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Fresenius Medical Care, the world’s largest provider of dialysis products and services, is aware that patient data from some of the company’s dialysis centers in Serbia has been published by unauthorized persons. The company’s understanding is that this is associated with the IT incident which affected parts of Fresenius’s IT environment a few weeks ago and that hackers were able to steal certain data. The investigation is ongoing.
Fresenius Medical Care has immediately filed a complaint against the unknown attackers with the public prosecutor in Germany. The company is committed to fully cooperate with the relevant authorities. Furthermore, the company will contact the patients who are affected by the illegal data publication.
The company’s operations in Serbia continue and the care of patients has been safeguarded.
The company deeply regrets this invasion of some patients’ privacy, is doing its utmost to prevent further data to be published and to save affected patients and other stakeholders from harm.
Internal and external specialists are continuously working to prevent further potential attacks or unauthorized data access.
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to various factors, including, but not limited to, changes in business, economic and competitive conditions, legal changes, regulatory approvals, results of clinical studies, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.
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Fresenius Medical Care, the world’s largest provider of dialysis products and services, today successfully placed bonds in two tranches with an aggregate volume of €1.25 billion:
The proceeds will be used for general corporate purposes, including refinancing of existing financial liabilities.
Helen Giza, CFO of Fresenius Medical Care, said: “I am very pleased with this successful bond issuance, showing our ability to raise debt at attractive conditions also in this challenging market environment. With this, we are enhancing our strong financial position which is the basis for investing in our sustainable long-term growth.”
The bonds were drawn under the European Medium Term Note (EMTN) Program by Fresenius Medical Care. The company has applied to the Luxembourg Stock Exchange to admit the bonds to trading on its regulated market.
The envisaged settlement date is May 29, 2020.
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities of Fresenius Medical Care to any person in Australia, Canada, Japan, or the United States of America (the “United States”) or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein have not been and will not be registered under U.S. Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent such registration, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in the United States.
This announcement neither constitutes an offer to sell nor a solicitation to buy any securities of Fresenius Medical Care. The securities referred to in this announcement have already been sold.
No action has been taken that would permit an offering of the securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions. This announcement has been prepared on the basis that any offer of Notes in any member state of the European Economic Area (EEA) (each, a “Member State”) will only be made (i) pursuant to a prospectus prepared by Fresenius Medical Care pursuant to Regulation (EU) 1129/2017 (the “Prospectus Regulation”), or (ii) pursuant to an exemption under the Prospectus Regulation from the requirement to publish a prospectus for offers of securities. Fresenius Medical Care has not authorized, nor does it authorize, the making of any offer of securities in circumstances in which an obligation arises for Fresenius Medical Care or any other person to publish or supplement a prospectus for such offer.
This announcement is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons are referred to herein as “relevant persons”). This announcement is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.
This announcement contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius Medical Care does not undertake any responsibility to update the forward-looking statements in this announcement.
The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The information in this announcement is subject to change.
June 03, 2020
Bad Homburg, Germany
June 3 – 4, 2020
June 08, 2020
Bad Homburg, Germany
June 8 – 9, 2020
Micafungin for injection, an antifungal medicine, expands the company's anti-infective portfolio.
Fresenius Medical Care, the world’s leading provider of dialysis products and services, is enhancing its home dialysis offering in the company’s Europe, Middle East and Africa (EMEA) region. The now-completed integration in EMEA of the NxStage home dialysis portfolio, following U.S.-based NxStage’s acquisition by Fresenius Medical Care, enables the company to offer even more patients at-home treatment and a wider choice of treatment methods.
Home dialysis offers a number of advantages to patients, above all the freedom to be treated on their own schedule and in the comfort of their own home. During the current difficult situation, this enables them to receive their lifesaving dialysis treatment without having to go out and risk a possible infection with COVID-19.
