FAQ

Where does Fresenius SE & Co. KGaA have its registered office?
The company’s registered office is situated at Else-Kröner-Str. 1, 61352 Bad Homburg v.d.H., Germany.

When was Fresenius SE & Co. KGaA founded?
The origins of Fresenius SE & Co. KGaA date back to the firm “Dr. Eduard Fresenius, Chemisch-pharmazeutische Industrie”, which was founded in 1912 by Dr. Eduard Fresenius, the proprietor of the Hirsch pharmacy in Frankfurt am Main. The founder’s wide-ranging contacts to doctors and scientists served as the foundations for the company and shaped its extensive portfolio of products. The company was converted into the joint stock company Fresenius AG at the end of 1981 in order to secure its continuity. The conversion of Fresenius SE into a partnership limited by shares (KGaA) took effect on January 28, 2011 with the entry of Fresenius SE & Co. KGaA in the commercial register of Bad Homburg municipal court.

What are Fresenius SE & Co. KGaA’s core businesses?
Fresenius’ core businesses are products and services for dialysis, hospitals and out-patient medical care. In addition, Fresenius focuses on hospital operations. We also manage projects and provide services for hospitals and other health care facilities worldwide.

The Fresenius Group consists of four business segments which operate globally as separate and independent legal entities: Fresenius Medical Care, Fresenius Kabi, Fresenius Helios and Fresenius Vamed.

How many employees does Fresenius SE & Co. KGaA have?
The Group had 316,920 employees as of December 2022 (December 31, 2021: 316,078).

When does Fresenius SE & Co. KGaA’s financial year end?
The financial year ends on December 31.

How does Fresenius SE & Co. KGaA draw up its Group financial statement?
Fresenius SE & Co. KGaA ("Fresenius") reports since January 1, 2017 in accordance with International Financial Reporting Standards (IFRS).

Fresenius, as a publicly traded company based in a European Union member country, is required to prepare and publish its consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) pursuant to Section 315e of the German Commercial Code (HGB).

How high were total assets and shareholders’ equity?
The Group had total assets of €76,415 million as of December 31, 2022 (December 31, 2021: €71,962 million) while shareholders’ equity including minority interests amounted to €32,218 million (December 31, 2021: €29,288 million).

What were Fresenius SE & Co. KGaA’s sales?
Sales of €40,840 million were achieved in the financial year 2022 (2021: €37,520 million).

How do financial analysts’ current estimates look like?
For an overview of analysts’ current recommendation please click here.

When will the next earnings results be released?
For an overview of our next earnings releases please click here.

Which key performance indicators are important for Fresenius SE & Co. KGaA?
The Management Board controls the business segments by setting strategic and operating targets and through financial ratios. In line with our growth strategy, sales growth (in constant currency) of the Group and, in our business segments, in particular organic sales growth is of central importance. Operating income (EBIT: earnings before interest and taxes) and the EBIT margin, respectively, are relevant for measuring the profitability of the business segments. At Group level, we primarily use net income to this end.

At Group level, we use return on operating assets (ROOA) and return on invested capital (ROIC) as benchmarks for evaluating our business. Another key performance indicator at the Group level is the debt ratio, which is the ratio of net debt to EBITDA.

For an overview of our performance measures please click here.

Does Fresenius conduct animal trials?
We conduct animal trials for our products in keeping with statutory regulations. New medications must be tested on animals for safety, tolerance and efficacy before they can be admitted to use for humans. This is stipulated internationally by law and is restricted to the scale that is absolutely necessary.

Does Fresenius conduct animal trials itself?
Fresenius does not conduct the tests itself but engages firms or other institutions which are specialized in this field and are therefore optimally equipped to fulfill all the requirements concerning the protection of animals. These institutions draw up the test plan, which has first to be approved internally. An application for official approval is then filed with the competent District Administration.

When was the IPO of Fresenius?
The Fresenius preference shares were admitted to trading in December 1986. The Fresenius ordinary shares were admitted to trading in July 1992. The shares were listed on the stock exchanges in Frankfurt, Düsseldorf and Munich. In January 2011, the legal form of Fresenius SE was changed to a partnership limited by shares (KGaA) and all preference shares were mandatorily converted into ordinary shares.

Under what quotation symbols are the Fresenius SE & co. KGaA shares to be found?
The Bloomberg symbol of the Fresenius SE ordinary share on XETRA is FRE GR. The Reuters symbol on XETRA is FREG.de.

How high was the dividend for the past financial year, and when was it paid?
For FY/21, the dividend amounts to €0.92 per share, an increase of 5% (FY/20: €0.88). This was the 29th consecutive dividend increase. 

For 2021, shareholders had the option to receive their dividend (except for the tax portion of the dividend) in the form of new Fresenius shares. The cash dividend was paid and the new Fresenius shares were booked into the shareholders' securities accounts on June 13, 2022. This later than usual date was due to the technical settlement process related to the scrip dividend. As in previous years, shareholders could receive a dividend fully paid in cash.

The Fresenius SE dividend policy as well as other information about our dividend is available here.

What do I have to do as a shareholder in order to receive the dividend?
German shares must be deposited no later than the day of the Annual General Meeting in order for shareholders to be entitled to a dividend. The dividend will be paid automatically to your account by your bank/saving bank.

What is the structure of Fresenius SE & Co. KGaA’s capital stock?
The subscribed capital of Fresenius SE & Co. KGaA amounted to 563,237,277 ordinary shares as of December 31, 2022 (December 31, 2021: 558,502,143). The shares of Fresenius SE & Co. KGaA are non-par-value bearer shares. Each share represents € 1.00 of the capital stock.

Who are the principal shareholders of Fresenius SE & Co. KGaA?
The Else Kröner-Fresenius-Stiftung is the largest shareholder of Fresenius SE & Co. KGaA, holding approximately 27% of the voting capital. An overview of our shareholder structure can be found here.

Where can I find information on the Fresenius share price?
Under "Share Price" you can find our interactive tool that allows you to analyze and graph the Fresenius SE & Co. KGaA share price.

Where can I find information on the Fresenius’ financial targets?
Under "Outlook" you can find the outlook for the Fresenius Group and each of the business segments as well as our assumptions for special items for the FY/23 guidance.

When will the next Annual General Meeting take place?
Our virtual Annual General Meeting (AGM) takes place on May 17, 2023.

When is the record date in 2023?

The record day is on April 26, 2023. In order to participate in the Annual General Meeting and to exercise voting rights shareholders had to submit special proof of share ownership which refers to the beginning of the record date, i.e. 0.00 h CEST.

The record date does not result in a blocking period during which it is not allowed to sell shares. Even in the event of full or partial disposal of the shareholding following the record date, only the shares owned by the shareholder on the record date will be relevant for participation in the Annual General Meeting and the scope of voting rights, i.e. disposal of shares after the record date will not affect entitlement to participate in the Annual General Meeting and the scope of voting rights. This also applies if (additional) shares are purchased after the record date. Persons who do not own any shares on the record date, and become shareholders only after the record date, are not entitled to participate in the Annual General Meeting and to exercise voting rights. The record date does not constitute a date of relevance to the entitlement to dividends.

When do I need to have a Fresenius share in my deposit in order to be entitled for dividend?
The shares must be in the deposit at the latest by the end of the day of the Annual General Meeting in order for shareholders to be entitled to dividends resolved by the Annual General Meeting.

When is the “Ex-Dividend Date” in 2023?
The “Ex-Dividend Date” is on May 18, 2023.

When is the dividend payment day?
The dividend will be paid on May 23, 2023.

Can every shareholder attend the Annual General Meeting?
All shareholders can follow the Annual General Meeting online or appoint a representative as long as he/she fulfils the conditions stated in the agenda. However, only holders of ordinary shares have a voting right as a general rule. You can call up the agenda on our website as from the day of its publication.

How and where can I register for the Annual General Meeting?
The invitation with the agenda of the Annual General Meeting will be delivered to you by your depositary bank before the Annual General Meeting. Enclosed with the invitation is a letter from your depositary bank with which you can order the admission ticket either for yourself or for someone else of your choice.

Is it possible to receive a free copy of the documents regarding the Annual General Meeting? Who should I contact?
Of course you can receive a free copy of the documents regarding the Annual General Meeting. Please contact our Investor Relations department.

What does sustainability mean for Fresenius?
Sustainability is deeply embedded in our thinking and our actions – at all levels of our company. Since Fresenius was established more than a century ago, our business model has been focused on the well-being of our patients. Social responsibility is reflected not only in our commitment providing access to healthcare and medicine to as many people as possible, but in our ambition to be a reliable partner for healthcare systems worldwide and a good employer to more than 300,000 people. To act in an environmentally sustainable way we use natural resources as carefully as possible. Our economic sustainability is demonstrated by our continued success and our long-term growth strategy.

How is ESG anchored in the Groups’ organization?
Sustainability at Fresenius is the responsibility of the CEO. The Group Management Board is regularly informed about sustainability issues by the Investor Relations & Sustainability department. The Management Board and the Supervisory Board review the progress and the results of the sustainability management, which are then published in the separate Group Non-financial Report.

Investor Relations & Sustainability coordinates the implementation of sustainability guidelines and standards at operational level and is responsible for the non-financial reporting of the Fresenius Group. Business Integrity is responsible for our Code of Conduct and manages issues relating to human rights, supply chain, and compliance. Data protection and cybersecurity are independent areas of responsibility.

