The global healthcare company Fresenius is collaborating with other companies and academic institutions with the goals of accelerating the manufacturing of CAR-T cell therapy, making it more cost-effective, and improving patient access across Europe. Led by Fresenius, the newly launched EASYGEN (Easy workflow integration for gene therapy) consortium will focus on efforts to develop a modular, hospital-based platform capable of manufacturing personalized cell therapies in just a few days, rather than weeks. The project is a public-private partnership, with €8 million in funding provided by the EU through the Innovative Health Initiative (IHI). It leverages technology originally developed by the Cell and Gene Therapy team of Fresenius Kabi, part of Fresenius.

Read the full press release here.

• Physicians, researchers, and partner institutions across Europe aim to deliver innovative, personalized therapies more quickly

• Development project focused on a hospital-based modular platform, based on technology initially developed by Fresenius Kabi

• The EASYGEN project is a public-private partnership, with €8 million backed by EU funding through the Innovative Health Initiative

• Important step in #FutureFresenius program

The global healthcare company Fresenius is collaborating with other companies and academic institutions with the goals of accelerating the manufacturing of CAR-T cell therapy, making it more cost-effective, and improving patient access across Europe. Led by Fresenius, the newly launched EASYGEN (Easy workflow integration for gene therapy) consortium will focus on efforts to develop a modular, hospital-based platform capable of manufacturing personalized cell therapies in just a few days, rather than weeks. The project is a public-private partnership, with €8 million in funding provided by the EU through the Innovative Health Initiative (IHI). It leverages technology originally developed by the Cell and Gene Therapy team of Fresenius Kabi, part of Fresenius.

Dr. Christian Hauer, President MedTech at Fresenius Kabi, said: “This project contributes to expanding our MedTech platform, making it an important step on our path to #FutureFresenius. The aim is not only to develop cutting-edge medical technologies, but also to make them available quickly, safely, and close to the patient. In this way, we are actively working to shape the healthcare of tomorrow.”

“EASYGEN brings together physicians, researchers, and partner institutions from across Europe with the goal of collaboratively advancing innovative, personalized therapies such as CAR-T cells for cancer treatment. Automation can help reduce production complexity of these therapies, with the aim of making it easier to scale these life-saving treatments and improve patient access,” added Prof. Dr. med. Ralf Kuhlen, Chief Medical Officer at Fresenius.

CAR-T therapy is a breakthrough treatment that involves genetically modifying a patient’s T cells to target cancer. It requires complex, time-intensive production in specialized facilities often far from patients. Limited manufacturing capacity and supply chain delays can potentially prevent timely patient access. Despite clinical eligibility, access to CAR-T cell therapy remains limited for patients across Europe. This is particularly evident in diffuse large B-cell lymphoma (LBCL), a type of cancer that is one of the most common indications: Across five European countries, the average treatment rate is below 20%. While approximately 30% of eligible patients receive CAR-T therapy in France, the figure drops to just 11% in Italy.¹

Fresenius is actively involved in cell and gene therapy. Fresenius Kabi provides medical technology for these therapies, including automated cell processing systems such as Lovo and Cue. Fresenius Helios, for example, at its Helios Hospital Berlin-Buch, has been offering CAR-T cell therapy as a standard treatment for relapsed cases since 2019. The clinic is also conducting clinical trials to further explore the potential of CAR-T therapies. Quirónsalud, Fresenius’ Spanish hospital business, has established specialized oncology units that offer CAR-T cell therapy as part of their advanced cancer treatment portfolio, particularly for hematologic malignancies.

EASYGEN is led by Fresenius and academically co-led by Fraunhofer Institute, IZI, Leipzig – one of Europe’s foremost immunotherapy research centers in collaboration with Prof. Dr. Michael Hudecek, a leader in CAR-T cell engineering and Prof. Dr. Ulrike Köhl, a pioneer in translational cellular immunotherapies.

¹ IQVIA Institute for Human Data Science. (03/ 2025). Achieving CAR T-cell Therapy Health System Readiness: An Assessment of Barriers and Opportunities.
 

