Contact

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

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• Strong organic growth and very positive earnings development in North America
• Strong growth dynamic in Care Coordination activities
• International performance furthermore impacted by currency fluctuations
• EBIT and net income influenced by one-time items

Third quarter 2015 key figures

Net revenue: $4,231 million, +3%
Operating income (EBIT): $614 million, +4%
Operating income (EBIT) excluding one-time items: $632 million, +5%
Net income¹: $262 million, -3%
Net income excluding one-time items¹: $284 million +2%
Basic earnings per share: $0.86, -4%

First nine months 2015 key figures

Net revenue: $12,390 million, +8%
Operating income (EBIT): $1,665 million, +5%
Operating income (EBIT) excluding one-time items: $1,683 million, +5%
Net income¹: $713 million, 0%
Net income excluding one-time items¹: $735 million +3%
Basic earnings per share: $2.34, 0%

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

Rice Powell, chief executive officer of Fresenius Medical Care stated: “With the dynamic growth in our Care Coordination business and our continued strong operating performance in our core businesses, we are well positioned for future success. We are very satisfied with our accomplishments in the third quarter despite the unfavorable currency impacts. We confirm our outlook for the full year 2015 and remain focused to further strengthen our business to deliver high quality care for our patients.”

Third quarter 2015

Revenue

Net revenue for the third quarter of 2015 increased by 3% to $4,231 million (+9% at constant currency) as compared to the third quarter of 2014. Organic revenue growth worldwide was 6%. Net Health Care revenue grew by 6% to $3,402 million (+10% at constant currency). After two very strong quarters in the product business, we are closer to a normalized organic revenue level. Dialysis product revenue was down by 9% to $829 million as compared to the third quarter of 2014 mainly due to a negative currency impact in the three International segments. On a constant currency basis, the dialysis product revenue increased by 2%.

North America revenue for the third quarter of 2015 increased by 11% to $3,013 million. Organic revenue growth was 6%. Net Health Care revenue grew by 12% to $2,794 million with a same market treatment growth of 5%. Net Dialysis Care revenue increased by 6% to $2,314 million and Care Coordination revenue increased by 56% to $480 million (organic growth of 17%). Dialysis product revenue increased by 3% to $219 million as compared to the third quarter of 2014.

International revenue decreased by 12% to $1,213 million (an increase of 5% on a constant currency basis). Organic revenue growth was 6%. While the underlying organic revenue developed positively, the currency translation resulted in a negative impact. Net Health Care revenue decreased by 13% to $608 million (+6% at constant currency). Dialysis product revenue decreased by 12% to $605 million (+3% at constant currency).

International segments:
Europe, Middle East and Africa (EMEA) revenue decreased by 16% to $659 million (+2% at constant currency). Organic revenue growth was 2%. Net Health Care revenue decreased by 16% to $309 million (+3% at constant currency). Dialysis product revenue decreased by 16% to $350 million (stable at constant currency).

Asia-Pacific revenue decreased by 2% to $378 million (+9% at constant currency). Organic revenue growth was 10%. Net Health Care revenue decreased by 9% to $168 million (+4% at constant currency). Dialysis product revenue increased by 3% to $210 million (+13% at constant currency).

Latin America revenue decreased by 18% to $176 million (+7% at constant currency). Organic revenue growth was 13%. Net Health Care revenue decreased by 12% to $131 million (+12% at constant currency). Dialysis product revenue decreased by 33% to $44 million (a decrease of 6% at constant currency). The regional performance was impacted by the divestiture of our dialysis service business in Venezuela.

Earnings

Operating income (EBIT) increased by 4% from $590 million in the third quarter of 2014 to $614 million in the third quarter of 2015. Operating income, excluding one-time items, increased by 5% from $601 million to $632 million; adjusted for: a negative impact ($26 million) from the divestiture of the dialysis service business in Venezuela, a negative impact due to the closing of a manufacturing plant in the third quarter of 2014 ($11 million) and a positive impact of $8 million from the sale of our European marketing rights for certain renal pharmaceuticals to our joint venture Vifor Fresenius Medical Care Renal Pharma. The sale of remaining marketing rights is being recognized as they are transferred at the country level. Therefore, we anticipate additional gains will be realized in the fourth quarter of 2015.

Operating income for North America for the third quarter of 2015 was $515 million, an increase of 25% as compared to the third quarter of 2014.

International segments:
Operating income for EMEA for the third quarter of 2015 was $130 million, a decrease of 14% as compared to the third quarter of 2014. Operating income, excluding one-time items, was $122 million. Operating income for Asia-Pacific for the third quarter of 2015 was $68 million, a decrease of 25% as compared to the third quarter of 2014. Operating income for Latin America for the third quarter of 2015 was ($8 million). Operating income, excluding one-time items, was $18 million.

Net interest expense for the third quarter of 2015 was with $100 million at the same level as compared to the third quarter of 2014.

Income tax expense was $168 million for the third quarter of 2015, which translates into an effective tax rate of 32.8%. This compares to income tax expense of $162 million and a tax rate of 32.9% for the third quarter of 2014.

Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA for the third quarter of 2015 was $262 million, a decrease of 3% compared to $271 million for the third quarter of 2014. Net income attributable to noncontrolling interest increased to $84 million ($58 million in the third quarter of 2014) due to the strong earnings development in North America. Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA for the third quarter of 2015, excluding one-time items, increased by 2% to $284 million.

