• Extraordinary General Meeting approves conversion of Fresenius Medical Care’s legal form
• Several advantages including faster and more agile decision-making
• Michael Sen elected as Chair of new Supervisory Board
• Conversion expected to be completed by the end of 2023

Fresenius Medical Care, the world’s leading provider of products and services for individuals with renal diseases, held an Extraordinary General Meeting (EGM) today. The Company’s shareholders approved all agenda items with large majority, including the conversion of Fresenius Medical Care from the legal form of a partnership limited by shares (Kommanditgesellschaft auf Aktien, KGaA) into a German stock corporation (Aktiengesellschaft, AG), and elected the four shareholder representatives on the Supervisory Board of the new Fresenius Medical Care AG. In its constituting meeting following the EGM, the new Supervisory Board elected Michael Sen as its Chair.

Michael Sen, Chair of the Supervisory Board of Fresenius Medical Care AG, said: “Our shareholders’ vote today clearly is a sign of confidence showing that we are on the right track with Fresenius and with Fresenius Medical Care. As the Chair of the Supervisory Board, I am delighted to lead this new Supervisory Board consisting of highly qualified individuals. Their diverse backgrounds and experiences will provide a great balance between continuity and fresh perspectives. I look forward to working with this great team. Furthermore, I would like to express my sincere appreciation to the long-standing Chair of the Supervisory Board, Dr Dieter Schenk, who has supported and guided the company for almost three decades. My gratitude also goes to Rolf Classon, Dr Dorothea Wenzel and Professor Dr Gregor Zünd whose mandates as Supervisory Board members will end once the conversion is completed.”

Helen Giza, CEO of Fresenius Medical Care AG, said: “Today’s decision of our shareholders to convert Fresenius Medical Care into a German stock corporation opens a new chapter in the development of the Company. I strongly believe that following the conversion, the decision-making processes will be accelerated. Therefore, we will be more agile in our efforts in unlocking value as the leading kidney care Company. The role of our free float shareholders will also be particularly strengthened. I’m excited about collaborating with our new Supervisory Board and leading Fresenius Medical Care into a successful future, together with my team and our committed employees around the world.”

Following the conversion into a German stock corporation, Fresenius Medical Care will have a standard German two-tier Board system that is familiar to shareholders and in line with widely recognized corporate governance practices. The co-determined Supervisory Board will in future consist of twelve members. At today’s EGM, Shervin J. Korangy, Dr Marcus Kuhnert, Gregory Sorensen, M.D. and Pascale Witz were elected members of the new Supervisory Board. In addition to them, Fresenius SE & Co. KGaA (Fresenius), which holds approx. 32.2 percent of the ordinary share capital, appoints two members to the new Supervisory Board: its CEO Michael Sen, who has been elected as Chair of the new Supervisory Board, as well as its CFO Sara Hennicken. This is a testament to Fresenius’ close relationship with Fresenius Medical Care and its continued commitment to the Company. The other six members of the new Supervisory Board will be elected by the employees at a later point in time. The new Supervisory Board will perform all supervisory functions, including strategy review, management appointments, remuneration, approval of important management decisions and audit once the conversion becomes effective.

Today, the new Supervisory Board of Fresenius Medical Care AG also formally appointed the Management Board of the future Fresenius Medical Care AG, which consists of the members of the existing Management Board of Fresenius Medical Care Management AG.

In addition to the simplification of the corporate governance, the conversion into a German stock corporation provides further advantages. The simplified structure will, for instance, lead to a more efficient and faster decision-making as it allows for a clearer focus on the interests of the Fresenius Medical Care group and frees up management resources. Fresenius Medical Care will also have greater flexibility concerning its financial strategy. Furthermore, the role of free float shareholders will be strengthened as their influence on the composition of Fresenius Medical Care’s management increases.

Given the approval of all agenda items at today’s EGM, all necessary administrative, compliance and regulatory steps will now be initiated. The entire process of the conversion of Fresenius Medical Care into a German stock corporation is expected to be completed by the end of 2023. Until completion, the current corporate governance structure and the corresponding corporate bodies, including the current Supervisory Boards, remain in place.

