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Fresenius Net Income Surges By 24% In 2007 At Euro 11,358
Million
Fresenius Group, a health care group with international operations, providing
products and services for dialysis, hospital and outpatient medical care, has
reported net profit growth of 24.2 per cent during the year ended December 2007
to Euro 410 million as against Euro 330 million in the previous year. The
Group's sales increased by 5.4 per cent to Euro 11,358 million from Euro 10,777
million. The earning per share worked out to Euro 2.64 as compared to Euro 2.15
after adjusting for share split.
The Board has stepped up dividend to Euro 0.66 per share for the year 2007
from Euro 0.57 in the preceding year. The preference dividend also increased to
Euro 0.67 per share from Euro 0.58. The total dividend distribution amounts to
Euro 103.2 million as against Euro 88.8 million in the last year.
Fresenius Group is consists of three major business segment viz., Fresenius
Medical Care, Fresenius Kabi and Fresenius ProServe. For 2008, Fresenius Group
projected further improvements in its financial results with sales likely to go
up by 8 to 10 per cent in constant currency. Net income is also expected to
increase by 10 to 15 per cent.
The sales in Europe increased by 7 per cent and the same in North America
moved up by 10 per cent. The group achieved strong growth in the emerging
markets with organic growth of 9 per cent in Asia-Pacific, 10 per cent in Latin
America and 26 per cent in Africa. Its European sales reached at Euro 4,852
million and that of American touched to Euro 4,932 million.
Fresenius Group spent Euro 705 million for property, plant and equipment and
intangible assets during 2007. Its total assets increased by 8 per cent to Euro
15,324 million from Euro 15,024 million.
Fresenius Medical Care (FMC) business segment, the world's leading provider
of services and products for patients with chronic kidney failure, has achieved
sales growth of 14 per cent during 2007 to US$ 9,720 million. Its net profit
moved up by 8 per cent to $717 million. FMC acquired Renal Solutions, Inc and
expanding home hemodialysis business.
Fresenius Kabi offers infusion therapies and clinical nutrition for seriously
and chronically ill patients in the hospital and out-patient environments. Its
sales increased by 7 per cent to Euro 2,030 million and its earned higher net
profit of Euro 183 million during 2007. Fresenius Kabi acquired Nestle SA the
enteral nutrition business in France and Spain. It also acquired the Chilean
Company Laboratorio Sanderson SA and Italian company Ribbon S.r.L.
Fresenius ProServe business was replaced by the two business segments
Fresenius Helios and Fresenius Vamed. The total sales of both business reached
at Euro 2,268 million, up by 5 per cent and net profit at Euro 81 million as at
the end of 2007.
(Ref: The Chronicle Pharmabiz dated March 6, 2008)
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