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Fresenius, together with SAP, is investing in Avelios Medical, a company developing a next-generation, cloud-native hospital information system. This marks a further step forward in the strategic partnership between Fresenius and SAP announced in January this year. The objective of the collaboration is to build an open, interoperable, and AI-enabled digital healthcare ecosystem for Germany and Europe. To this end, Fresenius and its technology partner SAP are combining clinical expertise, technological capabilities, and innovative product development to create a new digital infrastructure for hospitals across Europe.
The strategic investment in Avelios Medical is a key building block of this ecosystem. Avelios Medical is developing a modular hospital information system that enables end-to-end digitalization of clinical and administrative processes and is based on open standards. The solution allows for sovereign data usage, high interoperability, and the responsible integration of AI applications. This creates a scalable platform that relieves care teams, harmonizes processes, and accelerates the adoption of innovation in clinical practice.
“We are bringing together what Germany and Europe need in healthcare: medical excellence, technological strength, and the sovereign use of digitalization and AI,” said Christian Pawlu, Chief Operating Officer of Fresenius Helios. “With our investment in Avelios Medical, we are taking another step in building a digital healthcare ecosystem—interoperable, reliable, and AI-ready.”
“We founded Avelios with the conviction that the future of healthcare lies in a data-driven, AI-native, and open health platform,” commented Christian Albrecht, Co-Founder and CEO of Avelios. “With SAP and Fresenius, we are bringing leading technological and clinical expertise to the table—and taking a decisive step toward an open ecosystem for the healthcare industry. This partnership validates our approach, our product, and our team.”
The close collaboration between Fresenius, SAP, and Avelios Medical supports the consistent, clinically driven development of the Avelios solution and accelerates its reliable scaling across the broader healthcare.
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, the availability of financing and unforeseen impacts of international conflicts. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius SE & Co. KGaA
Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11852
Chairman of the Supervisory Board: Wolfgang Kirsch
General Partner: Fresenius Management SE
Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11673
Management Board: Michael Sen (Chairman), Pierluigi Antonelli, Sara Hennicken, Robert Möller, Dr. Michael Moser
Chairman of the Supervisory Board: Wolfgang Kirsch
An overview of key financial figures is available on page 7 of the pdf file.
Q1/26 builds further on strong momentum: Continued operating strength of core businesses with solid topline development and excellent Core EPS growth; FY/26 guidance reconfirmed
2026 guidance reconfirmed
Operating cashflow of €389 million, a fourfold rise year-on-year supported by positive phasing effects at Fresenius Helios as well as the strong underlying performance and successful Working Capital management at Fresenius Kabi.
Net debt/EBITDA ratio improved further to 2.6x1,4 at the lower end of the self-imposed target corridor of 2.5 to 3.0x driven by strong cash flow.
Michael Sen, CEO of Fresenius: "Fresenius made an excellent start to 2026, delivering performance fully in line with our expectations and leading us to reconfirm our full‑year guidance. In an environment where volatility has become the norm and markets are increasingly focused on earnings visibility and balance sheet discipline, this quarter shows that Fresenius is better prepared than ever. Rejuvenate is working in practice: disciplined execution across our businesses is driving double-digit Core EPS growth, continued margin improvement and a balance sheet that reinforces our financial flexibility. Importantly, we achieved this while continuing targeted investment in innovation and digitalisation – from new product launches to AI-enabled hospital platforms – reinforcing our long-term competitive position. With a more focused organisation and a disciplined financial framework, we are well-positioned to navigate policy and macroeconomic uncertainty while maintaining earnings visibility and delivering sustainable long-term value to patients, partners, and shareholders."
Fresenius Group5: organic revenue growth2 in the range of 4% to 7%; constant currency Core EPS3 growth expected in the range of 5% to 10%; EBIT margin8 of ~11.5%.
Fresenius Kabi6: organic revenue growth2 in the mid- to high-single-digit percentage range; EBIT margin of 16.5% to 17.0%.
Fresenius Helios7: organic revenue growth in the mid-single-digit percentage range; EBIT margin of 10.0% to 10.5%.
