Fresenius Medical Care, the world’s largest provider of dialysis products and services, has established a subsidiary focusing on regenerative medicine. Unicyte AG will pursue research into kidney and liver diseases, diabetes and cancer, and will work with additional partners when needed to advance these projects.

Fresenius Medical Care has collaborated with the University of Turin since 2003. The first, groundbreaking result of their joint research under the direction of Prof. Giovanni Camussi, Scientific Director of the university’s Torino Stem Cell Project, was the isolation and characterization of a human stem cell population from an adult liver. These liver stem cells are easy to isolate, capable of being multiplied without limit and transferrable into various other cell types, making them a potential option for regenerative medicine.

Further important discoveries were functional pancreatic islets (which mimic the function of pancreatic cells) for the treatment of diabetes, and stem cell-derived extracellular vesicles (particles that support communication between cells) for the treatment of kidney and liver diseases as well as cancer. The first research results were converted recently into preclinical development projects.

On the basis of the successful partnership with Prof. Camussi, a leading expert on extracellular vesicles and stem cell research, Unicyte is continuing the joint research. The company will pursue the development projects up until the stage of clinical studies on humans. The long-term goal is to improve the lives of kidney and liver disease, diabetes and cancer patients.

Prof. Gianmaria Ajani, Rector of the University of Turin, stated: “This is an outstanding example of collaboration between industry and science. It is not only driving the development of new technologies, but is providing an educational opportunity for young people. Unicyte will attract more international sponsors and investors, and in this way secure, long-term jobs can be created.”

Dr. Olaf Schermeier, Fresenius Medical Care’s CEO for Global Research and Development, said: “We are very excited to be extending our successful collaboration with Prof. Camussi and the University of Turin. This is the right point in time to focus the outstanding scientific research on indications where there is great medical need.”

Florian Jehle, CEO of Unicyte and Vice President, Technology & Innovation Management at Fresenius Medical Care, said: “The establishment of Unicyte AG is the logical step to translate the existing research collaboration on stem cells and extracellular vesicles into clinical programs. In this way, Fresenius Medical Care is bundling its regenerative medicine research for selected indications.”

Prof. Camussi, Scientific Director of the Torino Stem Cell Project, stated: "The expectations for stem cell research have grown in recent years, but a rigorous scientific process is essential to developing targeted therapies while maintaining ethical standards. To develop sound clinical applications, our research must be reproducible and scientifically verifiable.”

Fresenius Medical Care, the world’s largest provider of dialysis products and services, has launched the 6008 CAREsystem for the treatment of patients with end-stage renal disease (ESRD). This new dialysis therapy system incorporates Fresenius Medical Care’s highest therapy standards while optimizing dialysis treatment and improving economic efficiency. Most importantly, it minimizes the number of risk-related handling steps and reduces complexity in therapy delivery.

The 6008 CAREsystem was introduced to specialists at the European Dialysis and Transplantation Association / European Renal Association (EDTA/ERA) conference in Vienna, which ended yesterday.

Dominik Wehner, Fresenius Medical Care’s Chief Executive Officer for Europe, Middle East and Africa, said: "The innovative 6008 CAREsystem is the next step in our Cardioprotective Hemodialysis concept: It offers a streamlined design to deliver advanced dialysis therapy more easily, leaving more time for direct patient care. As a result, more patients can benefit from improved outcomes and a higher level of care quality."

To enable significantly reduced complexity in therapy delivery, Fresenius Medical Care has developed a new, all-in-one disposable with completely pre-connected bloodlines for all treatment modalities.

Dr. Olaf Schermeier, the company’s Chief Executive Officer for Global Research and Development, stated: "Leveraging leading-edge technology, the new 6008 CAREsystem is designed to support physicians and caregivers. The reduction in the number of risk-related handling steps, and in the interactions required during the set-up and disconnection phases, reduce the pressure on staff and create an improved experience for the patient."

The numerous innovations built into the 6008 CAREsystem combine to create an enhanced dialysis therapy that enables better overall care for patients with chronic kidney failure. The 6008 CAREsystem also reduces the volume and weight of generated waste, making it even more cost-efficient and environmentally friendly.

