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Financial Highlights 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

KABI Revenue 1

2141 m

+7% 2

Q3/24: €2,114 m

HELIOS Revenue 1

3240 m

+5% 

Q3/24: €3,082 m

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

2024 – What a successful year!

Listen to CEO Michael Sen on how our #FutureFresenius transformation is clearly paying off: today, we are a simpler, more focused, and stronger healthcare company.

Tune in!

 

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#FutureFresenius is clearly paying off:

Q3/25: Disciplined execution drives continued strong performance – guidance raised 

  • Strong organic revenue and EBIT growth driven by consistent delivery across Fresenius Kabi and Fresenius Helios
  • Strong bottom-line performance continues with 14% EPS growth driven by operating strength, cost discipline and significant decreased interest expense
  • Fresenius Kabi: excellent 16.7% EBIT margin
  • Fresenius Helios: strong organic revenue growth and solid EBIT margin despite usual seasonality
  • Leverage within self-imposed target corridor driven by strong cash flow delivery
  • Raising EBIT growth guidance to 4 - 8%

     

View the full Q3/25 update in the Financial Results section 

Read more about our company strategy!
 

Biopharma ‘Meet the Management’

December 15, 2025 - 01:00 pm CET
Virtual

Biopharma ‘Meet the Management’

Members of the Fresenius and Fresenius Kabi management team provided insights into the Biopharma segment. 

Please use the link below to watch the replay of the webcast.
 

Latest

Conference Call Full Year Results 2025

February 25, 2026
Bad Homburg, Germany

Conference Call Full Year Results 2025

Next event

“Fresenius is accelerating with purpose, and our transformation is delivering tangible results. Our disciplined execution and performance-oriented culture have resulted in 14% growth in Core EPS, a 6% increase in organic revenue growth, and margin improvements, enabling us to raise our full-year EBIT guidance to 4%-8%. 
Fresenius Kabi and Fresenius Helios continue to perform well, while investments in digital health and advanced therapies are reshaping patient care. Despite the current macroeconomic environment, we continue to perform and meet our commitments. With Rejuvenate now driving measurable progress and a clear focus on patient care, we are creating sustainable value for patients, partners, and shareholders – today and into the future.”

Michael Sen, Chairman of the Management Board

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mAbxience, a Fresenius entity, has entered into a collaboration with HP Inc. to develop an artificial intelligence (AI) solution aimed at making biomanufacturing more efficient and reliable.

The joint project uses AI and digital-twin technology to model and optimize key steps in the production of monoclonal antibodies and biosimilars. By simulating critical cell-culture parameters and predicting process outcomes, the system is designed to support more consistent yields, faster development cycles, and better control of large-scale manufacturing environments. This is a showcase of Fresenius’ pathway in leveraging AI and digital solutions, from production and supply-chain to care delivery, improving treatment quality, and expanding access to state-of-the-art therapies.                                                                

Both partners view the technology as a significant step toward more data-driven and tightly managed bioproduction. The prototype, developed with real manufacturing data and validated in an industrial setting, enables teams to test scenarios virtually before applying them on the shop floor.

This initiative is the first project under a broader strategic framework between HP and mAbxience at its manufacturing facility in Leon, Spain, and has the potential to be rolled out across additional sites. It represents another milestone in advancing Fresenius’ (Bio)Pharma platform and supports the goals of #FutureFresenius.

Fresenius in Spain

The global healthcare company Fresenius is deeply rooted in Spain. With Quirónsalud, the country’s leading hospital operator, and Fresenius Kabi, offering essential medicines and technologies for critically and chronically ill patients, the company makes a decisive difference in the life-quality of Spanish citizens. With the majority acquisition of mAbxience in 2022, Fresenius created a dedicated and vertically integrated biosimilars development and manufacturing platform. In line with its #FutureFresenius strategy, the company is further scaling in (Bio)Pharma to deliver simplification and drive efficiencies, underscoring its commitment to offering accessible, innovative, and high-quality healthcare solutions.

mAbxience, a Fresenius entity, has entered into a collaboration with HP Inc. to develop an artificial intelligence (AI) solution aimed at making biomanufacturing more efficient and reliable.

The joint project uses AI and digital-twin technology to model and optimize key steps in the production of monoclonal antibodies and biosimilars. By simulating critical cell-culture parameters and predicting process outcomes, the system is designed to support more consistent yields, faster development cycles, and better control of large-scale manufacturing environments. This is a showcase of Fresenius’ pathway in leveraging AI and digital solutions, from production and supply-chain to care delivery, improving treatment quality, and expanding access to state-of-the-art therapies.                                                                

Both partners view the technology as a significant step toward more data-driven and tightly managed bioproduction. The prototype, developed with real manufacturing data and validated in an industrial setting, enables teams to test scenarios virtually before applying them on the shop floor.

