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. 

Contact

T +49 (0)175 962 77 51
friederike.segeberg@fresenius.com

Documents

• FY/25 Press Release (PDF, 310 KB)
• FY/25 Presentation Slides (PDF, 6.03 MB)
• FY/25 Speeches (PDF, 4.58 MB)

All | None

Download

FY/25 – Strong organic revenue and excellent Core EPS growth; REJUVENATE phase spurs profitable growth, drives stronger balance sheet, and creates significant value.

• Group revenue¹ at €22,554 million with organic growth of 7%^1,2 reflecting the consistent execution across Fresenius Kabi and Fresenius Helios.
• Group EBIT¹ at €2,595 million with 6%³ growth in constant currency driven in particular by Fresenius Kabi’s Growth Vectors and the strong performance of Fresenius Helios in Spain; Group EBIT margin¹ at 11.5% despite significant headwinds.
• Core EPS^1,4 increased by 12%³ in constant currency to €2.87 based on strong operating results and significantly decreased interest expense.
• Structural EBIT margin ambition increased for Fresenius Kabi to 17 to 19% (previously 16 to 18%)
• Constant currency Core EPS growth^1,4 established as new guidance metric is expected to be in the range of 5 to 10% in FY/26; organic revenue growth² projected to be in the range of 4 to 7% in FY/26.
• Net debt/EBITDA ratio improved by 30 bp to 2.7x^1,5, well within the self- imposed target corridor of 2.5 to 3.0x; driven by cash flow delivery leading to significant debt reduction.
• Dividend proposal of €1.05 per share; year-on-year increase of 5%, in line with the Company's dividend payout ratio of 30 to 40%.

Q4/25 – Closing the year with an outstanding quarter; excellent organic revenue and EBIT growth; excellent operating cashflow.

• Group revenue¹ at €5,875 million with organic growth of 9%^1,2 driven by contributions from both, Fresenius Kabi and Fresenius Helios.
• Group EBIT¹ at €713 million with constant currency growth of 13%³ on the back of the continued powerful operating performance at Fresenius Kabi and the expected strong acceleration at Fresenius Helios; Group EBIT margin¹ improved by 40 bp to 12.1%.
• Core EPS^1,4 growth in constant currency of 16%³ further accelerated to €0.78, driven by consistent operating strength and lower interest expenses.
• Operating cashflow of €1,340 million, a year-on-year increase of 36% driven by disciplined capex spending and focus on net working capital at Fresenius Kabi, and Fresenius Helios successfully driving receivables collection.

Michael Sen, CEO of Fresenius: "2025 was a pivotal year for Fresenius. With disciplined execution of our #FutureFresenius strategy and a strong performance from Team Fresenius, we met our upgraded full-year guidance by delivering another quarter of competitive growth, increasing organic revenue by 9%, EBIT by 13% and Core EPS by 16% at constant currency. 2025 capped a year of continued momentum across the Company: We further strengthened the balance sheet, and upgraded our guidance, while preparing the business through targeted investment for the next phase of growth. All of this leads to a proposed dividend of €1.05 per share, underscoring our commitment to creating shareholder value. With #FutureFresenius we have transformed our Company, positioning ourselves to deliver future success in a new world order. Looking ahead, we enter 2026 with strong foundations and clear priorities. We are confident in our ability to deliver profitable, sustainable growth with the guidance of organic revenue growth of 4% to 7% and constant currency Core EPS growth of 5% to 10%, while continuing to create long term value across the healthcare ecosystem for patients, customers, partners, and shareholders."

Guidance for Fiscal Year 2026¹

Fresenius Group⁶: organic revenue growth² in the range of 4% to 7%; constant currency Core EPS^1,4 growth expected in the range of 5% to 10%; EBIT margin9 of ~11.5%. 
Fresenius Kabi⁷: organic revenue growth³ in the mid- to high-single-digit percentage range; EBIT margin¹ of 16.5% to 17.0%. 
Structural EBIT margin¹ ambition raised to 17% to 19% (previously 16% to 18%) following Kabi’s rigorous strategy execution leading to consistent margin expansion over the past several years. 
Fresenius Helios⁸: 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. Potential implications of the United States Supreme Court ruling as of February 20, 2026, are currently being evaluated but cannot be fully assessed at this stage and are hence not reflected in the FY/26 guidance.