“Due to the integration of the NxStage portfolio in the EMEA region, we can offer lifesaving dialysis to a growing number of patients in their home environment,” said Dr. Katarzyna Mazur-Hofsäß, Fresenius Medical Care’s Chief Executive Officer for EMEA. “In this way we are expanding treatment options and contributing to continuous care. Our commitment is to be able to offer every person who needs dialysis the right therapy, at the right time, in the right place.”
With home dialysis, the therapy options include home hemodialysis (HHD) and peritoneal dialysis (PD).
The “NxStage SystemOne” from Fresenius Medical Care, an HHD system that is especially easy to operate, allows patients to dialyze more frequently but for shorter periods than in a dialysis clinic. This may bring improved treatment results: The increased dialysis frequency makes improved blood pressure control possible, is associated with faster recovery time after treatment, and helps patients feel better.
It is possible to carry out home dialysis overnight (nocturnal hemodialysis), while the patient sleeps. It can be a slower and longer treatment that more closely resembles healthy kidney function, and therefore can be gentler on the heart. In addition, the removal of toxic metabolic products from the blood is even more thorough (improved middle molecule clearance), which can allow patients to enjoy a less-restrictive diet.
Along with HHD, Fresenius Medical Care offers a broad range of products for continuous ambulatory peritoneal dialysis (CAPD) and automated peritoneal dialysis (APD), which use the body’s own abdominal membrane – the peritoneum – as a natural filter. The product range includes biocompatible dialysis fluids, bag systems, cyclers for automated peritoneal dialysis, and the related bag and tube systems.
Currently about 7 percent of dialysis patients in the EMEA region use home dialysis. Fresenius Medical Care supports both home and in-center dialysis equally, in order to provide the best and most suitable treatment for each individual patient.
Reference papers:
Pierratos A. et al. Nocturnal Hemodialysis: three-year experience. J Am Soc Nephrol 9: 859-868, 1998.
Walker R. et al. Home hemodialysis: a comprehensive review of patient-centered and economic considerations. ClinicoEconomics and Outcomes Research 9: 149-161, 2017.
Fagugli R. et al. Short daily hemodialysis: Blood pressure control and left ventricular mass reduction in hypertensive hemodialysis patients. Am J Kidney Dis 38: 371-376, 2001.
Jaber B. et al. Effect of daily hemodialysis on depressive symptoms and postdialysis recovery time: interim report from the FREEDOM (Following Rehabilitation, Economics and Everyday-Dialysis Outcome Measurements) Study. Am J Kidney Dis 56(3): 531-539, 2010.
Potassium Phosphates Injection is now available in the United States in three FDA-approved presentations. Fresenius Kabi offers the broadest portfolio of Potassium Phosphates Injection in the United States.
If no timeframe is specified, information refers to Q1/2020
2020 and 2019 according to IFRS 16
1 Not comparable to FY/20 guidance as inclusive of COVID-19 effects
2 Before special items
3 Net income attributable to shareholders of Fresenius SE & Co. KGaA
For a detailed overview of special items please see the reconciliation tables on pages 17-18 of the PDF document.
Stephan Sturm, CEO of Fresenius, said: “The COVID-19 pandemic has created unprecedented challenges for Fresenius. We are doing everything we can to continue providing the best possible care for our patients around the world. The last few weeks have shown that we have a crucial role to play in the health care systems around the world, and never more so than at a time of crisis. Our success to date is due, above all, to the tremendous dedication and commitment of our employees. Our solid first-quarter business results demonstrate the resilience of our operations and business models. It is, however, too early to say with any certainty what impact COVID-19 will have on the company’s full business year. What can be said with certainty is that we will keep working hard for our patients, and will continue to make an important contribution to overcoming this pandemic.”
Group guidance for FY/20 – Impact of COVID-19 on outlook cannot be reliably assessed at this time
Fresenius’ FY guidance published on February 20, 2020 did not take into account effects of the COVID-19 pandemic. It projected sales growth1 of 4% to 7% in constant currency and net income growth2,3 of 1% to 5% in constant currency. Fresenius anticipates that, following the solid start to the year, COVID-19 will continue to impact its business; at this time, however, a reliable assessment and quantification of the positive and negative effects is not possible. The Group hence maintains its original guidance, excluding any COVID-19 effects. Fresenius will revisit this guidance when communicating its Q2/20 results with the aim to incorporate a reliable assessment of COVID-19 effects.
