BAD HOMBURG VOR DER HOEHE (dpa-AFX) - Fresenius SE (FSNUF.PK, FSNPF.PK), a German health care company, on Wednesday posted a net profit of 326 million euros or 0.58 euros per share for the third quarter. This compares to last year's net loss of 406 million euros or 0.72 euros per share.
The company attributed the profit to Fresenius Medical Care's positive net income contribution, while last year's loss was due to non-cash valuation effect of Fresenius Medical Care in accordance with IFRS 5.
Before special items, the company's Group net income increased by 12 percent to 388 million euros, and earnings per share rose by 12 percent 0.69 euros, driven by operating strength.
Group EBITDA before special items grew 4 percent to 814 million euros and Group EBIT before special items rose 8 percent to 552 million euros.
Fresenius' revenue for the quarter improved by 3 percent to 5.366 billion euros from last year's 5.187 billion euros. The company's last year's results are restated.
Meanwhile, Group revenue before special items increased by 7 percent to 5.303 billion euros. Organic growth was 9 percent, driven by Kabi and Helios' ongoing strong performance. Currency translation had a negative effect of 2 percent on revenue growth, the company said.
Looking ahead to the full year, the company said it is upgrading its revenue and earnings guidance. It now expects organic revenue to grow between 6 and 8 percent and EBIT growth, at constant currency, to be between 8 and 11 percent. Earlier, the company had projected organic revenue growth of 4-7 percent and EBIT growth of 6-10 percent.
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