Under the U.S. Securities Act of 1933, as amended (the “Securities Act”), this press release may be deemed to be offering material of Fresenius Medical Care AG & Co. KGaA (“FME”). FME has filed a registration statement on Form F-4 under the Securities Act with the U.S. Securities and Exchange Commission (the “SEC”), including an information statement/prospectus constituting a part thereof. FME SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC, INCLUDING THE INFORMATION STATEMENT/PROSPECTUS THAT IS PART OF THE REGISTRATION STATEMENT, AS THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED CONVERSION DESCRIBED THEREIN. The final information statement/prospectus has been distributed to FME shareholders. Shareholders may obtain a free copy of the disclosure documents and other documents filed by FME with the SEC at the SEC’s website at www.sec.gov or from Fresenius Medical Care AG & Co. KGaA, Attention: Investor Relations, Else-Kröner-Straße 1, 61352 Bad Homburg v.d.H., Germany.

Fresenius Medical Care, the world's leading provider of products and services for individuals with renal diseases has appointed Martin Fischer (46) as Chief Financial Officer as of October 1, 2023. He will succeed Helen Giza who was appointed as Chief Executive Officer and Chair of the Management Board in December 2022 and continues to serve as acting Chief Financial Officer, until her successor will join. Martin Fischer will be based in Bad Homburg, Germany and will assume responsibility for the Global Finance Organization of Fresenius Medical Care. Upon effectiveness of the Company’s proposed change of form from KGaA to German stock corporation, Martin Fischer will become a member of the Management Board of Fresenius Medical Care AG.

Martin Fischer has been Head of Finance for Siemens Healthineers Diagnostics Division based in Tarrytown, NY, U.S. since 2019. Previously, he headed the Board Office and Organizations function for Siemens Healthineers after leading the business plan and operating model development for the company’s initial public offering in March 2018. Prior to that, Fischer held a number of key international operational and finance positions in healthcare within Siemens AG. Martin Fischer holds a degree in business informatics from the Reutlingen University of Applied Sciences and an MBA from Friedrich Alexander University in Nuremberg. He completed the Chief Financial Officer Program at Columbia Business School in New York, USA.

Michael Sen, Chairman of the Supervisory Board of Fresenius Medical Care Management AG, says: "With Martin Fischer's appointment, we are strengthening a vital function in the Management Board of Fresenius Medical Care. Martin Fischer has a deep understanding of the international healthcare market, both from the U.S. perspective and out of Germany. That's a decisive advantage in getting the company back on track." 

Helen Giza, CEO and Chair of the Management Board, said: "Martin Fischer has proven that he can successfully drive fundamental change in organizations. In our organizational transformation and turnaround management, we will benefit from his finance and healthcare expertise. Martin will be an important contributor to the execution of our strategy in unlocking value as the leading kidney care company."

Martin Fischer said: “There are great challenges ahead of us. I am convinced of the company's potential and look forward to realizing it together with the global team of Fresenius Medical Care. I am excited to bring my experience and expertise to support the company’s transformation.”

• Dr. Ernst Wastler will leave the Fresenius Management Board upon reaching retirement age on July 18, 2023
• Changes and rejuvenation in the Management team of the Fresenius Vamed business segment
• Strengthened control function through new appointments in the reduced VAMED Supervisory Board and the establishment of an Audit Committee
• Following successful deconsolidation, Fresenius Medical Care will also no longer be represented on the Fresenius Board in future
• The compostition of the Board reflects realignment through #FutureFresenius

The healthcare group Fresenius will have a revised Management team going forward. Dr. Ernst Wastler, previously responsible for Fresenius Vamed, will retire as Chairman of the VAMED Management Board and consequently from the Fresenius Management Board upon reaching retirement age on July 18, 2023. Dr. Klaus Schuster and Frank-Michael Frede will be appointed to the VAMED Management Board. Dr. Klaus Schuster will assume the new role of Spokesman of the VAMED Management Board but will not be represented on the Fresenius Management Board. Dr. Michael Moser, a new member of the Fresenius Management Board, will be responsible for Fresenius Vamed within the Fresenius Board.

