Fresenius Medical Care Q1 Profit Rises, Adj. Revenue Up 14%; Confirms Outlook

(RTTNews) - Fresenius Medical Care AG & Co. KGaA (FMS) reported that its first-quarter net income attributable to shareholders was 308 million euros, an increase of 45% from prior year. Excluding the agreement with the United States Departments of Veterans Affairs and Justice, net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA increased by 17%. Basic earnings per share was 1.01 euros, compared to 0.70 euros. Total operating income (EBIT) increased by 31% to 651 million euros. The company said this increase was strongly supported by the Dialysis business in North America, the agreement with the United States Departments of Veterans Affairs and Justice and the business growth in Asia Pacific. Adjusted EBIT was up 11% to 552 million euros.

First-quarter revenue for the company improved by 16% and reached 4.55 billion euros (12% at constant currency), largely driven by strong Health Care Services revenue growth of 19% in North America (15% at constant currency). Adjusted revenue was up 14% to 4.45 billion euros. Total Health Care Services revenue increased by 18% (14% at constant currency) to 3.77 billion euros, while product revenue grew 8% (6% at constant currency) to 779 million euros.

Fresenius Medical Care confirmed its full year outlook 2017. The company expects revenue growth between 8% and 10% at constant currency for fiscal 2017. Net income attributable to shareholders is expected to increase by 7% to 9% at constant currency over the previous year.