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FRESENIUS SE & CO. KGAA

(FRE)
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Fresenius 2Q Net Income, Sales Grew; Raises Earnings Guidance

07/30/2021 | 01:42am EDT

By Cecilia Butini

Fresenius SE & Co. KGaA said Friday that sales and net income grew in the second quarter, and raised its earnings guidance for the full year.

The German health-care company posted net profit of 474 million euros ($563.5 million) for the quarter, up from EUR410 million in the same quarter a year earlier, on sales that grew to EUR9.25 billion from EUR8.92 billion in 2020.

Earnings before interest and taxes before special items declined to EUR1.02 billion from EUR1.12 billion the year prior, Fresenius said.

The company raised its earnings guidance for the full year, now expecting net income to grow in a long single-digit percentage range at constant currencies. Fresenius had previously expected an at least broadly stable net income development at constant currencies. Its sales growth outlook remains the same, as the company projects sales growth in a low-to-mid single digit percentage range at constant currencies.

Fresenius Medical Care, the company's dialysis division, reported a declining net profit for the quarter, which came in at EUR219 million from EUR351 million the year prior. Revenue was EUR4.32 billion, compared with EUR4.56 billion in 2020. The company said that the pandemic continues to adversely affect the business.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

07-30-21 0141ET

Stocks mentioned in the article
ChangeLast1st jan.
FRESENIUS MEDICAL CARE AG & CO. KGAA -0.23% 61.18 Delayed Quote.-10.29%
FRESENIUS SE & CO. KGAA 0.57% 41.355 Delayed Quote.9.29%
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Analyst Recommendations on FRESENIUS SE & CO. KGAA
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Financials
Sales 2021 37 433 M 43 766 M 43 766 M
Net income 2021 1 818 M 2 126 M 2 126 M
Net Debt 2021 22 787 M 26 642 M 26 642 M
P/E ratio 2021 12,7x
Yield 2021 2,08%
Capitalization 23 078 M 27 004 M 26 982 M
EV / Sales 2021 1,23x
EV / Sales 2022 1,10x
Nbr of Employees 312 734
Free-Float 73,1%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 41,36 €
Average target price 49,88 €
Spread / Average Target 20,6%
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Managers and Directors
Stephan Sturm President & Chief Executive Officer
Rachel Clare Empey Chief Financial Officer
Wolfgang Kirsch Chairman-Supervisory Board
Sebastian Biedenkopf Legal, Compliance & Human Resources Director
Klaus-Peter MŘller Independent Member-Supervisory Board