Consortium partners – 18 organizations across 8 countries

Industry & clinical leaders: Fresenius (Coordinator, Germany), Helios Hospital Berlin-Buch (Germany), Quirónsalud (Spain), Fenwal Inc. (USA), Cellix Ltd. (Ireland), Charles River (Germany), Pro-Liance Global Solutions (Germany), TQ Therapeutics (Germany), Philips Electronics Nederland B.V. (Netherlands).

Academic & research institutions: Fraunhofer IESE (Germany), Fraunhofer IZI (Germany), Helmholtz-Zentrum Dresden-Rossendorf (Germany), Technical University of Denmark (Denmark), Frankfurt School of Finance & Management (Germany), European Society for Blood & Marrow Transplantation (Netherlands), Bar-Ilan University (Israel), University of Glasgow (UK), University of Navarra (Spain).

* * *

Learn more about CAR-T cell therapy: Interview Prof. Bertram Glaß, Chief Physician for Hematology and Cell Therapy at Helios Hospital Berlin-Buch: www.fresenius.com/car-t-cell-therapy

* * *

About EASYGEN
EASYGEN is a five-year research project supported by the Innovative Health Initiative Joint Undertaking (IHI JU) under grant agreement No 101194710. The JU receives support from the European Union’s Horizon Europe research and innovation programme and COCIR, EFPIA, Europa Bío, MedTech Europe, Vaccines Europe and industry partners. Selected under the IHI call “User-centric technologies and optimized hospital workflows for a sustainable healthcare workforce”, the project aims to develop an integrated, automated platform that enables point-of-care CAR-T cell manufacturing—cutting production time, reducing costs, and expanding access to next-generation immunotherapies.

Disclaimer: Funded by the European Union, the private members, and those contributing partners of the IHI JU. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the aforementioned parties. Neither of the aforementioned parties can be held responsible for them.

^{Copyright: Johannes Krzeslack}

^{Image Description
In the front row, from left to right: Dr. Sonja Steppan (Easygen Principal Investigator, Fresenius SE), Prof. Dr. Michael Hudecek (Fraunhofer IZI), Theresa Kagerbauer (TQ Therapeutics), Dr. Agnes Vosen (HZDR), Christopher Wegener (Fresenius Kabi), Vaclovas Radvilas (EBMT), Dr. Julia Schüler (Charles River), Dr. Julia Busch-Casler (HZDR), Nicole Spanier-Baro (Fraunhofer IESE), Vivienne Williams (Cellix Limited), Prof. Dr. Bertram Glaß (Helios), Prof. Dr. Ulrike Köhl (Fraunhofer IZI), Rebecca Scheiwe (Fresenius SE). In the back row, from left to right: Prof. Dr. Ralf Kuhlen (Fresenius SE), Prof. Dr. Jens O. Brunner (DTU), Dominik Narres (Fresenius SE), Thomas Brzoska (Pro-Liance Global Solutions), Dr. David Krones (Fraunhofer IZI), Dr. Sabine Bertsch (Pro-Liance Global Solutions), Dr. Ralf Hoffmann (Philips), Christin Zündorf (TQ Therapeutics), Dr. Anna Dünkel (Fraunhofer IZI).}

 

^{An overview of key financial figures is available at the end of the release.}
Q2/2025: Ongoing strong revenue and EPS growth, guidance for organic revenue growth raised

• Group revenue¹ at €5,571 million with organic growth of 5%^1,2 driven by consistent delivery across the core businesses Fresenius Kabi and Fresenius Helios as well as ongoing execution of #FutureFresenius.

• Group EBIT¹ broadly stable³ in constant currency at €654 million impacted by the headwinds from ceased energy relief payments at Helios Germany and the loss of the volume-based procurement tender for the nutrition product Ketosteril in China at Fresenius Kabi; Group EBIT margin¹ at 11.7%.

• Net income^1,4 with strong 8%³ growth in constant currency to €412 million outpacing revenue growth.

• EPS^1,4 rose by strong 8%³ in constant currency to €0.73 demonstrating continued bottom-line delivery based on operating strength and significantly decreased interest expenses.

• Net debt/EBITDA ratio at 3.1x^1,5 driven by resumed dividend payment in Q2/25.