Following the successful deconsolidation of Fresenius Medical Care, Helen Giza will also step down from the Fresenius Management Board. The #FutureFresenius strategy, with its realignment of business segments into operating and investment companies, is also reflected in the composition of the Fresenius Management Board.

"I would like to thank Dr. Wastler for his many years of highly dedicated work on the Fresenius Board," said Wolfgang Kirsch, Chairman of the Supervisory Board of Fresenius. "The leaner Fresenius Board in the future also takes into account the changes on the path to #FutureFresenius that Michael Sen and the Management Board team are successfully and consistently driving forward."

Dr. Klaus Schuster joined VAMED Management and Service GmbH as Chief Operating Officer (COO) in 2020. Schuster is a medical doctor and worked as a physician at Landesklinikum St. Pölten for ten years. He studied and obtained his doctorate at the Medical University of Vienna and holds an MBA in Health Care Administration from Danube University Krems.

Also appointed to the VAMED Board as of July 1, 2023, is Frank-Michael Frede, CEO of VAMED Deutschland Holding since 2022.
Gottfried Koos' (67) tenure on the VAMED Board will end on June 30, 2023. The four-member VAMED Board will continue to include the two current members, Andrea Raffaseder and Andreas Wortmann. Andreas Wortmann, Chief Financial Officer, will additionally take on the newly created role of Chief Transformation Officer.

Strengthened control function

The control function of the VAMED Supervisory Board will be strengthened. Firstly, it will be reduced from eight to six members. Commercial Councillor Karl Samstag, previously Deputy Chairman of the VAMED AG Supervisory Board and retired CEO of Austria Creditanstalt AG, as well as Dr. Robert Hink, former Secretary General of the Austrian Association of Municipalities, will resign from their positions with effect from the date of the next ordinary Supervisory Board meeting on July 12, 2023.

Dr. Dieter Schenk, Deputy Chairman of the Supervisory Board of Fresenius Management SE, will continue to lead the VAMED Supervisory Board. Sara Hennicken, CFO of Fresenius and a member of the VAMED Supervisory Board since December 2022, will remain a member of this Board and is due to be elected Deputy Chairman. Andreas Schmidradner, Advisor to the Management Board of B&C Industrieholding GmbH, will also continue to be a member of the Supervisory Board. Dr. Michael Moser, a future member of the Fresenius Management Board, was newly elected to the VAMED Supervisory Board with effect from July 12, 2023. Together with two employee representatives, Sara Hennicken, Dr. Dieter Schenk, Andreas Schmidradner and Dr. Michael Moser will form the six-member VAMED Supervisory Board going forward. Additionally, an Audit Committee consisting of Sara Hennicken as Chair, Michael Moser as Deputy Chair, and potentially one employee representative will be established.

Please also read VAMED's press release. You will find it in the download area on the right, please use the second download link. 

Fresenius has reached an important milestone in its IT transformation. The company successfully migrated its key SAP systems into the cloud with RISE with SAP, a comprehensive set of packages provided by SAP that helps companies transform into intelligent enterprises. This strategic move laid the foundation for future innovation targets and enables Fresenius to improve scalability, enhance application security and drive the digitalization of its global business processes. 

The migration encompassed a wide range of systems, including e.g. ERP (Enterprise Resource Planning) systems for core business processes in finance, manufacturing, supply chain and procurement as well as CRM (Customer Relationship Management) systems, among others.

“The SAP RISE migration is accelerating our #FutureFresenius journey. The ability to scale our IT landscape more flexibly enables us to gain efficiency and to adapt to changes faster”, said Michael Sen, CEO Fresenius. “Digitizing our organization and the healthcare industry requires scalable platforms and working in ecosystems with internal and external partners. Digitization will be a key enabler for our business to advance patient care.” 

