Business & Finance
Fresenius Medical Care reports first quarter 2018 financial results
4 May 2018 -

Fresenius Medical Care, a Germany-based company specialising in the production of medical supplies, yesterday announced its financial results for the first quarter of 2018.

The company stated that revenue in the first quarter 2018 was significantly impacted by a 12% negative impact resulting from foreign currency translation, declining 1% at constant currency to EUR3,976m.

Adjusting Q1 2017 for the prior year impact from the recognition of revenue related to the agreement with the US Departments of Veterans Affairs and Justice (VA Agreement) and for the IFRS 15 implementation, revenue growth in the first quarter 2018 was 4% at constant currency. Total operating income (EBIT) reached EUR497m (margin of 12.5%, 180 basis points below the level of last year).

Net income attributable to shareholders of Fresenius Medical Care AG & Co KGaA remained strong with EUR279m.

Based on the number of approximately 306.5 million shares (weighted average number of shares outstanding), basic earnings per share (EPS) amounted to EUR0.91, compared to EUR1.01 for the first quarter of 2017.

Commenting on the outlook for the rest of 2018, the company expects revenue growth between 5%and 7% at constant currency. Adjusted net income is expected to increase by 13% to 15% at constant currency and excluding special items to increase by 7% to 9%. The targets exclude effects from major transactions such as the planned acquisition of NxStage Medical and the planned divestiture of Sound Physicians.