Fresenius, Fresenius Medical Care stand by 2013 target
German healthcare giant Fresenius and its renal care subsidiary Fresenius Medical Care (FMC) said Tuesday they were sticking to their full-year targets for this year after notching up a solid first quarter.
"Fresenius is off to an excellent start in 2013," said chief executive Ulf Mark Schneider.
"We improved on last year's outstanding sales and earnings and had the best first quarter in the company's history. Our first-quarter performance puts us on track to meet our goals for the full year 2013 and to exceed 1.0 billion euros ($1.3 billion) in group net income for the first time," Schneider said.
Fresenius said its net profit rose by 12 percent to 224 million euros in the period from January to March on an 11-percent increase in sales to 4.9 billion euros.
Underlying or operating profit was up 5.0 percent at 696 million euros.
The separately listed renal care specialist Fresenius Medical Care (FMC), which publishes its accounts in dollars, announced in its own statement that net profit fell by 39 percent to $225 million in the January-March period.
But that was largely because the year-earlier figure was inflated by one-off gains from investments, it explained.
Operating profit slipped by only 2.0 percent to $493 million on a seven-percent increase in sales to $3.464 billion.
"In a challenging, uncertain environment we delivered solid first quarter results," said chief executive Rice Powell.
"We are confident meeting our guidance range for the full year, although we are not completely satisfied with our growth internationally in the first quarter of 2013," Powell said.
© 2013 AFP