• Pro rata sale of Fresenius Medical Care shares to maintain current stake in response to the announced Fresenius Medical Care share buyback program.
   

^{1 Before special items 
2 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation 
3 Growth rate adjusted for Argentina hyperinflation 
4 Excluding Fresenius Medical Care 
5 At average exchange rates for both net debt and EBITDA; pro forma closed acquisitions/divestitures, including lease liabilities, including Fresenius Medical Care dividend, net debt adjusted for the valuation effect of the equity-neutral exchangeable bond}

Michael Sen, CEO of Fresenius: “Fresenius has demonstrated a resilient and consistent performance in the first half of 2025, with another quarter of strong momentum reflected by 8% Core EPS growth. Fresenius Kabi and Fresenius Helios continue to deliver strong results despite macroeconomic challenges, thanks to our focused strategy and disciplined execution. This performance enables us to raise our guidance, increasing our full-year expectations for revenue growth to between 5% and 7%. #FutureFresenius is paying off.

Our ambitions remain unchanged: Our current strategy phase Rejuvenate will focus on organic growth through disciplined capital allocation - upgrading our core, and scaling our platforms to enhance performance further. We are committed to delivering profitable growth through targeted investments in health and digital innovation, which together will create and enhance value for our stakeholders."


Guidance raised for Fiscal Year 2025¹

Based on the consistent growth at the top-end of the 2025 guidance in H1/25, organic revenue guidance was raised:

Fresenius Group²: organic revenue growth³ now expected in the range of 5 to 7% (previous: 4 to 6%); constant currency EBIT growth⁴ in the range of 3% to 7%

Fresenius Kabi⁵: organic revenue growth³ in the mid- to high-single-digit percentage range; EBIT margin of 16.0% to 16.5%

Fresenius Helios⁶: organic revenue growth in the mid-single-digit percentage range; EBIT margin around 10%

Assumptions to guidance: When Fresenius gave guidance in February, the company acknowledged the fast-moving macro-economic and geopolitical environment, resulting in a higher level of operational uncertainty. Fresenius’ guidance continues to reflect current factors and known uncertainties such as impacts from tariffs to the extend they can currently be assessed. The guidance does not take into account potential extreme scenarios that could affect the company, its peers, and the healthcare sector as a whole.
 

^{1 Before special items
2 2024 base: €21,526 million (revenue) and €2,489 million (EBIT)
3 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
4 Growth rate adjusted for Argentina hyperinflation
5 2024 base: €8,414 million (revenue) and €1,319 million (EBIT)
6 2024 base: €12,739 million (revenue) and €1,288 million (EBIT)}


Fresenius Group – Business development Q2/25

In Q2/2025, the good operating performance of Fresenius Kabi and Fresenius Helios led to a 5%¹ Group organic revenue² increase to €5,571 million.

As expected, Group EBIT before special items was broadly stable³ in constant currency, and amounted to €654 million. This is related to the headwinds from the absence of energy relief payments at Helios Germany and the Volume Based Procurement of the nutrition product Ketosteril in China at Fresenius Kabi. Despite the negative effects, Group EBIT margin was 11.7% (Q2/24: 12.2%). The Helios Performance Programme is advancing with increasing contributions expected in the second half of the year.

Earnings per share^2,4 rose by a strong 8%³ in constant currency to €0.73, driven by the operating strength and the significantly decreased interest expenses.

Following the announcement of Fresenius Medical Care AG (FME) in June 2025 to initiate a share buyback program, Fresenius intends to sell shares of FME on a pro rata basis to maintain its current stake of around 28.6% in FME. The final size and tranching of the sale of shares will be determined based on the structure of the share buyback program of FME. As previously announced, Fresenius remains a committed shareholder and will retain no less than 25 per cent plus one share of FME.

Fresenius will use the proceeds to invest in its core business in line with the #FutureFresenius strategy and Fresenius' stated capital allocation priorities, including further strengthening the balance sheet, reducing leverage, and delivering shareholder value and long-term growth.

^{1 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation 
2 Before special items 
3 Growth rate adjusted for Argentina hyperinflation 
4 Excluding Fresenius Medical Care}

Operating Companies – Business development Q2/25 

Fresenius Kabi delivered a strong performance; Growth Vectors with ongoing momentum, continued Biopharma strength; licensing agreement to commercialize a proposed vedolizumab biosimilar candidate

Organic revenue growth of 6%¹ mainly driven by the Growth Vectors and the good contribution from Pharma; reflecting the less pronounced positive Argentina pricing effects; revenue was broadly flat at €2,111 million due to currency effects; increased by 5%² in constant currency.

• Growth Vectors with good organic revenue¹  increase of 7%: MedTech 5%, Nutrition 1%, Biopharma 33%.

  • Nutrition revenue: €581 million, growth clearly influenced by the tender impact from the Volume Based Procurement (VBP) on Ketosteril in China (ex Ketosteril healthy organic growth in line with ambition range), good development in Latin America and Europe; in the U.S. ongoing successful roll-out of lipid emulsions.
  • Biopharma revenue: €190 million, positive development mainly driven by the Tyenne biosimilar ramp up in Europe and the U.S. as well as Idacio; denosumab biosimilars Conexxence® (denosumab-bnht) and Bomyntra® (denosumab-bnht) launched in the U.S. and approved in Europe; expansion of autoimmune biosimilars portfolio: licensing agreement with Polpharma Biologics to commercialize a proposed vedolizumab biosimilar candidate (excluding region MENA).
  • MedTech revenue: €392 million, increase driven by the expansion in Cell Therapy in the U.S., and solid growth in Europe.

• Pharma revenue: €947 million, strong organic revenue development¹ with 5% growth based on good volumes including I.V. fluids in the U.S., and Europe with favourable pricing.

^{1 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
2 Growth rate adjusted for Argentina hyperinflation}

• EBIT¹ of Fresenius Kabi with 5%² constant currency increase to €346 million, driven by the strong margin development of the Pharma, MedTech and Biopharma business and ongoing improvements in the cost base. The EBIT margin¹ was at the upper end of the guidance range at 16.4% despite transaction exchange rate effects and headwinds on the Nutrition business in China.

• EBIT¹ of the Growth Vectors increased 3%² in constant currency against the backdrop of the Ketosteril effect, and amounted to €166 million; EBIT margin¹ at 14.3%.

• EBIT¹ of Pharma increased 16%²  in constant currency to €206 million. EBIT margin¹ was strong at 21.7% due to ongoing cost savings and some one-timers.

Fresenius Helios with solid organic revenue growth; expected softness in profitability at Helios Germany partially offset by good development at Helios Spain; Helios Performance Programme is advancing.

Strong 5% organic revenue growth driven by Helios Germany (6% organic growth); Helios Spain at 3% organic growth (H1/25: 5%) linked to the Easter effect, which resulted into less activity at the beginning of Q2/25 and impacted growth predominantly at Helios Spain; revenue before special items increased by 5% in constant currency to €3,370 million.

• Helios Germany with revenue¹ of €2,001 million; growth mainly driven by price effects, as well as good activity levels and case mix.

• Helios Spain with revenue of €1,369 million, impacted by the Easter timing and currency translation effects related to the clinics in Latin America. The clinics in Latin America showed a good operational performance.

• EBIT¹ of Fresenius Helios as expected declined -5% in constant currency to €337 million impacted by the absence of energy relief funds in Germany. This expected softness was partially compensated by the excellent profitability at Helios Spain. EBIT margin¹ of Fresenius Helios was resilient at 10.0%.

^{1 Before special items 
2 Growth rate adjusted for Argentina hyperinflation.}
 

• EBIT¹ of Helios Germany decreased by -4% to €150 million against the high prior-year base which included energy relief funds; EBIT margin at 7.5% improved by 90 bps compared to Q4/24 (6.6%), the first quarter without energy relief funds.

• EBIT¹ of Helios Spain decreased by -5% in constant currency to €189 million related to a very strong prior-year base and the Easter effect; EBIT margin¹ at a strong 13.8%.

• Helios performance programme is advancing; ramp-up in H2/25 expected with more meaningful EBIT contributions, as some of the levers are process-related and will take time to deliver and realize benefits.

