BAD HOMBURG VOR DER HOEHE (dpa-AFX) - Fresenius SE & Co. KGaA (FSNUF.PK, FSNPF.PK) announced its first-quarter reported Group net income decreased to 346 million euros from 413 million euros, previous year. Reported earnings per share was 0.61 euros compared to 0.74 euros. Group net income before special items decreased by 16%, or 17% in constant currency, to 389 million euros. The company said the decrease was driven by cost inflation and the negative earnings development at Fresenius Vamed. Earnings per share before special items decreased to 0.69 euros from 0.83 euros. Excluding Fresenius Medical Care, Group net income before special items decreased by 14%, or 16% in constant currency, to 341 million euros.
Before special items, Group EBIT in constant currency decreased by 10% to 908 million euros. Excluding Fresenius Medical Care, Group EBIT before special items decreased by 7%, or 7% in constant currency, to 554 million euros. EBIT margin excluding Fresenius Medical Care before special items was 10.0% compared to 11.4%.
First quarter Group Revenue increased by 5% to 10.2 billion euros. Organic growth was 5%. Excluding Fresenius Medical Care, Group revenue increased by 7%, or 7% in constant currency, to 5.5 billion euros.
For 2023, Fresenius expects Group organic revenue to grow in a low- to mid-single-digit percentage range. Group constant currency EBIT is expected to remain broadly flat or decline up to a high-single-digit percentage rate. Excluding Fresenius Medical Care, constant currency EBIT is expected to remain broadly flat or decline up to a mid-single-digit percentage rate.
Michael Sen, Fresenius CEO, said: 'Our Operating Companies Fresenius Kabi and Fresenius Helios both had strong first quarter performance. The deconsolidation of Fresenius Medical Care is on track and the turnaround is also progressing.'
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