Fresenius Medical Care Reports Second Quarter and Six Months 2006 Results; Outlook for 2006 Upgraded

Summary Second Quarter 2006:
Net revenue $ 2,165 million + 29%

Operating income (EBIT) $ 372 million + 56%
Operating income (EBIT) excluding SFAS 123(R) $ 340 million
and one-time items + 42%

Net income $ 130 million + 12%
Net income excluding SFAS 123(R) and one-time $ 139 million + 19%
items

Fresenius Medical Care AG & Co. KGaA ("the Company") (FrankfurtStock Exchange: FME, FME3) (NYSE: FMS, FMS-p), the world's largestprovider of Dialysis Products and Services, today announced theresults for the second quarter and the first six months 2006.

Second Quarter 2006:

Please note, the result of operations of Renal Care Group (RCG)are consolidated from April 1, 2006 onwards.

Revenue

Total revenue for the second quarter 2006 compared to the secondquarter 2005 increased by 29% (30% at constant currency) to $2,165million. Total organic revenue growth worldwide was 9%. DialysisServices revenue grew by 38% to $1,652 million (38% at constantcurrency) in the second quarter of 2006. Dialysis Product revenueincreased by 9% to $514 million (9% at constant currency) in the sameperiod. Excluding Renal Care Group (RCG) and the divested dialysisclinics in conjunction with the acquisition of RCG, revenue for thesecond quarter 2006 grew by 9%.

North America revenue increased by 38% to $1,561 million. DialysisServices revenue increased by 43% to $1,428 million. Average revenueper treatment for the U.S. clinics increased by 8% to $317 in thesecond quarter 2006 as compared to $294 for the same quarter in 2005.Dialysis Product revenue increased by 5% to $133 million led by strongsales of our 2008K hemodialysis machines and single-use dialyzer sales(Carepak(TM)). Excluding RCG and the related divestitures, thedialysis product revenue increased by 10% versus last year.

International revenue was $604 million, an increase of 11% (11% atconstant currency) as compared to the second quarter of 2005. DialysisServices revenue reached $224 million, an increase of 12% (13% atconstant currency). Dialysis Product revenue increased by 10% to $380million (10% at constant currency), led by strong machine (both the4008 and 5008 series) sales.

Earnings

Operating income (EBIT) increased by 56% to $372 million,including a $39 million gain from the divestiture of dialysis clinicsin conjunction with the regulatory approval for the acquisition ofRCG. In addition, operating income for the second quarter 2006includes $3 million of costs related to the change of accountingprinciples for stock options (SFAS 123R) and $4 million of one-timecosts associated with the restructuring of RCG and the transformationof Fresenius Medical Care's legal form and related legal fees.

Excluding these costs and the gain from the divestiture, operatingincome for the second quarter 2006 increased by 42% to $340 millionresulting in an operating margin of 15.7%. For the second quarter 2005the operating margin was 14.3%.

Compared with the second quarter 2005, the operating margin inNorth America increased by 180 basis points to 15.8% due to theconsolidation of RCG, an increase in the revenue per treatment andstrong demand for dialysis products. In the International segment, theoperating margin increased by 120 basis points to 18.0%. The strongoperational performance in the International segment was driven bystrong product sales in all regions and positively impacted byimprovements in key countries in Latin America and Asia-Pacific.

Net interest expense for the second quarter 2006 was $100 millioncompared to $43 million in the same quarter of 2005. This increase isabsolutely in line with expectations and is purely the result of thedebt financing for the RCG acquisition.

Income tax expense was $135 million in the second quarter of 2006as compared to $79 million in the second quarter 2005, reflectingeffective tax rates of 49.6% and 40.4%, respectively. The tax rate hasbeen impacted in the second quarter by tax payments in connection withthe divestiture of dialysis clinics in the U.S. and the change ofaccounting principles for stock options (SFAS 123R). Excluding thisimpact, the tax rate was at 38.8%.

Net income for the second quarter 2006 was $130 million, anincrease of 12%. Excluding one-time costs and SFAS 123(R), the netincome increased on a comparable basis by 19% to $139 million.

