Saving lives – with and beyond dialysis
Doubling up on a second chance
A robot at the operating table
Midwife, a dream job
My 50 years of dialysis
An almost irreplaceable organ
Living life to the fullest with dialysis
Growing up with parenteral nutrition
The History of Dialysis
Serving patients in Swaziland
"I want to help others, so they won’t give up"
From a local pharmacy to a global corporation
We employ a balanced mix of equity and debt to optimize the average cost of capital. We ensure financial flexibility by using a broad spectrum of financing instruments. Our financing profile is characterized by a wide spread of maturities up to 2033.
Sufficient financial cushion is assured for the Fresenius Group by unused syndicated and bilateral credit lines. In addition, Fresenius SE & Co. KGaA and Fresenius Medical Care AG & Co. KGaA maintain commercial paper programs. The Fresenius Medical Care receivable securitization program offers additional financing options.
In present capital market conditions, we optimize our cost of capital if we hold the net debt/EBITDA ratio within a range of 3.0 to 3.5x (after adoption of IFRS 16). Based on expected lower contributions to Group EBITDA from Fresenius Medical Care as well as assumed cash phasing effects in Q4/21, Fresenius does not expect the net debt/EBITDA3 ratio of 3.55x1,2 as of September 30, 2021 to improve in Q4/21 (December 31, 2020: 3.44x1,2).
In line with the Group’s structure, financing for Fresenius Medical Care and for the rest of the Fresenius Group is conducted separately. There are no joint financing facilities and no mutual guarantees.
1 At LTM average exchange rates for both net debt and EBITDA, pro forma closed acquisitions/divestitures
2 Before special items
3 At LTM average exchange rates for both net debt and EBITDA; pro forma closed acquisitions/divestitures; excluding further potential acquisitions; before special items