Assumptions to guidance: The company acknowledges that the prevailing trends of fast-moving macroeconomic and geopolitical environment continue, resulting in increased volatility and a higher level of operational uncertainty. The guidance does not take into account potential extreme scenarios that could affect the company, its peers, and the healthcare sector as a whole.
group revenue1 grew organicallyby 5%1,2; revenue reaching €5,744 million.
Group EBIT before special items amounted to €678 million, an increase of 6% in constant currency. At Fresenius Kabi, the Growth Vectors showed strong performance, in particular Biopharma and MedTech, more than compensating the impact from the VBP of the nutrition product Ketosteril in China as well as intentionally higher expenses for R&D. EBIT at Helios was supported by operating leverage as well as the positive effects from the surcharge on invoices of publicly insured patients in Germany recognized under other operating income.
Group EBIT margin1 improved by 20 bp yoy to 11.8%.
Group Core net income1,3 increased by 13% in constant currency to €460 million strongly outpacing revenue growth. The good operating performance of the core businesses, further productivity gains, decreased year-over-year interest expenses and lower tax rate drove this performance.
Group Core earnings per share1,3 rose by 13% in constant currency to €0.82.
Fresenius Kabi
Q1/26: Ongoing strong execution: Solid organic growth well within the structural growth band of 4% to 7%; Growth Vectors driving the performance headed by continued Biopharma strength. Growth Vectors showing further EBIT margin expansion.
Organic revenue growth2 of 6% driven by the Growth Vectors and led by Biopharma with ongoing product roll-outs; revenue rose to €2,150 million.
Growth Vectors with 8% organic revenue growth2; Biopharma 34%, MedTech 3%, and Nutrition 4%.
Biopharma revenue: €238 million, with tocilizumab biosimilar Tyenne as the key growth driver with strong uptake in the U.S. and in Europe; ramp-up of denosumab biosimilars in the U.S.
MedTech revenue: €392 million supported by growth in almost all regions despite high prior-year base, Transfusion & Cell Therapy (TCT) contributed in particular to the solid growth.
Nutrition revenue: €610 million driven by strong underlying growth in Europe and Latin America more than offset the impact from the VBP tender on nutrition product Ketosteril in China.
Pharma revenue: €911 million, organic revenue grew by 3%2 driven by positive development in Europe as well as good volume growth and lower pricing pressure in the U.S.
EBIT1 of Fresenius Kabi increased to €358 million or 4% at constant currency. Growth was driven by the good organic growth coupled with operating leverage and cost efficiency that more than offset the impact of Ketosteril tender in China. The performance in the quarter also reflected the targeted ramp-up of R&D spending, mainly at Biopharma, and some negative impact from U.S. tariffs. The EBIT margin1 was 16.7%
EBIT1 of the Growth Vectors rose by 14% in constant currency to €195 million mainly driven by the strong development at Biopharma and MedTech; EBIT margin1 improved by 40 bps to 15.7%, making further progress toward Fresenius Kabi’s structural margin band.
EBIT1 of Pharma decreased 3% in constant currency to €194 million against a high prior-year-base. EBIT margin1 at 21.3%.
Fresenius Helios
Q1/26: Fresenius Helios with solid organic revenue growth despite tough prior-year comparison and strong EBIT growth; Helios Germany with further year-on-year margin improvement.
4% organic revenue growth1 against a high prior-year base. Growth was mainly driven by favourable pricing and solid activity levels increase at both Germany and Spain; revenue1 increased by 3% in constant currency to €3,501 million.
Helios Germany’s organic revenue1 growth at 3%, reflecting a tough prior-year comparison alongside strong in-patient admission growth which was partially offset by case mix; revenue at €2,092 million.
Helios Spain with organic revenue growth of 4% to €1,409 million driven by stable underlying business dynamics, with solid activity growth, positive pricing, and continued growth in the ORP business.
EBIT1 of Fresenius Helios at €368 million with 10% growth at constant currency. The acceleration comes on the back of operating leverage and execution on additional structural cost saving initiatives as well as the positive effects from the surcharge on invoices of publicly insured patients in Germany recognized under other operating income. EBIT margin1 improved by 70 bps to 10.5%, reaching the top end of the 10% to 10.5% guide.