Earnings per share (EPS) for the second quarter of 2006 rose by10% to $1.32 per ordinary share ($0.44 per American Depositary Share(ADS)), as compared to $1.20 ($0.40 per ADS) for the second quarter of2005. The weighted average number of shares outstanding for the secondquarter of 2006 was approximately 98.0 million shares, as compared to96.4 million shares for the second quarter 2005. The increase inshares outstanding results from stock option exercises in 2005 and inthe first half of 2006.

Cash Flow

In the second quarter of 2006, the Company generated $165 millionin cash from operations, compared to $130 million last year. Cash fromoperations in the second quarter includes $75 million net tax paymentsrelated to the divestiture of clinics and the RCG acquisition.Excluding these tax payments, the underlying cash from operations inthe second quarter 2006 was $240 million, or 11.1% of revenue. Thestrong cash flow generation was supported by reductions in Days SalesOutstanding (DSO) and increased earnings.

A total of $95 million was spent for capital expenditures, net ofdisposals. Free Cash Flow before acquisitions was $70 million comparedto $72 million in the second quarter of 2005. Excluding tax paymentsrelated to the divestiture of clinics the underlying Free Cash Flowbefore acquisitions in the second quarter 2006 was $145 million. Atotal of $24 million in cash was used for acquisitions excluding theRCG acquisition.

First Half 2006:

Earnings and Revenue

In the first half of 2006, net income was $246 million, up 10%from the first half of 2005. Excluding costs related to the change ofaccounting principles for stock options (SFAS 123R) and one-time itemsnet income increased by 19% to $266 million.

Net revenue was $3,912 million, up 19% from the first half of2005. Adjusted for currency, net revenue rose 20% in the first half of2006. Excluding Renal Care Group and the divested clinics revenue forthe first half of 2006 grew by 10%.

Operating income (EBIT) increased by 34% to $616 million.Operating income for the first half of 2006 includes $29 million ofincome as a result of the gain from the clinic divestitures, net ofcosts mainly related to the RCG restructuring and the change ofaccounting principles for stock options.

Excluding these costs, operating income for the first half of 2006increased by 28% to $587 million. This performance resulted in anoperating margin of 15.0% as compared to 14.0% for the first half of2005.

Net interest expense for the first six months of 2006 was $156million as a result of the write-off of deferred financing costsrelated to the 2003 senior credit facility of $15 million and onequarter worth of additional interest expense, both in conjunction withthe financing of the RCG acquisition. Income tax expense was $206million in the first half of 2006 as compared to $149 million in thesame period in 2005, reflecting effective tax rates of 44.8% and39.8%, respectively. The tax rate has been impacted by tax payments inconnection with the gain on divestiture of dialysis clinics in theU.S. and the change of accounting principles for stock options (SFAS123R). Excluding this impact, the tax rate was at 38.5%.

For the first half of 2006, earnings per ordinary share rose by 9%to $2.51 ($0.84 per ADS). The weighted average number of sharesoutstanding during the first half of 2006 was approximately 97.9million.

Cash Flow

Cash from operations during the first half of 2006 was $327million as compared to $268 million in the first half of 2005. Cashfrom operations in the first half of 2006 includes $75 million net taxpayments related to the divestiture of clinics and the RCGacquisition. Excluding these tax payments the underlying cash fromoperations was $402 million in the first half of 2006. The increasecompared to prior year was mainly due to strong collection ofreceivables, improvements in earnings and lower income tax paymentsfor prior years.

A total of $160 million was used for capital expenditures, net ofdisposals. Free Cash Flow before acquisitions for the first half of2006 was $167 million as compared to $171 million in the first half of2005. Excluding tax payments due to the divestiture of clinics theunderlying Free Cash Flow before acquisitions in the first half of2006 was $242 million. A total of $35 million in cash was used foracquisitions other than the RCG acquisition in the first half of 2006.

For a complete overview of the second quarter and the first halfof 2006, please refer to the appendix.

Patients - Clinics - Treatments

As of June 30, 2006, Fresenius Medical Care treated 161,675patients worldwide, which represents a 26% increase in patientscompared to the second quarter of last year. North America provideddialysis treatments for 117,830 patients (up 33%) and theInternational segment served 43,845 patients (up 11%).

As of June 30, 2006, the Company operated a total of 2,078 clinicsworldwide, comprised of 1,540 clinics, an increase of 34% in NorthAmerica, and 538 clinics, an increase of 8%, in the Internationalsegment.

Fresenius Medical Care delivered approximately 11.18 milliondialysis treatments worldwide, which represents an increase of 16%year over year. North America accounted for 7.84 million treatments,an increase of 19%, and the International segment delivered 3.34million treatments, an increase of 11% over last year.

Employees

As of June 30, 2006, Fresenius Medical Care employed 55,243 people(full-time equivalents) worldwide after 47,521 at the end of 2005. Theincrease of 7,722 employees is primarily due to the acquisition ofRenal Care Group.

Renal Care Group Acquisition

As expected, Fresenius Medical Care completed the sale ofadditional 9 dialysis clinics in Illinois on June 30, 2006 afterreceiving the Illinois regulatory approval.

Outlook for 2006 Upgraded

Based on the strong performance in the first half of 2006, theCompany upgrades its guidance for the full year 2006. After expectingto report a revenue of about $8.1 billion, the Company now expects arevenue for 2006 of about $8.3 billion.

The Company also upgrades its outlook for reported net income for2006. After expecting a net income between $515 million and $535million, the Company now expects to report a net income of at least$542 million, which represents an increase of at least 15% over the2005 level.

In order to show the underlying performance of the Company, theguidance does not take into effect any expected one-time items and thechange of accounting principle for stock options - SFAS 123(R) in thefiscal year 2006.

After previously assuming the after tax impact of one-time itemsand SFAS 123(R) to be about $60 million the Company now expects thisimpact to be about $40 million for the full year 2006.

In addition, the Company confirms its guidance on capitalexpenditures and acquisition spending to be approximately $550 millionin 2006.

Ben Lipps, Chief Executive Officer of Fresenius Medical Care,commented: "Our second quarter and half year financial results wereexcellent and exceeded expectations. We continue to see earningsgrowth momentum which is based on the success of our global businessstrategies and the dedication of our employees. In addition, RenalCare Group is continuing to perform very well and our integration iswell underway and on track. We are pleased that all regions andbusiness segments grew at or above market. North America and Europe,which represent over ninety percent of our business, continued theirstrong growth in both the products and services segments. Based on thestrong start in 2006, we have raised our revenue and net incomeguidance for 2006."

Video Webcast

Fresenius Medical Care will hold an analyst meeting at itsheadquarters in Bad Homburg, Germany, to discuss the results of thesecond quarter and the first half of 2006 on August 3, 2006, at 3.15p.m. CEDT / 9.15 a.m. EDT. The Company invites investors to view thelive video webcast of the meeting at the Company's websitewww.fmc-ag.com in the "Investor Relations" section. A replay will beavailable shortly after the meeting.

Fresenius Medical Care is the world's largest integrated providerof products and services for individuals undergoing dialysis becauseof chronic kidney failure, a condition that affects more than1,400,000 individuals worldwide. Through its network of 2,078 dialysisclinics in North America, Europe, Latin America, Asia-Pacific andAfrica, Fresenius Medical Care provides dialysis treatment to 161,675patients around the globe. Fresenius Medical Care is also the world'sleading provider of dialysis products such as hemodialysis machines,dialyzers and related disposable products.

For more information about Fresenius Medical Care visit theCompany's website at www.fmc-ag.com.

This release contains forward-looking statements that are subjectto various risks and uncertainties. Actual results could differmaterially from those described in these forward-looking statementsdue to certain factors, including changes in business, economic andcompetitive conditions, regulatory reforms, foreign exchange ratefluctuations, uncertainties in litigation or investigativeproceedings, and the availability of financing. These and other risksand 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 anyresponsibility to update the forward-looking statements in thisrelease.
Fresenius Medical Care Three Months Ended
Statements of Earnings June 30,
----------------------------------------------------------------------
(in US-$ thousands, except share and %
per share data) 2006 2005 Change
(unaudited)