“We are excited to partner with Fresenius on their digital transformation journey with RISE with SAP,” said Christian Klein, CEO and Member of the Executive Board of SAP SE. “Our solutions will empower Fresenius to streamline operations, enhance efficiency, and deliver even more exceptional value to its patients and customers.”

The migration project involved extensive collaboration between Fresenius and SAP where 29 system landscapes containing 134 systems have been migrated into the cloud smoothly and in record time of less than 15 months. The project's completion sets the stage for Fresenius to leverage the full potential of the latest SAP technologies, including SAP S/4HANA Cloud, to accelerate innovation and deliver exceptional value to the Fresenius Group.

The migration has resulted in improved security and resilience of all SAP systems. It allows the company to identify and resolve issues before they impact the business through delays or outages. The migrated systems show better performance in general. 

“We have a long and successful history of working with SAP for 30 years now. We're thrilled with the outcome of the cloud migration. It is proof that all the hard work and close collaboration on challenges has paid off. The dedication, expertise, and collaboration of everyone involved has been instrumental in achieving this significant milestone. As we move forward, we're confident that the cloud transformation will empower our organization to innovate and excel in today's competitive healthcare market”, said Ingo Elfering, Fresenius Group CIO. “Migrating our core SAP databases to the cloud with RISE with SAP will also provide a secure and stable platform for our future SAP S/4HANA journey”, he added.

SAP S/4HANA is an integrated enterprise resource planning (ERP) with a focus on intelligent automation and easy-to-use interfaces, it helps companies achieve digital transformation by providing comprehensive solutions for finance, logistics, customer service, supply chain and more.
 

Under the U.S. Securities Act of 1933, as amended (the “Securities Act”), this press release may be deemed to be offering material of Fresenius Medical Care AG & Co. KGaA (“FME”). FME has filed a registration statement on Form F-4 under the Securities Act with the U.S. Securities and Exchange Commission (the “SEC”), including an information statement/prospectus constituting a part thereof. FME SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC, INCLUDING THE INFORMATION STATEMENT/PROSPECTUS THAT IS PART OF THE REGISTRATION STATEMENT, AS THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED CONVERSION DESCRIBED THEREIN. The final information statement/prospectus will be distributed to FME shareholders. Shareholders may obtain a free copy of the disclosure documents (when they are available) and other documents filed by FME with the SEC at the SEC’s website at www.sec.gov or from Fresenius Medical Care AG & Co. KGaA, Attention: Investor Relations, Else-Kröner-Straße 1, 61352 Bad Homburg v.d.H., Germany.

Fresenius Medical Care, the world's leading provider of products and services for individuals with renal diseases, today announced the candidates who will be proposed for election to the Supervisory Board of the new Fresenius Medical Care AG in the Extraordinary General Meeting on July 14, 2023. As published in February 2023, the Extraordinary General Meeting will also decide on the Company's plans to change its legal form from the current KGaA (Kommanditgesellschaft auf Aktien) into a German stock corporation (Aktiengesellschaft) with a two-tier governance, including a Management Board and a co-determined Supervisory Board.

Fresenius Medical Care and its shareholders will benefit from the proposed new legal structure as it removes layers from the governance structure and allows for an even more focused, faster and agile decision making. The change of legal form will also free up executive and management capacity and avoid potential conflicts of interest. The new set-up will provide Fresenius Medical Care with unrestricted access to capital markets for financing purposes and will ensure independent decisions on financial and dividend policies. Furthermore, the proposed governance structure will particularly strengthen the rights of free float shareholders.  