Dividend proposal of €1.05 per share reflects capital allocation priorities

Fresenius remains fully commitment to delivering attractive shareholder returns. For fiscal year 2025, the Company will propose a dividend of €1.05 per share. This corresponds to a payout ratio of 37%, at the upper half of the 30% to 40% range of core net income^1,4 , as specified in the Fresenius Financial Framework.

Fresenius Group – Business development FY and Q4/2025

FY/25: Strong performance despite significant macroeconomic headwinds; twice upgraded guidance delivered.

Organic revenue¹ grew 7%² reaching the top-end of the 5% to 7% guide while the 6%³ constant currency Group EBIT growth before special items secured the midpoint of the guided range of 4% to 8%. The Company achieved this despite significant headwinds including the impact from the absence of energy relief funding at Fresenius Helios, the Volume Based Procurement (VBP) of the nutrition product Ketosteril in China at Fresenius Kabi, as well as FX effects and U.S. tariffs.

Q4/25: Closing the year with an outstanding quarter which led to an increase of Group organic revenue¹ growth of 9%² and revenues reaching €5,875 million. 

Group EBIT before special items amounted to €713 million, a significant acceleration with an increase of 13%³ in constant currency fuelled by Fresenius Kabi’s continued powerful operating performance and the expected strong development at Fresenius Helios. The strong acceleration at Helios is due to the very strong top-line development and was supported by strong execution on the Performance Program in Q4/25 as well as the positive effects from the surcharge on invoices of publicly insured patients recognized under other operating income. At Kabi, the operating leverage and additional productivity gains more than compensated the impact from the VBP of the nutrition product Ketosteril in China, and some targeted investments.

Group EBIT margin¹ improved by 40 bp to 12.1%. 

Group Core net income^1,4 increased by 16%³ in constant currency to €440 million strongly outpacing revenue growth. The good operating performance of both, Fresenius Kabi and Fresenius Helios, further productivity gains as well as the decreased year-over-year interest expenses drove this performance. 

Group Core earnings per share^1,4 rose by 16%³ in constant currency to €0.78.

Operating Companies – Business development FY and Q4/25 

Fresenius Kabi

FY/25: Consistent financial performance delivered over the course of the year with excellent organic revenue growth of 7% at the top-end of the structural growth band and an EBIT margin expansion of 70 bps to 16.4%. 

Q4/25: Strong finish to the year with organic growth well above the structural growth band of 4% to 7%; Growth Vectors driving the performance headed by continued Biopharma strength; EBIT margin reflects targeted investments, and year-end effects.

Organic revenue growth of 10%² in Q4 driven by the Growth Vectors and led by Biopharma with strong product roll-outs; revenue rose to €2,214 million, making it the highest quarterly revenue amount in Fresenius Kabi’s history; growth as reported was significantly impacted by currency translation effects, primarily from the US Dollar and the Argentinian Peso.

• Growth Vectors with 16% organic revenue² growth; Biopharma 97%, MedTech 5%, and Nutrition 5%
  • Biopharma revenue: €265 million, mainly driven by the tocilizumab biosimilar Tyenne ramp up in Europe and the U.S.; uptake of Otulfi with first sales from the exclusive distribution agreement with CivicaScript in the U.S.
  • MedTech revenue: €425 million with broad-based growth across all regions and segments, Transfusion & Cell Therapy (TCT) and Infusion and Nutrition Systems (INS) both showed solid growth.
  • Nutrition revenue: €602 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: €922 million, organic revenue increased by 2%² driven by Europe, with good volumes and price mix; U.S. volume growth more than compensated for pricing pressures.
• EBIT¹ of Fresenius Kabi increased to €349 million or 7%³ at constant currency. The performance reflected the operating leverage and the benefit of productivity gains that more than offset the impact of the Ketosteril tender in China and the adverse impact from U.S. tariffs, particularly in MedTech. The performance in the quarter also reflected targeted investments. The EBIT margin1 was 15.8%.
• EBIT¹ of the Growth Vectors increased by 19%³ in constant currency and amounted to €199 million; EBIT margin¹ improved by 70 bps to 15.4%, making further progress toward Kabi’s structural margin band target.
• EBIT¹ of Pharma increased 2%³ in constant currency to €189 million driven by Europe and the U.S. as well as by ongoing cost efficiencies. EBIT margin¹ at 20.5%.

Fresenius Helios

FY/25: Fresenius Helios delivered organic revenue growth of 7% driven by solid activity growth and favourable pricing in Germany and Spain; EBIT margin1 of 9.8% consistent with the target for FY/25. 