This initiative is the first project under a broader strategic framework between HP and mAbxience at its manufacturing facility in Leon, Spain, and has the potential to be rolled out across additional sites. It represents another milestone in advancing Fresenius’ (Bio)Pharma platform and supports the goals of #FutureFresenius.

Fresenius in Spain

The global healthcare company Fresenius is deeply rooted in Spain. With Quirónsalud, the country’s leading hospital operator, and Fresenius Kabi, offering essential medicines and technologies for critically and chronically ill patients, the company makes a decisive difference in the life-quality of Spanish citizens. With the majority acquisition of mAbxience in 2022, Fresenius created a dedicated and vertically integrated biosimilars development and manufacturing platform. In line with its #FutureFresenius strategy, the company is further scaling in (Bio)Pharma to deliver simplification and drive efficiencies, underscoring its commitment to offering accessible, innovative, and high-quality healthcare solutions.

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News

Biopharma ‘Meet the Management’

December 15, 2025 - 01:00 pm CET
Virtual

Biopharma ‘Meet the Management’

Members of the Fresenius and Fresenius Kabi management team provided insights into the Biopharma segment. 

Please use the link below to watch the replay of the webcast.
 

Latest

Conference Call Q3 2025

November 05, 2025 - 01:30 pm
Bad Homburg, Germany

Conference Call Q3 2025

Latest

#CommittedToLife

 

We save and improve human lives with affordable, accessible, and innovative healthcare products and the highest quality in clinical care.

Concentration fills the operating room, high-resolution images can be seen on several screens, the camera view penetrates deep into the finest branches of the bronchial tree, while a so-called digital twin – the personalized 3D plan of a lung – provides guidance. Dr. Joanna Krist, Senior Pulmonary Physician in Heckeshorn Lung Clinic at Helios Hospital Emil von Behring in Berlin, is looking at her control panel. With a steady hand, she guides an ultrathin, flexible catheter deep into the airways of her 59-year-old patient. He has been a heavy smoker all his life, now there is a suspicion of lung cancer. Krist follows the virtual path of the catheter on the central navigation monitor – bright blue glowing lines show her the course to the destination point: a tiny shadow in the lung tissue. A small tissue sample, which she will take shortly, should now provide certainty.

What sounds like a high-tech future has long been reality: Doctors at the highly specialized Helios lung cancer centers in Berlin and Wiesbaden are already setting new standards in the early diagnosis of disease with the robot-assisted “Ion endoluminal system” for bronchoscopy.

What you should know about lung cancer

Lung cancer remains the most common cause of cancer-related deaths in Germany and one of the most dangerous oncological diseases of all. Around 45,000 people in the country die of it every year – because the disease is often only diagnosed at an advanced stage. “The problem is that in the early stages, lung cancer causes hardly any symptoms or even discomfort, so it is usually discovered late – often when metastases are already present and treatment is no longer possible,” explains Prof. Dr. Tim Hirche, Director of the Clinic for Pulmonology at Helios HSK Wiesbaden.

The Ion system marks a turning point here. “The new robotic system for bronchoscopy is a game changer,” says Dr. Krist. “We can use it to get to the deepest lung tissue and can even reach millimeter-sized suspicious nodules – so-called coin lesions – and take samples. This has not been possible with endoscopy until now.”

Her colleague, Prof. Hirche, adds: “Ion enables us to give our patients certainty much earlier – and thus often offer them the chance of treatment. It is a real paradigm shift in the field of pulmonology.” The Ion system combines robotics, imaging techniques, and interdisciplinary medical expertise in a hitherto unparalleled manner. Find out more in the box.

Certified by the German Cancer Society, the Helios lung cancer centers in Berlin and Wiesbaden are among the first hospitals in Germany to use the robotic system for regular patient care. The technology also has scientific support at both Helios sites, with patients suitable for the procedure also being able to participate in studies.

From diagnosis to therapy

If the suspicion of lung cancer is confirmed after the examination, an interdisciplinary network immediately comes into play at Helios. Lung specialists, thoracic surgeons, oncologists, and radiologists get together on the tumor board to discuss the individual treatment plan. “Depending on the stage, this treatment can range from minimally invasive surgery in one of our two robotics centers to radiation therapy and chemotherapy or immunotherapy,” says Prof. Dr. Torsten Bauer, Chief Pulmonology Physician in Heckeshorn Lung Clinic at Helios Hospital Emil von Behring.

“The precise diagnostics using the robotic system enables us to start treatment much earlier,” stresses the specialist. With the new procedure, physicians are moving a step closer to the goal of diagnosing lung cancer earlier, less invasively, and more precisely – before symptoms even appear. For patients, this means a much lower risk, less stress, less uncertainty – and, ideally, an opportunity to gain crucial time for early treatment.

Further information

The Ion endoluminal system is a robot-assisted bronchoscopy system that allows physicians to safely reach even tiny changes in the lung tissue. Before the actual procedure – bronchoscopy – the planning software creates a detailed 3D model – the digital twin – on the basis of the CT scan carried out in advance. This makes it possible to work out the optimal pathway to the suspicious site – in a similar way to a GPS or a navigation system.

During the examination, which is carried out under anesthesia, the highly flexible catheter, equipped with sensors and a camera, is inserted into the bronchi via a breathing tube and guided with millimeter precision. At the same time, the medical practitioners also check its position with the help of state-of-the-art scanning technology – a so-called cone beam CT. Thanks to precise real-time imaging, even the smallest coin lesions can be reached with pinpoint accuracy. Tissue samples can then be taken and analyzed in a procedure that is less invasive for the patient, with a lower risk of complications than with previous procedures.

Members of the Management Board of Fresenius Management SE (General Partner):

Michael Sen, 56, became Chairman of the Management Board of Fresenius (equivalent to President and CEO) on October 1, 2022. He joined Fresenius in April 2021 as Chairman of the Management Board of Fresenius Kabi. Before joining Fresenius Kabi, Michael Sen was a member of the Management Board of Siemens AG, where he was responsible for the healthcare business Siemens Healthineers and for Siemens’ energy business. Prior to that, he was Chief Financial Officer of E.ON SE. At the start of his professional career, Michael Sen completed an apprenticeship at Siemens in Berlin and then studied business administration at the Technical University of Berlin.

Pierluigi Antonelli, 58, joined the Management Board of Fresenius in March 2023 with responsibility for Fresenius Kabi. In his previous role since 2019, he was the CEO of Angelini Pharma, a company of the Italian Angelini Group specializing in brain health and consumer health. Prior to that, he held senior leadership positions at Novartis Oncology, Sandoz, Merck & Co. and Bristol Myers Squibb in the United States and across Europe. 

Sara Hennicken (45) was appointed CFO of Fresenius as of September 1, 2022. She joined the Group in 2019 as Senior Vice President Global Treasury & Corporate Finance for Fresenius and Fresenius Medical Care. Previously, she spent 14 years in investment banking, including nine years at Deutsche Bank, lastly as Managing Director and Senior Client Executive in Corporate Finance Coverage before moving to Fresenius. Between 2005 and 2010 she worked for Citigroup in Frankfurt and London. Sara Hennicken studied economics in Germany and in the United States.

Robert Möller, 58, joined the Management Board of Fresenius in September 2023 with responsibility for Fresenius Helios. Robert Möller has been CEO of Helios Kliniken GmbH since 2022. He joined Helios in 2014, where he held the position of Clinic Managing Director at Helios Hanseklinikum Stralsund until 2017. After a short time away, he returned to Helios in 2019 and took over the management of various regions. Möller studied human medicine at the University of Hamburg and practiced as a specialist for internal medicine. After various medical positions and a part-time master's degree in health care management, he switched to hospital management while continuing to work as a physician.

Michael Moser (49) joined the Management Board of Fresenius in July 2023. He is responsible for Legal, Compliance, Risk Management, Sustainability, Human Resources, Corporate Audit and transformation of the Vamed businesses. After starting his career at Baker McKenzie, he joined E.ON SE in 2008. During this time, he inter alia became member of the Management Board of the stock listed company ENEVA in Brazil, steered the listing of Uniper and served as Deputy CEO and CFO of Enerjisa, the stock listed leading energy company in Turkey. He has received university degrees in law and business economics in Germany, USA, UK, Switzerland and China.

