Investor Presentation • Oct 31, 2007
Investor Presentation
Open in ViewerOpens in native device viewer
Analyst Meeting, October 31, 2007
This presentation includes certain forward-looking statements. Actual results could differ materially from those included in the forward-looking statements due to various risk factors and uncertainties, including changes in business, economic competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings and the availability of financing. These and other risks and uncertainties are detailed in the Company's reports filed with the Securities and Exchange Commission and the German Exchange Commission "Deutsche Börse".
1. Business Update
2. Financials and Outlook
3. Q&A Session
* including clinics where FME has an interest of at least 10%
| ( lu d ing im i in ) -t te 2 0 0 6 ex c o ne e ms |
||
|---|---|---|
| R e v e n u e |
\$ 2 4 2 6 m , |
9 % + |
| N i t e n c o m e |
\$ 1 8 1 m |
2 7 % + |
| E i h a r n n g s p e r s a r e |
\$ 0 6 1 |
2 8 % + |
| \$ i i l l i n m o n s |
Q 3 2 0 0 6 |
Q 3 2 0 0 7 |
G h t r o w |
c c |
|---|---|---|---|---|
| 1) N h A i t o r m e r c a |
1 4 4 5 , |
1 4 9 4 , |
3 % |
|
| I i l t t n e r n a o n a |
2 3 2 |
3 0 7 |
3 2 % |
2 3 % |
| 1) T l t o a |
1 6 7 7 , |
1 8 0 1 , |
% 7 |
% 6 |
X Continued strong growth in Europe of 10%cc (9% organic) and Asia-Pacific of 151%cc (19% organic), y-o-y
1) Q3 2006 revenue adjusted for sale of perfusion business in the amount of US\$ 27 m cc = constant currency
| Q 3 2 0 0 7 |
T l t o a |
N h A i t o r m e r c a |
I i l t t n e r n a o n a |
|---|---|---|---|
| O i h t r g a n c r e e n e g r o v u w |
% 5 + c c |
3 % + |
1 2 % + c c |
| S k h t t t t t a m e m a r e r e a m e n g r o w |
3 6 % + |
3 0 % + |
4 9 % + |
| R t t t e e n e p e r r e a m e n v u |
1) \$ 3 2 3 |
\$ 1 5 3 |
|
| G h t r o w |
1 % + |
7 % + c c |
|
| T ( i i l l i ) t t r e a m e n s n m o n |
6 6 |
4 6 |
2 0 |
| G h t r o w |
6 % + |
3 % + |
1 4 % + |
1) including Mexico
cc = constant currency
1)
| N t h o r |
A i m e r c a |
E | M E A |
|
|---|---|---|---|---|
| f F M E i % t t o p a e n s |
Q 3 2 0 0 6 |
Q 3 2 0 0 7 |
Q 3 2 0 0 6 |
Q 3 2 0 0 7 |
| / ≥ 1 2 K t V |
9 % 5 |
9 % 5 |
9 3 % |
9 4 % |
| H l b i ≥ 1 1 / d l e m o g o n g |
8 1 % |
% 8 0 |
6 8 % |
% 7 3 |
| A l b i ≥ 3 / d l 5 u m n g |
8 0 % |
8 0 % |
8 7 % |
8 % 5 |
| H i t l i t i d o s p a a o n a s z y |
1 1 5 |
1 1 1 |
7 5 |
7 6 |
X North America: 2 days reduction in hospitalization since 2004
Focuses on quality outcomes for patients in line with K/DOQI guidelines
Data Source: Clinical Performance Management (CPM) Data / Legacy FME U.S. clinics
| \$ i i l l i n m o n s |
Q 3 2 0 0 6 |
Q 3 2 0 0 7 |
G h t r o w |
c c |
|---|---|---|---|---|
| T l t o a r e e n e v u ( i l. I l R ) t n c n e r n a e e n e v u |
0 7 7 |