Q4/25: Fresenius Helios with very strong organic revenue growth and outstanding year-on-year margin improvement.

8% organic revenue growth in Q4 mainly driven by year-over-year activity levels increase at both, Helios Germany and Helios Spain, and positive pricing; revenue increased by 8% in constant currency to €3,546 million. 

• Helios Germany’s organic revenue growth at 6%, reflecting good admission growth and positive pricing; revenues at €2,055 million.
• Helios Spain with organic revenue growth of 11% to €1,491 million driven by strong activity levels and end-of-year payor settlements.
• EBIT¹ of Fresenius Helios at €416 million with 22% growth at constant currency. The acceleration at Helios reflects the very strong top-line development and was fuelled by the significant ramp up of the Performance Program in Q4/25 and the positive effects from the surcharge on invoices of publicly insured patient in Germany recognized under other operating income. 
  EBIT margin¹ of Fresenius Helios improved by 130 bp to 11.7%.
• EBIT¹ of Helios Germany increased by 52% to €194 million reflecting the significant ramp up of the Performance Program in Q4/25 and the positive effects from the surcharge on invoices of publicly insured patient in Germany; 
  EBIT margin¹ improved by 280 bp to 9.4% compared to Q4/2024.
• EBIT¹ of Helios Spain increased by 6% in constant currency to €224 million; EBIT margin¹ at 15.0% reflects some year-end effects as well as the good topline development.
• Helios Performance Programme delivering substantial cost savings in Q4/25 adding up to the expected roughly €100 million contributions in FY/25.
   

^{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 exchangeable bond 
6 2025 base: €22,554 million (revenue), €2.87 (Core EPS1,4) 
7 2025 base: €8,612 million (revenue) and €1,413 million (EBIT) 
8 2025 base: €13,550 million (revenue) and €1,328 million (EBIT) 
9 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 Q4 and FY 2025 results, a conference call will be held on February 25, 2026 at 1:30 p.m. CET / 7:30 a.m. EST. 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 Q4/2025.
• Consolidated results for Q4 and FY 2025 as well as for Q4 and FY 2024 include special items. An overview of the results for Q4 and FY 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.
• Information on the performance indicators is available on our website at https://www.fresenius.com/alternative-performance-measures.

Contact

T +49 (0) 6172 608-6698
steffen.rinas@fresenius.com

Photos

• Michael Sen and Christian Pawlu (ZIP, 22.78 MB)

All | None

Download

Documents

Text as PDF document (PDF, 74 KB)

The Fresenius Supervisory Board has unanimously extended ahead of schedule the mandate of CEO Michael Sen (57) by five years. This will help to ensure continuity in the company’s leadership for the next phase in its #FutureFresenius strategy. His contract will now run until 2031.

Wolfgang Kirsch, Chair of the Supervisory Board of Fresenius, said: “Michael Sen has been instrumental in driving the company’s development with #FutureFresenius in the past three years. Today, Fresenius is more innovative and relevant – well positioned to leverage the significant opportunities in the healthcare industry. Michael Sen and his team have placed Fresenius on a growth path offering long-term profitability that benefits all stakeholders. We want to maintain this continuity. Both the Supervisory Board and I personally look forward to continuing our collaboration in the coming years.”

“I would like to thank the Supervisory Board for its trust and look forward to continuing to work with all Supervisory Board members, my management team, and our outstanding employees as well as our customers, partners, and shareholders. Over the past few years, we have made the company more innovative while remaining focused on delivering profitable growth. Today, Fresenius is more relevant than ever before. We want to continue this success story. In times of fundamental change shaped by rapid advances in new technologies such as AI and a transactional world order, we bear even greater responsibility as a leading global healthcare company. Now more than ever, our goal is to provide high-quality, reliable healthcare while making healthcare systems even more efficient and resilient,” adds Michael Sen, CEO of Fresenius.

Dr. Christian Pawlu succeeds Robert Möller
The Fresenius Supervisory Board has also unanimously appointed Dr. Christian Pawlu (48) to the Fresenius Management Board, effective July 1, 2026. He will oversee the businesses of Fresenius Helios, which includes the two private hospital chains, Quirónsalud in Spain and Helios Kliniken in Germany. He will succeed Robert Möller (59) on the Management Board, who will establish the company’s Office of the Management in Berlin and Brussels.

