Conference Call │ Q2/22 Preliminary Results
Bad Homburg, 28 July 2022
Safe Harbor Statement
This presentation contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings the availability of financing, and unforeseen impacts of international conflicts.
Fresenius does not undertake any responsibility to update the forward-looking statements contained in this presentation.
Q2/22 Preliminary Results, 28 July 2022 © Fresenius SE & Co. KGaA Investor Relations & Sustainability | 2 |
Key messages
Weak Q2 amid intensifying | FY/22 Group guidance driven | Medium-term targets: Sales | "Meet the Management" with |
U.S. labor shortages and | by Fresenius Medical Care's | CAGR specified; net income1 | Fresenius Kabi on October 7, |
accelerating macro-economic | outlook adjustment | CAGR no longer believed to | 2022 |
challenges | be achievable | ||
Marked by increased | In line with expectations; | Solid organic growth in | Supply chain disruptions and |
headwinds from U.S. labor | biosimilars business | Germany and Spain based on | higher material costs remain |
market and global inflation | progressing well | healthy activity levels | headwinds |
1 Net income attributable to shareholders of Fresenius SE & Co. KGaA; before special items
Q2/22 Preliminary Results, 28 July 2022 © Fresenius SE & Co. KGaA Investor Relations & Sustainability | 3 |
Fresenius Group: Temporary headwinds driven by geopolitical turmoil and the COVID-19 pandemic weighing on FY/22 earnings growth
Headwinds for net income development FY/22e Reconciliation to new guidance
Low | Low-to-mid | ||||||
single-digit | single-digit | ||||||
net income | net income | ||||||
growth | decline | ||||||
Material
costs Energy costs
Missing
growth Labor costs
Material, supply chain and energy costs
- Meaningful increases across all segments
Missing growth
- Staff shortages limit growth e.g. onboarding opportunities for new patients in dialysis clinics
Labor costs
- Headwinds primarily at FMC in the U.S. patient-facing service business
Offset
- Including monies from the U.S. government's Provider Relief Fund
- Compensating measures include tight cost control and product price increases wherever possible
Expectations H2/2022
- Neither meaningful worsening of macro challenges nor major COVID- 19 pandemic effects leading to lock-downs factored in
- Overall, we consider headwinds as temporary and not structural
Q2/22 Preliminary Results, 28 July 2022 © Fresenius SE & Co. KGaA Investor Relations & Sustainability | 4 |
Kabi: Solid Q2/22 on tough comps
• Market shares remain robust in key NAM and | ||||||
YoY | YoY | China markets | ||||
€m | Q2/22 | cc | H1/22 | cc | − NAM: Price pressure easing to low single- | |
digits in our base product portfolio | ||||||
Sales | 1,896 | 2%1 | 3,743 | 1%1 | ||
− China: Marked by significant NVBP tender | ||||||
EBIT | 271 | -15%2 | 564 | -8%2 | ||
related price pressure ahead of Q3/Q4 | ||||||
annualization | ||||||
• FDA inspected Melrose Park facility - feedback | ||||||
expected in Q3/22 | ||||||
• Biosimilar business progressing well | ||||||
• Ivenix acquisition closed during Q2; | ||||||
large volume pump receiving promising | ||||||
customer feedback | ||||||
• | mAbxience closing imminent |
All figures preliminary figures
Before special items
- Organic
- Excluding Ivenix acquisition
Q2/22 Preliminary Results, 28 July 2022 © Fresenius SE & Co. KGaA Investor Relations & Sustainability | 5 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Fresenius SE & Co. KGaA published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 06:57:03 UTC.