This approach also applies for the Group’s net debt/EBITDA target. The original guidance, excluding effects of the COVID-19 pandemic, projects net debt/EBITDA4 to be towards the top-end of the self-imposed target corridor of 3.0x to 3.5x at the end of 2020.
Fresenius expects to see a more pronounced negative COVID-19 effect on its financial results in the second quarter than in the first quarter of 2020.
7% sales growth in constant currency
Group sales increased by 8% (7% in constant currency) to €9,135 million in Q1/20 (Q1/19: €8,495 million) driven by all business segments. COVID-19 had only a slight negative effect on sales growth. Organic sales growth was 5%. Acquisitions/divestitures contributed net 2% to growth. Positive currency translation effects of 1% were mainly driven by the U.S. dollar strengthening against the euro.
1 FY/19 base: €35,409 million
2 Net income attributable to shareholders of Fresenius SE & Co. KGaA
3 FY/19 base: €1,879 million; before special items (transaction-related expenses, revaluations of biosimilars contingent purchase price liabilities, gain related to divestitures of Care Coordination activities at FMC, expenses associated with the cost optimization program at FMC); FY/20: before special items
4 Both net debt and EBITDA calculated at expected annual average exchange rates; excluding further potential acquisitions
For a detailed overview of special items please see the reconciliation tables on pages 17-18 of the PDF document.
1% net income1,2 growth in constant currency
Group EBITDA increased by 3% (2% in constant currency) to €1,755 million (Q1/191: €1,701 million).
Group EBIT remained on prior year’s level (-2% in constant currency) at €1,125 million (Q1/191: €1,130 million), impacted by negative COVID-19 effects. At Fresenius Kabi additional demand for drugs and devices to treat COVID-19 patients late in the quarter only partially offset the anticipated headwinds in China during most of the quarter. Helios Spain also faced very significant negative COVID-19 effects in March, mainly at its private hospital and ORP businesses. The EBIT margin was 12.3% (Q1/191: 13.3%).
Group net interest before special items improved to -€174 million in Q1/20 (Q1/19: -€181 million) mainly due to successful refinancing activities. Reported Group net interest improved to -€182 million (Q1/19: -€184 million).
The Group tax rate before special items was 22.6% (Q1/19: 23.3%). The reported Group tax rate was 22.6% (Q1/19: 23.3%).
Noncontrolling interest before special items was -€271 million (Q1/19: -€271 million), of which 96% was attributable to the noncontrolling interest in Fresenius Medical Care. Reported Group noncontrolling interest was -€271 million (Q1/19: -€261 million).
1 Before special items
2 Net income attributable to shareholders of Fresenius SE & Co. KGaA
For a detailed overview of special items please see the reconciliation tables on pages 17-18 of the PDF document.
Group net income1 before special items increased by 2% (1% in constant currency) to €465 million (Q1/19: €457 million). Reported Group net income1 was €459 million (Q1/19: €453 million). COVID-19 had a significant negative effect on net income growth.
Earnings per share1 before special items increased by 1% (1% in constant currency) to €0.83 (Q1/19: €0.82). Reported earnings per share1 were €0.82 (Q1/19: €0.81).
Continued investment in growth
Spending on property, plant and equipment was €547 million corresponding to 6% of sales (Q1/19: €441 million; 5% of sales). The investments in Q1/20 served primarily for the modernization and expansion of dialysis clinics, production facilities as well as hospitals, and day clinics. Subject to duration and magnitude of the COVID-19 pandemic, Fresenius may face delays of investment projects planned for 2020.
Total acquisition spending was €412 million (Q1/19: €1,923 million), mainly for the acquisition of two hospitals in Colombia by Fresenius Helios.
