Financial Results
Q1/2024 Results
Fresenius raises outlook for fiscal 2024 due to excellent first quarter
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Excellent start to 2024: Group outlook raised for FY/24 due to the excellent first quarter and a better than originally expected operating performance for the remainder of the financial year 2024: Group organic revenue growth 4 to 7%, EBIT growth in constant currency 6 to 10%.
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Strategic portfolio measures concluded: Structured exit from Investment Company Vamed initiated.
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Strong organic growth in Group revenue of 6% to € 5.7 billion in Q1/24; Group EBIT increase in constant currency by 15% to € 633 million reflects the excellent performance of Operating Companies and the group-wide cost savings progressing ahead of plan.
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EPS increases: 11% in constant currency.
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Strong operating cash flow development at Fresenius Kabi driven by working capital efficiencies; Fresenius Helios expects catch-up of outstanding receivables in Germany in the course of the year.
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Fresenius Kabi shows excellent organic revenue growth of 9% and an improved EBIT margin at 15.1% in particular driven by the positive development of the Biopharma business.
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Biopharma business picking up: EBIT break-even in Q1/24 driven by licensing business at mAbxience; Tyenne with good progress.
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Fresenius Helios with solid organic revenue growth of 5% and EBIT margin of 11.1%; supported by phasing of energy related government relief funding in Germany and strong operating performance
Q1/24 Results
WebcastSelected Key Figures Q1/2024
GROUP REVENUE
€ 5704 m
+ 6% 1, 2
Q1/23: €5,546 m
GROUP EBIT 3
€ 633 m
+15% 2, 4, 5
Q1/23: €554 m
NET INCOME 3, 6
€ 429 m
+11% 2, 4
Q1/23: €389 m
1 Organic revenue growth; organic growth rate adjusted for accounting effects related to Argentina hyperinflation
2 Adjusted for the divestment of the Eugin group and the hospital stake in Peru
3 Before special items
4 At constant currency
5 Growth rate adjusted for Argentina hyperinflation
6 Net income attributable to shareholders of Fresenius SE & Co. KGaA
Revenue by business segment
| € in millions | Q1/24 | Q1/23 | Change | Growth at constant rates | Organic growth | Acquisitions | Divestitures | % of total revenue |
|---|---|---|---|---|---|---|---|---|
Fresenius Kabi | 2,051 | 1,991 | 3% | 9% | 9%2 | 0% | 0% | 36% |
Fresenius Helios | 3,184 | 3,066 | 6%1 | 5% | 5% | 0% | 0% | 56% |
Fresenius Vamed | 561 | 583 | -4% | -4% | 1% | 0% | -5% | 8% |
Total | 5,704 | 5,546 | 4%1 | 6% | 6%1,2 | 0% | -0% | 100% |
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1 Adjusted for the divestment of the Eugin group and the hospital in Peru
2 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation