Fresenius Medical Care AG & Co. KGaA

Earnings Release • May 6, 2004

News Details

Ad-hoc | 6 May 2004 07:31

Fresenius Medical Care reports First Quarter 2004 results

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Fresenius Medical Care reports First Quarter 2004 results Total revenue for the first quarter 2004 increased 12% (8% at constant currency) to US-Dollar 1,459 million. Dialysis Care revenue grew 12% to US-Dollar 1,058 million (10% at constant currency) in the first quarter of 2004. Dialysis Product revenue (including internal sales) increased 13% to US-Dollar 527 million (4% at constant currency) in the same period. Operating income (EBIT) for the first quarter 2004 was up 17% to US-Dollar 198 million. Net income in the first quarter 2004 was US-Dollar 91 million, an increase of 30%. Earnings per share (EPS) in the first quarter 2004 rose 30% to US-Dollar 0.94 per ordinary share (US-Dollar 0.31 per ADS), compared to US-Dollar 0.72 (US-Dollar 0.24 per ADS) in the first quarter of 2003. The Company generated record first quarter operating and free cash flow levels. Net cash from operations in-creased 37% to US-Dollar 171 million. This performance was ahead of expectations and the net cash from operations represented nearly 12% of total revenue. Free Cash Flow before acquisitions was US-Dollar 130 million up 55%. For the year 2004, the Company expects mid-single digit revenue growth (in constant currency). Net income growth is now expected to be at the high end of the original guidance – which is in the low double digit range. Fresenius AG (WKN 578560, 578563) holds a majority interest in Fresenius Medical Care’s ordinary capital. Fresenius Medical Care AG, Board of Management, Bad Homburg v.d.H., May 6, 2004. end of ad-hoc-announcement (c)DGAP 06.05.2004 ——————————————————————————– WKN: 578580; ISIN: DE0005785802; Index: DAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 060731 Mai 04