Fresenius Medical Profit Rises on Higher Dialysis Demand
Fresenius Medical Care AG, the world’s biggest provider of kidney dialysis, reported a 10 percent gain in third-quarter profit and raised its forecast for the year.
Net income rose to $248 million from $225 million a year earlier, the Bad Homburg, Germany-based company said today in a statement. That beat the $244.2 million estimate of five analysts surveyed by Bloomberg News in the past month. Sales increased 6 percent to $3.06 billion.
Fresenius said it now expects 2010 net income to rise to between $960 million and $980 million, compared with a previous estimate of between $950 million and $980 million. The company still expects revenue of more than $12 billion.
“Fresenius Medical Care will continue to represent an attractive investment story over the coming years,” Stephan Gasteyger, an analyst with Jefferies International Ltd., said in a note to clients today.
Fresenius’s sales in North America, its largest market, rose 6 percent to $2.07 billion. Average revenue per treatment in the region increased to $359 in the third quarter from $348 a year earlier.
Parent company Fresenius SE reported third-quarter profit of 193 million euros ($269 million), an increase of 51 percent from last year.
Fresenius SE now expects net income to increase by about 20 percent this year in constant currency, with revenue rising by 8 to 9 percent.
Shares of Fresenius Medical Care fell 7 cents or 0.2 percent to 45.58 euros at 9:51 a.m. in Frankfurt trading. Shares of the parent company rose 1.27 euros or 2 percent to 64.52 euros in Frankfurt today.
Fresenius SE, also based in Bad Homburg, runs private hospital operator Helios and the Vamed services unit; Fresenius Kabi, which sells infusion therapies and clinical nutrition; and a biotechnology unit.
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