Fresenius SE 2Q Sales EUR10.02B

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Corrections & Amplifications

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This headline was corrected at 0510 GMT because the reporting period was misstated as first quaerter.

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Corrections & Amplifications

This headline was corrected at 0510 GMT because the reporting period was misstated as first quaerter.

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Corrections & Amplifications

This headline was corrected at 0510 GMT because the reporting period was misstated as first quaerter.

By Ed Frankl

Fresenius SE said Tuesday that second-quarter profits fell, buffeted by “significantly worsening” business at its subsidiary Fresenius Medical Care AG and a challenging macroeconomic situation.

Last week, the German healthcare company cut its guidance for the year after its 32%-owned subsidiary FMC said it would lower its outlook due to US labor shortages and a worsening economic environment.

Fresenius’s net income in the three months to the end of June fell 5% to 450 million euros ($461.8 million), though its sales climbed 8% to EUR10.02 billion.

Dialysis-care company FMC said its net income fell almost 40% to EUR147 million, while revenue rose 10% to EUR4.76 billion.

Fresenius Kabi, a drug-making subsidiary, had solid organic sales growth, while its Helios private-hospital operator continued good admissions growth at its German and Spanish markets, Fresenius said.

The Bad Homburg-based company confirmed its lowered guidance issued on July 27 of sales growth in a low-to-mid single-digit percentage range at constant currency, anticipating more pronounced headwinds in 2022 from supply-chain disruptions and cost inflation, including energy prices.

Write to Ed Frankl at [email protected]

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Credit: www.marketwatch.com /

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