The departments and functions on Fresenius SE & Co. KGaA level support the business segments in the development of guidelines and management concepts relating to these sustainability topics. The business segments have also defined departments and responsible persons – often in the form of sustainability officers who coordinate all.

The Group Sustainability Board (GSB) was introduced in 2020 and is composed of those responsible for sustainability at Group level and in the business segments. The Board discusses the future sustainability strategy of the Fresenius Group. The overall goal of the Group Sustainability Board is to identify the most important sustainability issues for the Group and to strengthen intra-Group cooperation. Further, it discusses relevant regulatory frameworks and reporting requirements.

What are the most important sustainability topics at Fresenius?
Our priorities derive from our materiality analysis performed during 2020. As a result, we have identified six main topic clusters and 15 individual topics. We review the material topics annually to ensure that they reflect the latest developments. For more information please refer to our Sustainability Report. 

Most relevant for our business is the well-being of our patients. We are committed to providing access to healthcare and medicine to as many people as possible worldwide. We strive for highest patient and product safety and follow strict requirements to ensure quality and safety.

Further, Compliance and Integrity and Human Capital Management are core to the success of our operating business.

How is Fresenius rated by the ESG rating agencies?
An overview of the current ESG ratings is available on our website.

What is Fresenius' position on environmental protection?
As a health care Group, Fresenius feels a responsibility to protect the environment and use natural resources carefully because only a healthy environment can be a home for healthy people. It is important to avoid possible negative effects on the environment and health. To this end, we identify and evaluate potential hazards and take the necessary measures to protect the environment. In our Groupwide materiality analysis, we identified the following topics for our internal environmental management strategy as particularly relevant to our core business:

• Water management
•  Waste and recycling management
• Climate protection – energy and emissions

Further information is included in the chapter Environment in our Sustainability Report.

Does Fresenius have a climate target?
Fresenius has set a climate target for the Group complementing its existing sustainability targets and programs. The company aims to be climate neutral by 2040 and to reduce 50% of absolute scope 1 and scope 2 emissions by 2030 compared to 2020 levels. Fresenius will continuously assess scope 3 emission impacts for inclusion in targets. For further information please refer to our website.

Where can I find sustainability related key figures?
Our interactive tool offers a variety of key figures of the Fresenius Group and the business segments. These figures can individually be analyzed and visualized.

What is good corporate governance for Fresenius?
The Supervisory Board and the Management Board are committed to responsible management that is focused on achieving a sustainable increase in the value of the Company. Long-term corporate strategies, solid financial management, strict adherence to legal and ethical business standards, and transparency in corporate communication are key factors.

Our Corporate Governance Declaration can be found here.

How is the compensation of the Management Board structured at Fresenius?
On May 21, 2021, the Annual General Meeting approved a new compensation system for the members of the Management Board.  It is, as a whole, performance-based and geared towards promoting sustainable corporate development. It is composed of the following elements:

• Fixed compensation and fringe benefits
• Short-term incentive (bonus)
• Long-term incentive (multiyear variable compensation comprising performance shares and postponed payments of the one-year variable compensation / of the bonus)

In addition, there are pension commitments for the members of the Management Board.

In 2023, the compensation system and related changes to the targets are presented to the AGM for approval. Details on the compensation of the Management Board are available in the AGM invitation 2023.

How is the compensation of the Supervisory Board structured at Fresenius?
On May 21, 2021, the Annual General Meeting approved a new compensation system for the members of the Supervisory Board.

Details on the compensation of the Supervisory Board are available in the  AGM invitation 2021.

The following information does not contain all information that may be important to you. For more complete information, we highly recommend that you read the entire deposit agreement and the form of American Depositary Receipt, which contains the American Depositary Receipts terms.

What is an American Depositary Receipt (ADR)?
An American Depositary Receipt (ADR) is a U.S. dollar denominated negotiable certificate that represents ownership of shares in a non-U.S. compan

Each ADR is issued by a U.S. depositary bank (which is a bank in the United States which oversees all the stock transfer and agency services in connection with a depositary receipt program) and represents one or more shares of a foreign stock or a fraction of a share. If investors own an ADR they have the right to obtain the foreign stock it represents, but U.S. investors usually find it more convenient to own the ADR. The price of an ADR is often close to the price of the foreign stock in its home market, adjusted for the ratio of ADRs to foreign company shares. ADRs were specifically designed to facilitate the purchase, holding and sale of non-U.S. securities by U.S. investors.

Fresenius ADRs represent Fresenius’ local shares deposited with the depositary bank (Deutsche Bank Trust Company Americas), to underlie such certificates and carry the rights attached to them as detailed in the Depositary Agreement. Holders of ADRs receive dividends in U.S. dollars and have the right to vote on shareholders resolutions, where applicable.

