Fresenius SE & Co. KGaA Annual General Meeting: Health care group confirms outlook 2012, 19th consecutive dividend increase

Fresenius is aiming for new record sales and earnings this year. Ulf Mark Schneider, CEO of Fresenius, confirmed the Group outlook 2012 at the company's Annual General Meeting in Frankfurt today: "We expect sales to increase at the upper end of the targeted range of 10 to 13%, and net income to grow by 12 to 15%, both on a constant-currency basis." The health care group raised its outlook in late April, after an excellent first quarter. Previously, the company had expected net income* growth of 8% to 11%.

*Net income attributable to shareholders of Fresenius SE & Co. KGaA – adjusted for a non-taxable investment gain of €30 million at Fresenius Medical Care; 2011 adjusted for the effects of mark-to-market accounting of the Mandatory Exchangeable Bonds and the Contingent Value Rights.

Looking ahead, Fresenius has the ideal strategic posture for further growth. Ulf Mark Schneider said: "We are benefiting significantly from major global health care trends: an aging population, dynamic emerging markets growth, the increasing importance of generics, and the rise of private providers in health care services. Based on the increasing demand for high-quality, affordable health care, we expect mid-term average annual organic sales growth of 6 to 9%, and we are targeting Group net income of more than €1 billion in 2014."

At the Annual General Meeting, a 99.95% majority of Fresenius SE & Co. KGaA's shareholders approved the 19th consecutive dividend increase proposed by the general partner and the Supervisory Board. Shareholders will receive €0.95 per ordinary share (2010: €0.86), an increase of 10%.

The shareholders, with a majority of over 98%, authorized the general partner to issue option and convertible bonds in a total nominal amount of up to €2.5 billion. A shareholder majority of 97% authorized the company to purchase and use own shares up to a maximum amount of 10% of the share capital.

A shareholder majority of over 99% approved the actions of both the Management and Supervisory Boards in 2011.

At the Annual General Meeting, 76% of the subscribed capital was represented.