EBIT1 of Helios Germany increased by 10% to €173 million driven by the topline development and efficiency gains as well as the positive effects from the surcharge on invoices of publicly insured patient in Germany; EBIT margin1 improved by 60 bps to 8.3%.
EBIT1 of Helios Spain rose by 10% in constant currency to €195 million; EBIT margin1 at 13.8% reflects the solid revenue development and operating excellence as well as an one-timer.
Act to Stabilize Contribution Rates in the Statutory Health Insurance (GKV Stabilization Act): On April 29, 2026, the Federal Cabinet has approved a draft bill for the GKV Stabilization Act, which is in decisive parts more positive than the April 16, 2026 proposal. Importantly, the bill continues to foresee reimbursement increases linked to the base wage rate. While sector pressure persists, Helios Germany is well positioned through scale, quality leadership, disciplined structural and cost optimization, and ongoing clustering plus digital/AI rollout. Apart from the draft bill for the Act to Stabilize Contribution Rates in the Statutory Health Insurance System, structural reforms, digitalisation, and deregulation remain key levers to unlock sustainable efficiency across the German healthcare system. The legislative process is expected to be completed before the parliamentary summer break, with the law entering into force in January 2027.
1 Before special items
2 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
3 Excluding Fresenius Medical Care and Vitrea
4 At average exchange rates for both net debt and EBITDA; pro forma closed
acquisitions/divestitures, including lease liabilities, including dividends from Fresenius Medical Care and Vitrea, net debt adjusted for the valuation effect of the exchangeable bond
5 2025 base: €22,554 million (revenue), €2.87 (Core EPS1,3)
6 2025 base: €8,612 million (revenue) and €1,413 million (EBIT)
7 2025 base: €13,550 million (revenue) and €1,328 million (EBIT)
8 This metric (EBIT margin) is provided solely for modelling purposes and does not form part of the official guidance; 2025 Base: €2,595 million
Conference call and Audio webcast
As part of the publication of the Q1/26 results, a conference call will be held on May 6, 2026 at 1:30 p.m. CEST / 7:30 a.m. EST. You are cordially invited to follow the conference call in a live audio webcast at https://www.fresenius.com/investors. Following the call, a replay will be available on our website.
Note on the presentation of financial figures
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, the availability of financing and unforeseen impacts of international conflicts. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius SE & Co. KGaA
Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11852
Chairman of the Supervisory Board: Wolfgang Kirsch
General Partner: Fresenius Management SE
Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11673
Management Board: Michael Sen (Chairman), Pierluigi Antonelli, Sara Hennicken, Robert Möller, Dr. Michael Moser
Chairman of the Supervisory Board: Wolfgang Kirsch
Q1/26 builds further on strong momentum: Continued operating strength of core businesses with solid topline development and excellent Core EPS growth; FY/26 guidance reconfirmed
2026 guidance reconfirmed
Operating cashflow of €389 million, a fourfold rise year-on-year supported by positive phasing effects at Fresenius Helios as well as the strong underlying performance and successful Working Capital management at Fresenius Kabi.
Net debt/EBITDA ratio improved further to 2.6x1,4 at the lower end of the self-imposed target corridor of 2.5 to 3.0x driven by strong cash flow.
Michael Sen, CEO of Fresenius: "Fresenius made an excellent start to 2026, delivering performance fully in line with our expectations and leading us to reconfirm our full‑year guidance. In an environment where volatility has become the norm and markets are increasingly focused on earnings visibility and balance sheet discipline, this quarter shows that Fresenius is better prepared than ever. Rejuvenate is working in practice: disciplined execution across our businesses is driving double-digit Core EPS growth, continued margin improvement and a balance sheet that reinforces our financial flexibility. Importantly, we achieved this while continuing targeted investment in innovation and digitalisation – from new product launches to AI-enabled hospital platforms – reinforcing our long-term competitive position. With a more focused organisation and a disciplined financial framework, we are well-positioned to navigate policy and macroeconomic uncertainty while maintaining earnings visibility and delivering sustainable long-term value to patients, partners, and shareholders."
