Fresenius SE Profit Rises 12% on Hospital and Intravenous Units
Stock Chart for Fresenius Medical Care AG & Co KGaA (FME)
Fresenius SE said first-quarter profit climbed 12 percent, boosted by the performance of two units that manage hospitals and sell intravenous therapies.
Net income adjusted for some items rose to 224 million euros ($293 million), the Bad Homburg, Germany-based company said in a statement today. The company reiterated a February forecast for 2013 profit to exceed 1 billion euros. Sales will rise 7 percent to 10 percent this year in constant currencies, while adjusted net income is set to increase 7 percent to 12 percent, Fresenius repeated.
Sales rose 11 percent to 4.89 billion euros, compared with the 4.91 billion-euro average estimate of eight analysts surveyed by Bloomberg. The German health company’s Kabi unit sells therapies and drugs administered intravenously to hospital patients. Fresenius also owns the Helios hospital operator and health-care services unit Vamed.
Fresenius also owns about 30 percent of Fresenius Medical Care AG, the world’s biggest provider of kidney dialysis. Fresenius Medical Care’s adjusted first-quarter profit fell 8 percent to $225 million, missing the $262 million-euro average estimate of nine analysts surveyed by Bloomberg.
This year sales will probably exceed $14.6 billion, while net income will be $1.1 billion to $1.2 billion, the dialysis company said, repeating a forecast from February.
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