Proposed for election to the Supervisory Board are:

• Shervin J. Korangy, President & CEO at BVI Medical. He previously was a senior executive at Novartis Group, AG and a Managing Director at The Blackstone Group, Inc. Korangy holds U.S. citizenship.
• Dr. Marcus Kuhnert, CFO at Merck KGaA until the end of June 2023. Prior to that, he was CFO of the Laundry & Homecare division at Henkel. Kuhnert holds German and U.S. citizenship.
• Gregory Sorensen, M.D., CEO at DeepHealth, Chairman of the Board of Directors at IMRIS and a member of the Supervisory Boards of Fresenius Medical Care AG & Co. KGaA and of Fresenius Medical Care Management AG since 2021. From 2011 to 2015, he was CEO of Siemens Healthcare North America. Sorensen holds U.S. citizenship.
• Pascale Witz, President at PWH Advisors and a member of the Supervisory Boards of Fresenius Medical Care AG & Co. KGaA and of Fresenius Medical Care Management AG since 2016. The French citizen previously held the positions of Executive Vice President at Sanofi, and President & CEO of GE Healthcare Pharmaceutical Diagnostics.

“All four candidates are highly qualified and independent,” said outgoing Supervisory Board Chairman Dr. Dieter Schenk. “The mix of two current and two new Supervisory Board members also gives us a good balance between continuity and fresh views. Our goal is to have a best-in-class, diverse Supervisory Board with a broad range of skills and backgrounds.”

Michael Sen, Chairman of the Supervisory Board of Fresenius Medical Care Management AG and CEO of Fresenius, said: “The four candidates proposed for election have broad experience in different areas of the healthcare sector and in all major markets, including the U.S. Their expertise and international background will be a valuable support for us in the transformation of Fresenius Medical Care and the successful development of the Company.”

In total, the co-determined Supervisory Board of the future Fresenius Medical Care AG will consist of twelve members. In addition to the four members to be elected by the Extraordinary General Meeting, Fresenius, which holds 32.2 percent of the ordinary share capital, will have the right to appoint two members to the Supervisory Board. Fresenius will appoint its CEO Michael Sen and its CFO Sara Hennicken to the Supervisory Board of Fresenius Medical Care AG. The other six members of the Supervisory Board will be elected by the employees.

The Company proposes a four-year election period for the Supervisory Board of the future Fresenius Medical Care AG. The board will decide independently on its chairmanship. It is intended that Michael Sen will stand for election as Chairman of the Supervisory Board.

The full agenda for the Extraordinary General Meeting on July 14, 2023 was published today. It can be found on our website: https://www.freseniusmedicalcare.com/en/agm

• Advancing patient care – Providing world-class health care products and therapies for the benefit of patients around the world
• Serving highly attractive markets – Unique platform of four leading and complementary businesses in large, growing markets positions Fresenius Kabi well to benefit from paradigm shifts in health care
• Executing Vision 2026 – Fresenius Kabi’s framework essentially contributes to the Group’s #FutureFresenius strategy with focus on clear value drivers across four businesses
• Raising Kabi outlook for 2023 – Expecting mid-single-digit organic sales growth¹ (previously: growth¹ in low-to mid-single-digit percentage range) and EBIT margin² of around 14% (previously: around 1%-point below structural margin² band of 14 to 17%)
• Improving mid-term ambition level – Targeting upper end of structural EBIT margin band of 14 to 17% by 2026

Today, Fresenius SE is hosting a Capital Markets Day in London focused on Fresenius Kabi, a global health care company that specializes in essential health care products for critically and chronically ill patients. The Capital Markets Day is featuring Fresenius CEO Michael Sen, Fresenius Kabi CEO Pierluigi Antonelli, and Members of the Fresenius Kabi Executive Leadership Team. 
 
During the day, Fresenius Kabi will provide insights into the execution of its framework Vision 2026, the company’s growth and sustainable value creation pathway, and the outlook for its individual businesses.

Fresenius Kabi has implemented substantial changes to strengthen the position of its three growth vectors – Biopharma, MedTech, Nutrition, and to build resilience in its Pharma business. The company has leading positions in several highly attractive markets and is poised to benefit from major paradigm shifts in biology, technology, and data. Fresenius Kabi aims to leverage its market position to be an important player in meeting the consistently growing demand of high-quality, affordable treatments.

Fresenius CEO Michael Sen opened the meeting: “Fresenius is moving ahead in its efforts to simplify, sharpen its focus and accelerate performance, all pointed at Advancing Patient Care. Fresenius Kabi – now streamlined into Pharma, Biopharma, Nutrition and MedTech activities – is key to our mission, and key to improved financial performance.”