What is the difference between an ADR and an ADS?
An ADR (American Depositary Receipt) is a negotiable certificate issued by a depositary bank representing a specific number of shares of a non-U.S. company traded on a U.S. stock exchange. An ADS (American Depositary Share) is the share issued under the ADR agreement which is actually traded. Although the terms ADR and ADS are often used interchangeably, the difference is that an ADR is the certificate while the ADSs are the shares.

What are the benefits of ADRs to U.S. investors?
U.S. investors may prefer to purchase ADRs rather than local shares in the issuer’s home market because ADRs trade, clear and settle in U.S. Dollars and according to U.S. market conventions. ADRs also allow easy comparison to securities of similar companies as well as access to price and trading information. Holders of ADRs also receive dividends in U.S. dollars.

What is an ADR ratio?
The ADR ratio is the relation between the number of ADRs and the number of local shares. Four Fresenius ADRs represent one Fresenius local share, i.e. the ratio is 4:1. The ratio was changed in conjunction with the stock split on August 1, 2014, becoming effective on August 4, 2014. Before that the ADR ratio was 8:1.

How can I buy Fresenius ADRs?
Fresenius ADRs can be purchased like any other stocks, through your U.S. banks and brokers.

Where are Fresenius ADRs traded?
Fresenius ADRs are traded in the U.S. OTC (over the counter) market under the ticker symbol FSNUY. The Cusip Number is 35804M105.

What is an OTC Market?
The OTC market is the market for over-the-counter securities in the United States. This is where sponsored Level I ADR programs are traded.

How are dividends paid?
ADR holders will receive the dividend in U.S. dollars. The depositary bank typically announces the final ADR dividend rate following conversion into U.S. dollars. ADR rates and pay dates will be published on www.adr.db.com

Where do I get information and updates on Fresenius?
Financial and stock information is available here.
Trading information is readily available on our depositary bank’s website and on the website of OTC Markets.

Who is Fresenius’ depositary bank, transfer agent, registrar and exchange agent for ADR shares?
Fresenius’ ADR program is administered by Deutsche Bank Trust Company Americas (Deutsche Bank). As the depositary bank, Deutsche Bank performs the following roles for ADR holders as further detailed in the Deposit Agreement:

• Records and maintains the register of ADR holders,
• Is the stock transfer agent,
• Distributes dividends in U.S. dollars,
• Facilitates the voting process and the exercise of the voting rights of ADR holders at any Company
• General Meeting if permitted by the Company and the Depositary Agreement,
• Issues and cancels Fresenius American Depositary Receipts (ADRs),
• Can distribute Company circulars and General Meetings (including Annual General Meeting) documentation, if applicable.

For those holders who are not registered because their ADRs are held through a ‘Street name’ (nominee account), your nominee will receive Company documents from time to time from Deutsche Bank to distribute to ADR holders. You need to make arrangements with your nominee if you wish to receive such documents and to be able to exercise your vote through the depositary bank at General Meetings (if applicable).

How can I contact Deutsche Bank?
Contact details for ADR brokers & institutional investors:

US - Tel: +1 212 250 9100
UK - Tel: +44 207 547 6500
e-mail: adr@db.com

Contact details for registered ADR Holders:
Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
Peck Slip Station
P.O. Box 2050
New York, NY 10272-2050

e-mail: DB@amstock.com
Toll-free number: +1 800 937 5449
Direct Dial: +1 718 921 8124
http://www.amstock.com/

How do I convert my local shares into ADRs?
Converting local shares into ADRs must be done through a broker, investment advisor or directly through Deutsche Bank Trust Company Americas. You can contact Deutsche Bank broker services desk on +1 212 250 9100 or +44 207 547 6500, or by email on adr@db.com.

What if I lose my ADR certificate, dividend check or tax voucher?

If you do not hold via a broker, bank or nominee, please contact our transfer agent:

Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
Peck Slip Station
P.O. Box 2050
New York, NY 10272-2050

e-mail: DB@amstock.com

Toll-free number: +1 800 937 5449
Direct Dial: +1 718 921 8124

What if I have more than one ADR certificate? Can they be combined?
Yes. Certificates can be combined by contacting our transfer agent:

Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
Peck Slip Station
P.O. Box 2050
New York, NY 10272-2050

e-mail: DB@amstock.com

Toll-free number: +1 800 937 5449
Direct Dial: +1 718 921 8124

How can I get the latest news of Fresenius?
Stay informed about the latest news and developments at our Group by subscribing to our Investor News and/or to the Fresenius Brief News. These services are free of charge and may be cancelled at any time. Our Information & Order Service is available  here. Please scroll fully down this page.

Where can I find financial and sustainability key figures?
Our interactive tool offers a variety of key figures of the Fresenius Group and the business segments on an annual and quarterly basis. These figures can individually be analyzed and visualized.