Fresenius Medical Care AG & Co. KGaA

Earnings Release • Aug 5, 2003

News Details

Ad-hoc | 5 August 2003 07:40

Fresenius Medical Care english

Fresenius Medical Care AG reports Six Months Results 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Fresenius Medical Care AG reports Six Months Results 2003 Fresenius Medical Care today announced that in the first half of 2003, net income increased 8% to USD 149 million from the first half year of 2002. Net revenue was USD 2.67 billion, up 9%. Currency adjusted, net revenue rose 5.5% in the first half of 2003. The operating income (EBIT) increased 2% to USD 353 million. In the second quarter 2003 the operating income grew by 8% to USD 184 million. In the first half of 2003, earnings per ordinary share rose 8% to USD 1.54. Earnings per ordinary ADS for the first half of 2003 were USD 0.51. Cash from operations during the first six months of 2003 was up 23% or USD 300 million compared to USD 244 million in the first six months of 2002. The Free Cash Flow for the first half of 2003 was USD 222 million compared to USD 154 million in the previous year. As of June 30, 2003, the Company operated a total of 1,510 clinics worldwide. The Company performed approximately 8.7 million treatments, which represents an increase of 9% year over year. At the end of the second quarter 2003 the Company provided treatment to around 115,800 patients worldwide, which represents an increase of 7%. For the year 2003, the Company reconfirms its outlook and expects mid single digit revenue growth (in constant currency) and net income growth in the high single digit to low double digits range. As mentioned in the first quarter of 2003 the Company expects to achieve net income growth for the full year 2003 near the lower end within the predicted range. Fresenius AG (WKN 578 560, 578 563) holds a majority interest in Fresenius Medical Care’s ordinary capital. Fresenius Medical Care AG Board of Management Bad Homburg v.d.H., August 5, 2003 end of ad-hoc-announcement (c)DGAP 05.08.2003 ——————————————————————————– WKN: 578580; ISIN: DE0005785802; Index: DAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 050740 Aug 03