8 2 1 |
1 6 % |
1 1 % |
| E l t e r n a r e e n e x v u |
5 3 0 |
6 2 5 |
1 8 % |
1 2 % |
| N h A i t o r m e r c a |
1 4 1 |
1 6 7 |
1 8 % |
1 8 % |
| I i l t t n e r n a o n a |
3 8 9 |
4 5 9 |
1 8 % |
9 % |
cc = constant currency
* Excluding one-time items. A reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
being up +79%, y-o-y
X Strong growth in products above market at 17%, y-o-y (8%cc)
X 5008 HD machine unit sales up 135%, y-o-y
X Strong product sales growth of 14%cc
X Strong Revenue/treatment despite EPO discussion
X Service Growth in Eastern Europe of 18%cc, ytd
X Strong treatment growth in Q3 of 119% (14% excl. Jiate Excelsior)
| Q l i t a u y |
X D i i i l i i d d i t t r n g s p e r o r q a n p r o c s a n s e r c e s v u u y u v |
|---|---|
| G h t r o w |
X A l d d l t t c c e e r a e e n o v o e v e o p m e n s X F i d h t t t t o c s o n o r g a n c r e e n e a n p e r r e a m e n g r o u v u w |
| G h t r o w D i r e r s v |
X S I d P d M k h t t n c r e a s e r o c a r e a r e u X Q R i b B d l i t t e m u r s e m e n a s e o n u a y X C E i f l i i N k t p a n s o n o n c e o r x w X R l P h e n a a r m a |
| \$ i i l l i n m o n s |
Q 3 2 0 0 6 |
Q 3 2 0 0 7 |
G h t r o w |
|---|---|---|---|
| * | |||
| N t e r e e n e v u |
2 2 3 4 , |
2 4 2 6 , |
9 % |
| 2) O ( ) i i E B I T t p e r a n g n c o m e |
3 5 5 |
3 9 7 |
1 2 % |
| E B I T i i % m a r g n n |
1 5 9 |
1 6. 4 |
|
| 2) I t t t n e r e s e x p e n s e, n e |
1 0 0 |
9 5 |
|
| 2) f I b i t n c o m e e o r e n c o m e a x |
2 5 5 |
3 0 2 |
1 8 % |
| 2) I T n c o m e a x e x p e n s e |
1 0 8 |
1 1 5 |
|
| T t a x r a e |
4 2 % |
% 3 8 |
|
| M i i i t t t n o r n e r e s y |
4 | 6 | |
| 2) N i t e n c o m e |
1 4 3 |
1 8 1 |
2 7 % |
* 6% growth at constant currency, 6% organic growth
1) Excluding one-time items in 2006
2) A reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
| \$ i i l l i n m o n s |
M 9 2 0 0 6 |
9 M 2 0 0 7 |
G h t r o w |
|---|---|---|---|
| * | |||
| N t e r e v e n u e |
6 1 4 7 , |
7 1 5 1 , |
1 6 % |
| 2) O i i ( E B I T ) t p e r a n g n c o m e |
9 3 6 |
1 1 5 2 , |
2 3 % |
| E B I T i i % m a r g n n |
1 2 5 |
1 6. 1 |
|
| 2) I t t t n e r e s e x p e n s e, n e |
2 4 1 |
2 8 1 |
|
| 2) I b f i t n c o m e e o r e n c o m e a x |
6 9 5 |
8 7 1 |
2 % 5 |
| 2) I T n c o m e a e p e n s e x x |
2 8 0 |
3 3 1 |
|
| T t a r a e x |
4 0 % |
3 8 % |
|
| M i i i t t t n o r y n e r e s |
1 0 |
2 0 |
|
| 2) N i t e n c o m e |
4 0 5 |
5 2 0 |
2 8 % |
* 14% growth at constant currency, 7% organic growth
1) Excluding one-time items in 2006
2) A reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
North America
in %
* Excluding one-time items
| \$ i i l l i n m o n s |
Q 3 2 0 0 6 |
Q 3 2 0 0 7 |
G h t r o w |
|---|---|---|---|
