Entertainment Fresenius achieves 2020 annual targets - earnings improvements planned

10:05  23 february  2021
10:05  23 february  2021 Source:   finanzen.net

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Fresenius expects earnings to grow faster than sales from 2020 after investments to improve its German hospitals and scale up its home dialysis business eat up profit this year, the German healthcare group said on Wednesday. Investors, who were disappointed last year after the company trimmed its guidance in October and abandoned in 2020 targets in December, were heartened by the outlook and the prospect of a 7 percent increase in the dividend to 0.80 euros per share.

Fresenius Medical (FMS) is banking on its Growth Strategy 2020 plan for gaining market traction in the future. However, lackluster performance in the bourse is a concern. On Oct 9, we issued an updated research report on Bad Homburg, Germany-based Fresenius Medical Care FMS, one of the largest integrated providers of products and services for individuals undergoing dialysis following chronic kidney failure. Fresenius Medical has chalked out a long-term plan called the ‘Growth Strategy 2020 ’ to formulate a few initiatives for gaining solid market traction over the long haul.

The series of negative news continues at the health group Fresenius, which was once used to success.

Ralph Orlowski/Getty Images © Provided by Finanz.net Ralph Orlowski / Getty Images

The hospital and medical group Fresenius wants to reduce its costs because of the stresses caused by the corona pandemic. By the year 2023, the DAX group wants to achieve improvements in earnings after taxes and minority interests of at least 100 million euros annually, as Fresenius announced on Tuesday in Bad Homburg when presenting its annual figures for 2020.

In the following years, additional earnings improvements should then be possible. Initially, however, the group anticipates considerable expenses for the program. These are likely to be in the same range of 100 million euros per year between 2021 and 2023. Fresenius wants to book these as special items. Last year, due to the pandemic, the group posted a 4 percent drop in adjusted earnings to just under 1.8 billion euros.

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Fresenius Group: Medium-term Growth Targets 2020 – 2023 (CAGRs). Foliennummer 16. Our ESG Priorities: Patients, Employees and Compliance. ESG Rating Overview: Continuous Improvement through Reporting and Engagement. Fresenius Kabi: Launch of Idacio in Europe Progresses According to Plan . Fresenius Kabi: Divisionalization of Transfusion Medicine and Cell Therapies Business Fuels Growth. Fresenius Helios: Germany to Show Ongoing Stabilization in FY/20.

Fresenius expects the acquisition to prove accretive to earnings within three years from deal closure. Furthermore, the deal is expected to provide annual pretax cost savings of million to 0 million over the next three to five years. We believe this is in tune with the ‘Growth Strategy 2020 ’, under which it aims to boost revenues to billion by 2020 , corresponding to an average annual growth rate of around 10%. A wide range of dialysis products, initiatives to gain market traction, strengthen international foothold, strategic acquisitions and divestments act as major catalysts for the company.

The subsidiary Fresenius Medical Care is also working on its costs. In order to reduce this sustainably, the dialysis provider is investing up to 500 million euros in the renovation by 2025. For every euro invested, the company expects an improvement in the operating result by at least the same amount in 2025./tav/stk

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Fresenius achieves 2020 annual targets

Der Health care group achieved its goals last year despite ongoing COVID-19 pollution. As the Bad Homburg DAX group announced, net profit adjusted for currency and special factors decreased by 4 percent to 1.796 billion euros in 2020 as a whole. Here, Fresenius had targeted growth at the lower end of the range of minus 4 percent to plus 1 percent compared to the previous year.

Sales increased by 5 percent after adjusting for currency effects to 36.3 billion euros. Fresenius SE & Co KGaA had set itself the target of an adjusted increase of between 3 and 6 percent compared to the previous year's figure of 35.4 billion euros.

In the final quarter of 2020, sales remained at 9.3 billion euros. Adjusted for currency effects, growth was 5 percent. EBIT before special items was 1.251 billion euros. This corresponds to a decrease of 3 percent or a currency-adjusted increase of 2 percent. Adjusted profit after taxes and third parties decreased by 2 percent (currency-adjusted plus 2 percent) to 494 million euros.

BAD HOMBURG / FRANKFURT (dpa-AFX / Dow Jones Newswires)

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