The dialyzer (sometimes described as the "artificial kidney") and the dialysis machine are the two most important products in hemodialysis. While the dialyzer filters the patient’s blood, the dialysis machine pumps it and monitors its circulation outside the body. The machine also maintains the composition of the dialysis solution and introduces anticoagulants into the blood. Dialysis treatments generally last three to six hours, and are usually carried out three times a week.

More than half of all dialysis machines used worldwide are made by Fresenius Medical Care.

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pr-fre@fresenius.com

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Fresenius Medical Care, the world’s leading provider of dialysis products and services, expects significant sales and earnings growth in 2016. At the Annual General Meeting in Frankfurt today, CEO Rice Powell confirmed the full-year guidance announced in February. The company is targeting 7 to 10 percent revenue growth in constant currency, and an increase in net income of 15 to 20 percent.

Powell also confirmed Fresenius Medical Care’s long-term financial goals: Revenue of $28 billion is targeted for 2020, corresponding to an average growth rate of about 10 percent. Over the same period, an annual, high single-digit percent increase in net income is expected.

“We have every reason to look to the future with great confidence,” Powell said in his speech to the shareholders. “In the past year, we have positioned ourselves to continue the unique success story of Fresenius Medical Care in the years to come. We will continue to grow our dialysis services and products business while actively shaping the development of the dialysis market. We are extending our range of related medical services in the area of Care Coordination.”

A large shareholder majority of 99.96 percent approved the company’s 19th consecutive dividend increase. The dividend will be raised from €0.78 to €0.80 per share.

All candidates for the new term of the Supervisory Board were elected by the shareholders with clear majorities. Joining the Board for the first time are Deborah Doyle McWhinney, former Chief Executive Officer and Chief Operating Officer of Citi Enterprise Payments (Citigroup, Inc.), and Pascale Witz, Executive Vice President, Global Diabetes & Cardiovascular at Sanofi S.A.

Shareholder majorities of 99.92%, respectively, approved the actions of the Management and Supervisory Boards in 2015.

At the Annual General Meeting, 77.77% of the subscribed capital was represented.

The next Annual General Meeting is scheduled for May 11, 2017.

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pr-fre@fresenius.com

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• Group revenue increased +6%, strong net income growth of +9%
• North America: revenue +10%, significant increase of operating income (EBIT) +28%
• Segments outside North America strongly influenced by currency
• Care Coordination with strong organic growth of +17%
• First quarter performance in line to achieve full year guidance

First quarter 2016 key figures:

Net revenue: $4,205 million, +6%
Operating income (EBIT): $540 million, +7%
Net income¹: $228 million, +9%
Basic earnings per share: $0.75, +8%

¹ attributable to shareholders of Fresenius Medical Care AG & Co. KGaA

Rice Powell, Chief Executive Officer of Fresenius Medical Care stated: “We had a strong start to the year. Our core dialysis service and products business showed a very strong underlying growth globally. While our businesses outside the United States were largely influenced by currency, the North American market delivered a very satisfying result. In addition, Care Coordination continues to show strong topline growth. We are investing in our future growth in this area, but also expect the profitability to improve again in the course of the year. We are on track to achieve our full year guidance for 2016.”

Revenue & Earnings

Net revenue for the company improved by 6% and reached $4,205 million (+9% at constant currency), largely driven by strong Net Health Care revenue growth of +10% in North America. Net Health Care revenue contributed a 7% increase to $3,414 million, while product revenue grew 2% (6% at constant currency) to $791 million. Solid organic growth rates of 7% for Net Health Care as well as for the products business demonstrated a solid business performance. The development was primarily driven by higher revenue per treatment and more dialysis days.

Total operating income (EBIT) increased by 7% to $540 million (margin of 12.8%). This increase was driven by lower costs for Health Care supplies, a favorable impact from higher volume with commercial payors and further efficiency gains partially offset by higher personnel expense related to dialysis services in the North America segment, unfavourable foreign exchange effects in all segments outside North America as well as higher legal and consulting expenses.

Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA for the first quarter of 2016 was $228 million, a strong increase of 9% compared to $210 million of last year’s first quarter. Based on a number of approximately 305.3 million shares (weighted average number of shares outstanding), basic earnings per share (EPS) for the first three months 2016 amounted to $0.75, compared to $0.69 for the first quarter of 2015.

Segment development

North America revenue increased by 10% to $3,044 million (72% of total revenue). Dialysis business grew by 8%, Care Coordination increased by 20%. The continued progress in Care Coordination was driven by organic growth of +17% and reached $522 million in revenues. Dialysis growth was positively influenced by a higher volume with commercial payors, two more dialysis days and increased product sales (especially machines and dialyzers).

The substantially improved dialysis operating income margin of 16.9% (+300 basis points compared to Q1 2015) was due to lower costs from Health Care supplies, a favourable impact from commercial payors as well as decreased legal expenses. Total operating income (EBIT) for the quarter under review was $436 million, an impressive increase of 28%. Total operating income margin improved to 14.3%.

EMEA revenue increased by 5% to $631 million at constant currency. Positive business movements from an increase in dialysis treatments were offset by the negative currency impact, especially due to the strong US Dollar. Also product revenue came in with a 5% plus at constant currency ($330 million) due to increased sales of bloodlines, products for acute care treatments and hemodialysis solutions and concentrates. Operating income of $130 million in Q1 2016 was negatively impacted mainly due to the weakening of various local currencies.

Asia Pacific grew by 10% at constant currency to $374 million. The region recorded $168 million in Net Health Care revenue, based on an increase of 6% in dialysis treatments. With a growth of +16% at constant currency to $206 million, the product business showed a very strong sales performance in dialysers, bloodlines, machines and peritoneal dialysis products. Operating income decreased to $65 million (-23%) and was impacted by unfavorable foreign exchange effects, increased costs related to further sales development and costs associated with changes in the Management Board.

Latin America delivered revenue of $153 million, an improvement of 5% at constant currency (-23% on a reported basis). In addition to the negative currency impact, the business was mainly influenced by clinics sold in Venezuela in 2015. Dialysis treatments decreased accordingly by 6%. Product revenue decreased by 4% at constant currency to $40 million. Operating income was at $11 million, compared to $18 million in Q1 2015. Operating income margin decreased to 7.1% in Q1 2016 from 9.0% in Q1 2015 mainly due to higher costs related to inflation, unfavorable foreign exchange effects and an unfavorable impact from manufacturing production costs, partially offset by the impact from prior year lower margin dialysis service business in Venezuela which was subsequently divested in the third quarter of 2015.

Net interest expense in Q1 2016 was $105 million compared to $102 million in the first quarter of 2015. The slight increase is based on a lower interest income as a result of the repayment of interest bearing notes receivables.

Income tax expense was $138 million for the first quarter of 2016, which translates into an effective tax rate of 31.8%, substantially lower than in Q1 2015 (34.3%). This was primarily driven by increased tax-free income attributable to noncontrolling interest in the US and lower tax rates in other jurisdictions.

Cash flow

In the first quarter of 2016, the company generated $180 million in net cash provided by operating activities, representing 4% of revenue, compared to $447 million in last year’s Q1. The lower level was driven by an adjustment in invoicing within the quarter and the timing of cash payroll payments in the US. The number for DSO (days sales outstanding) increased accordingly to 74 days (71 days in Q1 2015). These timing effects will have no meaningful impact on the full year 2016.

Employees

As of March 31, 2016, Fresenius Medical Care had 104,687 employees (full-time equivalents) worldwide, compared to 101,543 employees at the end of March 2015. This increase was mainly attributable to our continued organic growth. 

Outlook 2016 confirmed

Based on the positive Q1 business development, Fresenius Medical Care confirms its full year outlook 2016. The company expects a currency-adjusted revenue growth between +7% and +10% for 2016. Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA is expected to increase by +15% to +20% over the previous year.