| ) 1 N h i d d b i i i i t t t t e c a s p r o e o p e r a n g a c e s v y v |
2 6 1 |
3 8 2 f r 1 5. 8 % o ev en ue |
4 7 % |
| 1) C i l d i t t ( ) a p a e x p e n u r e s t n e |
( ) 1 1 3 |
( ) 1 2 3 |
|
| F C h F l r e e a s o w |
1 4 8 |
2 9 5 |
7 4 % |
| 1) A i i i f d i i t t t t c q s o n s n e o e s r e s u v u , |
( ) 1 0 |
( 2 4 ) |
|
| C F h F l f i i i t t r e e a s o w a e r a c q u s o n s |
1 3 8 |
2 3 5 |
1) A reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
| \$ i i l l i n m o n s |
M 9 2 0 0 6 |
9 M 2 0 0 7 |
G h t r o w |
|---|---|---|---|
| 1) N h i d d b i i i i t t t t e c a s p r o v e y o p e r a n g a c v e s |
6 6 3 |
8 9 0 f r 1 2. 4 % o ev en ue |
3 4 % |
| 1) C i l d i t t ( ) a p a e x p e n u r e s t n e |
( ) 2 3 7 |
( ) 3 6 4 |
|
| C F h F l r e e a s o w |
3 9 0 |
2 6 5 |
3 5 % |
| 1) f A i i i d i i t t t t c q s o n s n e o e s r e s u v u , |
( ) 4 4 |
( 1 1 0 ) |
|
| C f F h F l i i i t t r e e a s o w a e r a c q u s o n s |
3 4 6 |
4 1 6 |
1) A reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
* including non-cash charges and excluding restructuring costs, in-process R&D and gain from the sale of dialysis clinics. A reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
CAGR =16%
| \$ i i l l i n m o n s |
G i d a n c e u |
|---|---|
| N R t e e v e n u e s |
\$ 9 5 0 0 > , |
| N I t e n c o m e |
\$ 6 8 0 5 7 5 - |
| L i t e e r a g e r a o v ( / ) D b E B I T D A t e |
3 0 < |
| C E d i i i t a p a n a c q s o n s x u |
\$ 6 0 5 ~ |
X Clearly on Track for the Upper End of Net Income Guidance
X Leverage Ratio Target already Achieved after Nine Months
Analyst Meeting, October 31, 2007
| D b t e |
Q 3 2 0 0 7 |
F Y 2 0 0 6 |
F Y 2 0 0 5 |
F Y 2 0 0 4 |
F Y 2 0 0 3 |
|---|---|---|---|---|---|
| 1) S ho t te bo ing ( inc l. A / R ) r rm rro w s p ro g ra m |
7 6 |
3 3 1 |
1 5 1 |
4 1 9 |
9 0 |
| S ho bo ing fro la d p ies t te te t + r rm rro w s m re ar |
4 6 |
5 | 1 9 |
6 | 3 0 |
| Cu ion f lon de b d c i l lea b l ig ion t p t te t a ta t + rre n or o g- rm n ap se o a s |
4 6 |
1 6 0 |
1 2 6 |
2 3 0 |
9 0 |
| Cu f fe Se t p t ion Tr t Pr d i t ies + rre n or o us e rre cu r |
6 6 5 |
||||
| Lo -te de b t a d c i ta l lea b l ig t ion les t p t ion + ng rm n ap se o a s, s c ur re n or |
4, 0 3 2 |
3, 8 2 9 |
7 0 7 |
5 4 5 |
1, 1 1 2 |
| Tr Pr fe d Se i ies ( f c ion ) t t t o t p t + us e rre cu r ne ur re n or |
6 4 8 |
1, 2 4 5 |
1, 1 8 8 |
1, 2 9 7 |
1, 2 4 2 |
| Ac iva b le i iza ion ts t t + co un rec e se cu r p ro g ra m |
0 | 0 | 0 | 0 | 1 8 5 |
| To l de b ta t = |
1 3 5, 5 |
9 5, 5 7 |
2, 1 9 1 |
2, 4 9 7 |
2, 2 2 7 |
All numbers are in \$ millions
| E B I T D A |
2) Q 3 2 0 0 7 |
2) F Y 2 0 0 6 (pr o f ) orm a |
F Y 2 0 0 5 |
F Y 2 0 0 4 |
F Y 2 0 0 3 |
|---|---|---|---|---|---|
| La t tw lve t hs t ing inc ( E B I T ) s e m on o p er a om e |
