FRESENIUS SE & CO. KGAA Q1 2022
QUARTERLY FINANCIAL REPORT
Financial Statements | Financial Calendar/Contact |
TABLE OF CONTENTS
13 | Business segments | ||||||
13 | Fresenius Medical Care | 28 | Consolidated financial statements | ||||
15 | Fresenius Kabi | 28 | Consolidated statement of income | ||||
17 | Fresenius Helios | 29 | Consolidated statement of comprehensive income | ||||
19 | Fresenius Vamed | 30 | Consolidated statement of financial position | ||||
20 | Employees | 31 | Consolidated statement of cash flows | ||||
20 | Changes to the Management Board | 33 | Consolidated statement of changes in equity | ||||
20 | Research and development | 35 | Consolidated segment reporting first quarter of 2022 | ||||
20 | Rating | ||||||
7 | Healthcare industry | 21 | Oppotunities and risk report | ||||
8 | Results of operations, financial position, assets and liabilities | 21 | Subsequent events | 36 | Notes | ||
8 | Sales | 22 | Outlook 2022 | ||||
9 | Earnings | 25 | Reconciliation tables | ||||
10 | Reconciliation | 27 | Estimated COVID-19 effects | 56 | Financial Calendar |
- Investments
- Cash flow
- Asset and liability structure
2
Financial Statements | Financial Calendar/Contact |
FRESENIUS GROUP FIGURES AT A GLANCE
Fresenius is a global healthcare group providing products and services for dialysis, hospitals, and outpatient medical care. In addition, Fresenius focuses on hospital operations. We also manage projects and provide services for hospitals and other healthcare facilities. In 2021, Group sales were €37.5 billion. As of March 31, 2022, more than 300,000 employees have dedicated themselves to the service of health in about 100 countries worldwide.
SALES AND EARNINGS
Growth | ||||||||
€ in millions | in constant | |||||||
Q1 / 2022 | Growth | currency | ||||||
Sales | 9,720 | 8% | 5% | |||||
EBIT1 | 996 | -1% | -5% | |||||
Net income1,2 | 462 | 6% | 3% | |||||
BALANCE SHEET | ||||||||
€ in millions | March 31, | Dec. 31, 2021 | Change | |||||
2022 | ||||||||
Total assets | 73,114 | 71,962 | 2% | |||||
Equity3 | 30,584 | 29,288 | 4% | |||||
Equity ratio3 | 42% | 41% | ||||||
Net debt / EBITDA1,4 | 3.60 | 3.51 |
PROFITABILITY | ||
Q1 / 2022 | Q1 / 2021 | |
EBIT margin1 | 10.2% | 11.2% |
Return on equity after tax (ROE)1,2,5 | 9.5% | 9.8% |
Return on operating assets (ROOA)1,5 | 6.3% | 6.5% |
Return on invested capital (ROIC)1,5 | 5.6% | 5.9% |
- Before special items
-
Net income attributable to shareholders of Fresenius SE & Co. KGaA
3 Including noncontrolling interests
4 At LTM average exchange rates for both net debt and EBITDA; pro forma closed acquisitions / divestitures 5 2021: annual return FY/21
Financial Statements | Financial Calendar/Contact |
SHAREHOLDER INFORMATION
The war in Ukraine led to great volatility on the stock markets. The DAX declined by 9% in
Q1/22 while the Fresenius share closed 6% lower at €33.35 on March 31, 2022.
RELATIVE SHARE PRICE PERFORMANCE VS. DAX | 31.12.2021 = 100% | ||
110 | |||
105 | |||
100 | |||
95 | |||
90 | |||
85 | |||
80 | |||
75 | |||
70 | |||
31.12.2021 | 31.01.2022 | 28.02.2022 | 31.03.2022 |
Fresenius share | DAX |
KEY DATA OF THE FRESENIUS SHARE
DEVELOPMENT IN FIRST QUARTER 2022
The war in Ukraine has led to great human suffering and economic hardship. The outlook for the global economy has become more uncertain and depends crucially on how the conflict develops and the impact of sanctions measures. Inflation is currently at a high level, additionally driven by supply-side bottlenecks, energy price shocks and rising commodity prices in connection with the war in Ukraine.