Conference call

Fresenius Medical Care will hold a conference call to discuss the results of the first quarter 2016 on Tuesday, May 3, 2016 at 3.30 p.m. CEDT/ 9.30 a.m. EDT. The company invites investors to follow the live webcast of the call at the company’s website www.freseniusmedicalcare.com in the “Investors/Events” section. A replay will be available shortly after the call.

Please refer to the attachments for a complete overview of the results for the first quarter of 2016.

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T: +49 (0) 6172 608-2101
GAPP@fresenius.com

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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.

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T +49 (0) 6172 608-96008
pr-fre@fresenius.com

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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.

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T +49 (0) 6172 608-96008
pr-fre@fresenius.com

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• Targets for 2015 achieved: revenue + 11% (constant currency), net income^1,2 +2%
• 3% dividend increase to be proposed at the Annual General Meeting
• Excellent organic growth and positive operating earnings development in North America
• Strong organic growth dynamic in Care Coordination activities, still in investment mode
• International performance furthermore impacted by currency fluctuations
• Result pushed by Global Efficiency Program and lower costs for healthcare supplies
• 2016 outlook in line with projection: Net revenue +7-10% (constant currency), Net income +15-20%

 
Fourth quarter 2015 key figures:

Net revenue: $4,348 million, +1% / +5%cc
Operating income (EBIT): $662 million, 0%
Operating income (EBIT) excluding special items²: $704 million, +5%
Net income¹: $317 million, -6%
Net income excluding special items^1,2: $347 million, +2%
Basic earnings per share: $1.04, -6%

Full year 2015 key figures:

Net revenue: $16,738 million, +6% / +11%cc
Operating income (EBIT): $2,327 million, +3%
Operating income (EBIT) excluding special items²: $2,388 million, +5%
Net income¹: $1,029 million, -2%
Net income excluding special items^1,2: $1,082 million, +2%
Basic earnings per share: $3.38, -2%

Dividend proposal:

Per share €0.80 +3%

cc = at constant currency rates
¹ excluding special items: divestiture of dialysis business in Venezuela, sale of the European marketing rights to Vifor and settlement costs for an agreement in principle for the GranuFlo® case in 2015 as well as closing of manufacturing plants in 2014
² attributable to shareholders of Fresenius Medical Care AG & Co. KGaA

Rice Powell, Chief Executive Officer of Fresenius Medical Care stated: “Our commitment to our patients continues to produce substantial results. After investing heavily in new business activities, 2015 was a year that focused on operational excellence. Strong market dynamics in our core dialysis markets had been supported by new operating profitability levels. In 2016 we even want to accelerate the value creation for all our shareholders. We delivered on revenue, net income guidance for 2015 and confirm our targets for 2016: strong revenue growth combined with even higher net income growth.”

Fourth quarter 2015

Revenue

Net revenue for the fourth quarter of 2015 increased slightly by 1% to $4,348 million (+5% at constant currency) as compared to the fourth quarter of 2014. Organic revenue growth was 5%. Net Health Care revenue grew by 4% to $3,462 million (+7% at constant currency). The organic growth rate was 6%. After a very strong first half in the product business, the dialysis product revenue was down by 11% to $886 million. The company generated more than 70% of the product business in the three International segments which implied a strong currency headwind. On a constant currency basis, dialysis product revenue decreased by 2%.

North America revenue for the fourth quarter of 2015 increased by 7% to $3,084 million. Organic revenue growth was 5%. Net Health Care revenue contributed $2,845 million (+8% on a year on year basis), the product business $239 million (+1% on a year on year basis). The Care Coordination business recorded revenue of $501 million – corresponding to a significant growth of 27% over the previous years fourth quarter. Organic revenue growth was 23%.

International revenue decreased by 12% to $1,257 million (an increase of 2% on a constant currency basis), clearly negatively impacted by currency translation. Organic revenue growth was 3%. Net Health Care revenue was $617 million (-10%, +5% at constant currency). Dialysis product revenue decreased by 13% to $640 million (-1% at constant currency).

