Stop parsing PDFs. Get the API. Request Access

AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

Fresenius SE & Co. KGaA

Investor Presentation • Sep 18, 2014

166_ip_2014-09-18_e9e4a85b-dcc5-4299-b324-b89181c04a9a.pdf

Investor Presentation

Open in Viewer

Opens in native device viewer

Health Care Worldwide

Credit Suisse – Global Credit Products ConferenceSeptember 18, 2014 – Miami

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, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements contained in this presentation.

Agenda

  • Company Overview
  • Business Segments
  • Fresenius Medical Care
  • Fresenius Kabi
  • Fresenius Helios
  • Fresenius Vamed

Outlook

Appendix

Company Overview

Fresenius Group: Strong and Balanced Health Care Portfolio

Market Cap. €17.0 bn

1 – LTM June 30, 2014

2 – Before Fenwal integration costs

Fresenius Group: Sales by Region – H1/2014

Fresenius Group: Financial Results

1 – Before one-time items

2 – 2013 excluding Fenwal integration costs of €54 million

2009 2010 2011 2012 20133 – Incl. attributable to non-controlling interest; 2013 excluding Fenwal integration costs of €40 million

Fresenius Group: Organic Growth

Fresenius Group:

Sustainable Organic Sales Growth in all Business Segments

Fresenius Medical Care

Credit Suisse Global Credit Products Conference, September 18, 2014 © Copyright Page 9

Fresenius Vamed

Fresenius Kabi

Fresenius Group: Consistent Cash Generation and Proven Track Record of Deleveraging

%

FCF margin (before acquisitions & dividends)

1 - Pro Forma excluding advances made for the acquisition of hospitals of Rhön-Klinikum; before Fenwal integration costs

1

Fresenius Group: Ideal Strategic Posture to Benefit from Major Healthcare Trends

Aging population and higher incidence of chronic diseases

World population aged 60+ will more than double by 2050 to >2 bn (OECD)

Increasing health care spending in emerging markets

Increasing health care coverage and per capita spending (e.g. India: \$59, China: \$278, vs. USA: \$8,608; WHO)

Continuing growth of generics

Approx. \$19 bn branded IV drug sales (base: 2013) go off-patent in the U.S. by 2023

Rise of private providers in health care services

Further privatization of German hospital market Global opportunity to provide dialysis services (e.g. China, India)

Business Segments

Fresenius Medical Care: Global Market Leader in Dialysis

  • World leader in dialysis products and services treating 280,942 patients in 3,335 clinics worldwide1
  • Provide highest standard of patient care
  • Vertical integration
  • High quality products & services
  • Complete therapy offerings
  • Leader in growing market
  • Dialysis market growing 4% cc and estimated to reach around \$100 bn by 2020
  • Patient growth driven by age, life style and mortality reduction

Industry Dynamics

~6% global patient growth p.a. ~3.8 million patients by 2020 expected

1 – as of June 30, 2014

Fresenius Medical Care: Key Figures

i
l
l
i
€
m
o
n		 /
H
1
2
0
1
4		 H
1
Y
Y
o		 F
Y
2
0
1
3		 F
Y
Y
Y
o
S
l
a
e
s		 8
7
3
9
,		 %
5
+		 1
4
6
1
0
,		 1
%
6
+
E
B
I
T
D
A		 3
3
1
7		 %
1		 2
9
0
4		 %
1
i
E
B
I
T
D
A
m
a
r
g
n		 ,
%
1
8
1		 -
b
1
0
0
p
-		 ,
%
1
9
9		 -
b
1
3
0
p
-
E
B
I
T		 1
0
0
1		 %
4
-		 2
2
5
6		 %
3
-
i
E
B
I
T
m
a
r
g
n		 ,
%
1
3
5		 b
1
2
0
p
-		 ,
%
1
5
4		 b
1
5
0
p
-
N
i
t
e
n
c
o
m
e
Co
G
t
tr
to
F
M
E
&
K
a		 4
3
9		 1
0
%
-		 1
1
1
0
,		 1
%
-

1 – 5% organic growth, 1% net acquisitions

Fresenius Kabi: A Worldwide Leading Hospital Supplier

  • Comprehensive product portfolio for critically and chronically ill patients
  • IV Drugs
  • Clinical Nutrition
  • Infusion Therapy
  • Medical Devices/Transfusion Technology
  • Leading market positions
  • Focus on organic growth
  • geographic product roll-outs
  • solid product pipeline
  • Incremental expansion of existing business lines through selective acquisitions

2013 Sales by Region

Fresenius Kabi: Profitability Improvement

1 – 2013 adjusted for Fenwal integration costs

Fresenius Kabi: Key Figures

i
l
l
i
€
m
o
n		 /
H
1
2
0
1
4		 H
Y
Y
1
o		 F
Y
2
0
1
3		 F
Y
Y
Y
o
S
l
a
e
s		 2
4
6
6
,		 %
2
-		 4
9
9
6
,		 2
%
1
0
+
f
h
I
i
T
n
u
s
o
n
e
r
a
p
y
-
I.
V
D
r
u
g
s
-
C
l
i
i
l
i
i
N
t
t
n
c
a
u
r
o
n
-
d
l
/
M
i
D
i
e
c
a
e
s
e
s
v
-
f
h
l
T
i
T
a
n
s
s
o
n
e
c
n
o
o
g
r
u
y		 4
7
6
8
6
8
6
6
2
4
6
0		 5
%
-
3
%
-
0
%
1
%
-		 9
8
0
3
3
1,
7
3
3
2
1,
9
5
1		 3
%
-
2
%
+
%
1
+
8
5
%
+
1
E
B
I
T
D
A		 5
1
3		 %
1
1
-		 1
1
4
3
,		 %
4
+
E
B
I
T
D
A
i
m
a
r
g
n		 2
0
8
%		 2
0
0
b
p
-		 2
2
9
%		 1
4
0
b
p
-
1
E
B
I
T		 4
1
1		 1
2
%
-		 9
2
6		 1
%
-
E
B
I
T
i
m
a
r
g
n		 %
1
6
7		 9
b
1
0
p
-		 8
%
1
5		 2
b
1
0
p
-
1
N
i
t
e
n
c
o
m
e		 2
1
7		 1
0
%
-		 4
8
7		 1
0
%
+

attr. to Kabi AG

1 – before one time costs

2 – 5% organic growth, -4% currency effect, 9% net acquisitions

Fresenius Helios: Leading Private Hospital Operator in Germany

  • Acute and post-acute care in 111 proprietary hospitals1
  • High-quality medical care (e.g., mortality rate for heart failure and pneumonia >30% below German average)
  • Strong track record in hospital operations and acquisitions: targeting 12 − 15% EBIT margin within 6 years per individual clinic location
  • Landmark acquisition of 41 hospitals from Rhön-Klinikum provides excellent long-term growth opportunities

Majority of population has access to a HELIOS hospital within one hour's drive

2013 Sales: €3,393 m; EBIT: €390 m

Fresenius Helios: Key Figures

i
l
l
i
€
m
o
n		 /
H
1
2
0
1
4		 H
1
Y
Y
o		 F
Y
2
0
1
3		 F
Y
Y
Y
o
S
l
a
e
s		 2
5
2
1
,		 %
4
9
+		 3
3
9
3
,		 1
%
6
+
E
B
I
T
D
A		 3
4
4		 %
4
6
+		 0
8
5		 8
%
1
+
i
E
B
I
T
D
A
m
a
r
g
n		 %
1
3
6		 b
3
0
p
-		 %
1
5
0		 b
1
5
0
+
p
E
B
I
T		 2
5
0		 %
4
0
+		 3
9
0		 %
2
1
+
E
B
I
T
i
m
a
r
g
n		 9
9
%		 b
7
0
p
-		 1
1.
5
%		 b
1
4
0
p
+
N
i
t
e
n
c
o
m
e		 9
1
7		 0
%
5
+		 2
7
5		 3
%
5
+

1 – 3% organic growth, 3% net acquisitions

Fresenius Vamed:

A Leading Global Specialist in Hospital Projects and Services

  • Specialized in project development building hospital infrastructure and providing hospital services (technical services and operational management)
  • Track record:

    • 650 health care projects in 72 countries successfully completed

    • Services provided to 140 hospitals and 50,000 beds globally
  • Continuous demand for hospital infrastructure and operating efficiency; key markets Europe, Asia-Pacific, Africa

Fresenius Vamed: Key Figures

i
l
l
i
€
m
o
n		 /
H
1
2
0
1
4		 H
Y
Y
1
o		 F
Y
2
0
1
3		 F
Y
Y
Y
o
S
l
a
e
s		 8
3
9		 %
5
-		 1
0
2
0
,		 1
%
2
1
+
E
B
I
T
D
A		 2
0		 %
5
+		 6
5		 1
0
%
+
E
B
I
T
D
A
i
m
a
r
g
n		 %
5
0		 b
5
0
p
+		 %
6
4		 b
6
0
p
-
E
B
I
T		 1
5		 0
%		 5
5		 8
%
+
i
E
B
I
T
m
a
r
g
n		 %
3
8		 b
2
0
+
p		 %
5
4		 b
6
0
p
-
N
i
t
e
n
c
o
m
e		 1
0		 %
1
1
+		 3
7		 %
6
+
2
d
k
O
i
t
e
n
a
e
r
r		 3
0
0		 %
4
-		 7
4
4		 3
%
1
+
2
d
b
k
l
O
e
a
c
o
g
r
r		 1
2
6
2
,		 1
1
%
+		 1
1
3
9
,		 1
%
5
+

1 – 13% organic growth, 8% net acquisitions

2 – project business only

Investment Highlights

Leading market positions

Diversified revenue base with four strong business segments

Global presence in growing, non-cyclical markets

Proven ability to integrate acquisitions

Clear track record of and commitment to de-leveraging

Strong financial performance and cash flow generation

Summary and Outlook

Fresenius Medical Care: Financial Outlook

d
R
t
e
p
o
r
e
2
0
3
1		 G
i
d
u
a
n
c
e
2
0
1
4
S
l
a
e
s		 \$
1
4
6
1
0
,		 \$
1
5
2
0
0
~
,
N
I
t
e
n
c
o
m
e		 \$
1,
1
1
0		 \$
b
1
0
1
0
5
n
-
/
D
b
E
B
I
T
D
A
t
e		 2
8
x		 3
0
x
~
  • Outlook excludes potential net costs savings of up to \$60 million before taxes for 2014
  • Investments in quality/compliance systems and legal cost to continue to comply with standards
  • Outlook excludes revenue contribution from acquisitions of ~ \$500 million

Fresenius Group: 2014 Financial Outlook by Business Segment

O
l
d		 N
e
w
i
F
r
e
s
e
n
u
s
K
b
i
a		 l
h
S
t
i
a
e
s
g
o
r
w
o
g
n
r
a
c
i
E
B
I
T
m
a
r
g
n		 4
%
6
%
–
6
%
8
%
1
5
1
–
i
F
r
e
s
e
n
u
s
1
H
l
i
e
o
s		 l
h
S
t
i
a
e
s
g
r
o
w
o
g
a
n
c
r
l
b
d
S
i
i
i
t
t
a
e
s
c
o
n
o
n
a
c
q
e
r
u
u
r
h
l
i
t
o
s
p
a
s
S
l
h
i
d
t
e
g
o
q
e
a
s
r
w
a
c
u
r
h
l
i
t
i
o
s
p
a
s
o
g
a
n
c
r
E
B
I
T
H
l
i
R
h
ö
h
i
l
t
+
e
o
s
n
o
s
p
a
s		 3
%
5
%
–		 b
€
1
8
n
~
3
%
%
5
–
€
5
4
0
5
6
0
m
–
F
i
r
e
s
e
n
u
s
V
d
a
m
e		 l
h
S
t
i
a
e
s
g
r
o
w
o
g
a
n
c
r
h
E
B
I
T
t
g
o
r
w		 5
%
1
0
%
–
5
%
1
0
%
–

1 - Before integration costs for acquired hospitals and disposal gains (two HELIOS hospitals; Rhön stake )

Fresenius Group: Financial Outlook

O
l
d		 1
N
e
w
h
R
t
e
e
n
e
g
o
v
u
r
w
t
t
t
a
c
o
n
s
a
n
c
e
n
c
u
r
r
y		 1
2
%
1
%
5
‒		 1
%
1
6
%
4
‒
2
h
N
i
t
t
e
n
c
o
m
e
g
o
r
w
t
t
t
a
c
o
n
s
a
n
c
u
r
r
e
n
c
y		 2
%
%
5
‒
d
b
/
N
E
B
I
T
D
A
t
t
e
e		 3
0
3
2
5
x
‒		 3
2
5
x
~
  • 1 Following acquisitions at Fresenius Medical Care
  • 2 Net income attributable to shareholders of Fresenius SE & Co.KGaA before integration costs (Fenwal; acquired Rhön hospitals) and disposal gains (two HELIOS hospitals; Rhön stake). Guidance includes acquired Rhön hospitals

Fresenius Group: Attractive Mid-Term Growth Prospects

Stretch Target for 2017 ~€30 billion sales€1.4 to €1.5 billion net income

Strong and Balanced Health Care Portfolio

Appendix

Fresenius Group: Financial Results

S
l
a
e
s		 1
E
B
I
T		 2
N
i
t
e
n
c
o
m
e
/
H
1
2
0
1
4		 €
1
0
7
3
3
m
,		 €
1
4
0
3
m
,		 €
7
8
8
m
h
G
t
t
t
t
r
o
w
a
c
o
n
s
a
n
t
c
u
r
r
e
n
c
y
r
a
e
s		 1
2
%		 0
%		 1
%
-
G
h
l
t
t
t
o
a
a
c
a
r
w
u
t
c
e
n
c
a
e
s
u
r
r
y
r		 7
%		 3
%
-		 3
%
-

