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Group Outlook 2022

For FY/22, Fresenius projects sales growth1 in a low-to-mid single-digit percentage range in constant currency. Net income2,3 is expected to decline around ten percent in constant currency.

Assumptions for guidance FY/22

For 2022 and beyond, Fresenius expects that the current challenging market environment and the global macro-economic headwinds will remain. In particular, the general cost inflation, labor shortages, meaningful uncertainty with regard to the future development of energy prices, burdens from supply chain disruptions and ongoing impacts of the COVID-19 pandemic are expected to continue. The guidance does not consider a significant disruption of gas or electricity supplies in Europe.

Fresenius will continue to closely monitor the potential further consequences of the overall heightened volatility and muted visibility, including balance sheet valuations.

The war in Ukraine is directly and indirectly affecting Fresenius Group operations. The direct adverse effects of the war are treated as a special item.

COVID-19 will continue to impact Fresenius Group operations in 2022. An unlikely but possible significant deterioration of the situation triggering containment measures that could have a significant and direct impact on the health care sector without any appropriate compensation is not reflected in the Group’s FY/22 guidance.

For Fresenius Medical Care‘s contribution to the Group’s financial figures, the assumptions for Fresenius Medical Care's FY/22 guidance are also fully applicable to Fresenius Group's FY/22 guidance.

All of these assumptions are subject to considerable uncertainty.

The acquisitions of Ivenix and of the majority stake in mAbxience as well as any further potential acquisitions remain excluded from guidance.


1 FY/21 base: €37,520 million
2 Net income attributable to shareholders of Fresenius SE & Co. KGaA
3 FY/21 base: €1,867 million; before special items; FY/22: before special items


Fiscal year 20211 Results 2021 Outlook 20222

Fresenius Group 


Sales growth (in constant currency)

Mid single-digit percentage growth 5% Growth in a low-to-mid single-digit percentage range

Net income3 growth (in constant currency)

Around the top-end of low single-digit percentage growth 5% Decline around ten percent

Fresenius Medical Care4 


Sales growth (in constant currency)

Expecting to be at the lower end of the guidance range of low-to-mid single-digit percentage growth 2% Low single-digit percentage growth

Net income5 growth (in constant currency)

Expecting to be at the lower end of the guidance range of high-teens to mid-twenties percentage decline -23% Decline in the high teens to mid-twenties percentage range

Fresenius Kabi 


Sales growth (organic)

Low-to-mid single-digit percentage growth 4% Low single-digit percentage growth

EBIT growth (in constant currency)

Around the top end of the low single-digit percentage guidance range 7% Decline in high single- to low double-digit percentage range

Fresenius Helios 


Sales growth (organic)

Mid single-digit percentage growth 7% Low-to-mid single-digit percentage growth

EBIT growth (in constant currency)

High single-digit percentage growth 10% Mid single-digit percentage growth

Fresenius Vamed 


Sales growth (organic)

Mid-to-high single-digit percentage growth 11% Growth in a mid-single digit percentage range


High double-digit € million amount €101 million  Around €100 million

  • 1 Before special items; including expected COVID-19 effects (updated in November 2021)

    2 Before special items, including expected COVID-19 effects

    3 Net income attributable to shareholders of Fresenius SE & Co. KGaA

    4 These targets are based on the 2021 results excluding the costs related to FME25 of € 49 million (for Net Income). They are based on the outlined assumptions, in constant currency and exclude special items. Special items include further costs related to FME25 and other effects that are unusual in nature and have not been foreseeable or not foreseeable in size or impact at the time of giving guidance.

    5 Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA


    As of October 30, 2022