Fresenius Group5: organic revenue growth2 in the range of 4% to 7%; constant currency Core EPS3 growth expected in the range of 5% to 10%; EBIT margin8 of ~11.5%.
Fresenius Kabi6: organic revenue growth2 in the mid- to high-single-digit percentage range; EBIT margin of 16.5% to 17.0%.
Fresenius Helios7: organic revenue growth in the mid-single-digit percentage range; EBIT margin of 10.0% to 10.5%.
Assumptions to guidance: The company acknowledges that the prevailing trends of fast-moving macroeconomic and geopolitical environment continue, resulting in increased volatility and a higher level of operational uncertainty. The guidance does not take into account potential extreme scenarios that could affect the company, its peers, and the healthcare sector as a whole.
group revenue1 grew organicallyby 5%1,2; revenue reaching €5,744 million.
Group EBIT before special items amounted to €678 million, an increase of 6% in constant currency. At Fresenius Kabi, the Growth Vectors showed strong performance, in particular Biopharma and MedTech, more than compensating the impact from the VBP of the nutrition product Ketosteril in China as well as intentionally higher expenses for R&D. EBIT at Helios was supported by operating leverage as well as the positive effects from the surcharge on invoices of publicly insured patients in Germany recognized under other operating income.
Group EBIT margin1 improved by 20 bp yoy to 11.8%.
Group Core net income1,3 increased by 13% in constant currency to €460 million strongly outpacing revenue growth. The good operating performance of the core businesses, further productivity gains, decreased year-over-year interest expenses and lower tax rate drove this performance.
Group Core earnings per share1,3 rose by 13% in constant currency to €0.82.
Fresenius Kabi
Q1/26: Ongoing strong execution: Solid organic growth well within the structural growth band of 4% to 7%; Growth Vectors driving the performance headed by continued Biopharma strength. Growth Vectors showing further EBIT margin expansion.
Organic revenue growth2 of 6% driven by the Growth Vectors and led by Biopharma with ongoing product roll-outs; revenue rose to €2,150 million.
Growth Vectors with 8% organic revenue growth2; Biopharma 34%, MedTech 3%, and Nutrition 4%.
Biopharma revenue: €238 million, with tocilizumab biosimilar Tyenne as the key growth driver with strong uptake in the U.S. and in Europe; ramp-up of denosumab biosimilars in the U.S.
MedTech revenue: €392 million supported by growth in almost all regions despite high prior-year base, Transfusion & Cell Therapy (TCT) contributed in particular to the solid growth.
Nutrition revenue: €610 million driven by strong underlying growth in Europe and Latin America more than offset the impact from the VBP tender on nutrition product Ketosteril in China.
Pharma revenue: €911 million, organic revenue grew by 3%2 driven by positive development in Europe as well as good volume growth and lower pricing pressure in the U.S.
EBIT1 of Fresenius Kabi increased to €358 million or 4% at constant currency. Growth was driven by the good organic growth coupled with operating leverage and cost efficiency that more than offset the impact of Ketosteril tender in China. The performance in the quarter also reflected the targeted ramp-up of R&D spending, mainly at Biopharma, and some negative impact from U.S. tariffs. The EBIT margin1 was 16.7%
EBIT1 of Pharma decreased 3% in constant currency to €194 million against a high prior-year-base. EBIT margin1 at 21.3%.
Fresenius Helios
Q1/26: Fresenius Helios with solid organic revenue growth despite tough prior-year comparison and strong EBIT growth; Helios Germany with further year-on-year margin improvement.
4% organic revenue growth1 against a high prior-year base. Growth was mainly driven by favourable pricing and solid activity levels increase at both Germany and Spain; revenue1 increased by 3% in constant currency to €3,501 million.
Helios Germany’s organic revenue1 growth at 3%, reflecting a tough prior-year comparison alongside strong in-patient admission growth which was partially offset by case mix; revenue at €2,092 million.
Helios Spain with organic revenue growth of 4% to €1,409 million driven by stable underlying business dynamics, with solid activity growth, positive pricing, and continued growth in the ORP business.
EBIT1 of Fresenius Helios at €368 million with 10% growth at constant currency. The acceleration comes on the back of operating leverage and execution on additional structural cost saving initiatives as well as the positive effects from the surcharge on invoices of publicly insured patients in Germany recognized under other operating income. EBIT margin1 improved by 70 bps to 10.5%, reaching the top end of the 10% to 10.5% guide.
EBIT1 of Helios Germany increased by 10% to €173 million driven by the topline development and efficiency gains as well as the positive effects from the surcharge on invoices of publicly insured patient in Germany; EBIT margin1 improved by 60 bps to 8.3%.
EBIT1 of Helios Spain rose by 10% in constant currency to €195 million; EBIT margin1 at 13.8% reflects the solid revenue development and operating excellence as well as an one-timer.
Act to Stabilize Contribution Rates in the Statutory Health Insurance (GKV Stabilization Act): On April 29, 2026, the Federal Cabinet has approved a draft bill for the GKV Stabilization Act, which is in decisive parts more positive than the April 16, 2026 proposal. Importantly, the bill continues to foresee reimbursement increases linked to the base wage rate. While sector pressure persists, Helios Germany is well positioned through scale, quality leadership, disciplined structural and cost optimization, and ongoing clustering plus digital/AI rollout. Apart from the draft bill for the Act to Stabilize Contribution Rates in the Statutory Health Insurance System, structural reforms, digitalisation, and deregulation remain key levers to unlock sustainable efficiency across the German healthcare system. The legislative process is expected to be completed before the parliamentary summer break, with the law entering into force in January 2027.
1 Before special items
2 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
3 Excluding Fresenius Medical Care and Vitrea
4 At average exchange rates for both net debt and EBITDA; pro forma closed
acquisitions/divestitures, including lease liabilities, including dividends from Fresenius Medical Care and Vitrea, net debt adjusted for the valuation effect of the exchangeable bond
5 2025 base: €22,554 million (revenue), €2.87 (Core EPS1,3)
6 2025 base: €8,612 million (revenue) and €1,413 million (EBIT)
7 2025 base: €13,550 million (revenue) and €1,328 million (EBIT)
8 This metric (EBIT margin) is provided solely for modelling purposes and does not form part of the official guidance; 2025 Base: €2,595 million
Conference call and Audio webcast
As part of the publication of the Q1/26 results, a conference call will be held on May 6, 2026 at 1:30 p.m. CEST / 7:30 a.m. EST. You are cordially invited to follow the conference call in a live audio webcast at https://www.fresenius.com/investors. Following the call, a replay will be available on our website.
Contact for shareholders
Investor Relations
Telephone: + 49 61 72 6 08-24 87
Telefax: + 49 61 72 6 08-24 88
E-mail: ir-fre@fresenius.com
Information on Fresenius share and ADRs
Note on the presentation of financial figures
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, the availability of financing and unforeseen impacts of international conflicts. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius announced today that the Company's Q1 2026 Aide Memoire is now available on the Company's Investor Relations website.
As a service to capital market participants, Fresenius provides a quarterly Aide Memoire ahead of the publication of the Company's quarterly results. This document includes a summary of relevant information that Fresenius has communicated previously or made publicly available to the capital market or otherwise. Fresenius' Q1 2026 financial results will be published on May 6, 2026.
Detailed information for credit investors.
Fresenius Investor Presentation
S&P Global Ratings (S&P), a globally recognized credit rating agency today revised its credit outlook for Fresenius SE from stable to positive. The rating was affirmed at BBB. As part of its evaluation, S&P acknowledged the significant progress highlighting Fresenius’ strong operating performance, particularly within its growth vectors, ongoing cost base improvements, as well as a further reduction in the Company’s leverage. S&P also highlighted the sharpened and simplified portfolio, underscoring the Company’s resilience in the current operating environment.