^{1 Before special items} 

* * *

Conference call and Audio webcast
As part of the publication of the Q2/2025 results, a conference call will be held on August 6, 2025 at 1:30 p.m. CEST / 7:30 a.m. EDT. All investors 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

• If no timeframe is specified, information refers to Q2/2025.

• Consolidated results for Q2/25 as well as for Q2/24 include special items. An overview of the results for Q2/2025 - before and after special items – is available on our website.

• Growth rates in constant currency of Fresenius Kabi are adjusted. Adjustments relate to the hyperinflation in Argentina. Accordingly, constant currency growth rates of the Fresenius Group are also adjusted.

• The results of Fresenius Helios and accordingly of the Fresenius Group for Q2/24 are adjusted by the sale of the fertility services group Eugin and the divestment of the majority stake in the hospital Clínica Ricardo Palma hospital in Lima, Peru.

• Information on the performance indicators is available on our website at https://www.fresenius.com/alternative-performance-measures.
  
   

Q2/2025: Ongoing strong revenue and EPS growth, guidance for organic revenue growth raised 

 

• Group revenue¹ at €5,571 million with organic growth of 5%^1,2 driven by consistent delivery across the core businesses Fresenius Kabi and Fresenius Helios as well as ongoing execution of #FutureFresenius. 
   
• Group EBIT¹ broadly stable³ in constant currency at €654 million impacted by the headwinds from ceased energy relief payments at Helios Germany and the loss of the volume-based procurement tender for the nutrition product Ketosteril in China at Fresenius Kabi; Group EBIT margin¹ at 11.7%. 
   
• Net income^1,4 with strong 8%³ growth in constant currency to €412 million outpacing revenue growth.
   
• EPS^1,4 rose by strong 8%³ in constant currency to €0.73 demonstrating continued bottom-line delivery based on operating strength and significantly decreased interest expenses. 
   
• Net debt/EBITDA ratio at 3.1x^1,5 driven by resumed dividend payment in Q2/25.
   
• Pro rata sale of Fresenius Medical Care shares to maintain current stake in response to the announced Fresenius Medical Care share buyback program.

 

¹Before special items
²Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
³Growth rate adjusted for Argentina hyperinflation
⁴Excluding Fresenius Medical Care
⁵At average exchange rates for both net debt and EBITDA; pro forma closed acquisitions/divestitures, including lease liabilities, including Fresenius Medical Care dividend, net debt adjusted for the valuation effect of the equity-neutral exchangeable bond
 

Michael Sen, CEO of Fresenius: “Fresenius has demonstrated a resilient and consistent performance in the first half of 2025, with another quarter of strong momentum reflected by 8% Core EPS growth. Fresenius Kabi and Fresenius Helios continue to deliver strong results despite macroeconomic challenges, thanks to our focused strategy and disciplined execution. This performance enables us to raise our guidance, increasing our full-year expectations for revenue growth to between 5% and 7%. #FutureFresenius is paying off.

Our ambitions remain unchanged: Our current strategy phase Rejuvenate will focus on organic growth through disciplined capital allocation - upgrading our core, and scaling our platforms to enhance performance further. We are committed to delivering profitable growth through targeted investments in health and digital innovation, which together will create and enhance value for our stakeholders."

 

Guidance raised for Fiscal Year 2025¹ 

Based on the consistent growth at the top-end of the 2025 guidance in H1/25, organic revenue guidance was raised:
Fresenius Group²: organic revenue growth³ now expected in the range of 5 to 7% (previous: 4 to 6%); constant currency EBIT growth⁴ in the range of 3% to 7%
Fresenius Kabi⁵: organic revenue growth³ in the mid- to high-single-digit percentage range; EBIT margin of 16.0% to 16.5% 
Fresenius Helios⁶: organic revenue growth in the mid-single-digit percentage range; EBIT margin around 10%
 

Assumptions to guidance: When Fresenius gave guidance in February, the company acknowledged the fast-moving macro-economic and geopolitical environment, resulting in a higher level of operational uncertainty. Fresenius’ guidance continues to reflect current factors and known uncertainties such as impacts from tariffs to the extend they can currently be assessed. The guidance does not take into account potential extreme scenarios that could affect the company, its peers, and the healthcare sector as a whole.
 

