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Fresenius SE & Co. KGaA: Outlook 2023 – Fresenius advances with deconsolidation of Fresenius Medical Care by changing its legal form into a German stock corporation (Aktiengesellschaft)

EQS Group
·3-min read

Fresenius SE & Co. KGaA / Key word(s): Forecast/Strategic Company Decision
Fresenius SE & Co. KGaA: Outlook 2023 – Fresenius advances with deconsolidation of Fresenius Medical Care by changing its legal form into a German stock corporation (Aktiengesellschaft)

21-Feb-2023 / 19:02 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Fresenius has set the strategic course for simplifying the Group structure. As part of a comprehensive range of initiatives, the management board of Fresenius Management SE has also put in place a new financial framework. For 2023, Fresenius now provides full-year guidance for organic sales growth and operating income (EBIT). For 2023, Fresenius expects Group organic revenue (base 2022: €40,840 million) to grow in a low- to mid-single-digit percentage range. Group constant currency EBIT before special items (base 2022: €3,727 million*) is expected to remain broadly flat or decline up to a high-single-digit percentage rate. The range of the decrease compared to the previous year is mainly due to a challenging business environment at Fresenius Medical Care. Excluding Fresenius Medical Care, the Group constant currency EBIT before special items (base 2022: €2,187 million) is expected to remain broadly flat or decline up to a mid-single-digit percentage rate.

The responsible corporate bodies of Fresenius SE & Co. KGaA have resolved to advance with the deconsolidation of its subsidiary Fresenius Medical Care AG & Co. KGaA ("FMC") by way of a change of the legal form of FMC into a German stock corporation (“Aktiengesellschaft”). It is intended to resolve on the change of the legal form in an Extraordinary General Meeting to be convened by FMC for the beginning of the third quarter of 2023. The conversion is expected to become effective by the end of the 2023 financial year.

* Before special items; In 2022, operating income was supported by EUR 277 million  (at current currency) of U.S. Provider Relief Funding (PRF). There is no additional governmental support assumed for 2023. To provide a comparable basis for the 2023 earnings outlook, the 2022 basis is adjusted accordingly.

For additional information on the performance indicators used please refer to our website at https://www.fresenius.com/alternative-performance-measures. 
 
(Financial statements according to IFRS)

Fresenius SE & Co. KGaA, 
represented by Fresenius Management SE, 
The Management Board

Bad Homburg v.d.H., February 21, 2023

----------------------------------------
Contact:
Markus Georgi
Senior Vice President Investor Relations & Sustainability
T: +49 (0) 6172 608-2485
markus.georgi@fresenius.com
----------------------------------------

End of Note

21-Feb-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

Fresenius SE & Co. KGaA

Else-Kröner-Straße 1

61352 Bad Homburg v.d.H.

Germany

Phone:

+49 (0)6172 608-2485

Fax:

+49 (0)6172 608-2488

E-mail:

ir-fre@fresenius.com

Internet:

www.fresenius.com

ISIN:

DE0005785604

WKN:

578560

Indices:

DAX

Listed:

Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange

EQS News ID:

1565211


 

End of Announcement

EQS News Service

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