Net revenue
Dialysis Care 1,651,665 1,200,647 37.6%
Dialysis Products 513,767 473,040 8.6%
Total net revenue 2,165,432 1,673,687 29.4%

Cost of revenue 1,436,387 1,116,611 28.6%
Gross profit 729,045 557,076 30.9%
Selling, general and administrative 383,487 305,828 25.4%
Gain on sale of dialysis clinics (38,975) -
Research and development 12,759 13,143 -2.9%
Operating income (EBIT) 371,774 238,105 56.1%

Interest income (9,396) (3,709) 153.3%
Interest expense 108,697 46,349 134.5%
Interest expense, net 99,301 42,640 132.9%
Earnings before income taxes
and minority interest 272,473 195,465 39.4%
Income tax expense 135,114 78,874 71.3%
Minority interest 7,863 587
Net income 129,496 116,004 11.6%

Operating income (EBIT) 371,774 238,105 56.1%
Depreciation and amortization 80,584 61,617 30.8%
EBITDA 452,358 299,722 50.9%

Total bad debt expenses 48,226 35,015

Earnings per ordinary share $1.32 $1.20 10.2%
Earnings per ordinary ADS $0.44 $0.40 10.2%

Weighted average number
of shares
Ordinary shares 96,771,675 70,000,000
Preference shares 1,186,475 26,406,901

Percentages of revenue
Cost of revenue 66.3% 66.7%
Gross profit 33.7% 33.3%
Selling, general and administrative 17.7% 18.3%
Gain on sale of dialysis clinics -1.8%
Research and development 0.6% 0.8%
Operating income (EBIT) 17.2% 14.2%

Interest expense, net 4.6% 2.5%
Earnings before income taxes
and minority interest 12.6% 11.7%
Income tax expense 6.2% 4.7%
Minority interest 0.4% 0.0%
Net income 6.0% 6.9%

EBITDA 20.9% 17.9%
----------------------------------------------------------------------


Fresenius Medical Care Six Months Ended
Statements of Earnings June 30,
----------------------------------------------------------------------
(in US-$ thousands, except share and per %
share data) 2006 2005 Change
(unaudited)

Net revenue
Dialysis Care 2,924,198 2,363,108 23.7%
Dialysis Products 988,164 919,582 7.5%
Total net revenue 3,912,362 3,282,690 19.2%

Cost of revenue 2,605,027 2,216,869 17.5%
Gross profit 1,307,335 1,065,821 22.7%
Selling, general and administrative 705,158 581,342 21.3%
Gain on sale of dialysis clinics (38,975) -
Research and development 25,533 26,391 -3.3%
Operating income (EBIT) 615,619 458,088 34.4%

Interest income (14,205) (5,954) 138.6%
Interest expense 169,701 90,881 86.7%
Interest expense, net 155,496 84,927 83.1%
Earnings before income taxes
and minority interest 460,123 373,161 23.3%
Income tax expense 206,247 148,517 38.9%
Minority interest 8,343 1,169
Net income 245,533 223,475 9.9%

Operating income (EBIT) 615,619 458,088 34.4%
Depreciation and amortization 141,842 121,328 16.9%
EBITDA 757,461 579,416 30.7%

Total bad debt expenses 77,848 64,998

Earnings per ordinary share $2.51 $2.31 8.7%
Earnings per ordinary ADS $0.84 $0.77 8.7%

Weighted average number
of shares
Ordinary shares 96,700,941 70,000,000
Preference shares 1,165,436 26,368,725

Percentages of revenue
Cost of revenue 66.6% 67.5%
Gross profit 33.4% 32.5%
Selling, general and administrative 18.0% 17.7%
Gain on sale of dialysis clinics -1.0%
Research and development 0.7% 0.8%
Operating income (EBIT) 15.7% 14.0%

Interest expense, net 4.0% 2.6%
Earnings before income taxes
and minority interest 11.8% 11.4%
Income tax expense 5.3% 4.5%
Minority interest 0.2% 0.0%
Net income 6.3% 6.8%

EBITDA 19.4% 17.7%
----------------------------------------------------------------------


Fresenius Medical Care Three Months Ended Six Months Ended
Segment and Other June 30, June 30,
Information
----------------------------------------------------------------------
(in US-$ million) 2006 2005 % Change 2006 2005 % Change
(unaudited)