Sen continued: “Greater transparency will enhance understanding and appreciation of Kabi’s strengths and ambitions. That is the purpose of the day. Kabi advances patient care every day, improving the treatment for the benefit of patients worldwide. It has outstanding formulations and products, a global customer and manufacturing footprint, and an exciting pipeline of new innovations. The new management team has the energy and know-how to bring all these strengths forward, and to deliver on the financial metrics we’ve set out for the Group.”

At the Capital Markets Day, the company will provide clarity on the value drivers that underpin its decision to raise Fresenius Kabi’s 2023 sales and EBIT guidance and improve its 2026 EBIT margin ambition level. For 2023, the company now expects Fresenius Kabi to grow organic sales¹ in the mid-single digits (previously: growth¹ in low- to mid-single digits percentage range) and projects EBIT margin² of around 14% (previously: 1%-point below the structural 14 to 17% margin² band). Fresenius Group guidance is unchanged. For 2026, Kabi now targets EBIT margins at the upper end of its 14 to 17% structural margin band. 

Fresenius Kabi CEO Pierluigi Antonelli said: “Fresenius Kabi is committed to the delivery of relevant and advanced treatments across our four segments. Fresenius Kabi embarked on a value creation pathway, and we have already made significant progress along that journey. Our focus across all four business units is disciplined execution and we are implementing initiatives aimed at securing sustainable and profitable long-term growth – for the good of patients, customers, and shareholders. We’ve made significant progress along that journey. We have a strong and experienced leadership team in place with a truly unique mix of competencies, clear accountability, and a performance-oriented focus.”

Highlights of the presentations 
Kabi’s new leadership team will discuss some of the organizational and operational changes being implemented and provide greater transparency on the three growth vectors (i.e., BioPharma, Nutrition and MedTech) as well as the Pharma business where the company further builds up resilience. 

Rollout Nutrition – Fresenius Kabi’s Nutrition business (2022 sales of €2.4bn) focuses on the fundamentally attractive market for Parenteral Nutrition (PN) and Enteral Nutrition (EN). Kabi’s Nutrition business holds leading positions in several key regions with a broad innovative portfolio of products including multi-chamber bags, lipids, amino acids, additives, sip and tube feeds, powders, and nutritional drugs. The portfolio offers robust potential from innovative products and an improved product and market mix. The company also sees significant geographic expansion opportunities, especially in China and the U.S. market.
Sales for Nutrition are expected to grow organically by 4 to 7% p.a. over the period 2022 to 2026. Fresenius Kabi targets stable EBIT margins at high level with upside potential. 

Expand on MedTech – Expecting enhanced performance and value. Kabi’s MedTech business (2022 sales of €1.4bn) comprises an Infusion & Nutrition Systems (INS) unit and a Transfusion Medicine & Cell Therapies (TCT) unit. Through INS, the company provides a range of infusion pumps, IV access systems, nutritional systems and feeding tubes. Through TCT, Kabi offers a broad portfolio of products for blood collection, apheresis, plasma processing, autotransfusions and cell therapies. MedTech holds leading TCT positions with strong growth segments such as plasma and Cell & Gene Therapies. Kabi plans to expand its INS presence in the US with the help of Ivenix, a company acquired in 2022 and is also targeting growth in the software solution business. 
Sales for MedTech are targeted to grow organically by 8 to 10% p.a. over the period 2022 to 2026. For EBIT margins a strong improvement is targeted. 
 
Broaden Biopharma – BioPharma (2022 sales €0.2bn) comprises of a rapidly growing Biosimilars business and a nascent CDMO³ unit. After a period of heavy investments in building capacity and the pipeline, Biopharma is poised for rapid growth. The company has a track record of successful market entries in Europe and countries around the world. Based on its portfolio and pipeline in Autoimmune and Anti-inflammatory Disorders (AIID) and Oncology, Kabi’s ambition is to outgrow the market. Scaling and driving vertical integration with mAbxience also offers a synergistic setup for margin improvements.
Sales for this business are projected to triple to quadruple over the period 2022 to 2026. Fresenius Kabi expects significantly improving EBIT margins and is committed to deliver EBITDA breakeven in 2024. 