Basic earnings per share (EPS) for the third quarter of 2015 was $0.86, a decrease of 4% compared to the corresponding number for the third quarter of 2014. The weighted average number of shares outstanding for the third quarter of 2015 was approximately 304.7 million shares, compared to approximately 302.7 million shares for the third quarter of 2014. The increase in shares outstanding resulted from stock option exercises during the last twelve months.

Cash flow

In the third quarter of 2015, the company generated $579 million, representing roughly 14% of revenue, in net cash provided by operating activities, compared to the corresponding figure of last year of $712 million.

A total of $224 million was spent for capital expenditures, net of disposals. Free cash flow was $355 million compared to $488 million in the third quarter of 2014.

A total of $57 million in cash was spent for acquisitions and investments, net of divestitures. Free cash flow after investing activities was $298 million as compared to ($125) million in the third quarter of 2014.

First nine months 2015

Revenue and earnings

Net revenue for the first nine months of 2015 increased by 8% to $12,390 million (+13% at constant currency) as compared to the first nine months of 2014. Organic revenue growth worldwide was 7%.

Operating income (EBIT) for the first nine months of 2015 was $1,665 million as compared to $1,591 million in the first nine months of 2014. This represents an increase of 5%. Operating income, excluding one-time items, increased by 5% to $1,683 million.

Net interest expense for the first nine months of 2015 was $304 million as compared to $294 million in the first nine months of 2014.

Income tax expense for the first nine months of 2015 was $441 million, which translates into an effective tax rate of 32.4%. This compares to income tax expense of $440 million and a tax rate of 33.9% for the first nine months of 2014. For the full year, the company expects the tax rate to be on the lower end of its guidance range of 33 to 34%.

For the first nine months of 2015, net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA was stable at $713 million ($710 million in the same period in the previous year). Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA excluding one-time items for the first nine months of 2015 increased by 3% to $735 million.

In the first nine months of 2015, basic earnings per share (EPS) remained stable with $2.34 as compared to the corresponding number for the first nine months of 2014 ($2.35). The weighted average number of shares outstanding during the first nine months of 2015 was approximately 304.2 million shares.

Cash flow

In the first nine months of 2015, the company generated $1,412 million in net cash provided by operating activities, representing 11.4% of revenue, as compared to $1,274 million for the same period in 2014.

A total of $636 million was spent for capital expenditures, net of disposals. Free cash flow for the first nine months of 2015 was $776 million as compared to $635 million in the first nine months of 2014.

A total of $124 million in cash was spent for acquisitions and investments, net of divestitures. Free cash flow after investing activities was $652 million as compared to ($410) million in the first nine months of 2014.

Employees

As of September 30, 2015, Fresenius Medical Care had 102,591 employees (full-time equivalents) worldwide, compared to 97,327 employees at the end of September 2014. This increase was mainly attributable to acquisitions as well as to our continued organic growth.

Balance sheet structure

The company´s total assets were stable at $25,414 million (Dec. 31, 2014: $25,447 million). Current assets were comparable at $6,760 million (Dec. 31, 2014: $6,725 million). Non-current assets were slightly down at $18,654 million (Dec. 31, 2014: $18,722 million). Total equity increased by 2% to $10,243 million (Dec. 31, 2014: $10,028 million). The equity ratio was 40% as compared to 39% at the end of 2014. Total debt was $9,093 million (Dec. 31, 2014: $9,532 million). As of September 30, 2015, the debt/EBITDA ratio was 2.9 (Dec. 31, 2014: 3.1).

Please refer to the attachments for a complete overview of the results for the third quarter and first nine months of 2015.

Outlook¹ confirmed

For the 2015 outlook the company expects revenue to grow at 5-7%, which at constant currency is a growth rate of 10-12%. Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA is expected to increase by 0-5% in 2015.

The company expects to spend around $1.0 billion on capital expenditures and around $300 million on acquisitions in 2015. The debt/EBITDA ratio is expected to be around 3.0 by the end of 2015.

In addition we confirm our 2016 projections. We expect revenue to increase around 7-10% (at constant currency) and net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA to grow by 15-20%.

We expect the progress in our business to be consistent with our long-term targets.

¹The outlook/projection provided for 2015/2016 is based on current exchange rates. Savings from the global efficiency program are included, while potential acquisitions are not. In addition the outlook reflects further operating cost investments within the Care Coordination business for future growth in line with our 2020 strategy.

Conference call

Fresenius Medical Care will hold a conference call to discuss the results of the third quarter 2015 on Thursday, October 29, 2015 at 3.30 p.m. CET/ 10.30 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 & Presentations” section. A replay will be available shortly after the call.

Contact

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

Documents

Text as PDF document (PDF, 60 KB)

- First quarter performance fully on track to achieve full year guidance
- Strong revenue and earnings growth
- Strong cash flow generation

First quarter 2015 key figures:

Net revenue: $3,960 million, +11%
Operating income (EBIT): $504 million, +13%
Net income*: $210 million, +2%
Basic earnings per share: $0.69, +1%

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

Rice Powell, chief executive officer of Fresenius Medical Care stated: “Our first quarter 2015 results show a positive start into the year. We are pleased with our revenue and earnings growth. We have made good progress on our Care Coordination business and will make operating cost investments in this area in 2015 for future growth. Our performance is in line with our full year guidance for 2015 and we are on track to achieve our long-term targets”.