International segments:
Europe, Middle East and Africa (EMEA) revenue decreased by 12% to $673 million. Constant currency and organic revenue growth was 1%. Net Health Care revenue decreased by 11% to $306 million (+4% at constant currency). Dialysis product revenue decreased by 13% to $367 million (-1% at constant currency and stable on an organic perspective).

Asia-Pacific revenue decreased by 6% to $394 million (+1% at constant currency). Net Health Care revenue amounted to $171 million (+3% at constant currency), dialysis product revenue decreased to $223 million (stable level at constant currency rates).

Latin America revenue decreased by 20% to $ 190 million. At constant currency revenue grew by 3%. Organic revenue growth was 15%. Net Health Care revenue decreased by 14% to $140 million (+9% at constant currency). With a plus of 27% organic growth was very strong. Dialysis product revenue decreased by 33% to $50 million (a decrease of 9% at constant currency).

Earnings

Operating income (EBIT) was $662 million, stable compared to last year. The sale of remaining European marketing rights to a Joint Venture was recognized in the fourth quarter resulting in an additional gain of $18 million. The company also reached an agreement in principle to resolve a product liability litigation in the United States involving GranuFlo®/NaturaLyte®. This caused a pre-tax charge of $60 million. Excluding both special items operating income increased 5% from $669 million to $704 million.

Operating income for North America for the fourth quarter of 2015 was $514 million, an increase of 4% as compared to the corresponding quarter in 2014. Excluding the $60 million settlement costs for the GranuFlo®/NaturaLyte® case the operating income was $574 million, a strong increase of 16%.

International segments:
Operating income for EMEA for the fourth quarter of 2015 increased by 20% to $172 million as compared to the same quarter 2014. Operating income, excluding the $ 18 million gain resulting from the sale of the European marketing rights, was $154 million, reflecting an increase of 8%. Operating income for Asia-Pacific was $79 million, a sequential improvement of $11 million and a decrease of 21% on a year on year basis. Operating income for Latin America for the fourth quarter of 2015 was $23 million (Q4 2014: $35 million).

The corporate costs were up at $ 126 million compared to $108 million in Q4 2014.

Net interest expense for the reported quarter was with $88 million clearly below Q4 of last year (-25%) due to higher interest income resulting from the early repayment of interest-bearing notes receivables and due to a decreased average debt level.

Income tax expense was $180 million for Q4 2015, which translates into an effective tax rate of 31.4%. This compares to income tax expense of $143 million and a tax rate of 26.2%, which was influenced favorably by the resolution of challenged deductions for the civil payments taken in prior years.

Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA for the fourth quarter of 2015 was $317 million compared to $335 million in the fourth quarter of 2014. Excluding special items net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA was $347 million – this means an increase by 2%. Net income attributable to noncontrolling interest increased to $77 million ($68 million in Q4 2014).

Basic earnings per share (EPS) for the fourth quarter of 2015 was $1.04, compared to $1.11 for the corresponding period in 2014. The weighted average number of shares outstanding for Q4 2015 was approximately 305.1 million shares, compared to approximately 303.3 million shares.

Cash flow

In the fourth quarter of 2015, the company generated $548 million, representing approximately 13% of revenue, in net cash provided by operating activities, compared to the corresponding figure of last year of $588 million.

A total of $299 million was spent for capital expenditures, net of disposals. Free cash flow was $249 million compared to $306 million in the comparable quarter of 2014.

A total of $151 million in cash was spent for acquisitions and investments. Divestitures driven by the early repayment of interest bearing notes receivables were $209 million. Free cash flow after investing activities was $307 million as compared to -$419 million in Q4 2014

Full year 2015

Revenue and earnings

Net revenue for full year 2015 increased by 6% to $16,738 million (+11% at constant currency) as compared to fiscal 2014. Organic revenue growth worldwide was 6%.

Operating income (EBIT) for the full year 2015 increased by 3% to $2,327 million. Excluding special items operating income grew by 5% and reached $2,388 million as compared to $2,271 million for fiscal 2014.

Net interest expense for fiscal 2015 was $391 million as compared to $411 million for the corresponding period in 2014.