Net revenue
North America 1,561 1,127 38.5% 2,754 2,215 24.3%
International 604 547 10.6% 1,158 1,068 8.5%
Total net revenue 2,165 1,674 29.4% 3,912 3,283 19.2%

Operating income (EBIT)
North America 283 157 80.0% 447 304 47.3%
International 109 92 18.2% 205 174 17.4%
Corporate (20) (11) 78.8% (36) (20) 83.5%
Total operating income
(EBIT) 372 238 56.1% 616 458 34.4%

Operating income (EBIT)
in percentage of revenue
North America 18.1% 14.0% 16.2% 13.7%
International 18.0% 16.8% 17.7% 16.3%
Total 17.2% 14.2% 15.7% 14.0%

Excluding SFAS 123(R)
and one-time items (1)
Operating income (EBIT)
North America 246 157 56.8% 411 304 35.3%
International 109 92 18.2% 205 174 17.4%
Corporate (15) (10) 54.6% (29) (19) 51.5%
Total operating income
(EBIT) 340 239 42.0% 587 459 27.9%

Operating income
in percentage of revenue
North America 15.8% 14.0% 14.9% 13.7%
International 18.0% 16.8% 17.7% 16.3%
Total 15.7% 14.3% 15.0% 14.0%


Employees
Full-time equivalents
(June 30 compared to
Dec. 31) 55,243 47,521
----------------------------------------------------------------------

(1)Costs related to the change of accounting principles for stock
options (SFAS 123 R), the gain on sale of FTC mandated clinics,
one-time costs associated with the transformation of legal form and
the RCG restructuring costs.


Fresenius Medical Care
Reconciliation of non US-GAAP financial measures to the most
directly comparable US-GAAP financial measures

Three Months Six Months
Ended Ended
June 30, June 30,
---------------------- ------------- -------- ------------- ---------
(in US-$ million)
(unaudited) 2006 2005 % Change 2006 2005 % Change

Operating performance
excluding SFAS 123(R)
and one-time items(1)

Operating income (EBIT) 372 238 56% 616 458 34%
SFAS 123 (R) and one-
time items(2) (32) 1 (29) 1
Operating income
(EBIT) excluding
SFAS 123(R) and one-
time items(1) 340 239 42% 587 459 28%
Percent of revenue 15.7% 14.3% 15.0% 14.0%

Net income 130 116 12% 246 223 10%
SFAS 123 (R) and one-
time items(2) 9 1 20 1
Net income excluding
SFAS 123(R) and one-
time items(1) 139 117 19% 266 224 19%

Segment information

North America
Net revenue 1,561 1,127
Costs of revenue and
research and
development 1,077 798
Selling, general and
administrative 240 172
Costs of revenue and
operating expenses 1,317 970
Gain on sale of
dialysis clinics (39) -
Operating income (EBIT) 283 157
One-time items(3) (37) -
Operating income
(EBIT) excluding
one-time items 246 157

Dialysis Products
revenue incl. and
excl. internal sales

North America
Dialysis Products revenue
incl. internal sales 248 218
less internal sales (115) (91)
Dialysis Products
external sales 133 127

International
Dialysis Products revenue
incl. internal sales 432 392
less internal sales (51) (46)
Dialysis Products
external sales 381 346

Reconciliation of cash
flow from
operating activities
to EBITDA
Total EBITDA 757 579
Interest expense, net (156) (85)
Income tax expense (206) (149)
Change in working
capital and other
non cash items (68) (77)
Net cash provided by
operating activities 327 268

Annualized EBITDA(4)
Operating income (EBIT)
last twelve months 1,236 900
Depreciation and
amortization
last twelve months 324 240
Non-cash charges 21 10
Annualized EBITDA 1,581 1,150
---------------------- ------ ------ ---------------- ------ ---------

(1) These non US-GAAP financial measures are provided to assist
readers in evaluation of Fresenius Medical Care's underlying
operating performance.

