Fresenius remains on course for growth, even in the face of significant challenges presented by the COVID-19 pandemic. This was confirmed by Chief Executive Officer Stephan Sturm at the global healthcare group’s Annual General Meeting today. Originally scheduled for May, the AGM was held as a virtual meeting on the Internet in order to protect the health of all participants.
In his speech to shareholders, Sturm underlined Fresenius’ important role in the current situation: “We are needed – more than ever. We help ensure that healthcare systems around the world can continue to function. Even in a crisis such as this. We are doing everything we can to provide the best possible care for patients. This is our responsibility, and we will fulfill it. I am proud of that.”
Despite the strains caused by the pandemic and the additional effort required, Sturm confirmed the company’s medium-term outlook for 2020 to 2023. Sales growth is expected to increase by an annual average of 4 to 7 percent and net income growth1 by an annual average of 5 to 9 percent over this period. “We will grow somewhat less than planned this year due to the coronavirus,” said Sturm. “This must be compensated for in the coming years. I believe we are on the right path. There is no reason to diverge from this goal. The need for high-quality medicine is increasing worldwide. We offer high-quality medicine. We want to serve this demand, and we can. That is why we will continue to be successful.”
1 Net income attributable to shareholders of Fresenius SE & Co. KGaA
Shareholders approved with a large majority of 99.99 percent the proposal of the General Partner and the Supervisory Board to increase the dividend for the 27th consecutive time. It was raised by 5 percent, to €0.84 per share.
Shareholder majorities of 99.68 percent and 85.14 percent, respectively, approved the actions of the Management and Supervisory Boards in 2019.
At the virtual Annual General Meeting, 73 percent of the subscribed capital was represented.