“On behalf of the Supervisory Board, I would like to sincerely thank Robert Möller for the excellent cooperation and successful leadership of Fresenius Helios in recent years. Through the formation of medical clusters and the focus on digitalization and excellent patient care, the two hospital chains are excellently positioned in Germany and Spain. I am therefore delighted that Robert Möller will continue to contribute his expertise to the company,” says Wolfgang Kirsch. He adds: “With Christian Pawlu, we have been able to acquire a physician and strategist with a broad international network for the Group’s Management Board. I am especially pleased that we could find an outstanding internal candidate who has already contributed significantly to the hospital business as Chief Operating Officer of Fresenius Helios. I wish Christian Pawlu a strong start in his new role.”

Michael Sen (57) has been CEO of Fresenius since October 1, 2022. He is also Chairman of the Supervisory Board of the listed dialysis provider Fresenius Medical Care. In April 2021, Michael Sen was appointed CEO of Fresenius Kabi. Before joining Fresenius, he was a member of the Management Board at Siemens AG, responsible for the healthcare and energy business. He took Siemens Healthineers public during this time. Prior to this, he was Chief Financial Officer at the energy group E.ON SE.

Dr. Christian Pawlu has been Chief Operating Officer (COO) of Helios in Germany since March 2025, and in September 2025 expanded his responsibilities as COO of Fresenius Helios including Helios in Germany and Quirónsalud in Spain. Prior to this, he served as Head of Corporate Development at Fresenius after joining Fresenius Kabi in Bad Homburg as Head of Corporate Development in April 2021. From 2022 to 2025, he was a member of the Supervisory Board of the Fresenius subsidiary mAbxience, based in Spain. In his early career, Christian Pawlu was a member of Sandoz Group AG’s Executive Board, CEO of a private high-tech start-up, and a partner at McKinsey & Company management consultancy.

Fresenius Kabi, an operating company of Fresenius, has entered a first-of-its-kind partnership with U.S. manufacturer Phlow Corp. to establish a fully domestic, end-to-end supply chain for Epinephrine Injection, USP — an FDA designated essential medicine frequently at risk of shortage in the United States. 

Under the collaboration, Phlow will produce the U.S.-based API, while Fresenius Kabi manufactures the finished doses for hospitals and clinics across the country. With this initiative, Fresenius advances its local-for-local manufacturing strategy and supports national efforts to strengthen pharmaceutical security. The partnership reinforces the ambitions of #FutureFresenius as it expands Fresenius’ role as a leading global provider of lifesaving therapies, advancing resilient manufacturing that improves patient care and health-system stability. 

Pending regulatory approvals, epinephrine produced through this collaboration could be available to U.S. hospitals in 2027.

Contact

T +49 (0) 6172 608-6698
steffen.rinas@fresenius.com

Documents

Text as PDF document (PDF, 92 KB)

SAP and Fresenius today announced that both companies intend to enter a strategic partnership to accelerate innovation for stronger digital healthcare delivery. Together, the companies plan to create the digital backbone for a sovereign, interoperable, and AI-supported healthcare system. The solutions will combine the expertise of Fresenius, one of the world’s largest healthcare companies, with future-oriented SAP technologies and meet high requirements for data sovereignty, security, and regulatory compliance. The plan is to provide an open, integrated, and data‑driven digital health ecosystem that enables hospitals and medical facilities worldwide to use AI securely and to handle health data responsibly. 

Digital sovereignty for healthcare  

SAP and Fresenius plan to jointly build an individual, scalable healthcare platform that enables connected, data-driven healthcare processes. Based on this, the companies will develop joint, future-oriented, and AI-supported healthcare solutions to sustainably increase quality, transparency, and efficiency across the entire care chain and set new standards for digital innovation in the healthcare sector. The foundation will be proven SAP technologies and products such as SAP Business Suite, SAP Business Data Cloud (SAP BDC), SAP Business Technology Platform (SAP BTP), and SAP Business AI. These core elements help create a unified, compliant, open, and expandable base for the more-secure exchange and use of data as well as for operating AI models in a controlled environment.  

Together, the companies also plan to build a sovereign, European solution for an integrated healthcare ecosystem that supports the integration of modern hospital information systems (HIS) based on SAP’s “AnyEMR” strategy. Interfaces based on open industry standards such as HL7 FHIR will enable the more-seamless connection of HIS, electronic medical records (EMRs), and other medical applications.

