Fresenius SE & Co. KGaA

Earnings Release • May 7, 2003

News Details

Ad-hoc | 7 May 2003 07:36

Fresenius AG english

Fresenius Group – 1st quarter 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Fresenius Group – 1st quarter 2003 The Managing Board of Fresenius AG, Bad Homburg v.d.H., informs that on the basis of constant exchange rates, Fresenius increased sales by 7 % in the 1st quarter 2003. The development of the Fresenius Group in the 1st quarter 2003 was substantially affected by the changes in the exchange rates in the currency translation, especially of the US dollar/euro: Due to exchange rate effects, sales in the 1st quarter 2003 amounting to 1,729 million euros at current exchange rates were 7 % lower than the previous year’s figure of 1,854 million euros. The operating profit (EBIT) amounted to 194 million euros and was 11 % lower than in the same period of the previous year (Q1/2002: 217 million euros). At constant exchange rates the Fresenius Group increased operating profit by 2 %. Despite negative exchange rate effects the Fresenius Group rose net income by 29 % in the 1st quarter 2003 to 36 million euros (Q1/2002: 28 million euros). Currency-adjusted, net income of the Fresenius Group increased by 46 %. Earnings in the 1st quarter 2002 have been adjusted according to US GAAP rule SFAS No. 145 to take into account the extraordinary expenses for the early redemption of trust preferred securities of Fresenius Medical Care. Without adjustment of the previous year’s figures, net income would have increased by 9 % (currency- adjusted: 24 %). Earnings per preference share increased by 29 % (currency-adjusted: 46 %) to 0.88 euro following 0.68 euro in the same period of the previous year. Without adjusting the previous year’s figures for the extraordinary expenses, earnings per preference share amounted to 0.80 euro. The Managing Board Bad Homburg v.d.H., May 7, 2003 end of ad-hoc-announcement (c)DGAP 07.05.2003 ——————————————————————————– WKN: 578560; ISIN: DE0005785604; Index: MDAX Listed: Amtlicher Markt in Düsseldorf, Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Hamburg und Stuttgart 070736 Mai 03