First quarter 2015

Revenue

Net revenue for the first quarter of 2015 increased by 11% to $3,960 million (+17% at constant currency) as compared to the first quarter of 2014. Organic revenue growth worldwide was 7%. Net Health Care revenue grew by 14% to $3,182 million (+18% at constant currency). The dialysis product revenue of $778 million remained on a similar level as compared to the first quarter of 2014 solely due to negative currency developments. On a constant currency basis the dialysis product revenue increased by +11%.

North America revenue for the first quarter of 2015 increased by 16% to $2,771 million. Organic revenue growth was 6%. Net Health Care revenue grew by 17% to $2,571 million with a same market treatment growth of 4%. Net Dialysis Care revenue increased by 4% to $2,137 million while the Care Coordination revenue increased by 191% to $434 million (organic growth of 39%). Dialysis product revenue increased by 4% to $200 million as compared to the first quarter of 2014.

International revenue increased by 2% to $1,180 million. On a constant currency basis revenue increased 18%. Organic revenue growth was 10%. Net Health Care revenue increased by 5% to $611 million (+24% at constant currency). Dialysis product revenue decreased by 2% to $569 million (+13% at constant currency).

Earnings

Operating income (EBIT) increased by 13% from $445 million in the first quarter of 2014 to $504 million in the first quarter of 2015. Delivered EBIT (operating income less noncontrolling interests)* increased 12% to $450 million.

Operating income for North America for the first quarter of 2015 was $340 million, an increase of 1% as compared to the first quarter of 2014. Delivered EBIT decreased 3% to $288 million.

In the International segment, operating income for the first quarter of 2015 increased by 35% to $244 million as compared to $180 million in the first quarter of 2014.

Net interest expense for the first quarter of 2015 was $102 million as compared to $96 million in the first quarter of 2014 which mainly reflects the financing costs of the acquisitions made in the second half of 2014.

Income tax expense was $138 million for the first quarter of 2015, which translates into an effective tax rate of 34.3%. This compares to income tax expense of $102 million and a tax rate of 29.1% for the first quarter of 2014. Adjusted for the positive impact of a German tax audit the tax rate would have been 33.6% in the first quarter of 2014.

Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA for the first quarter of 2015 was $210 million, an increase of 2% compared to $205 million for the first quarter of 2014.

Basic earnings per share (EPS) for the first quarter of 2015 was $0.69, an increase of 1% compared to the corresponding number for the first quarter of 2014. The weighted average number of shares outstanding for the first quarter of 2015 was approximately 303.7 million shares, compared to approximately 301.5 million shares for the first quarter of 2014. The increase in shares outstanding resulted from stock option exercises during the first quarter of 2015.

* Approximates the operating income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA.

Cash flow

In the first quarter of 2015, the company generated $447 million in net cash provided by operating activities, representing 11% of revenue, compared to the corresponding figure of last year ($112 million).

A total of $197 million was spent for capital expenditures, net of disposals. Free cash flow was $250 million compared to a negative $85 million in the first quarter of 2014.

A total of $11 million in cash was spent for acquisitions, net of divestitures. Free cash flow after investing activities was $239 million as compared to a negative $220 million in the first quarter of 2014.

Employees

As of March 31, 2015, Fresenius Medical Care had 101,543 employees (full-time equivalents) worldwide, compared to 91,542 employees at the end of March 2014. This increase of ~10,000 employees was mainly attributable to acquisitions as well as our continued organic growth.

Balance sheet structure

The company´s total assets were $25,107 million (Dec. 31, 2014: $25,447 million), a decrease of 1%. Current assets decreased by 2% to $6,599 million (Dec. 31, 2014: $6,725 million). Non-current assets were $18,508 million (Dec. 31, 2014: $18,722 million), a decrease of 1%. Total equity increased by 1% to $10,139 million (Dec. 31, 2014: $10,028 million). The equity ratio was 40% as compared to 39% at the end of 2014. Total debt was $9,052 million (Dec. 31, 2014: $9,532 million). As of March 31, 2015, the debt/EBITDA ratio was 2.9 (Dec. 31, 2014: 3.1).

Please refer to the attachments for a complete overview on the first quarter of 2015.

Outlook* confirmed

For the 2015 outlook the company expects revenue to grow at 5-7%, which at constant currency is a growth rate of 10-12%. Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA is expected to increase by 0-5% in 2015.

The company expects to spend around $1.0 billion on capital expenditures and around $400 million on acquisitions in 2015. The debt/EBITDA ratio is expected to be around 3.0 by the end of 2015.

For the 2016 projections we expect revenue to increase 9-12% and net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA to grow by 15-20%.

As disclosed in the company’s long-term target for 2020, the company expects revenue to grow at an average annual growth rate of approx. 10% and net income attributable to shareholders in the high single digits.

* The original outlook/projection provided for 2015/2016 is based on exchange rates prevailing at the beginning of 2015. Savings from the global efficiency program are included, while potential acquisitions are not. In addition the outlook reflects further operating cost investments within the Care Coordination business for future growth in line with our 2020 strategy.

Conference call

Fresenius Medical Care will hold a conference call to discuss the results of the first quarter 2015 on Thursday, April 30, 2015 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.

Fresenius Medical Care has released a new single-use adsorber for the treatment of IgE (ImmunoglobulinE)-mediated diseases in the European market.

Latest epidemiological data shows that IgE-mediated diseases affect more than 25 percent of the world’s population. Of this group, an estimated 10 percent suffer from severe allergic symptoms such as asthma and atopic dermatitis. The new adsorber, called IgEnio®, is intended to provide a therapy option for these patients.

IgEnio® complements the growing portfolio of Fresenius Medical Care’s Therapeutic Apheresis business, which already offers adsorbers targeting the reduction of ImmunoglobulinG (a therapy for autoimmune diseases) and the removal of other, specific pathogens.

IgEnio® was developed on the basis of Fresenius Medical Care’s longstanding expertise in extracorporeal treatments, and represents a further step in the strategic expansion of this important therapy field. IgEnio® was co-developed with Biomay AG, a global leader in allergy immunotherapy products, based in Vienna.

The clinical results of IgEnio® were presented for the first time at a scientific congress in Barcelona in June. IgEnio® will be introduced in selected markets – France, Germany, Italy, Spain and the United Kingdom – in the course of 2015. Fresenius Medical Care will continue the rollout within its Europe, Middle East and Africa region.

The IgE synthesis pathway and the IgE-mediated allergic/inflammatory pathway are important targets in intervening in the pathological processes of allergy. IgEnio® is a single-use, single-pass adsorber that selectively decreases IgE levels in the plasma. The first clinical trial of IgEnio®, called ESPIRA, included patients with severe allergic asthma not sufficiently controlled by inhaled steroids and other medications. These patients, who have high IgE levels in their plasma, currently have very limited treatment options.

The primary end point of the ESPIRA study was to reduce IgE levels by more than 50 percent over the treatment period and to demonstrate safe application in clinical practice. Within the study, patients underwent nine apheresis treatments with IgEnio®, with each treatment lasting for approximately four hours. As a result of the treatments, a highly significant reduction of more than 80 percent in plasma IgE was observed (p<0.001). For highly allergic patients in the ESPIRA study setting, lgEnio® was safe and well tolerated.

To strengthen the scientific evidence base and to create more clinical expertise, Fresenius Medical Care will conduct further clinical investigations in the coming years.

Contact

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

Documents

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• Second quarter performance on track to achieve full year guidance for 2015
• Strong year to date revenue and earnings growth
• International performance mainly masked by currencies in the second quarter
• Strong year to date cash flow generation

Second quarter 2015 key figures:

Net revenue: $4,199 million, +9%
Operating income (EBIT): $547 million, -2%
Net income*: $241 million, +3%
Basic earnings per share: $0.79, +2%

First half 2015 key figures:

Net revenue: $8,159 million, +10%
Operating income (EBIT): $1,051 million, +5%
Net income*: $450 million, +3%
Basic earnings per share: $1.48, +2%

_{*attributable to shareholders of Fresenius Medical Care AG & Co. KGaA}

Rice Powell, chief executive officer of Fresenius Medical Care stated: “Our second quarter 2015 results showed a positive underlying performance. We are pleased with our revenue and earnings growth considering the negative currency impact on our International operations in the second quarter. We have made further progress with the integration of our Care Coordination operations. Our performance is in line with our full year guidance for 2015 and we are confident to achieve our long-term targets for 2020.”

Second quarter 2015

Revenue

Net revenue for the second quarter of 2015 increased by 9% to $4,199 million (+15% at constant currency) as compared to the second quarter of 2014. Organic revenue growth worldwide was 8%. Net Health Care revenue grew by 13% to $3,345 million (+18% at constant currency). The dialysis product revenue decreased by 4% to $854 million as compared to the second quarter of 2014 mainly due to negative currency developments in the International product business. On a constant currency basis the dialysis product revenue increased by 8%.

North America revenue for the second quarter of 2015 increased by 17% to $2,946 million. Organic revenue growth was 7%. Net Health Care revenue grew by 17% to $2,722 million with a same market treatment growth of 4%. Net Dialysis Care revenue increased by 6% to $2,254 million while the Care Coordination revenue increased by 149% to $468 million (organic growth of 24%). Dialysis product revenue increased by 9% to $224 million as compared to the second quarter of 2014.

International revenue decreased by 4% to $1,247 million. On a constant currency basis revenue increased by 14%. Organic revenue growth was 9%. Net Health Care revenue decreased by 1% to $623 million (+18% at constant currency). Dialysis product revenue decreased by 6% to $624 million (+10% at constant currency).

International segments:

Europe, Middle East and Africa (EMEA) revenue decreased by 15% to $668 million (+4% at constant currency). Organic revenue growth was 5%. Net Health Care revenue decreased by 17% to $309 million (+3% at constant currency). Dialysis product revenue decreased by 14% to $359 million (+5% at constant currency).

Asia-Pacific revenue increased by 22% to $376 million (+32% at constant currency). Organic revenue growth was 12%. Net Health Care revenue increased by 37% to $164 million (+55% at constant currency). Dialysis product revenue increased by 12% to $212 million (+18% at constant currency).

