Fresenius Group, a German based pharmaceutical major, has improved its performance during the third quarter ended September 2009 and posted a net profit of €65 million as against a net loss of €59 million in the corresponding period of last year. Its sales increased by 15.8 per cent to €3,534 million from €3,051 million. The group's Research & Development expenditure reduced to €52 million from €227 million in the last period.
All the segments of Fresenius Group viz, Fresenius Medical Care, Fresenius Kabi, Fresenius Helios and Fresenius Vamed achieved improved performance during the third quarter. Fresenius Medical Care (FMC) contributed almost 57 per cent to Group's sales during the quarter. Its sales improved by 12 per cent to €2,016 million. Similarly, sales of Fresenius Kabi improved by 26 per cent to €774 million and that of Fresenius Helios went up by 14 per cent to €604 million. Fresenius Vamed recorded sales of €146 million during the quarter and contributed 4 per cent to Fresenius Group sales.
For the first nine months ended September 2009, the sales of Fresenius Group improved by 19 per cent to €10,429 million from €8,761 million in the similar period of last year. The net profit went up sharply by 122 per cent to €339 million from €153 million. The sales of FMC increased by 16 per cent during first three quarters of 2009 to €6,010 million, contributing 58 per cent to Group's sales, from €5,184 million. Fresenius Kabi also pushed its sales by 31 per cent to €2,274 million from €1,734 million. Fresenius Helios recorded sales growth of 13 per cent to €1,768 million as compared to €1,568 million.
Based on the Group's satisfactory financial results, Fresenius fully confirms its positive outlook for 2009. Group sales are expected to grow by more than 10 per cent in constant currency. Organic growth is projected to be in a 6 to 8 per cent range. The Fresenius Group plans to invest €700 to 750 million in property, plant and equipment.
In Europe sales grew by 11 per cent in constant currency with organic sales growth contributing 8 per cent. In North America sales grew by 20 per cent in constant currency, mainly due to the consolidation of APP Pharmaceuticals from September 2008. Strong organic growth rates were achieved in the emerging markets, reaching 13 per cent in Asia-Pacific and 12 per cent in Latin America.
Fresenius Group spent €442 million for property, plant and equipment as compared to €502 million in the similar period of last year. Acquisition spending was €186 million as compared to €3,760 million in the last period, mainly due to the acquisition of APP Pharmaceuticals.
In North America sales increased by 9 per cent to US$ 5,600 million from US$ 5,153 million in corresponding period of last year.. Dialysis services revenue grew by 8 per cent to US$ 4,994 million. Average revenue per treatment for the US clinics increased to US$ 348 in Q3 2009 compared to US$ 333 for Q3 2008 and 344 US$ for Q2 2009. This development was mainly based on reimbursement increases and increased utilization of pharmaceuticals. Sales outside North America were US$ 2,612 million as against US$ 2,737 million during the first three quarters of last year.