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Fresenius Group's net profit moves up by 14.6% in Q2 to €243 mn
Our Bureau, Mumbai | Thursday, August 1, 2013, 15:15 Hrs  [IST]

Fresenius Group has posted satisfactory financial performance during the second quarter ended June 2013 on account of well-diversified business and focus on emerging markets. Its consolidated net profit increased by 14.6 per cent to €243 million from €212 million in the corresponding quarter of last year as its interest and tax provision declined. The EBDITA was under pressure and declined by 2 per cent to €942 million from €961 million. Its sales increased by 5.8 per cent during the quarter to €5,097 million from €4,817 million.

For the first six months ended June 2013, Fresenius Group's consolidated net profit increased by 4.5 per cent to €462 million from €442 million and net sales by 8.1 per cent to €9,987 million from €9,236 million in the similar period of last year. Its EBDITA moved up by only 2 per cent to €1,833 million from €1,799 million. The consolidated figures includes, Fresenius Medical Care, Fresenius Kabi, Fresenius Helios, Fresenius Vamed and other corporate working.

Ulf Mark Schneider, CEO, said, “The first-half results underline that our broad geographic presence and well-diversified business contribute to the company's success in a challenging environment. We are expanding our footprint in fast-growing emerging markets and work on promising growth initiatives. We remain highly confident of our company's growth prospects and raise 2013 Group earnings guidance.”

The sales of Fresenius Medical Care increased by 5 per cent to €5,388 million during the first half ended June 2013. Similarly, Fresenius Kabi registered strong sales growth of 13 per cent to €2,519 million and that of Fresenius Helios went up by 11 per cent to €1,695 million. The company's fourth subsidiary, Fresenius Vamed registered growth of 21 per cent during the first half to €421 million. The consolidated sales in North America increased by 9 per cent to €4,268 million from €3,910 million in the same half of last year and that in Europe increased by 7 per cent to €4,010 million from €3,764 million. Its sales in Asia-Pacific increased 8 per cent to €954 million. Latin America and African sales increased by 8 per cent and 24 per cent respectively.

Based on the group's positive growth prospects for the second half of 2013, Fresenius raises its full-year earnings guidance. The company now expects net income to increase by 11 per cent to 14 per cent in constant currency. Sales are expected to increase by 7-10 per cent. The Group plans to invest around 5 per cent of sales in property, plant and equipment.

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