Consolidated Financial Statements / Management Report 2015 (IFRS)
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Annual Report 2015 (US-GAAP)
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The Supervisory Board of Fresenius Medical Care AG & Co. KGaA has decided in its meeting on March 9, 2016, to propose to the Annual General Meeting on May 12, 2016 the following candidates for regular election to the Supervisory Board:
- Dr. Gerd Krick, former Chairman of the Management Board of Fresenius AG, Chairman of the Supervisory Board since 1998
- Dr. Dieter Schenk, attorney and tax advisor, partner of Noerr LLP, Vice Chairman of the Supervisory Board since 1996
- Rolf A. Classon, Chairman of the Board of Directors of Hill-Rom Corp. (formerly Hillenbrand Industries, Inc.), member of the Supervisory Board since 2011
- William P. Johnston, former Chairman of the Board of Directors of the Renal Care Group, Inc., member of the Supervisory Board since 2006
- Deborah Doyle McWhinney, former Chief Executive Officer and Chief Operating Officer of Citi Enterprise Payments (Citigroup, Inc.)
- Pascale Witz, Executive Vice President, Global Diabetes & Cardiovascular, Sanofi S.A.
In case of the election by the Annual General Meeting, two new members, Deborah Doyle McWhinney and Pascale Witz, will join the Supervisory Board. Dr. Walter L. Weisman, member of the Supervisory Board since 1996, as well as Prof. Dr. Bernd Fahrholz, member of the Supervisory Board since 1998, will leave the Supervisory Board following the Annual General Meeting on May 12, 2016.
The Supervisory Board proposes the election of the candidates to the Supervisory Board for a 5 year term until the conclusion of the Annual General Meeting which resolves on the discharge for fiscal year 2020.
It is intended to propose the election of Dr. Gerd Krick as Chairman of the Supervisory Board in case of his reelection as a member of the Supervisory Board.
Dr. Gerd Krick, Dr. Dieter Schenk, Rolf A. Classon and William P. Johnston as well as Dr. Ulf M. Schneider shall continue to be members of the Supervisory Board of Fresenius Medical Care Management AG. Stephan Sturm, Chief Financial Officer of Fresenius, shall be elected as a new member of the Supervisory Board. Dr. Walter L. Weisman will leave the Supervisory Board effective on May 12, 2016.
Fresenius Medical Care Management AG is the General Partner of Fresenius Medical Care AG & Co. KGaA, which acts on its own responsibility, manages the Company and conducts the Company's business. The Supervisory Board of Fresenius Medical Care Management AG appoints the members of the Management Board of Fresenius Medical Care Management AG.
The invitation and detailed agenda for the Annual General Meeting of Fresenius Medical Care AG & Co. KGaA on May 12, 2016, are expected to be published on March 31, 2016.
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.
At its meeting today, the Supervisory Board of Fresenius SE & Co. KGaA nominated the following candidates for election to the Supervisory Board by the Annual General Meeting on May 13, 2016:
- Prof. Dr. med. D. Michael Albrecht, Medical Director and Spokesman of the Management Board of the Universitätsklinikum Carl Gustav Carus Dresden; member of the Supervisory Board since 2011
- Michael Diekmann, former Chief Executive Officer of Allianz SE; member of the Supervisory Board since 2015
- Dr. Gerd Krick, former Chief Executive Officer of Fresenius AG; member of the Supervisory Board since 2003
- Prof. Dr. med. Iris Löw-Friedrich, Chief Medical Officer and Executive Vice President, Head of Development and Medical Patient Value Practices at UCB S.A.
- Klaus-Peter Müller, Chairman of the Supervisory Board of Commerzbank AG; member of the Supervisory Board since 2008
- Hauke Stars, Member of the Management Board of Deutsche Börse AG
If elected by the Annual General Meeting, Prof. Dr. med. Iris Löw-Friedrich und Ms. Hauke Stars will join the Supervisory Board as new shareholder representatives. Prof. Dr. Roland Berger, a member since 2008, and Gerhard Roggemann, a member from 1998 to 2004 and again since 2011, will leave the Supervisory Board at the close of the Annual General Meeting.
All candidates are nominated for a five-year term, ending with the close of the 2021 Annual General Meeting. If re-elected to the Supervisory Board, Dr. Gerd Krick will be proposed for election as Chairman.
The Supervisory Board of Fresenius SE & Co. KGaA consists of 12 members. The six employee representatives are elected by the European works council.
Dr. Gerd Krick, Michael Diekmann and Klaus-Peter Müller, as well as Dr. Dieter Schenk, a lawyer and tax consultant, and Dr. Karl Schneider, former Spokesman of the Management Board of Südzucker AG, are nominated for re-election to the Supervisory Board of Fresenius Management SE. Effective on May 13, 2016, Prof. Dr. Roland Berger will leave the Supervisory Board of Fresenius Management SE. Dr. Kurt Bock, Chief Executive Officer of BASF SE, is nominated to join the Supervisory Board of Fresenius Management SE.
As the general partner, Fresenius Management SE manages Fresenius SE & Co. KGaA. The Supervisory Board of Fresenius Management SE, which consists of six members and is not subject to employee co-determination, appoints the Management Board of Fresenius Management SE.