1 - 2014 before integration costs (Fenwal: €3 million; acquired Rhön hospitals: €8 million) and disposal gains (two Helios hospitals: €22 million; Rhön stake: €35 million); 2013 before integration costs (Fenwal: €27 million)

2 - Incl. attributable to non-controlling interest; 2014 before integration costs (Fenwal: €2 million; acquired Rhön hospitals: €6 million) and disposal gains (two Helios hospitals: €21 million;

Rhön stake: €34 million); 2013 before integration costs (Fenwal: €20 million)

Fresenius Group: Financial Results by Business Segment

/
H
1
2
0
1
4		 i
F
r
e
s
e
n
s
u
d
i
l
C
M
e
c
a
a
r
e		 i
F
r
e
s
e
n
s
u
b
i
K
a		 i
F
r
e
s
e
n
s
u
l
i
H
e
o
s		 i
F
r
e
s
e
n
s
u
d
V
a
m
e
S
l
e
a
s
G
h
t
o
r
w		 \$
7
3
9
8
m
,
%
5		 €
2
6
6
4
m
,
2
%
-		 €
2
2
5
1
m
,
9
%
4		 €
3
9
8
m
%
5
-
E
B
I
T
h
G
t
o
r
w		 \$
1
0
0
1
m
,
4
%
-		 1
€
1
1
4
m
1
2
%
-		 2
€
2
0
5
m
4
0
%		 €
1
5
m
0
%

1 - 2014 before integration costs of (Fenwal: €3 million); 2013 before integration costs (Fenwal: €27 million)

2 - 2014 before integration costs (acquired Rhön hospitals: €8 million) and disposal gains (two Helios hospitals: €22 million; Rhön stake: €35 million)

Fresenius Group: Demonstrated Strong Sales and EBITDA Growth

1 – Before one-time items

Fresenius Group: Key Figures H1/2014

€
i
l
l
i
m
o
n		 /
H
1
2
0
1
4		 /
H
1
2
0
1
3		 C
h
a
n
g
e
l
t
a
c
u
a
t
r
a
e
s		 C
h
a
n
g
e
t
t
c
o
n
s
a
n
t
r
a
e
s
S
l
a
e
s		 1
0
7
3
3
,		 8
9
9
7
,		 1
%
7
+		 %
1
2
+
2
E
B
I
T
D
A		 1
8
5
4
,		 1
8
6
0
,		 %
0		 %
3
+
2
E
B
I
T		 1
4
0
3
,		 1
4
4
8
,		 3
%
-		 0
%
I
t
t,
t
n
e
e
n
e
r
s		 2
8
3
-		 3
3
1
-		 0
%
1
+		 6
%
+
2
E
B
T		 1
1
2
0
,		 1
1
3
5
,		 %
1
-		 %
1
+
T
a
e
s
x		 3
3
2
-		 3
2
3
-		 3
%
-		 7
%
-
3,
4
N
i
t
e
n
c
o
m
e		 8
8
7		 8
1
2		 %
3
-		 %
1
-
E
l
m
p
o
y
e
e
s		 2
0
9
9
3
3
,		 5
3
3
2
1
7
5
,

1 – 3% organic growth, 9% acquisitions, -5 % currency effect

2 – 2014 before integration costs (Fenwal: €3 million; acquired Rhön hospitals: €8 million) and disposal gains (two Helios hospitals: €22 million; Rhön stake: €35 million); 2013 before integration costs (Fenwal: €27million)

3 – 2014 before integration costs (Fenwal: €2 million; acquired Rhön hospitals: €6 million) and disposal gains (two Helios hospitals: €21 million; Rhön stake: €34 million); 2013 before integration costs (Fenwal: €20million) 4 – incl. attributable to non-controlling interest 5 – as of June 30, 2013