Cash flow development
Group operating cash flow increased to €878 million (Q1/19: €289 million) with a margin of 9.6% (Q1/19: 3.4%). Growth was driven by a favorable working capital development at both Fresenius Medical Care and Fresenius Kabi. Free cash flow before acquisitions and dividends was €305 million (Q1/19: -€168 million). Free cash flow after acquisitions and dividends was -€40 million (Q1/19: -€2,111 million, driven by the acquisition of NxStage by Fresenius Medical Care).
1 Net income attributable to shareholders of Fresenius SE & Co. KGaA
For a detailed overview of special items please see the reconciliation tables on pages 17-18 of the PDF document.
Solid balance sheet structure
Group total assets increased by 3% (3% in constant currency) to €68,972 million (Dec. 31, 2019: €67,006 million). Current assets increased by 7% (8% in constant currency) to €16,341 million (Dec. 31, 2019: €15,264 million). Non-current assets increased by 2% (1% in constant currency) to €52,631 million (Dec. 31, 2019: €51,742 million).
Total shareholders’ equity increased by 1% (1% in constant currency) to €26,956 million (Dec. 31, 2019: €26,580 million). The equity ratio was 39.1%.
Group debt increased by 5% (4% in constant currency) to €28,557 million (Dec. 31, 2019: € 27,258 million). Group net debt increased by 4% (3% in constant currency) to € 26,529 million (Dec. 31, 2019: € 25,604 million) driven by the closing of two hospital acquisitions in Colombia by Fresenius Helios and execution of the share buy-back program at Fresenius Medical Care as well as currency translation effects.
As of March 31, 2020, the net debt/EBITDA ratio increased to 3.68x1,2 (Dec. 31, 2019: 3.61x1,2) mainly due to the acquisitions made by Fresenius Helios, the share-buy back program at Fresenius Medical Care and negative COVID-19 effects on EBITDA.
1 At LTM average exchange rates for both net debt and EBITDA; pro forma closed acquisitions/divestitures
2 Before special items
For a detailed overview of special items please see the reconciliation tables on pages 17-18 of the PDF document.
Business Segments
Fresenius Medical Care (Financial data according to Fresenius Medical Care press release)
Fresenius Medical Care is the world's largest provider of products and services for individuals with renal diseases. As of March 31, 2020, Fresenius Medical Care was treating 348,703 patients in 4,002 dialysis clinics. Along with its core business, the company provides related medical services in the field of Care Coordination.
Fresenius Medical Care increased sales by 9% (7% in constant currency) to €4,488 million (Q1/19: €4,133 million). Organic sales growth was 4%. Positive currency translation effects of 2% were mainly related to the U.S. dollar strengthening against the euro.
Reported EBIT increased by 3% (1% in constant currency) to €555 million (Q1/19: €537 million) mainly driven by a favorable impact from higher treatment volume and lower costs for pharmaceuticals. The reported EBIT margin was 12.4% (Q1/19: 13.0%). The decrease in margin was largely due to the unfavorable COVID-19 pandemic effect and the prior year reduction of a contingent consideration liability related to Xenios. EBIT on an adjusted basis was flat (decreased by 3% in constant currency) at €555 million (Q1/19: €557 million). The EBIT margin on an adjusted basis was 12.4% (Q1/19: 13.5%).
Reported net income2 grew by 4% (2% in constant currency) to €283 million (Q1/19: 271 million) and decreased on an adjusted basis by 1% (-3% in constant currency) to €283 million (Q1/19: €286 million).
Operating cash flow was €584 million (Q1/19: €76 million) with a margin of 13.0% (Q1/19: 1.8%). The increase was largely driven by working capital improvement, including a positive effect from cash collections, timing of payments and change in year over year inventory levels.
Fresenius Medical Care’s FY guidance published on February 20, 2020 did not take into account COVID-19 effects. Since it is too early to reliably assess and quantify the positive and negative effects of the COVID-19 pandemic, the Company confirms its 2020 outlook of expected sales3 and net income2,4 growth both within a mid to high single digit percentage range in constant currency. These targets are based on the adjusted results 2019 including the effects of the operations of the NxStage acquisition and the IFRS 16 implementation.