Latin America revenue increased by 2% to $203 million (+22% at constant currency). Organic revenue growth was 19%. Net Health Care revenue increased by 6% to $150 million (+25% at constant currency). Dialysis product revenue decreased by 8% to $53 million (+15% at constant currency).

Earnings

Operating income (EBIT) decreased by 2% from $556 million in the second quarter of 2014 to $547 million in the second quarter of 2015.

Operating income for North America for the second quarter of 2015 was $428 million, an increase of 7% as compared to the second quarter of 2014.

In the International segments, operating income for the second quarter of 2015 decreased by 11% to $217 million as compared to $243 million in the second quarter of 2014.

International segments: Operating income for EMEA for the second quarter of 2015 was $134 million, a decrease of 20% as compared to the second quarter of 2014. Operating income for Asia-Pacific for the second quarter of 2015 was $67 million, an increase of 22% as compared to the second quarter of 2014. Operating income for Latin America for the second quarter of 2015 was $16 million, a decrease of 20% as compared to the second quarter of 2014.

Net interest expense for the second quarter of 2015 was $102 million as compared to $98 million in the second quarter of 2014 which mainly reflects the financing costs of the acquisitions made in the second half of 2014.

Income tax expense was $135 million for the second quarter of 2015, which translates into an effective tax rate of 30.4%. On an adjusted basis the tax rate for the second quarter of 2014 was 34.8%*.

_{*The tax rate in the second quarter of 2014 was influenced by a special tax impact which resulted in an expense of $18 million.}

Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA for the second quarter of 2015 was $241 million, an increase of 3% compared to $234 million for the second quarter of 2014 and in line with our full year guidance for 2015.

Basic earnings per share (EPS) for the second quarter of 2015 was $0.79, an increase of 2% compared to the corresponding number for the second quarter of 2014. The weighted average number of shares outstanding for the second quarter of 2015 was approximately 304.2 million shares, compared to approximately 301.8 million shares for the second quarter of 2014. The increase in shares outstanding resulted from stock option exercises during the second quarter of 2015.

Cash flow

In the second quarter of 2015, the company generated $385 million, representing 9.2% of revenue, in net cash provided by operating activities, compared to the corresponding figure of last year of $449 million.

A total of $214 million was spent for capital expenditures, net of disposals. Free cash flow was $171 million compared to $231 million in the second quarter of 2014.

A total of $55 million in cash was spent for acquisitions, net of divestitures. Free cash flow after investing activities was $116 million as compared to ($66) million in the second quarter of 2014.

First half 2015

Revenue and earnings

Net revenue for the first half of 2015 increased by 10% to $8,159 million (+16% at constant currency) as compared to the first half of 2014. Organic revenue growth worldwide was 8%.

Operating income (EBIT) for the first half of 2015 was $1,051 million as compared to $1,001 million in the first half of 2014. This represents an increase of 5% on a reported basis.

Net interest expense for the first half of 2015 was $204 million as compared to $195 million in the first half of 2014.

Income tax expense for the first half of 2015 was $273 million, which translates into an effective tax rate of 32.2%. On an adjusted basis the tax rate for the first half of 2014 was 32.3%*. For the full year, the company expects the tax rate to be on the lower end of its guidance range of 33 to 34%.

_{*The tax rate in the second quarter of 2014 was influenced by a special tax impact which resulted in an expense of $18 million.}

For the first half of 2015, net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA was $450 million, up by 3% from the corresponding number of $439 million for the first half of 2014.

In the first half of 2015, basic earnings per share (EPS) was $1.48, an increase of 2% compared to the corresponding number for the first half of 2014. The weighted average number of shares outstanding during the first half of 2015 was approximately 303.9 million shares.

Cash flow

In the first half of 2015, the company generated $832 million in net cash provided by operating activities, representing 10.2% of revenue, as compared to $562 million for the same period in 2014.

A total of $411 million was spent for capital expenditures, net of disposals. Free cash flow for the first half of 2015 was $421 million as compared to $147 million in the first half of 2014.

A total of $66 million in cash was spent for acquisitions and investments, net of divestitures. Free cash flow after investing activities was $355 million as compared to a ($285) million in the first half of 2014.

Employees

As of June 30, 2015, Fresenius Medical Care had 102,893 employees (full-time equivalents) worldwide, compared to 94,401 employees at the end of June 2014. This increase of ~8,500 employees was mainly attributable to acquisitions as well as our continued organic growth.

Balance sheet structure

The company´s total assets of $25,410 million remained on a similar level (Dec. 31, 2014: $25,447 million). Current assets were virtually flat at $6,702 million (Dec. 31, 2014: $6,725 million). Non-current assets remained almost unchanged at $18,708 million (Dec. 31, 2014: $18,722 million). Total equity increased by 2% to $10,182 million (Dec. 31, 2014: $10,028 million). The equity ratio was 40% as compared to 39% at the end of 2014. Total debt was $9,270 million (Dec. 31, 2014: $9,532 million). As of June 30, 2015, the debt/EBITDA ratio was 3.0 (Dec. 31, 2014: 3.1).

Please refer to the attachments for a complete overview of the results for the second quarter and first half of 2015.