“The revised outlook is another proof point that #FutureFresenius is paying off. It confirms our focus on long-term profitable growth and balance sheet strength, while at the same time preparing the business for future growth. Based on the strength of our operating businesses and the strong cash flow generation, we have significantly deleveraged the Company over the past years and expect to stay well within our self-imposed target leverage range,” says Fresenius CFO Sara Hennicken.
Fresenius is rated investment grade by the three leading credit rating agencies S&P Global Ratings (BBB/positive), Moody’s (Baa3/stable) and Fitch (BBB-/stable). The company is committed to its investment grade rating and to its self-imposed target leverage range of 2.5 to 3.0x net debt/EBITDA1, which forms part of its capital allocation framework.
1 At average exchange rates for both net debt and EBITDA; pro forma closed acquisitions/divestitures; before special items; including lease liabilities and Fresenius Medical Care dividend, net debt adjusted for the valuation effect of the exchangeable bond
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, the availability of financing and unforeseen impacts of international conflicts. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius SE & Co. KGaA Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11852
Chairman of the Supervisory Board: Wolfgang Kirsch
General Partner: Fresenius Management SE
Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11673 Management Board: Michael Sen (Chairman), Pierluigi Antonelli, Sara Hennicken, Robert Möller, Dr. Michael Moser
Chairman of the Supervisory Board: Wolfgang Kirsch
S&P Global Ratings (S&P), a globally recognized credit rating agency today revised its credit outlook for Fresenius SE from stable to positive. The rating was affirmed at BBB. As part of its evaluation, S&P acknowledged the significant progress highlighting Fresenius’ strong operating performance, particularly within its growth vectors, ongoing cost base improvements, as well as a further reduction in the Company’s leverage. S&P also highlighted the sharpened and simplified portfolio, underscoring the Company’s resilience in the current operating environment.
“The revised outlook is another proof point that #FutureFresenius is paying off. It confirms our focus on long-term profitable growth and balance sheet strength, while at the same time preparing the business for future growth. Based on the strength of our operating businesses and the strong cash flow generation, we have significantly deleveraged the Company over the past years and expect to stay well within our self-imposed target leverage range,” says Fresenius CFO Sara Hennicken.
Fresenius is rated investment grade by the three leading credit rating agencies S&P Global Ratings (BBB/positive), Moody’s (Baa3/stable) and Fitch (BBB-/stable). The company is committed to its investment grade rating and to its self-imposed target leverage range of 2.5 to 3.0x net debt/EBITDA1, which forms part of its capital allocation framework.
1 At average exchange rates for both net debt and EBITDA; pro forma closed acquisitions/divestitures; before special items; including lease liabilities and Fresenius Medical Care dividend, net debt adjusted for the valuation effect of the exchangeable bond
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, the availability of financing and unforeseen impacts of international conflicts. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius SE & Co. KGaA Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11852
Chairman of the Supervisory Board: Wolfgang Kirsch
General Partner: Fresenius Management SE
Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11673 Management Board: Michael Sen (Chairman), Pierluigi Antonelli, Sara Hennicken, Robert Möller, Dr. Michael Moser
Chairman of the Supervisory Board: Wolfgang Kirsch
Company overview on one page.
Today, Fresenius published its 2025 Annual Report. As announced in late February 2026, 2025 marked another strong year of performance and the launch of the current phase of the #FutureFresenius strategy: Rejuvenate. Despite headwinds, the healthcare group achieved its outlook, which was raised twice during the year. Group revenue before special items rose to €22.6 billion, with organic growth of 7%, while constant currency Core EPS (excluding FMC) increased by 12%.
“Over the past three years, we have successfully implemented our #FutureFresenius strategy and created a new Fresenius that is innovative, relevant, resilient, and adaptable. At the same time, we have significantly bolstered our company’s economic strength. We aim to build on this strong foundation,” said Michael Sen, Chairman of the Management Board of Fresenius.
The 2025 Annual Report demonstrates how Fresenius is creating sustainable value for all stakeholders by executing its #FutureFresenius strategy. It includes the Sustainability Statement in accordance with the European Sustainability Reporting Standards (ESRS), and is available as a PDF and as an interactive online version in German and English. The online report features additional business stories and includes a video statement from CEO Michael Sen.