Build resilience in Pharma – Kabi’s Pharma unit (2022 sales of €3.8bn) is a supplier of system-critical generic IV Drugs and Fluids in a large global market growing in the low single digits. Kabi is a leading supplier of IV drugs in anesthetics & analgesics, anti-infectives, critical care and oncology, as well as IV Fluids such as crystalloids and colloids. Kabi’s Pharma business is built on a strong footprint in attractive markets with long-standing customers and contracting expertise. The broad launch pipeline with areas of product differentiation and new molecules, covers ~80% of relevant drugs losing exclusivity (LOE) in U.S. 
Sales for this business are projected to grow organically by 2 to 4% p.a. over the period 2022 to 2026. The focus for Pharma is on stable margin performance and growing earnings. 

¹FY/22 base: €7,850 million
²FY/22 base: EBIT margin: 13.8%, before special items; FY/23 before special items
³Contract Development and Manufacturing Organisation

Webcast 
Presentations will be held on May 25, 2023, starting at 11:30 a.m. CEDT. You are cordially invited to follow the Capital Markets Day in a live webcast at https://www.fresenius.com/capital-markets-day. After the event, a replay will be available on our website.

Fresenius Medical Care, the world’s leading provider of products and services for individuals with renal diseases, signed the German Diversity Charter “Charta der Vielfalt”, underscoring its commitment towards creating an equitable and diverse working environment. This follows the Company’s announcement in April this year, that it has adopted United Nations (UN) Women’s Empowerment Principles.

Charta der Vielfalt – under the patronage of German Chancellor Olaf Scholz – aims to promote diversity in companies and institutions. The initiative has the objective of advancing the recognition, appreciation and inclusion of diversity in the workplace in Germany. In signing the charter, Fresenius Medical Care commits to creating a work environment where all employees are valued – regardless of age, ethnic origin and nationality, gender and gender identity, physical and mental abilities, religion and ideology, sexual orientation and social background.

Helen Giza, CEO of Fresenius Medical Care, said: “Fresenius Medical Care’s commitment towards diversity, equity and inclusion is key to unlocking greater innovation and creating long-term value for our patients and the communities we serve. Signing the Charta der Vielfalt is a testament to our dedication to cultivating a sense of belonging in an environment where every employee feels safe, welcome, and appreciated.”

In 2022, the Company issued three global policies, focusing on promoting diversity, equity, and inclusion, supporting employee groups, and diversity in recruitment. 

To date, the Company has 16 employee groups supporting Women Leaders, the LatinX  community and more, enabling employees to come together for professional and personal development, and peer support. Fresenius Medical Care also educates its leaders on how to model inclusive behaviors. Furthermore, to promote gender diversity, the company has set itself the goal of increasing the overall representation of women in management positions to reflect the percentage of women in the global employee population by 2030. More information on Fresenius Medical Care's commitment can be found in the Company’s Non-Financial Group Report 2022.

Fresenius has signed the German "Charta der Vielfalt" (Diversity Charter). The healthcare group is thus taking a strong stance for diversity and inclusion in its own company. The Diversity Charter is an initiative to promote diversity in companies and institutions under the patronage of German Chancellor Olaf Scholz. The aim of the initiative is to advance the recognition, appreciation, and inclusion of diversity in the working world in Germany. Organizations that sign the charter are working to create a prejudice-free environment in which all employees are valued - regardless of age, ethnic origin and nationality, gender and gender identity, physical and mental abilities, religion and worldview, sexual orientation, and social background.

"Diversity is a strength. People from more than 140 different nations work at Fresenius worldwide, all with different backgrounds and their own history," said Sebastian Biedenkopf, Fresenius Management Board member for Human Resources (Labor Relations Director), Risk Management and Legal. "By signing the Diversity Charter, we commit to creating a prejudice-free working environment where everyone can develop their potential."