Fresenius Group: Cash Flow H1/2014

€
l
l
i
i
m
o
n		 /
H
2
0
1
1
4		 M
i
a
r
g
n		 /
H
2
0
3
1
1		 M
i
a
r
g
n		 G
h Y
t
r
o
w
Y
o
O
i
C
h
F
l
t
p
e
r
a
n
g
a
s
o
w		 7
5
0		 7
0
%		 9
4
7		 9
5
%		 2
1
%
-
C
(
)
t
a
p
e
x
n
e		 5
3
2
-		 5
0
%
-		 4
1
6
-		 4
2
%
-		 2
8
%
-
C
h
l
F
F
r
e
e
a
s
o
w
(
b
f
d
d
d
d
)
i
i
i
i
i
t
e
o
e
a
c
q
s
o
n
s
a
n
e
n
s
r
u
v		 2
1
8		 %
2
0		 5
3
1		 %
5
3		 %
5
9
-
i
i
i
A
t
(
)
t
c
q
u
s
o
n
s
n
e		 0
3
6
1,
-		 7 --
d
d
D
i
i
e
n
s
v		 4
5
7
-		 6
4
4
-		 2
%
-
C
h
l
F
F
r
e
e
a
s
o
w
(
f
d
d
d
d
)
i
i
i
i
i
t
t
a
e
a
c
q
s
o
n
s
a
n
e
n
s
r
u
v		 1
2
7
5
-
,		 %
1
1
9
-		 9
2		 %
0
9		 --

Cash Flow Development LTM

€
l
l
i
i
m
o
n		 O
p
e
r
a		 i
C
F
t
n
g		 (
)
t
x
n
e		 C
F
r
e
e
a		 1
h
l
F
s
o
w
L
T
M
H
/
1
1
4		 L
T
M
M
in
a
rg		 L
T
M
H
/
1
1
4		 L
T
M
M
in
a
rg		 L
T
M
H
/
1
1
4		 L
T
M
M
in
a
rg
4
6
5		 9
4
%		 3
3
5
-		 6
8
%
-		 1
3
0		 2
6
%
3
8
3		 9
1
%		 2
0
4
-		 4
9
%
-		 1
7
9		 3
4
2
%
3
4
-		 3
%
4
-		 0
1
-		 0
%
1
-		 4
4
-		 %
4
4
-
/
Co
te
rp
or
a
O
he
t
r		 7 /
n
a		 6
-		 /
n
a		 1 /
n
a
l.
F
M
C
ex
c		 8
2
1		 2
%
8
8		 5
5
5
-		 %
5
4
-		 2
6
6		 2
%
3
4
G
ro
up		 2
2
3
1
,		 0
%
1
1		 3
1
1
6
-
,		 %
5
5
-		 9
0
6		 %
4
6

1 - Before Acquisitions and Dividends

2 - Incl. FMC dividend

3 - Understated: 5.3% excluding €44 million of capex commitments from acquisitions

Credit Suisse Global Credit Products Conference, September 18, 2014 © Copyright Page 34

Margin = in % of sales

Financing Facilities and Debt Structure

Fresenius Group: Current Debt and Cash Flow Structure as of June 30, 2014

  • 1 External net debt as of June 30, 2014
  • 2 Incl. Fresenius Finance B.V. and other financing subsidiaries

  • 3 Controlling stake

  • 4 As held by Fresenius ProServe GmbH, a wholly owned subsidiary of Fresenius SE & Co. KGaA, which provides the guarantees

  • 5 Incl. subsidiaries

Fresenius Group: Proven Track Record of Deleveraging

2 – Pro forma incl. APP Pharmaceuticals Inc., before APP-transaction related special items

3 – Pro forma incl. Damp Group, Liberty Dialysis Holdings, Inc. and Fenwal, adjusted for €6 million one-time costs related to the 2012 takeover offer to Rhön-Klinikum AG shareholders as well as for €86 million other one-time costs at FME

4 – Pro forma excluding advances made for the acquisition of hospitals and outpatient facilities of Rhön-Klinikum AG; before Fenwal integration costs

5 – Pro forma including acquired hospitals from Rhön-Klinikum. Before integration costs for Fenwal and disposal gains from the divestment of two Helios hospitals

6 – Pro forma including acquired Rhön hospitals and excluding two Helios hospitals; before integration costs (Fenwal; acquired Rhön hospitals) and disposal gains (two Helios hospitals; Rhön stake)

Fresenius Group: Debt Maturity Profile June 30, 20141

Fresenius Group: Credit Rating Development

Health Care Worldwide

More from Fresenius SE & Co. KGaA

Declaration of Voting Results & Voting Rights Announcements 2025
Nov 17
Declaration of Voting Results & Voting Rights Announcements 2025
Nov 14
Report Publication Announcement 2025
Nov 6
Quarterly Report 2025
Nov 6
Interim / Quarterly Report 2025
Aug 6
Investor Presentation 2025
Aug 6
Declaration of Voting Results & Voting Rights Announcements 2025
Jul 4
Declaration of Voting Results & Voting Rights Announcements 2025
Jun 20
Governance Information 2025
May 23
Quarterly Report 2025
May 7
View all filings →

Talk to a Data Expert

Have a question? We'll get back to you promptly.