Income tax expense for full year 2015 was $623 million, which translates into an effective tax rate of 32.1%. This compares to income tax expense of $584 million and a tax rate of 31.7% for 2014.

For full year 2015, net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA was $1,029 million compared to $ 1,045 million in 2014. Excluding special items net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA increased to $1,082 million, plus 2% compared with the comparable number of $1,058 million for fiscal 2014.

For fiscal year 2015, basic earnings per share (EPS) was down at $3.38 as compared to the corresponding number for full year 2014 ($3.46). The weighted average number of shares outstanding for 12 months of 2015 was approximately 304.4 million shares (full year 2014: 302.3 million).

Cash flow

In the reported period 2015, the company generated $1,960 million in net cash provided by operating activities, representing 11.7% of revenue, as compared to $1,861 million for the same period in 2014.

A total of $935 million was spent for capital expenditures, net of disposals. Free cash flow was $1,025 million as compared to $941 million in 2014, a strong increase of roughly 9% on a year on year basis.

A total of $66 million in cash was spent for acquisitions and investments, net of divestitures. Free cash flow after investing activities was $959 million as compared to ($829) million for the twelve months of 2014.

Employees

As of December 31, 2015, Fresenius Medical Care had 104,033 employees (full-time equivalents) worldwide, compared to 99,895 employees at the end of 2014. This increase of 4% was mainly attributable to our continued organic growth and acquisitions.

Balance sheet structure

The company´s total assets were slightly above last years level and amounted to $25,533 million (Dec. 31, 2014: $25,381 million). Current assets increased by 4% to $6,984 million (Dec. 31, 2014: $6,718 million). Goodwill and intangible assets as well as non-current assets remained stable with $13,863 million (Dec. 31, 2014: 13,951 million) and $4,686 million (Dec. 31, 2014: 4,712 million) respectively. Total equity increased by 5% to $10,496 million (Dec. 31, 2014: $10,028 million). The equity ratio was 41% as compared to 40% at the end of 2014. Total debt was $8,646 million (Dec. 31, 2014: $9,466 million).

Please refer to the attachments for a complete overview of the results for the fourth quarter and full year 2015.

Dividend

At the Annual General Meeting to be held on May 12, 2016, shareholders will be asked to approve a dividend of €0.80 per share, an increase of 3% compared to 2014 (€0.78). This would mean the 19th consecutive dividend increase, shareholders can expect.

Outlook 2016

Based on the projection Fresenius Medical Care provided for 2016, the company is guiding for revenue to grow 7-10% at constant currency excluding acquisitions in 2015 and 2016. Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA is expected to increase by 15-20% in 2016 excluding acquisitions in 2015 and 2016, based on net income for 2015 of US$ 1,057 million (net income excluding settlement costs for an agreement in principle for the GranuFlo®/NaturaLyte® case of -$37 million and +$9 million acquisitions).

The company expects to spend capital expenditures of $1.0 - $1.1 billion and around $750 million on acquisitions. The debt/EBITDA ratio is expected to be below 3.0 by the end of 2016.

Conference call

Fresenius Medical Care will hold a press conference at its headquarters in Bad Homburg, Germany to discuss the results of the fourth quarter and full year 2015 on Wednesday, February 24, 2016, at 10 am CET. The company cordially invites journalists to view the live video webcast at the company's website www.freseniusmedicalcare.com in the section "Investors/Events & Presentations". A replay will be available shortly after the meeting.

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pr-fre@fresenius.com

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Fresenius Medical Care AG & Co. KGaA (“the company” or “Fresenius Medical Care”), the world’s largest provider of dialysis products and services, today announced that Fresenius Medical Care North America (FMCNA) has reached an agreement in principle with a committee designated by the plaintiffs to resolve litigation in the United States involving GranuFlo®/NaturaLyte®.

Under the agreement in principle, the settlement amount would be $250 million, provided that 97% of all plaintiffs agree to the settlement by July 2016 with the funding provided in August 2016. Insurers will fund the settlement amount with $220 million.