¹Before special items
²2024 base: €21,526 million (revenue) and €2,489 million (EBIT)
³Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
⁴Growth rate adjusted for Argentina hyperinflation
⁵2024 base: €8,414 million (revenue) and €1,319 million (EBIT)
⁶2024 base: €12,739 million (revenue) and €1,288 million (EBIT)
 

 

Fresenius Group – Business development Q2/25

In Q2/2025, the good operating performance of Fresenius Kabi and Fresenius Helios led to a 5%¹ Group organic revenue  increase to €5,571 million. 

As expected, Group EBIT before special items was broadly stable³ in constant currency, and amounted to €654 million. This is related to the headwinds from the absence of energy relief payments at Helios Germany and the Volume Based Procurement of the nutrition product Ketosteril in China at Fresenius Kabi. Despite the negative effects, Group EBIT margin was 11.7% (Q2/24: 12.2%). The Helios Performance Programme is advancing with increasing contributions expected in the second half of the year.

Earnings per share^2,4 rose by a strong 8%³ in constant currency to €0.73, driven by the operating strength and the significantly decreased interest expenses.

Following the announcement of Fresenius Medical Care AG (FME) in June 2025 to initiate a share buyback program, Fresenius intends to sell shares of FME on a pro rata basis to maintain its current stake of around 28.6% in FME. The final size and tranching of the sale of shares will be determined based on the structure of the share buyback program of FME. As previously announced, Fresenius remains a committed shareholder and will retain no less than 25 per cent plus one share of FME.

Fresenius will use the proceeds to invest in its core business in line with the #FutureFresenius strategy and Fresenius' stated capital allocation priorities, including further strengthening the balance sheet, reducing leverage, and delivering shareholder value and long-term growth.

 

¹Organic growth rate adjusted for accounting effects related to Argentina hyperinflation
²Before special items
³Growth rate adjusted for Argentina hyperinflation
⁴Excluding Fresenius Medical Care

 
 

Operating Companies – Business development Q2/25 

Fresenius Kabi delivered a strong performance; Growth Vectors with ongoing momentum, continued Biopharma strength; licensing agreement to commercialize a proposed vedolizumab biosimilar candidate

Organic revenue growth of 6%³ mainly driven by the Growth Vectors and the good contribution from Pharma; reflecting the less pronounced positive Argentina pricing effects; revenue was broadly flat at €2,111 million due to currency effects; increased by 5%² in constant currency.

• Growth Vectors with good organic revenue³ increase of 7%: MedTech 5%, Nutrition 1%, Biopharma 33%.
   
• Nutrition revenue: €581 million, growth clearly influenced by the tender impact from the Volume Based Procurement (VBP) on Ketosteril in China (ex Ketosteril healthy organic growth in line with ambition range), good development in Latin America and Europe; in the U.S. ongoing successful roll-out of lipid emulsions.
  • Biopharma revenue: €190 million, positive development mainly driven by the Tyenne biosimilar ramp up in Europe and the U.S. as well as Idacio; denosumab biosimilars Conexxence® (denosumab-bnht) and Bomyntra® (denosumab-bnht) launched in the U.S. and approved in Europe; expansion of autoimmune biosimilars portfolio: licensing agreement with Polpharma Biologics to commercialize a proposed vedolizumab biosimilar candidate (excluding region MENA).
  • MedTech revenue: €392 million, increase driven by the expansion in Cell Therapy in the U.S., and solid growth in Europe.
  • Pharma revenue: €947 million, strong organic revenue development³ with 5% growth based on good volumes including I.V. fluids in the U.S., and Europe with favourable pricing.
     
• EBIT¹ of Fresenius Kabi with 5%² constant currency increase to €346 million, driven by the strong margin development of the Pharma, MedTech and Biopharma business and ongoing improvements in the cost base. The EBIT margin¹ was at the upper end of the guidance range at 16.4% despite transaction exchange rate effects and headwinds on the Nutrition business in China.
• EBIT¹ of the Growth Vectors increased 3%² in constant currency against the backdrop of the Ketosteril effect, and amounted to €166 million; EBIT margin¹ at 14.3%.
• EBIT¹ of Pharma increased 16%² in constant currency to €206 million. EBIT margin¹ was strong at 21.7% due to ongoing cost savings and some one-timers.