“Together with SAP, we can accelerate the digital transformation of the German and European healthcare systems and enable a sovereign European solution that is so important in today’s global landscape. We are making data and AI everyday companions that are secure, simple, and scalable for doctors and hospital teams. This creates more room for what truly matters: caring for patients,” says Michael Sen, CEO of Fresenius.

“With SAP’s leading technology and Fresenius’ deep healthcare expertise, we aim to create a sovereign, interoperable healthcare platform for Fresenius worldwide. Together, we want to set new standards for data sovereignty, security, and innovation in healthcare. Thanks to SAP, Fresenius can harness the full potential of digital and AI-supported processes and sustainably improve patient care,” says Christian Klein, CEO and Member of the Executive Board of SAP SE.

As part of the joint transformation project, both companies plan to invest a mid three-digit million euro amount in the medium term to consistently drive the digital transformation of the German and European healthcare system through the use of digital and AI-supported solutions.

The partnership is implemented through several forms of collaboration. These include joint investments in startups and scaleups, joint technological developments, and close cooperation within coordinated governance structures between the two companies.

Fresenius has entered into a strategic development agreement with TQ Therapeutics to support the scalable and efficient manufacturing of cell and gene therapies, strengthening its role in advancing next generation treatments. 

Under the agreement, operating company Fresenius Kabi receives an exclusive license to integrate TQ Therapeutics’ proprietary cell selection technology into its Cue® Cell Processing System. The combined solution aims to isolate high purity T cells in less than two hours, helping therapy developers streamline processes and accelerate development. 

The collaboration is in line with Fresenius’ #FutureFresenius strategy to focus on high value healthcare platforms, strengthen core technologies, and improve patient access through operational excellence and innovation. 

By enabling more automated, robust, and scalable cell therapy manufacturing, Fresenius Kabi and TQ Therapeutics aim to support the broader adoption of cell and gene therapies, including applications closer to the point of care.

The sale of the Austrian project business and spa operations of VAMED Vitality World to PORR, announced by Fresenius in October 2025, has received the necessary approvals and will be completed on December 31, 2025. 

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

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

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

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

Fresenius in Spain

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

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

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

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

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

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

Contact

T +49 (0) 160 944 01317
peter.stopfer@fresenius.com

Documents

Text as PDF document (PDF, 86 KB)

Effective immediately, Katrin Kerner (44) and Christian Wagner (39) will assume joint leadership of Group Communications at Fresenius. Both will assume the role on an interim basis and in addition to their current responsibilities as Head of CEO Relations and Head of Board Office. They will report directly to Fresenius CEO Michael Sen and succeed Anke Schmidt, who has led the communications function since June 2025 and has decided to leave the company at her own request.

“On behalf of the Management Board, I would like to express my sincere thanks to Anke Schmidt for her work and commitment. She has made an important contribution in a short period of time. We wish her all the best for her future endeavors”, says Michael Sen, CEO of Fresenius. “I am very pleased that Katrin Kerner and Christian Wagner will jointly assume this responsibility as a leadership team. Both have a deep understanding of the healthcare industry and are already actively shaping the strategic and cultural transformation of our company through #FutureFresenius. With their extensive experience in communications, finance, and corporate transformations at DAX-listed companies, they will further develop the communications function at Fresenius and continue to strengthen our brand.”

Katrin Kerner has been with Fresenius since 2023 and has served as Head of CEO Relations since 2024. In this role, she prepares CEO briefings, coordinates strategic company positions, and manages global partnerships. Before joining Fresenius, she held several leadership positions in communications functions at Siemens, Siemens Healthcare (today Siemens Healthineers), and Siemens Energy, including Head of Employee Communications at Siemens and Head of Executive Messages at Siemens Energy. During this time, she was actively involved in the IPO of Siemens Healthineers and the spin-off of Siemens Energy. Katrin Kerner studied Economics at the Friedrich-Alexander University Erlangen-Nürnberg and International Management at the Turku School of Economics in Finland.

Christian Wagner joined Fresenius in 2017, became Head of Corporate Finance in 2019, and has served as Head of Board Office since 2023. In this function, he plays a key role in steering and advancing Fresenius’s strategic direction. He is also responsible for Corporate Security. Before joining Fresenius, Christian Wagner worked in investment banking at Berenberg and at a subsidiary of Deutsche Bahn. He studied Finance at Goethe University Frankfurt and the Institut Supérieur du Commerce (ISC) in Paris, France.