Therefore, the company expects a pre-tax charge of $60 million from the settlement and other costs to finalize this matter. This impact for the company will be reflected in its 2015 numbers to be published on February 24, 2016.

For 2015 the company expects to report revenues of approximately $16.7 billion. Excluding the charge net of tax, the 2015 net income attributable to shareholders should increase by approximately 2% over the prior year period. On that basis the company expects to be in line with its financial guidance for 2015.

The company’s GranuFlo®/NaturaLyte® product at issue in the litigation remains on the market and continues to be the market leader for dialysis acid concentrates in the United States. There has been no change in the composition of the product and it remains safe and effective when used and prescribed as directed.

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Fresenius Medical Care AG & Co. KGaA (“the company” or “Fresenius Medical Care”), the world’s largest provider of dialysis products and services, today announced a change in the Management Board.

After being with the company for more than 20 years Roberto Fusté (64), the Management Board member responsible for the region Asia-Pacific, has decided to resign from his operational responsibilities and Management Board position effective March 31, 2016. The company will continue to benefit from Mr. Fuste’s experience as he will continue to support the CEO Rice Powell as an Executive Advisor for regional strategy up until 2018. Effective April 1, 2016 Mr. Harry de Wit (53) will succeed Mr. Fusté as the CEO and Management Board member for the region and he will also be located in Hong Kong.

Mr. Fusté began his career with the Fresenius dialysis business segment in April 1995 and after several very successful years with increasing responsibilities in the areas of sales and marketing in the European dialysis business, he was appointed to the Management Board of Fresenius Medical Care in January 1999. Under the leadership of Mr. Fusté the Asia-Pacific region has grown from annual revenue of around 130 million US-Dollars in 1999 to over 1.4 billion US-Dollars in annualized revenue today. “It has been an honor serving at the Company’s Management Board during all these years. Every moment has been extremely rewarding and I want to thank our team in Asia for delivering such an outstanding growth and leadership position over time by focusing on our patients, quality and personal commitment” said Mr. Fusté.

Mr. de Wit has worked in various areas in the medical device industry for over 25 years. Since 2010 Mr. de Wit served as President Asia at Covidien (now Medtronic) in Singapore. Harry chose to leave Covidien after the acquisition by Medtronic. Mr. de Wit holds a Master’s degree in Medicine from the VU University of Amsterdam, the Netherlands and a Bachelor’s of Science in Physiotherapy from the School of Physiotherapy of Den Bosch, Netherlands. “I am pleased to join Fresenius Medical Care, the world's leading provider of dialysis products and services in such a dynamic region and I am looking forward to work with the existing management team and help to execute on the strategy which creates incredible opportunities” said Mr. de Wit.

"We are delighted to have Harry join our company, as he has a proven track record of successful management in varying geographies and functions. Harry has the ability to drive innovation and deliver growth, with a focus on developing talent. Harry is well prepared to further strengthen our position in the Asia-Pacific region and add to the legacy and foundation built by Roberto Fusté, whom I would like to sincerely thank for his dedication and leadership" Rice Powell, CEO Fresenius Medical Care commented.

Ulf Mark Schneider, Chairman of the Supervisory Board of Fresenius Medical Care Management AG, commented: "Roberto Fusté has made significant contributions to Fresenius Medical Care in successfully building the company`s Asia-Pacific region over a period of 18 years. Today, this region is one of the key growth drivers. On behalf of the Supervisory Board, I would like to thank Roberto for his dedication, perseverance and outstanding results. At the same time, I would like to welcome Harry de Wit to his new role at Fresenius Medical Care. I am convinced that the Asia-Pacific region will continue to thrive under his leadership".

Fresenius Medical Care has opened its China Design Center, in Caohejing Hi-Tech Park in Shanghai. The new facility represents a ramping-up of research and development activities outside of Europe and the United States, and underscores Fresenius Medical Care’s commitment to making its world-leading dialysis treatments and technologies more widely available to patients in China and other emerging markets. In addition to developing a deeper insight into the needs of these markets, the company aims to provide even more innovative and cost-effective solutions for treating kidney disease.