Contact

Fresenius SE & Co. KGaA
Else-Kröner-Str. 1
61352 Bad Homburg v.d.H.
Germany
board@fresenius.com

The information and documents contained on the following pages of this website are for information purposes only. These materials do neither constitute an offer nor an invitation to subscribe to or to purchase securities, nor any investment advice or service, and are not meant to serve as a basis for any kind of obligation, contractual or otherwise. Securities may not be offered or sold in the United States of America (“US”) absent registration under the US Securities Act of 1933, as amended, or an exemption from registration. The securities described on the following pages are not offered for sale in the US or to "US persons" (as defined in Regulation S under the US Securities Act of 1933, as amended).

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Bonds

Issuer Volume in millionCouponMaturity

Fresenius SE & Co. KGaA

 €500 0.375% 2026

Fresenius SE & Co. KGaA

 €750 1.625% 2027

Fresenius SE & Co. KGaA

 €750 0.75% 2028

Fresenius SE & Co. KGaA

CHF275 2.96% 2028

Fresenius SE & Co. KGaA

 €500 2.875% 2029

Fresenius SE & Co. KGaA

CHF225 1.5975% 2029

Fresenius SE & Co. KGaA

 €500 5.00% 2029

Fresenius SE & Co. KGaA

 €500 2.75% 2029

Fresenius SE & Co. KGaA

 €550 2.875% 2030

Fresenius SE & Co. KGaA

 €500 5.125% 2030

Fresenius SE & Co. KGaA

 €500 1.125% 2033

Fresenius SE & Co. KGaA

 €500 3.50% 2034

Fresenius Finance Ireland plc.

 €700 2.125% 2027

Fresenius Finance Ireland plc.

 €500 0.50% 2028

Fresenius Finance Ireland plc.

 €500 0.875% 2031

Fresenius Finance Ireland plc.

 €500 3.00% 2032

Schuldschein loans

Issuer Volume in millionInterest rate fixed/variableMaturity

Fresenius SE & Co. KGaA

 €157 4.40% 2026

Fresenius SE & Co. KGaA

 €117 0.85% 2026

Fresenius SE & Co. KGaA

 €207 1.96%/variable 2027

Fresenius SE & Co. KGaA

 €101 4.62% 2028

Fresenius SE & Co. KGaA

 €84 1.10% 2029

Fresenius SE & Co. KGaA

 €66 4.77% 2030

EIB loan

Issuer Volume in millionCouponMaturity

Fresenius SE & Co. KGaA

 €400 variable 2030

The European Investment Bank (EIB) is the biggest multilateral financial institution in the world and one of the largest providers of finance for climate action, providing economic support to sectors that contribute significantly to technological innovation,  growth, employment, regional cohesion and environmental sustainability in Europe and beyond. 

Fresenius received a €400 million loan in December 2025 to strengthen its European research and development (R&D) activities. The financing is used to support expansion of Fresenius Kabi's manufacturing of medical products and biosimilars in European countries.

The information and documents contained on the following pages of this website are for information purposes only. These materials do neither constitute an offer nor an invitation to subscribe to or to purchase securities, nor any investment advice or service, and are not meant to serve as a basis for any kind of obligation, contractual or otherwise. The securities described on the following pages have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States of America (the "United States") absent registration or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offering of such securities in the United States or anywhere else and, if offered, any such securities will be offered and sold only (i) outside of the United States in "offshore transactions" in accordance with Regulation S of the Securities Act and (ii) in the United States to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in transactions exempt from the registration requirements of the Securities Act.


THE FOLLOWING INFORMATION AND DOCUMENTS ARE NOT DIRECTED AT AND ARE NOT INTENDED FOR USE BY (I) PERSONS WHO ARE RESIDENTS OF OR LOCATED IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA, OR (II) PERSONS IN ANY OTHER JURISDICTION WHERE THE COMMUNICATION OR RECEIPT OF SUCH INFORMATION IS RESTRICTED IN SUCH A WAY THAT PROVIDES THAT SUCH PERSONS SHALL NOT RECEIVE IT. SUCH PERSONS, OR PERSONS ACTING FOR THE BENEFIT OF ANY SUCH PERSONS, ARE NOT PERMITTED TO VISIT THE FOLLOWING PAGES OF THE WEBSITE.

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By clicking on the "Accept" button below, you will be deemed to have made this confirmation.

The Fresenius SE & Co. KGaA Commercial Paper Program enables Fresenius to issue short-term notes of up to €1.5 bn on the money market. The issuances are made through the European Commercial Paper Program (ECP). 

 
Issuer: 

Fresenius SE & Co. KGaA, Fresenius Finance Ireland plc.

Program amount € 1,500,000,000
Arranger

Commerzbank

Dealer

Barclays, Commerzbank, Crédit Agricole, DZ BANK AG, Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen, ING Bank N.V.

