Fresenius SE & Co, Germany based world's largest provider of products and services for individuals with renal diseases, has posted strong net profit growth of 31 per cent during the third quarter ended September 2015 on account of all-round performance of all units. Its net profit for the quarter increased to €367 million from €281 million in the corresponding period of last year. Its sales moved up by 16.1 per cent to €6,940 million from €5,978 million. EPS improved to €0.68 from €0.52 in the last period.
Its sales in North America has taken a quantum jump of 35 per cent and reached at €3,209 million from €2,378 million in the same period of last year. The sales in Europe moved up marginally by 2 per cent to €2,623 million from €2,584 million. However, its sales in Africa declined by 18 per cent to €84 million from €102 million. Asia-Pacific region registered sales growth of 18 per cent to €708 million as against €602 million.
The company is managing its business in four division viz., Fresenius Medical Care, Fresenius Kabi, Frenius Helios and Fresenius Vamed. Fresenius Medical Care achieved sales of €4,231 million with growth of 3 per cent on account of higher sales in North America. The sales of Fresenius Kabi went up by 16 per cent to €1,499 million from €1,294 million and net profit moved up by 42 per cent to €170 million. Fresenius Helios' net sales increased only by 2 per cent to €1,393 million, but its net profit increased by 18 per cent to €126 million. Fresenius Vamed, relatively small division, has posted sales growth of 4 per cent to €268 million.
For the nine months ended September 2015, Fresenius registered sales growth of 22 per cent to €20,369 million as against €16,711 million and its net profit moved up by 31.4 per cent to €1,009 million from €768 million. EPS worked out to €1.86 as compared to €1.42 in the similar nine months of last year. Its R&D expenditure increased by 28.1 per cent to €337 million from €263 million.
Ulf Mark Schneider, CEO, said, “Our strong growth trend continued with double-digit constant currency sales and earnings growth in the first nine months. All business segments contributed to the excellent financial results. Fresenius Kabi in particular stood out, benefiting from drug shortages and new product launches in the US market. We raise our Group earnings guidance for 2015 and remain optimistic about the positive fundamentals in our markets.”
Based on the Group's excellent financial results in the first nine months of 2015 and strong prospects for the remainder of the year, Fresenius raises its 2015 Group earnings guidance. Net income is now expected to grow by 20 to 22 per cent in constant currency. Previously, Fresenius expected net income growth of 18 to 21 per cent. The company fully confirms its Group sales guidance, Sales are expected to increase by 8 per cent to 10 per cent.