(2) Costs related to the change of accounting principles for stock
options (SFAS 123 R), the gain on sale of FTC mandated clinics,
one-time costs associated with the transformation of legal form,
the RCG restructuring costs and the write-off of deferred

(3) The gain on sale of FTC mandated divestitures and RCG
restructuring costs.

(4) EBITDA 2006: Pro forma numbers including RCG, after FTC mandated
divestitures, excluding one-time costs for the acquisition,
excluding the gain on sale of FTC mandated clinics and RCG
restructuring costs.


Fresenius Medical Care June 30, December 31,
Balance Sheet (unaudited)
---------------------------------------- -------------- --------------
(in US-$ million) 2006 2005

Assets
Current assets 3,080 2,461
Intangible assets 7,558 4,043
Other non-current assets 2,004 1,479
Total assets 12,642 7,983

Shareholders' equity and liabilities
Current liabilities 2,195 1,578
Long-term liabilities 5,959 2,431
Shareholders' equity 4,488 3,974
Total shareholders' equity and
liabilities 12,642 7,983

Equity/assets ratio: 35% 50%


Debt
Short-term borrowings 282 151
Short-term borrowings from related
parties 2 19
Current portion of long-term debt and
capital lease obligations 162 126
Long-term debt and capital lease
obligations, less current portion 4,027 707
Trust Preferred Securities 1,225 1,188
Total debt 5,698 2,191
---------------------------------------- -------------- --------------


Fresenius Medical Care
Cash Flow Statement 2006 2005
------------------------------------------------ ---------- ----------
Six Months Ended June 30,
(in US-$ million)
(unaudited)

Operating activities
Net income 246 223
Depreciation / amortization 141 121
Change in working capital and other non cash
items 15 (76)
Net tax payments related to clinic divestitures
and RCG acquisition (75) -
Cash Flow from operating activities 327 268

Investing activities
Purchases of property, plant and equipment (173) (105)
Proceeds from sale of property, plant and
equipment 13 8
Capital expenditures, net (160) (97)
Free Cash Flow 167 171

Acquisitions, net of cash acquired (4,194) (52)
Proceeds from divestitures 505 -
Free Cash Flow after investing activities (3,522) 119

Financing activities
Change in accounts receivable securitization
program 131 27
Change in intercompany debt (18) 40
Change in other debt 3,237 (54)
Proceeds from exercise of stock options 22 8
Proceeds from conversion of preference
shares into ordinary shares 307 -
Change in minority interests (6) -
Dividends paid (154) (137)
Cash Flow from financing activities 3,519 (116)

Effects of exchange rates on cash 19 (5)
Net increase (decrease) in cash 16 (2)

Cash at beginning of period 85 59
Cash at end of period 101 57
------------------------------------------------ ---------- ----------


Fresenius Medical Care
Quarterly Performance Scorecard - Revenue
---------------------------------------------- ----------------- -----
Three months ended June 30, 2006 cc 2005 cc
(in US-$ thousands, except per
treatment revenue)

North America
Net revenue 1,560,638 1,126,953
Growth year-over-year 38.5% 6.3%

Dialysis Care 1,427,907 1,000,176
Growth year-over-year 42.8% 5.3%
U.S. per treatment 317 294
Per treatment 314 292
Sequential growth 2.3% 0.1%
Growth year-over-year 7.7% 1.5%

Dialysis Products
incl. internal sales 247,610 217,819
Growth year-over-year 13.7% 6.1%
External sales 132,731 126,777
Growth year-over-year 4.7% 14.9%

International
Net revenue 604,793 546,735
Growth year-over-year 10.6% 11.1% 11.2% 5.6%

Dialysis Care 223,758 200,470
Growth year-over-year 11.6% 12.8% 13.1% 7.2%
Per treatment 132 133 130 123
Sequential growth 1.7% -1.6%
Growth year-over-year 1.3% 2.3% 6.0% 0.4%

Dialysis Products
incl. internal sales 431,642 391,637
Growth year-over-year 10.2% 10.4% 11.3% 5.7%
External sales 381,035 346,265
Growth year-over-year 10.0% 10.1% 10.1% 4.7%
---------------------------------- ----------- ----------------- -----

cc = at constant exchange rates


Fresenius Medical Care
Quarterly Performance Scorecard - Dialysis Care Volume
---------------------------------------------------------- -----------
Three months ended June 30, 2006 2005

