Fresenius 1Q Adjusted Net Profit Rose on Higher Revenue

By Matteo Castia

Fresenius SE & Co. said Wednesday that first-quarter adjusted net profit rose on higher sales, and backed its full-year guidance excluding the positive and negative effects of the coronavirus pandemic on the business.

Guidance for the whole year which takes into consideration the pandemic will be given out with the second-quarter results, it said.

The German provider of health products and services said adjusted net profit for the quarter was 465 million euros ($505.3 million) compared with EUR457 million a year earlier.

Sales rose 8% year-on-year to EUR9.10 billion, beating the EUR8.95 billion market consensus.

At Fresenius Medical Care, the group's dialysis division, net profit rose 4% on the year to EUR283 million, while sales increased 9% to EUR4.49 billion supported by growth in all regions.

Fresenius Medical Care expects both revenue and net income to rise at a rate in the mid to high single digits this year, the company said.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

May 06, 2020 01:29 ET (05:29 GMT)

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