Fresenius SE 2Q Profit Fell as Medical Care Subsidiary Suffers
August 02 2022 - 1:59AM
Dow Jones News
By Ed Frankl
Fresenius SE said Tuesday that second-quarter profits fell,
buffeted by "significantly worsening" business at its subsidiary
Fresenius Medical Care AG and a challenging macroeconomic
situation.
Last week, the German healthcare company cut its guidance for
the year after its 32%-owned subsidiary FMC said it would lower its
outlook due to U.S. labor shortages and a worsening economic
environment.
Fresenius's net income in the three months to the end of June
fell 5% to 450 million euros ($461.8 million), though its sales
climbed 8% to EUR10.02 billion.
Dialysis-care company FMC said its net income fell almost 40% to
EUR147 million, while revenue rose 10% to EUR4.76 billion.
Fresenius Kabi, a drug-making subsidiary, had solid organic
sales growth, while its Helios private-hospital operator continued
good admissions growth at its German and Spanish markets, Fresenius
said.
The Bad Homburg-based company confirmed its lowered guidance
issued on July 27 of sales growth in a low-to-mid single-digit
percentage range at constant currency, anticipating more pronounced
headwinds in 2022 from supply-chain disruptions and cost inflation,
including energy prices.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
August 02, 2022 01:44 ET (05:44 GMT)
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