Fresenius Medical Care, the world’s largest provider of dialysis products and services, has proved resilient during the COVID-19 pandemic and remains on its growth course, Chief Executive Officer Rice Powell said at today’s Annual General Meeting. In order to protect all participants’ health amid the pandemic, this year’s meeting, originally set for May, was not held as usual in Frankfurt but as a virtual meeting on the Internet. Powell spoke from the company’s North America headquarters in Waltham, Massachusetts, in the United States, while other Management and Supervisory Board members joined from locations around the world.
In his speech to the shareholders, Powell stressed the essential contributions that Fresenius Medical Care is making during the pandemic: “We have proven to our patients that we are there for them, no matter what. All of our production sites are fully operational and able to meet demand, our supply chains remain intact, and our clinics open. This is vital for our patients.”
The CEO confirmed the company’s 2020 outlook, with revenue and net income growth in the mid to high single-digit range expected. “Our strong performance in the first half of the year proves the resilience of our vertically integrated business model, and it shows our strength in taking care of people – even in a challenging environment,” said Powell. “Summing up, we intend to continue our success story. Fresenius Medical Care is well-positioned to grow further – this year and in the post-COVID era.”
In addition, Powell outlined the company’s Global Sustainability Program, which was started last year and is under his direct responsibility. Management Board members’ compensation will in future also be oriented to this program. The new compensation system, which includes a non-financial performance target, was approved by the Annual General Meeting with a large majority.
A large shareholder majority of 99.89 percent also approved the company’s 23rd consecutive dividend increase. The dividend will be raised by 3 percent, to €1.20 per share.
Shareholder majorities of 96.60 and 94.58 percent, respectively, approved the actions of the General Partner and the Supervisory Board in 2019.
At the virtual Annual General Meeting, 79 percent of the registered capital was represented.