Fresenius Medical says fourth-quarter operating profit up 3%

This post was originally published on this site

By Ludwig Burger

FRANKFURT (Reuters) – Germany’s Fresenius Medical Care (DE:) on Wednesday said quarterly adjusted operating income edged 3% higher as growth in dialysis services and products was partly offset by a negative adjustment for accounts receivable in a legal dispute in North America.

Fourth-quarter earnings before interest and tax, adjusted for special items, advanced to 655 million euros ($707 million), the group said in a statement, coming in below a median analyst estimate of 689 million euros, according to a company-provided poll.

The kidney dialysis provider, controlled by diversified healthcare group Fresenius SE (DE:), reaffirmed a guidance for 2020 revenue and net income to grow at a mid- to high single-digit rate in 2020, when measured without currency swings and excluding special items.

The guidance is based on the adjusted results for 2019, including the acquisition of home dialysis company NxStage, it added.

The group added it was too early to quantify the impact of the coronavirus outbreak in China on its Asia-Pacific operations and that its priority was to continue treating its dialysis patients as well as employee safety.

Asia accounted for 11% of its total quarterly revenue of 4.58 billion euros.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment