Fresenius Medical Care Q1 Profit Down

(RTTNews) - Fresenius Medical Care AG & Co. KGaA (FMS) reported that its first-quarter net income attributable to shareholders decreased by 3% to 271 million euros, while it was down 6% at constant currency. On an adjusted basis, net income attributable to shareholders of increased by 8% or 3% at constant currency.

Basic earnings per share decreased by 3% to 0.88 euros, while it was down 7% at constant currency. On an adjusted basis, basic earnings per share amounted to 1.04 euros, representing an increase of 8% or 3% at constant currency.

Revenue in the first quarter 2019 increased by 4% to 4.133 billion euros, but it was down 1% at constant currency. Adjusted for the first-quarter of 2018 revenue contribution from Sound Inpatient Physicians as well as the impact from the IFRS 16 implementation and the revenue contribution from NxStage following the closing, revenue increased by 11%, while it was up 6% at constant currency.

For 2019, Fresenius Medical Care expects adjusted revenue to grow between 3% and 7% and adjusted net income to develop in the range of negative 2% to positive 2%.

For 2020, Fresenius Medical Care expects adjusted revenue as well as adjusted net income to grow at a mid to high single digit rate.