 

Fresenius Helios with solid organic revenue growth; expected softness in profitability at Helios Germany partially offset by good development at Helios Spain; Helios Performance Programme is advancing.
 

Strong 5% organic revenue growth driven by Helios Germany (6% organic growth); Helios Spain at 3% organic growth (H1/25: 5%) linked to the Easter effect, which resulted into less activity at the beginning of Q2/25 and impacted growth predominantly at Helios Spain; revenue before special items increased by 5% in constant currency to €3,370 million.
 

• Helios Germany with revenue¹ of €2,001 million; growth mainly driven by price effects, as well as good activity levels and case mix.
• Helios Spain with revenue of €1,369 million, impacted by the Easter timing and currency translation effects related to the clinics in Latin America. The clinics in Latin America showed a good operational performance.
• EBIT¹ of Fresenius Helios as expected declined -5% in constant currency to €337 million impacted by the absence of energy relief funds in Germany. This expected softness was partially compensated by the excellent profitability at Helios Spain. EBIT margin¹ of Fresenius Helios was resilient at 10.0%.
• EBIT¹ of Helios Germany decreased by -4% to €150 million against the high prior-year base which included energy relief funds; EBIT margin at 7.5% improved by 90 bps compared to Q4/24 (6.6%), the first quarter without energy relief funds.
• EBIT¹ of Helios Spain decreased by -5% in constant currency to €189 million related to a very strong prior-year base and the Easter effect; EBIT margin¹ at a strong 13.8%.
• Helios performance programme is advancing; ramp-up in H2/25 expected with more meaningful EBIT contributions, as some of the levers are process-related and will take time to deliver and realize benefits.

 

¹Before special items
²Growth rate adjusted for Argentina hyperinflation.
³Organic growth rate adjusted for accounting effects related to Argentina hyperinflation

 

Conference call and Audio webcast 
As part of the publication of the Q2/2025 results, a conference call will be held on August 6, 2025 at 
1:30 p.m. CEST / 7:30 a.m. EDT. All investors 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 
 

• If no timeframe is specified, information refers to Q2/2025.
• Consolidated results for Q2/25 as well as for Q2/24 include special items. An overview of the results for Q2/2025 - before and after special items – is available on our website.
• Growth rates in constant currency of Fresenius Kabi are adjusted. Adjustments relate to the hyperinflation in Argentina. Accordingly, constant currency growth rates of the Fresenius Group are also adjusted.
• The results of Fresenius Helios and accordingly of the Fresenius Group for Q2/24 are adjusted by the sale of the fertility services group Eugin and the divestment of the majority stake in the hospital Clínica Ricardo Palma hospital in Lima, Peru.
• Information on the performance indicators is available on our website at https://www.fresenius.com/alternative-performance-measures.
   

 

 

 

Fresenius has published the Aide Memoire ahead of its Q2 2025 financial reporting. The Aide Memoire is a summary of relevant information that Fresenius has previously communicated previously to the capital market or otherwise made publicly available . The document may prove helpful in assessing Fresenius' financial performance ahead of the publication of quarterly results.

The Q2 2025 Aide Memoire is now available on the Fresenius Investor Relations website. The results of the second quarter and first half of 2025 of Fresenius SE & Co. KGaA will be published on 6 August 2025. The Quiet Period will start on 24 July 2025.
 

Fresenius announced today that its Operating Company Fresenius Kabi has introduced two new biosimilars in the U.S., Conexxence^®(1) (denosumab-bnht) and Bomyntra^®(2) (denosumab-bnht).

These denosumab biosimilars are approved by the FDA for all indications of the reference products, Prolia^®(3) (denosumab) and Xgeva^®(4) (denosumab), respectively. The biological medicines are used for the treatment of osteoporosis and other bone-related conditions.

This milestone represents Fresenius’ fifth and sixth biosimilars available in the U.S. It is a showcase of the company’s efforts to drive patient access to high-quality biological medicines. Earlier this year, Fresenius announced a global settlement with Amgen concerning its denosumab biosimilars. The company thereby continues the growth path of its BioPharma platform in line with #FutureFresenius.

Conexxence^®(1)  and Bomyntra^®(2)  are registered trademarks of Fresenius Kabi Deutschland GmbH in selected countries. Prolia^®(3) and Xgeva^®(4) are registered trademarks of Amgen Inc.

Read the full press release here.

Fresenius announced today that its Operating Company Fresenius Kabi has introduced two new biosimilars in the U.S., Conexxence^®(1) (denosumab-bnht) and Bomyntra^®(2) (denosumab-bnht).

These denosumab biosimilars are approved by the FDA for all indications of the reference products, Prolia^®(3) (denosumab) and Xgeva^®(4) (denosumab), respectively. The biological medicines are used for the treatment of osteoporosis and other bone-related conditions.

This milestone represents Fresenius’ fifth and sixth biosimilars available in the U.S. It is a showcase of the company’s efforts to drive patient access to high-quality biological medicines. Earlier this year, Fresenius announced a global settlement with Amgen concerning its denosumab biosimilars. The company thereby continues the growth path of its BioPharma platform in line with #FutureFresenius.

Conexxence^®(1)  and Bomyntra^®(2)  are registered trademarks of Fresenius Kabi Deutschland GmbH in selected countries. Prolia^®(3) and Xgeva^®(4) are registered trademarks of Amgen Inc.

Read the full press release here.

Fresenius‘ Sustainability Advisory Board met at Quirónsalud to experience how digital innovation and value-based healthcare are transforming medical care

Fresenius’ Sustainability Advisory Board (SAB) convened for its second meeting this year, with a focus on how our sustainability ambitions impact patients. Spanning June 2nd and 3rd, Michael Moser, member of the Fresenius management board and responsible for sustainability management, invited the SAB to Madrid, where our external sustainability experts were joined by representatives of the Fresenius Supervisory Board and experts from Group and Quirónsalud.  

“Delivering the highest quality in our products and services – always with a clear focus on patient needs and satisfaction — is a core pillar of our sustainability strategy. It’s inspiring to see how our colleagues at Quirónsalud are embracing digitalization to enhance diagnostics and treatments while elevating the patient experience. We’re not just improving care, we’re transforming it - for the benefit of our patients,“ emphasized Michael Moser.

Firsthand insights into leading healthcare institutions  

During their visit, the participants gained hands-on insights into how our commitment to high-quality, human-centered care is brought to life. They toured two Quirónsalud hospitals, both of which rank among Spain’s leading healthcare institutions: the Jiménez Díaz Foundation University Hospital, with over 90 years of history and a legacy as a pioneer in research and surgery, offering highly specialized, multidisciplinary care; and the University Hospital Rey Juan Carlos, known for its modern infrastructure and patient-focused design, which continues to attract a growing number of patients each year.  

A highlight of the visit was a tour of the operating rooms. There, participants observed how surgical workflows are managed with exceptional precision. Processes are optimized for timing, minimized wait times, improved patient safety, and full traceability through digital health tools. “This high level of efficiency not only ensures excellent clinical outcomes but also enables the hospital to increase the number of patients who trust us year after year, ultimately improving access to care for those who need it,” said Javier Arcos, General Manager of the Fundación Jiménez Díaz.  

Another standout moment was the live demonstration of Casiopea, an integrated digital platform, and Scribe, an AI-powered tool designed to automate doctor-patient interview transcriptions. The implementation of these solutions boosts operational efficiency and enhances the quality of care and patient experience.  

The meeting also focused on Quirónsalud’s strategic approach to quality management and its experience in implementing the Value-Based Healthcare (VBHC) model. This care model is characterized by a holistic treatment approach - enabled by cross-functional collaboration and a consistent focus on treatment outcomes, supported by measurable goals and metrics, and digital tools. Quirónsalud has been implementing this model since 2020.  

Fiona Adshead, member of the SAB and current Chair of the Sustainable Healthcare Coalition, welcomed the company’s efforts: “From my perspective, Quirónsalud is on the right path putting patients at the center of care by embracing the value-based care model. Their inspirational approach of using data and technology to transform care is delivering tangible benefits for patients, optimizing health system resource use, and supporting sustainable business success.”