According to the ECB's current forecast, the economy in the euro zone will grow by 3.7% this year. The ECB left its key interest rate unchanged at 0.00% during its March meeting.
The Federal Reserve's latest forecast projects the U.S. economy to grow by 2.8% in 2022. The U.S. Federal Re-
Number of shares (March 31 / Dec. 31)
Stock exchange quotation1 in €
High
Low
Period-end quotation closing price in €
- Trading volume (number of shares per trading day) Market capitalization2 in million € (March 31 / Dec. 31) Earnings per share in €3
- Xetra closing price on the Frankfurt Stock Exchange
- Total number of ordinary shares multiplied by the respective Xetra period-end quotation on the Frankfurt Stock Exchange
3 Net income attributable to shareholders of Fresenius SE & Co. KGaA; before special items
Q1 / 2022 |
558,502,143 |
37.88
27.65
33.35
1,895,335
18,623
0.83
2021Growth
558,502,1430%
47.44-20%
- -17%
-
-6%
1,405,53635%
19,771-6%
3.35--
serve increased the existing interest rates corridor by 25bps to 0.25% to 0.50% at its March meeting.
Within this economic environment, the DAX decreased by 9% in the first three months of 2022 to 14,415 points. The Fresenius share lost 6% in Q1 / 22 and closed at €33.35 on March 31, 2022.
4
Financial Statements | Financial Calendar/Contact |
INTERIM GROUP MANAGEMENT REPORT
Fresenius with solid start to 2022 despite macroeconomic challenges
- Fresenius Medical Care in line with its expectations countering significant headwinds
- Fresenius Kabi's solid financial performance based on strong Emerging Markets growth
- Fresenius Helios' strong performance driven by growing admissions in Germany and Spain
- Fresenius Vamed with continued progress towards normal operations, very good performance in the service business
- Ongoing headwinds from cost inflation and supply chain challenges, with uncertainty and volatility fueled by the Ukraine war
- Guidance for 2022 confirmed
- Fresenius appoints Sara Hennicken as Chief Financial Officer -- Rachel Empey to leave company at own request
- Dr. Carla Kriwet to succeed Rice Powell on January 1, 2023, as Chief Executive Officer of Fresenius Medical Care and member of the Fresenius Management Board
STRATEGY AND GOALS
Our goal is to expand Fresenius' position as a leading global provider of products, services, and therapies for critically and chronically ill people.
Our purpose is to offer ''Ever better medicine for ever more people''. In line with this purpose, Fresenius develops innovative, affordable, and profitable medical solutions for the megatrends of health and demographics. What drives us to achieve top performance every day is our mis- sion: we improve people's lives by providing high-quality and affordable healthcare. Consequently, Fresenius' business decisions are guided by this mission. Our goal is to
expand Fresenius' position as a leading global provider of products, services, and therapies for critically and chronically ill people. At the same time, we want to grow profitably and use our capital efficiently. We have lived up to our special responsibility as part of the healthcare system, even under the difficult circumstances of the current COVID-19 pandemic. With our products, services, and therapies, we have made many important contributions worldwide.
In our view, a significant adjustment of our strategy due to the COVID-19 pandemic is not necessary.
PATH TO ACCELERATED GROWTH
Fresenius has defined a strategic path to pursue accelerated profitable growth and hence to strengthen the Group and each of its business segments by tapping new sources of capital and prioritizing segment capital allocation. All our stakeholders continue to benefit from the advantages of the Group's current structure, which offers stability through diversification as well as efficiency through economies of scale, access to attractive debt financing and tax savings.
All of Fresenius' business segments have excellent market positions and ample meaningful growth opportunities. Properly balancing the objectives of all our stakeholder groups requires an even more targeted approach to capital
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Fresenius SE & Co. KGaA published this content on 06 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2022 16:12:39 UTC.