The invitation and complete agenda for the Annual General Meeting of Fresenius SE & Co. KGaA, to be held on May 13, 2016, will be published on March 31, 2016.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
At its meeting today, the Supervisory Board of Fresenius SE & Co. KGaA nominated the following candidates for election to the Supervisory Board by the Annual General Meeting on May 13, 2016:
- Prof. Dr. med. D. Michael Albrecht, Medical Director and Spokesman of the Management Board of the Universitätsklinikum Carl Gustav Carus Dresden; member of the Supervisory Board since 2011
- Michael Diekmann, former Chief Executive Officer of Allianz SE; member of the Supervisory Board since 2015
- Dr. Gerd Krick, former Chief Executive Officer of Fresenius AG; member of the Supervisory Board since 2003
- Prof. Dr. med. Iris Löw-Friedrich, Chief Medical Officer and Executive Vice President, Head of Development and Medical Patient Value Practices at UCB S.A.
- Klaus-Peter Müller, Chairman of the Supervisory Board of Commerzbank AG; member of the Supervisory Board since 2008
- Hauke Stars, Member of the Management Board of Deutsche Börse AG
If elected by the Annual General Meeting, Prof. Dr. med. Iris Löw-Friedrich und Ms. Hauke Stars will join the Supervisory Board as new shareholder representatives. Prof. Dr. Roland Berger, a member since 2008, and Gerhard Roggemann, a member from 1998 to 2004 and again since 2011, will leave the Supervisory Board at the close of the Annual General Meeting.
All candidates are nominated for a five-year term, ending with the close of the 2021 Annual General Meeting. If re-elected to the Supervisory Board, Dr. Gerd Krick will be proposed for election as Chairman.
The Supervisory Board of Fresenius SE & Co. KGaA consists of 12 members. The six employee representatives are elected by the European works council.
Dr. Gerd Krick, Michael Diekmann and Klaus-Peter Müller, as well as Dr. Dieter Schenk, a lawyer and tax consultant, and Dr. Karl Schneider, former Spokesman of the Management Board of Südzucker AG, are nominated for re-election to the Supervisory Board of Fresenius Management SE. Effective on May 13, 2016, Prof. Dr. Roland Berger will leave the Supervisory Board of Fresenius Management SE. Dr. Kurt Bock, Chief Executive Officer of BASF SE, is nominated to join the Supervisory Board of Fresenius Management SE.
As the general partner, Fresenius Management SE manages Fresenius SE & Co. KGaA. The Supervisory Board of Fresenius Management SE, which consists of six members and is not subject to employee co-determination, appoints the Management Board of Fresenius Management SE.
The invitation and complete agenda for the Annual General Meeting of Fresenius SE & Co. KGaA, to be held on May 13, 2016, will be published on March 31, 2016.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
March 17, 2016
Bad Homburg, Germany
Annual Report 2015 (U.S. GAAP)
and Consolidated Financial Statements and Management Report (IFRS)
Fresenius Medical Care, the world’s largest provider of dialysis products and services, is aiming to increase sales and earnings in the coming years. At today’s Annual General Meeting in Frankfurt, chief executive officer Rice Powell confirmed the company’s growth targets for 2015 and beyond. Revenue is expected to increase by 10 to 12% in constant currency and net income by up to 5%. In 2016, the company expects net income to grow by 15 to 20%, and revenue to increase by 9 to 12% in constant currency.
“We will continue to grow our dialysis services and products business while helping to decisively shape the development of the dialysis market,” Powell told shareholders. “But we are more than just a dialysis company. With the Care Coordination area, we will extend our range to additional medical services. In other words, we want to keep improving dialysis treatment overall.”
The new Care Coordination business area includes the coordination of outpatient, inpatient and intensive-care services, as well as vascular care. Fresenius Medical Care also offers laboratory services and coordinates medication for patients with chronic kidney failure. The company expects total revenue share from Care Coordination to grow from 7% to about 18% in 2020.
With a large majority of 99.62%, shareholders approved Fresenius Medical Care’s 18th consecutive dividend increase. The dividend will be raised to €0.78 from €0.77 per share.
Shareholder majorities of 99.83% and 98.81%, respectively, approved the actions of both the Management and Supervisory Boards in 2014.
At the Annual General Meeting, 74.19% of the subscribed capital was represented.
The next Annual General Meeting is scheduled for May 12, 2016.
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius expects to set new sales and earnings records in 2015. Ulf Mark Schneider, CEO of Fresenius, confirmed the company’s growth targets at the Annual General Meeting in Frankfurt today. The global healthcare group forecasts sales growth of 7 to 10 percent and an increase in net income of 13 to 16 percent this year, both in constant currency. After a strong first quarter, Fresenius had raised its earnings guidance in April.
“We are very confident that our steady, strong growth will continue,” Schneider said. “The demand for healthcare continues to rise around the world. In industrialized countries, it is driven primarily by increasing life expectancies and health awareness. Globally, more people are gaining access to high-quality healthcare. Many of the biggest emerging market countries are rolling out comprehensive, nationwide healthcare coverage.”
Shareholders voted with a majority of 88.67% to approve the 22nd consecutive dividend increase proposed by the general partner and the Supervisory Board. The dividend was raised by 6% to €0.44 per share.
The Annual General Meeting, with a majority of 98.23%, elected Michael Diekmann as a new member of the Supervisory Board of Fresenius SE & Co. KGaA. Diekmann, who was CEO of Allianz SE from 2003 until this year, will seek election as Deputy Chairman. The new election was necessary following the death of Dr. Gerhard Rupprecht, Supervisory Board’s Deputy Chairman, in 2014.
Shareholder majorities of 99.61 and 97.99%, respectively, approved the actions of the Management and Supervisory Boards in 2014.
At the Annual General Meeting, 73.97% of the subscribed capital was represented.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
March 15, 2016
Paris, France