Financial Results
Q3 2025: Disciplined execution drives continued strong performance – guidance raised
Strong organic revenue and excellent EPS growth; EBIT growth guidance raised
- Group revenue1 at €5,477 million with organic growth of 6%1,2 driven by consistent delivery across Fresenius Kabi and Fresenius Helios.
- Group EBIT1 at €574 million with 6% growth in constant currency; growth accelerated from Q2/2025 driven by the strong operating performance at Fresenius Kabi, and a solid development at Fresenius Helios despite usual seasonality in Spain and the high prior-year base due to energy relief payments in Germany; Group EBIT margin1 improved to 10.5%.
- Core EPS1,4 increased by excellent 14%3 in constant currency to €0.62 based on strong operating results and significantly decreased interest expense.
- Net debt/EBITDA ratio at 3.0x1,5 within the self-imposed target corridor driven by strong cash flow delivery.
1 Before special items
2 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
3 Growth rate adjusted for Argentina hyperinflation
4 Excluding Fresenius Medical Care
5 At average exchange rates for both net debt and EBITDA; pro forma closed
acquisitions/divestitures, including lease liabilities, including Fresenius Medical Care
dividend, net debt adjusted for the valuation effect of the equity-neutral exchangeable bond
Q3/25 Results
WebcastSelected Key Figures Q3/2025
GROUP REVENUE 1
€ 5477 m
+ 6% 2
Q3/24: €5,303 m
GROUP EBIT 1
€ 574 m
+6% 3
Q3/24: €552 m
NET INCOME 1, 4
€ 351 m
+14% 3
Q3/24: €312 m
EPS 1, 4
€ 0.62
+14% 3
Q3/24: €0.55
1 Before special items
2 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
3 Growth rate at constant currency (cc) and adjusted for Argentina hyperinflation
4 Excluding Fresenius Medical Care
Revenue by business segment
| € in millions | Q3/25 | Q3/24 | Growth at actual rates | Growth at constant rates | Organic growth1 | Acquisitions/Divestitures | % of total revenue |
|---|---|---|---|---|---|---|---|
Fresenius Kabi | 2,141 | 2,114 | 1% | 6% | 7%1 | -1% | 39% |
Fresenius Helios | 3,240 | 3,082 | 5% | 5% | 5% | 0% | 59% |
Total | 5,477 | 5,303 | 3% | 5% | 6% | 0% | 100%2 |
-
1 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
2 Remaining 2% Corporate/Other revenue
Before special items