For further information, please see Fresenius Medical Care’s press release at www.freseniusmedicalcare.com.
1 Q1/19 before special
2 Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA
3 FY/19 base: €17,477 million
4 FY/19 base: €1,236 million (FY/20: before special items)
For a detailed overview of special items please see the reconciliation tables on pages 17-18 of the PDF document.
Fresenius Kabi
Fresenius Kabi offers intravenously administered generic drugs, clinical nutrition and infusion therapies for seriously and chronically ill patients in the hospital and outpatient environments. The company is also a leading supplier of medical devices and transfusion technology products. In the biosimilars business, Fresenius Kabi develops products with a focus on oncology and autoimmune diseases.
Fresenius Kabi increased sales by 5% (6% in constant currency) to €1,789 million (Q1/19: €1,701 million). Organic sales growth was 6%. Negative currency translation effects of 1% were mainly related to weakness of the Argentinian peso and the Brazilian real.
Sales in North America increased by 7% (organic growth: 5%) to €669 million (Q1/19: €623 million). Sales in Europe grew by 10% (organic growth: 10%) to €631 million (Q1/19: €573 million). In both regions, sales were driven by a spike of demand for sedation drugs, pain killers and infusion pumps starting late in Q1/20.
Sales in Asia-Pacific decreased by 6% (organic growth: -6%) to €319 million (Q1/19: €341 million). As anticipated, softer demand for clinical nutrition products and IV drugs in China was driven by the COVID-19 related postponement of elective treatments.
Sales in Latin America/Africa increased by 4% (organic growth: 16%) to €170 million (Q1/19: €164 million).
EBIT before special items decreased by 5% (-5% in constant currency) to €289 million (Q1/191: €304 million) with an EBIT margin of 16.2% (Q1/191: 17.9%). The COVID-19 pandemic had a moderate net negative effect on EBIT.
Net income1,2 decreased by 2% (-3% in constant currency) to €197 million (Q1/19: €202 million).
Operating cash flow was €174 million (Q1/19: €145 million) with a margin of 9.7% (Q1/19: 8.5%), driven by an improved working capital position.
Since it is too early to reliably assess and quantify the positive and negative effects of the COVID-19 pandemic, Fresenius Kabi maintains its 2020 outlook of expected organic sales3 growth of 3% to 6% and an EBIT4 development of -4% to 0% in constant currency, excluding any effects from COVID-19.
1 Before special items
2 Net income attributable to shareholders of Fresenius SE & Co. KGaA
3 FY/19 base: €6,919 million
4 FY/19 base: €1,205 million, before special items, FY/20: before special items
For a detailed overview of special items please see the reconciliation tables on pages 17-18 of the PDF document.
Fresenius Helios
Fresenius Helios is Europe's leading private hospital operator. The company comprises Helios Germany and Helios Spain (Quirónsalud). Helios Germany operates 86 hospitals, ~125 outpatient centers and 7 prevention centers. Quirónsalud operates 46 hospitals, 72 outpatient centers and around 300 occupational risk prevention centers. In addition, the company is active in Latin America with 6 hospitals and as a provider of medical diagnostics.
Fresenius Helios increased sales by 7% (organic growth: 5%) to €2,466 million (Q1/19: €2,311 million).
Sales of Helios Germany increased by 8% (organic growth: 8%) to €1,603 million (Q1/19: €1,485 million). Organic sales growth was positively influenced by pricing effects and admissions growth in January and February. From March, COVID-19 had an insignificant net effect as foregone sales from elective admissions were largely offset by the law to ease the financial burden on hospitals.
Sales of Helios Spain increased by 4% (organic growth: 1%) to €863 million (Q1/19: €826 million) driven by the recent hospital acquisitions in Colombia. COVID-19 related foregone elective surgeries significantly weighed on organic sales growth from March.