Various measures in Fresenius' different business segments help promote diversity, equality, and inclusion. For example, Fresenius offers an education program specifically for women in leadership positions, where participants can also build a network. Furthermore, Helios Kliniken in Germany specifically trains employees to become integration managers, who support foreign colleagues on their arrival in Germany in dealing with authorities and in other situations. 

In addition, the Group has various queer communities with contact points and regular meetings, numerous employee networks such as the Women's Initiative in Europe and the Employee Impact Group African Voices, and gender equality training for managers and employees. More information on diversity in practice at Fresenius can be found in the Sustainability Report.

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The healthcare group Fresenius has issued its first sustainability-linked Schuldschein loan with a volume of 850 million euros. It consists of 6 tranches with maturities of 3, 5 and 7 years, each offered with fixed and variable interest rates.

The margin of the Schuldschein loan is linked to the achievement of sustainability targets from two areas that are core to Fresenius as a healthcare group: treatment quality and product safety. 

Sara Hennicken, CFO of Fresenius: “Sustainability is becoming increasingly important in financing. We are taking this into account with our first sustainable Schuldschein loan. With this transaction, we are diversifying our investor base and further strengthening our liquidity.”

The high investor demand significantly exceeded the originally intended volume of 300 million euros. This made it possible to set the pricing for each tranche at the tight end of the marketing range. In total, more than 50 institutional investors from Europe and Asia participated in the transaction.

The proceeds from the Schuldschein loan will be used for general corporate purposes, including the refinancing of existing financial liabilities. Settlement is scheduled for May 30, 2023.

The transaction was arranged by DZ BANK AG, Landesbank Hessen-Thüringen Girozentrale and ING. ING has acted as Sustainability Structuring Advisor to this transaction.

The health care group Fresenius is making good progress with its realignment. “We have worked hard in recent months. We have set fundamental things in motion. Today, Fresenius has a clear focus and a clear strategic direction,” Fresenius CEO Michael Sen said in his speech at the Company's virtual annual general meeting today. Changes cannot be expected overnight , he added. But Fresenius is making progress, he said. “Overall, we started promisingly into the new year. The figures for the first quarter confirm: We are heading in the right direction.” The task now, he said, is to continuously develop the portfolio and open new growth areas.

Fresenius is focusing on its two Operating Companies Fresenius Kabi and Fresenius Helios. They are both geared to therapies and hold leading positions in attractive growth markets. With (Bio)Pharma, MedTech and Care Provision, they cover the three central growth platforms in the therapy sector. “That makes us unique. No other company does it like this,” Sen said. Fresenius will continue this path, he added. He confirmed the outlook for 2023.

In his speech, Sen also emphasized the great importance of Fresenius to society: “We are a company that does not have to search for its purpose. We work every day to improve people's health. Advancing Patient Care – that is our mission. Fresenius occupies a key position at the heart of health care.” It was Michael Sen's first Annual General Meeting as CEO of Fresenius.

Shareholders approved with a large majority of 96.71 percent the proposal of the General Partner and the Supervisory Board to maintain the dividend at €0.92 per share.

The shareholders also approved with a large majority of 89.19 percent the Compensation Report for the 2022 business year.

With a majority of 93.01 percent, the shareholders approved an update to the compensation system for members of the Management Board. In particular, the Compensation System 2023+ provides for a new plan for long-term variable compensation that takes even greater account of promoting the long-term and sustainable development of the Company. In addition, the aspect of sustainability has been anchored even more strongly in the long-term variable compensation.

The shareholders authorized the Company with a majority of 87.64 percent to continue to hold the Annual General Meeting in virtual format in the next two years if required.

Shareholder majorities of 93.53 and 89.19 percent, respectively, approved the actions of the Management and Supervisory Boards in 2022.

At the Annual General Meeting of Fresenius SE & Co. KGaA, 72.57 percent of the subscribed capital was represented.