Outlook* confirmed

_{*The outlook/projection provided for 2015/2016 is based on current exchange rates. Savings from the global efficiency program are included, while potential acquisitions are not. In addition the outlook reflects further operating cost investments within the Care Coordination business for future growth in line with our 2020 strategy.}

For the 2015 outlook the company expects revenue to grow at 5-7%, which at constant currency is a growth rate of 10-12%. Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA is expected to increase by 0-5% in 2015.

The company expects to spend around $1.0 billion on capital expenditures and around $400 million on acquisitions in 2015. The debt/EBITDA ratio is expected to be around 3.0 by the end of 2015.

For the 2016 projections we expect revenue to increase around 7-10%TBD (previously 9-12%). This is due to the fact that we expect some of the initiatives in Care Coordination operations to be delayed into the following years. The net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA is still expected to grow by 15-20% (unchanged).

As disclosed in the company’s long-term target for 2020, the company expects revenue to grow at an average annual growth rate of approx. 10% and net income attributable to shareholders in the high single digits.

Conference call

Fresenius Medical Care will hold a conference call to discuss the results of the second quarter 2015 on Thursday, July 30, 2015 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.

###

_{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.}

Contact

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

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Contact

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pr-fre@fresenius.com

Documents

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Everybody who has to fulfill demanding tasks with the help of technical devices during their daily clinical routine needs a sense of safety and reliability. The more extensive the tasks are the more important is the easy and intuitive handling of the complex technology. Fresenius Medical Care’s multiFiltratePRO is specifically tailored to meet these needs.

Dominik Wehner, chief executive officer for Europe, Middle East and Africa commented: “User-friendly operations, reliability as well as the usage for various extracorporeal therapies are the key strengths of this new therapy system multiFiltratePRO. This powerful technology increases efficiency and ergonomics and is equally easy to operate.”

A multitude of features supports physicians and caregivers who are increasingly experiencing raising workloads and high working pressure: a large touch screen monitor comprehensively displays all needed information; intuitive handling; fully integrated fluid heaters reliably provide the right temperature of the fluid; a “Care-Mode” prevents unnecessary alarms and a functional chassis allows easy mobility also in the narrow space at the bedside.

The multiFiltratePRO platform is based on modern technology and builds on substantial experience with our successfully established Ci-Ca® regional anticoagulation which results in less bleeding for the patients.

Dr. Olaf Schermeier, chief executive officer for Global Research and Development stated: “Over the time we expect to expand this new therapy platform. The reliable and simple user interface helps reducing the demand on personnel while providing the highest treatment quality. And spending less time with handling complex technology offers the opportunity to pay more attention to the patient itself.”

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Head of Corporate Communications
T +49 (0) 6172 608-96008
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 it intends to sell €250 million of senior unsecured notes due 2016 (the "Senior Notes") issued by FMC Finance VI S.A., a wholly owned subsidiary of the Company. The Senior Notes will be offered through a private placement directed to institutional investors outside the United States. There will be no public offering of the Senior Notes. Proceeds from the offering will be used to repay short-term indebtedness and for general corporate purposes.

The Senior Notes will be guaranteed on a senior basis jointly and severally by the Company, Fresenius Medical Care Holdings, Inc. and Fresenius Medical Care Deutschland GmbH.

The proposed offering will not be registered under the Securities Act of 1933. The offering will be made in an "offshore transaction" pursuant to Regulation S under the Securities Act and will be offered in the United States to "qualified institutional buyers" pursuant to the exemption from registration under Rule 144A under the Securities Act.

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

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Bad Homburg, Germany – Fresenius Medical Care AG & Co. KGaA (the "Company" or "Fresenius Medical Care"), the world's largest provider of dialysis products and services, today announced the pricing of Senior Notes due 2016 in the principal amount of €250 million issued by FMC Finance VI S.A., a wholly owned subsidiary of the Company (the "Senior Notes"). The coupon will be 5.50%. With a price at issuance of 98.6636% the yield to maturity will be 5.75%. Proceeds will be used to repay short-term indebtedness and for general corporate purposes.

The Senior Notes will be guaranteed on a senior basis jointly and severally by the Company, Fresenius Medical Care Holdings, Inc. and Fresenius Medical Care Deutschland GmbH.

Michael Brosnan, Chief Financial Officer of the Company, commented: "We are pleased to have successfully completed a senior unsecured note offering. We believe it demonstrates that investors clearly recognize our sustainable financial strength and are confident in the future of Fresenius Medical Care and the dialysis industry."

The Senior Notes were not registered under the Securities Act of 1933, but were offered in an "offshore transaction" pursuant to Regulation S under the Securities Act and to "qualified institutional buyers" in the United States pursuant to the exemption of registration under Rule 144 A under the Securities Act. The Senior Notes may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.

Contact

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

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The company reached its financial targets for 2009, set new records and proposes its 13th consecutive annual dividend increase.

2009 Full-Year Summary:

Net revenue	$ 11,247 million		+6%
Operating income (EBIT)	$ 1,756 million		+5%
Net income attributable to Fresenius Medical Care AG & Co. KGaA	$ 891 million		+9%
Earnings per share	$ 2.99		+9%
Dividend Proposal Ordinary share	€ 0.61		+5%
Dividend Proposal Preference share	€ 0.63		+5%

2009 4th-Quarter Summary:

Net revenue	$ 3,035 million		+12%
Operating income (EBIT)	$ 491 million		+13%
Net income attributable to Fresenius Medical Care AG & Co. KGaA	$ 247 million		+15%
Earnings per share	$ 0.82		+15%

Fresenius Medical Care AG & Co. KGaA ("the Company" or "FMC AG & Co. KGaA"), the world's largest provider of dialysis products and services, today announced its results for the fourth quarter and full year of 2009.