1, 5 3 3 |
1, 3 6 7 |
9 3 9 |
8 5 2 |
7 5 7 |
| La t tw lve t hs de ia t ion d a t iza t ion + s e m on p rec an mo r |
3 4 7 |
3 2 6 |
2 1 5 |
2 3 3 |
2 1 6 |
| No h c ha + n-c as rg es |
3 7 |
3 5 |
1 4 |
1 3 |
1 3 |
| E B I T D A ( l ize d ) an nu a = |
1, 9 1 7 |
1, 7 2 8 |
1, 2 0 4 |
1, 0 9 8 |
9 8 6 |
1) A/R securitization program off-balance sheet in 2003 and included in short term borrowings from 2004 onwards 2) Excluding restructuring costs and in-process R&D
| E l R t e r n a e e n e x v u |
Q 3 2 0 0 7 |
Q 3 2 0 0 6 |
t h g row |
cc |
|---|---|---|---|---|
| In te t io l du t r rn a na p ro c ev en ue |
2 4 5 |
4 3 9 |
1 9 % + |
1 1 % + |
| In l re te rna ve nu e - |
( ) 6 5 |
( ) 5 0 |
||
| Ex l r te rn a ev en ue = |
4 9 5 |
3 8 9 |
1 8 % + |
9 % + |
| No h Am ica du t t r r er p ro c ev en ue |
2 9 7 |
2 6 8 |
1 1 % + |
|
| In l re te rna ve nu e - |
( ) 1 3 0 |
( ) 1 2 7 |
||
| Ex te l r rn a ev en ue = |
1 6 7 |
1 4 1 |
1 8 % + |
|
| T O T A L du t r p ro c ev en ue |
8 2 1 |
7 0 5 |
1 6 % + |
1 1 % + |
| In l re te rna ve nu e - |
( ) 1 9 6 |
( ) 1 7 5 |
||
| Ex l r te = rn a ev en ue |
6 2 5 |
5 3 0 |
1 8 % + |
1 2 % + |
| C i l d i ( ) t t t a p a e x p e n u r e n e |
9 2 0 0 M 7 |
Q 3 2 0 0 7 |
Q 3 2 0 0 6 |
9 M 2 0 0 6 |
| Pu ha f p ty lan t a d ip t rc se o ro p er p n eq u m en , |
3 8 6 |
1 3 4 |
1 1 5 |
2 8 8 |
| fro f p Pr ds le ty lan t a d ip t oc ee m sa o ro p er p n eq u m en - , |
( ) 2 2 |
( ) 1 1 |
( ) 2 |
( ) 1 5 |
| Ca i l e d i ( ) ta tu t p xp en re ne = |
3 6 4 |
1 2 3 |
1 1 3 |
2 7 3 |
cc = constant currency
| O f f t i b t i i t p e r a n g p e r o r m a n c e e o r e o n e- m e e m s |
Q 3 2 0 0 7 |
Q 3 2 0 0 6 |
h t g row |
|
|---|---|---|---|---|
| Op ing inc ( E B I T ) t er a om e |
3 9 7 |
3 4 9 |
1 4 % |
|
| Ga in fro d ive t i tu tru tu in + m s re re s c r g |
0 | 6 | ||
| Op ing inc ( E B I T ) be fo im i t t te er a om e re on e- e- ms |
3 9 7 |
3 5 5 |
1 2 % |
|
| Ne in t co m e |
1 8 1 |
1 3 9 |
3 0 % |
|
| Lo fro d ive i in t tu tru tu ss m s re re s c r g , |
0 | 4 | ||
| Ne inc be fo im i t t te om e re on e- e- ms |
1 8 1 |
1 4 3 |
2 7 % |
| f & P i t L A t r o o s s c c o u n |
Q 3 2 0 0 6 |
On im i t tem e- e s |
Q 3 2 0 0 6 lu d ing im i t tem ex c on e- e s |
|---|---|---|---|
| Ne t r ev en ue |
2, 2 3 4 |
2, 2 3 4 |
|
| Op t in in ( E B I T ) er a g co m e |
3 4 9 |
* 6 |
3 5 5 |
| E B I T- in ( % ) m ar g |
1 6 5. |
1 9 5. |
|
| In te t e t res xp en se ne , |
( ) 1 0 0 |
( ) 1 0 0 |
|
| In be fo in ta co m e re co m e xe s |
2 4 9 |
6 | 2 5 5 |
| Inc Ta om e x e xp en se |
( 1 0 6 ) |
( 2 ) |
( 1 0 8 ) |
| Ta ( ) te % x r a |
4 2 |
4 2 |
|
| M ino i in ty te t r re s |
( ) 4 |
( ) 4 |
|
| Ne t in co m e |
1 3 9 |
4 | 1 4 3 |
* Restructuring costs of US\$ 7 m, less gain from divestiture of US\$ 1 m