EBIT of Fresenius Helios increased by 2% to €274 million (Q1/19: €268 million) with an EBIT margin of 11.1% (Q1/19: 11.6%).
EBIT of Helios Germany increased by 11% to €165 million (Q1/19: €149 million) with an EBIT margin of 10.3% (Q1/19: 10.0%). EBIT was positively influenced by pricing effects and admissions growth in January and February. From March, COVID-19 had an insignificant net effect as foregone EBIT from elective admissions was largely offset by the law to ease the financial burden on hospitals.
EBIT of Helios Spain decreased by 7% to €112 million (Q1/19: €121 million) with an EBIT margin of 13.0% (Q1/19: 14.6%). January and February showed positive admission growth. From March, COVID-19 had a very significant negative effect on EBIT as foregone elective treatments met higher costs amidst the comprehensive efforts to combat the pandemic.
Net income1 increased by 1% to €176 million (Q1/19: €174 million).
Operating cash flow increased to €145 million (Q1/19: €103 million) with a margin of 5.9% (Q1/19: 4.5%), driven by a good operating performance in both regions.
Since it is too early to reliably assess and quantify the positive and negative effects of the COVID-19 pandemic, Fresenius Helios maintains its 2020 outlook of expected organic sales2 growth of 3% to 6% and EBIT3 growth of 3% to 7% in constant currency, excluding any effects from COVID-19.
1 Net income attributable to shareholders of Fresenius SE & Co. KGaA
2 FY/19 base: €9,234 million
3 FY/19 base: €1,025 million
Fresenius Vamed
Fresenius Vamed manages projects and provides services for hospitals and other health care facilities worldwide and is a leading post-acute care provider in Central Europe. The portfolio ranges along the entire value chain: from project development, planning, and turnkey construction, via maintenance and technical management to total operational management.
Fresenius Vamed increased sales by 13% to €499 million (Q1/19: €440 million). Organic sales growth was 10%. Acquisitions contributed 3% to growth. Both service and project business showed strong growth momentum. COVID-19 had only a slight negative effect on sales.
Sales in the service business grew by 8% to €357 million (Q1/19: €332 million). Sales of the project business increased by 31% to €142 million (Q1/19: €108 million).
EBIT increased by 17% to €14 million (Q1/19: €12 million) with an EBIT margin of 2.8% (Q1/19: 2.7%). COVID-19 had a very significant negative effect on EBIT growth. Capacities in the post-acute care clinics were left idle given a generally lower intake of elective surgery patients from acute-care hospitals as well as authority-instigated restrictions or even closures of individual facilities.
Net income1 increased by 17% to €7 million (Q1/19: €6 million).
Order intake was €124 million (Q1/19: €383 million). Order intake in the prior year was exceptionally strong. As of March 31, 2020, order backlog was at €2,846 million (December 31, 2019: €2,865 million) and already marked by COVID-19 related project delays.
Operating cash flow decreased to -€20 million (Q1/19: -€15 million) with a margin of
-4.0% (Q1/19: -3.4%), given continuing phasing effects, some delays in the international project business as well as working capital build-ups.
Since it is too early to reliably assess and quantify the positive and negative effects of the COVID-19 pandemic, Fresenius Vamed maintains its 2020 outlook of expected organic sales2 growth of 4% to 7% and EBIT3 growth of 5% to 9% in constant currency, excluding any effects from COVID-19.
1 Net income attributable to shareholders of VAMED AG
2 FY/19 base: €2,206 million
3 FY/19 base: €134 million
Conference Call
As part of the publication of the results for Q1 2020, a conference call will be held on May 6, 2020 at 1:30 p.m. CEDT (7:30 a.m. EDT). All investors are cordially invited to follow the conference call in a live broadcast over the Internet at www.fresenius.com/investors. Following the call, a replay will be available on our website.
For additional information on the performance indicators used please refer to our website https://www.fresenius.com/alternative-performance-measures.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