4th-Quarter 2009:

Revenue

Net revenue for the fourth quarter of 2009 increased by 12% to $3,035 million (8% at constant currency) compared to the fourth quarter of 2008. Organic revenue growth worldwide was 8%. Dialysis Services revenue grew by 12% to $2,226 million (11% at constant currency) in the fourth quarter of 2009. Dialysis Product revenue increased by 10% to $809 million (an increase of 3% at constant currency) in the same period.

North America revenue increased by 9% to $2,012 million. Organic revenue growth was 9%. Dialysis Services revenue grew by 10% to $1,799 million. Average revenue per treatment for U.S. clinics increased to $357 in the fourth quarter of 2009 compared to $335 for the corresponding quarter in 2008 and $348 for the third quarter of 2009. This development was attributable principally to reimbursement increases and increased utilization of pharmaceuticals. Dialysis Product revenue decreased by 3% to $213 million as a result of decreased sales of our phosphate-binding drug PhosLo®, partially offset by sales of our intravenous iron products, which increased by 14%, as well as increased sales of dialyzers, solutions and concentrates.

International revenue increased by 18% to $1,023 million, compared to the fourth quarter of 2008. Based on constant currency, revenue grew by 8%. Organic revenue growth was 7%. Dialysis Services revenue was $427 million, an increase of 22% (12% at constant currency). Dialysis Product revenue increased by 15% to $596 million (5% at constant currency), led by sales of products for acute care treatments, sales of dialyzers, bloodlines and pharmaceuticals.

Earnings

Operating income (EBIT) for the fourth quarter of 2009 increased by 13% to $491 million compared to the fourth quarter of 2008. The operating margin increased from 15.9% in the fourth quarter of 2008 to 16.2% in the fourth quarter of 2009.

In North America, the operating margin increased from 16.7% in the fourth quarter of 2008 to 17.7% in the fourth quarter of 2009. The margin development was impacted favorably by an increase in revenue per treatment and strong cost controls. The revenue per treatment improved mainly due to increased commercial rates, an increase in the utilization of pharmaceuticals and favorable development of the payor mix. The cost per treatment was impacted favorably by a strong cost management and a decrease in bad-debt expenses due to excellent cash collections on receivables. This was offset partially by higher costs for pharmaceuticals, mainly related to utilization, as well as the impact of the launch of a generic version of PhosLo® in the U.S. market and increased depreciation expense.

In the International segment, the operating margin decreased from 17.7% to 17.6% due to higher bad-debt and R&D expenses, partially offset by more favorable foreign exchange rate effects, lower production costs resulting from lower prices for raw material and energy, as well as economies of scale.

Net interest expense for the fourth quarter of 2009 was $75 million compared to $85 million in the comparable quarter of 2008, mainly due to lower short-term interest rates.

Income tax expense was $145 million for the fourth quarter of 2009 compared to $120 million in the fourth quarter of 2008, reflecting effective tax rates of 34.9% and 34.3%, respectively.

Net income attributable to FMC AG & Co. KGaA for the fourth quarter of 2009 was $247 million, an increase of 15% compared to the fourth quarter of 2008.

Earnings per share (EPS) for the fourth quarter of 2009 rose by 15% to $0.82 per ordinary share. The weighted average number of shares outstanding for the fourth quarter of 2009 was approximately 299 million shares compared to 297.6 million shares for the fourth quarter of 2008. The increase in shares outstanding resulted from stock option exercises in the past 12 months.

Cash Flow

In the fourth quarter of 2009, the Company generated $458 million in cash from operations, an increase of 52% compared to the fourth quarter of 2008 and representing approximately 15% of revenue. The cash flow performance was influenced positively by the favorable development of the Days Sales Outstanding and increased earnings.

A total of $173 million was spent for capital expenditures, net of disposals. Free Cash Flow before acquisitions was $285 million compared to $120 million in the fourth quarter of 2008. A total of $79 million in cash was used for acquisitions net of divestitures. Free Cash Flow after acquisitions and divestitures was $206 million compared to $32 million in the fourth quarter of the previous year.

Full Year 2009:

Revenue and Earnings

Net revenue was $11,247 million for the full year 2009, an increase of 6% compared to 2008. At constant currency, net revenue rose 9%. Organic growth was 8% in 2009.

Operating income (EBIT) increased by 5% to $1,756 million in 2009. The operating margin for 2009 was 15.6% compared to 15.8% for 2008.

Net interest expense for the full year 2009 was $300 million compared to $336 million in 2008, mainly due to lower short-term interest rates.

Income tax expense was $491 million for the full year 2009 compared to $476 million in 2008, reflecting effective tax rates of 33.7% and 35.6%, respectively. Tax expense was impacted positively by increased non-taxable non-controlling interest in North America.

For the full year 2009, net income attributable to FMC AG & Co. KGaA was $891 million, up 9% from 2008.

Earnings per ordinary share rose by 9% to $2.99 in 2009. The weighted average number of shares outstanding during 2009 was approximately 298.3 million.

