 ET (05:46 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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