North America
Number of treatments 4,462,618 3,355,159
Treatments per day 57,209 43,009
Per day sequential growth 30.5% 1.9%
Per day year-over-year growth 33.0% 3.9%
of which:
- Acquisition RCG 33.9% -
- FTC divestitures -3.1% -
- Other acquisitions 1.0% 1.1%
- Same market growth year-over-year 1.6% 3.6%
- Adjustment for closed/sold facilities -0.4% -0.8%

International
Number of treatments 1,697,618 1,540,433
Same market growth year-over-year 7.9% 7.9%
--------------------------------------------- ------------ -----------


Fresenius Medical Care
Quarterly Performance Scorecard - Expenses
--------------------------------------------- ------------ -----------
Three months ended June 30, 2006 2005

North America
Costs of revenue and operating expenses
Percent of revenue(1) 84.4% 86.0%
Gain on sale of dialysis clinics
Percent of revenue -2.5% 0.0%
Selling, general and administrative
Percent of revenue (1) 15.4% 15.3%
Bad debt expenses
Percent of revenue 2.9% 3.0%
Dialysis Care operating expenses/Treatment
(in US-$) 263 253
Sequential growth 0.1% -0.1%
Growth year-over-year 4.2% 0.7%

Total Group
Costs of revenue and operating expenses
Percent of revenue (2) 84.6% 85.8%
Gain on sale of dialysis clinics
Percent of revenue -1.8% -
Selling, general and administrative
Percent of revenue (2) 17.7% 18.3%
Effective tax rate 49.6% 40.4%
--------------------------------------------- ------------ -----------

(1) Includes 0.2% RCG restructuring costs.

(2) Includes 0.3% related to change in accounting principles for stock
options (SFAS 123 (R)), one-time costs associated with the
transformation of legal form and RCG restructuring costs.


Fresenius Medical Care
Quarterly Performance Scorecard - Cash Flow/Investing Activities
----------------------------------------------------------------------
Three months ended June 30, 2006 2005
(in US-$ thousands, except number of de novos)

Total Group
Operating Cash Flow 165,419 129,645
Percent of revenue 7.6% 7.7%

Free Cash Flow before acquisitions 70,387 72,240
Percent of revenue 3.3% 4.3%

Acquisitions, net 243,579 29,726

Divestitures (505,386) 0

Capital expenditures, net 95,032 57,405
Percent of revenue 4.4% 3.4%

Maintenance 48,162 30,138
Percent of revenue 2.2% 1.8%

Growth 46,870 27,267
Percent of revenue 2.2% 1.6%

Number of de novos 25 14
North America 17 7
International 8 7
------------------------------------------------ ---------- ----------


Fresenius Medical Care
Quarterly Performance Scorecard - Balance Sheet
------------------------------------------------ ---------- ----------
Three months ended June 30, 2006 2005

Total Group
Debt (in US-$ million) 5,698 2,388
Debt/EBITDA 3.6 2.1

North America
Days sales outstanding 59 65
Sequential development -1.7% -1.5%
Year-over-year development -9.2% -5.8%

International
Days sales outstanding 119 123
Sequential development 1.7% 0.0%
Year-over-year development -3.3% 0.8%
------------------------------------------------ ---------- ----------


Fresenius Medical Care
Quarterly Performance Scorecard
-------------------------------------------------- --------- ---------
Three months ended June 30, 2006 2005

Clinical Performance (FME only)
North America (U.S.)
Urea reduction greater than or = 65% 91% 90%
Single Pool Kt/v greater than 1.2 94% 94%
Hemoglobin greater than or = 11g/dl 81% 80%
Albumin greater than or = 3.5 g/dl(a) 80% 79%
Hospitalization days per patient (12 months ending
June 30,) 11.5 12.0


Demographics (FME only)
North America (U.S.)
Average age (yr) 61 61
Average time on dialysis (yr) 3.4 3.4
Average body weight (kg) 77 77
Prevalence of diabetes 52% 52%
-------------------------------------------------- --------- ---------

(a) International standard BCR CRM470