Cash Flow

Cash from operations during 2009 was $1,339 million compared to $1,016 million for 2008, representing approximately 11.9% of revenue. The cash flow generation benefited from increased earnings and the favorable development of the Days Sales Outstanding.

A total of $562 million was spent for capital expenditures, net of disposals. Free Cash Flow before acquisitions for 2009 was $777 million compared to $343 million in 2008. A total of $136 million in cash was used for acquisitions net of divestitures. Free Cash Flow after acquisitions and divestitures was $641 million compared to $125 million in 2008.

Please refer to the attachments for a complete overview on the fourth quarter and the full year of 2009.

Patients – Clinics – Treatments

As of Dec. 31, 2009, Fresenius Medical Care treated 195,651 patients worldwide, which represents a 6% increase compared to the previous year. North America provided dialysis treatments for 132,262 patients, an increase of 5%. Including 30 clinics managed by Fresenius Medical Care North America, the number of patients in North America was 133,969. The International segment served 63,389 patients, an increase of 9% over the prior year.

As of Dec. 31, 2009, the Company operated a total of 2,553 clinics worldwide. This is comprised of 1,784 clinics in North America (1,814 including managed clinics), an increase of 6%, and 769 clinics in the International segment, an increase of 10%.

Fresenius Medical Care delivered approximately 29.43 million dialysis treatments worldwide during 2009. This represents an increase of 6% year over year. North America accounted for 19.87 million treatments, an increase of 4%, and the International segment delivered 9.56 million treatments, an increase of 10% over the previous year.

Employees

As of Dec. 31, 2009, Fresenius Medical Care had 67,988 employees (full-time equivalents) worldwide compared to 64,666 employees at the end of 2008. This increase of more than 3,300 employees is due to the overall growth in the Company's business.

Dividend

The Company will continue to follow an earnings-driven dividend policy. For the 13th consecutive year, shareholders can expect to receive an increased annual dividend for the fiscal year 2009. At the Annual General Meeting to be held on May 11, 2010, shareholders will be asked to approve a dividend of €0.61 per ordinary share, an increase of 5% from 2008 (€0.58).

Debt/EBITDA Ratio

The ratio of debt to Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) decreased from 2.69 at the end of 2008 to 2.46 at the end of 2009.

Rating

There have been no rating changes in the fourth quarter 2009, Standard & Poor's Rating Services continued to rate the Company's corporate credit as ‘BB' with a ‘stable' outlook. Moody's also affirmed its rating of the Company's corporate credit as ‘Ba1' with a ‘stable' outlook. Fitch rates the Company's corporate credit as ‘BB' with a ‘stable' outlook. For further information on Fresenius Medical Care's credit ratings, maturity profiles and credit instruments, please visit our website at www.fmc-ag.com / Investor Relations / Credit Relations.

Issuance of Senior Notes

At the beginning of the first quarter of 2010 Fresenius Medical Care issued senior notes due 2016 in the amount of €250 million. The coupon is 5.5%. With a price at issuance of 98.6636% the yield to maturity at issuance was 5.75%. Proceeds were used to repay short-term indebtedness and for general corporate purposes. The senior notes are guaranteed on a senior basis jointly and severally by the Company, Fresenius Medical Care Holdings, Inc. and Fresenius Medical Care Deutschland GmbH.

Fresenius Medical Care Announces Management Board Changes

In December 2009, Fresenius Medical Care announced a transition to a new management board structure drawing entirely on internal management strength. The contract of Dr. Ben Lipps as chairman has been extended Dec. 31, 2012, and Rice Powell has been appointed as Deputy Chairman of the Fresenius Medical Care Management Board. The Company has also appointed Mike Brosnan as Chief Financial Officer. Kent Wanzek was named to the new Fresenius Medical Care Management Board position for Global Manufacturing Operations to provide stronger manufacturing coordination on a global basis.

Outlook for 2010

For the full year of 2010, the Company expects to achieve revenue of more than $12 billion.

Net income attributable to FMC AG & Co. KGaA is expected to be between $950 million and $980 million in 2010.

The Company expects to spend $550 to $650 million on capital expenditures and up to $400 million on acquisitions. The debt/EBITDA ratio is expected to be below 2.5 by the end of 2010.

Ben Lipps, chief executive officer of Fresenius Medical Care, said: "We are very pleased to report excellent financial results for the fourth quarter and full year of 2009. With this performance, we achieved the top end of our earnings guidance for 2009. Cash flow from operations was very strong and clearly ahead of our expectations. In 2010, we expect to face similar challenges as we did in 2009 but we continue with confidence to execute our strategic plan while maintaining vigilance as to local health care trends. We remain committed to providing the best quality of care to maximize patients overall health and well-being. Our early stage experience with a comprehensive payment demonstration concept, online Hemofiltration and nocturnal dialysis are particularly encouraging in that they show a positive effect on total health care costs while improving patient care outcomes. "

Video Webcast

Fresenius Medical Care will hold a press conference at its headquarters in Bad Homburg, Germany, to discuss the results of the fourth quarter and the full year of 2009 on Wednesday, Feb. 24, 2010, at 10 am CET. The Company cordially invites journalists to view the live video webcast at the Company's website www.fmc-ag.com in the section "News and Press / Video service". A replay will be available shortly after the meeting.