Issuing and paying agent Commerzbank
Term up to 1 year less 1 day
   

Operational implementation of the Human Rights Program is ensured through Group-wide governance and clear responsibilities within the business segments and at Group level. The Management Board oversees our Group-wide Human Rights Program. The Group function Risk & Integrity reports directly to the Board member responsible for Sustainability.

Within this Group function, the Group Human Rights Office is responsible for the Group-wide human rights due diligence approach, such as the Human Rights Risk Assessment methodology. It supports the business segments in implementing requirements that serve to fulfill their human rights due diligence obligations. In addition, the Group Human Rights Office monitors relevant legal and regulatory developments. It further chairs the Human Rights Council and exchanges with the Group's Risk Steering Committee.

Each business segment has appointed a Human Rights Function. This Human Rights Function is responsible for the operational implementation of the Group-wide human rights strategy within its own business segment. It reports to the Group Human Rights Office and its respective Board or Management.

We have appointed risk owners for relevant departments. As subject matter experts, the risk owners are responsible for appropriate risk management and the implementation of risk analyses in their area of responsibility – for example in Human Resources, Procurement, or Occupational Health and Safety. 

The risk owners provide functional expertise for the risk evaluation and identification, analysis, prioritization, and management of risks. These tasks are fulfilled in collaboration with the respective risk management functions as well as with the business segment’s Human Rights Function to whom information is reported. This cross-functional exchange ensures a four-eye principle. 

We have set up a Human Rights Council to promote the exchange of information on current human-rights-related initiatives and topics within the Fresenius Group. It is made up of representatives from various functions, such as Compliance, Sustainability, Communication, and Procurement, as well as the Human Rights Functions and the Group Human Rights Office.

The Human Rights Council meets quarterly. The meetings focus on the further implementation of the Human Rights Program, the ongoing development of reporting structures as well as increasing transparency along our value chains.

Human Rights Insights

Explore our interviews:

Review of risk management: effectiveness and appropriateness

The Group Human Rights Office supports the business segments and monitors their activities for implementing human rights due diligence. The appropriateness and effectiveness of these are monitored via the implemented processes, measures and corresponding documentation. 

In addition, alongside the review by the Group Human Rights Office, internal controls are an integral part of Fresenius’ risk management. The internal control system (ICS) consists of a comprehensive set of internal controls and complementary processes. The results are incorporated into the regular review of the adequacy and effectiveness of our Human Rights Program.

We are continuously working to develop and expand the processes and procedures of our Human Rights Program. In addition, we test existing procedures as well as new approaches and concepts together with various participants. These include, for example, official advice centers for the implementation of human rights due diligence and specialized consulting firms. 
 

Contact

Fresenius SE & Co. KGaA
Else-Kröner-Str. 1
61352 Bad Homburg
Germany

humanrights@fresenius.com

Whistleblowing system

Reports on possible human rights or other types of compliance violations can be reported around the clock, either anonymously or by name, via our whistleblower system*:

Phone number: +49 (0) 800 181 1338*
https://freseniusgroup.ethicspoint.com

More infos about our grievance mechanism

*The prices of your mobile or landline contract apply

The reporting on the respect for human rights for the year 2024 and following can be found in our Sustainability Report (CSRD Report). Further information on Fresenius' human rights program is available here: fresenius.com/en/human-rights 

Fresenius announced today the launch of its denosumab biosimilars, Conexxence®1 (denosumab) and Bomyntra®2 (denosumab), in Europe.

These biosimilars received approval from the European Commission in July 2025 for all indications of the reference products Prolia®3 (denosumab) and Xgeva®4 (denosumab), respectively. 

“Being the first biosimilar company with a pre-filled syringe for the denosumab oncology indication in Europe, showcases our commitment to offering new treatment options that support patient care and affordability across Europe,” said Dr. Sang Jin Pak, President Biopharma. 

This milestone marks the next step in the company’s ambition to drive accessibility to high-quality biosimilar therapies, with multiple molecules in early and late-stage development. By continuing its successful track record in the biosimilars space, Fresenius further strengthens its (Bio)Pharma platform, a key pillar of the #FutureFresenius strategy. 

 

1. Conexxence® is a registered trademark of Fresenius Kabi Deutschland GmbH in selected countries. 
2. Bomyntra® is a registered trademark of Fresenius Kabi Deutschland GmbH in selected countries. 
3. Prolia® is a registered trademarks of Amgen Inc. 
4. Xgeva® is a registered trademarks of Amgen Inc.

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