| P f i & L A t t r o o s s c c o u n |
M 9 2 0 0 6 |
On im i t tem e- e s |
M 9 2 0 0 6 lu d ing im i t tem ex c on e- e s |
|---|---|---|---|
| Ne t r ev en ue |
6, 1 4 7 |
6, 1 4 7 |
|
| Op ( ) t in in E B I T er a g co m e |
9 6 4 |
* ( ) 2 8 |
9 3 6 |
| E B I T- in ( ) % m ar g |
1 5. 7 |
1 5. 2 |
|
| In te t e t res xp en se ne , |
( 2 ) 5 5 |
** 1 4 |
( 2 4 1 ) |
| fo In be in ta co m e re co m e xe s |
7 0 9 |
( ) 1 4 |
6 9 5 |
| Inc Ta om e x e xp en se |
( ) 3 1 4 |
3 4 |
( ) 2 8 0 |
| Ta ( % ) te x r a |
4 4 % |
4 0 |
|
| M ino i in ty te t r re s |
( 1 0 ) |
( 1 0 ) |
|
| Ne t in co m e |
3 8 5 |
2 0 |
4 0 5 |
| O i i N h A i t t p e r a n g n c o m e o r m e r c a |
Q 3 2 0 0 6 |
9 M 2 0 0 6 |
|---|---|---|
| Re ve nu e |
1, 6 1 3 |
4, 3 6 7 |
| Op ing inc ( E B I T ) t er a om e |
2 5 7 |
0 4 7 |
| ( % f r ) E b i t m in in ar g o ev en ue |
% 1 5. 9 |
% 1 6. 1 |
| On im i t te e- e- m s |
6 | ( 3 0 ) |
| E b i t m in ( in % f r ) be fo -t im i te ar g o ev en ue re o ne e m s |
1 6. 3 % |
1 4 % 5. |
* US\$ 40 m gain from divestiture, less US\$ 10 m restructuring costs and US\$ 2 m costs for transformation of the legal form of the Company
** Write-off of deferred financing costs
| C h F l a s o w |
Q 3 2 0 0 7 |
9 M 2 0 0 7 |
|---|---|---|
| Ac is i ion t q s u |
( ) 2 6 |
( ) 1 4 0 |
| Pr ds fro d ive i t tu oc ee m s res |
2 | 3 0 |
| Ac is i t io t o f d ive t i tu q u ns ne s re s , |
( 2 4 ) |
( 1 1 0 ) |
| C h F l a s o w |
Q 3 2 0 0 6 |
Ta for ts x p ay me n ior p r y ea rs |
C G R is i ion t ac q u |
Q 3 2 0 0 6 |
|---|---|---|---|---|
| Ne t c h i de d by t in t iv i t ies as p ro v o p er a g ac |
1 5 3 |
9 9 |
9 | 2 6 1 |
| Ca i l Ex d i ( ) ta tu t p p en res ne |
( 1 1 3 ) |
( 1 1 3 ) |
||
| Fr Ca h F low ee s |
4 0 |
9 9 |
9 | 1 4 8 |
| Ac is i ion d d ive i t t tu q s a n s res u |
( ) 8 |
( ) 2 |
( ) 1 0 |
|
| Fr Ca h F low f is i io d d ive i te t t tu ee s a r a cq u ns a n s re s |
3 2 |
9 9 |
7 | 1 3 8 |
| C h F l a s o w |
9 M 2 0 0 6 |
Ta for ts x p ay me n ior p r y ea rs |
R C G is i ion t ac q u |
9 M 2 0 0 6 |
|---|---|---|---|---|
| Ne t c h i de d by t in t iv i t ies as p ro v o p er a g ac |
4 6 5 |
9 9 |
9 9 |
6 6 3 |
| Ca ( ) i l Ex d i ta tu t p p en res ne |
( ) 2 7 3 |
( ) 2 7 3 |
||
| Fr Ca h F low ee s |
1 9 2 |
9 9 |
9 9 |
3 9 0 |
| Ac is i ion d d ive i t t tu q u s a n s res |
( 3, 6 8 2 ) |
3, 6 3 8 |
( 4 4 ) |
|
| Ca f Fr h F low te is i t io d d ive t i tu ee s a r a cq u ns a n s re s |
( ) 3, 4 9 0 |
9 9 |
3, 7 3 7 |
3 4 6 |
Fresenius Medical Care AG & Co. KGaAInvestor RelationsElse Kröner Str. 161352 Bad Homburg v.d.H.
Head of Investor Relations & Corporate Communications Tel.: +49-(0)6172-609-2601 Fax.: +49-(0)6172-609-2301 Mob.: +49-(0)173-6522-712 Mail: [email protected]
Terry L. Proveaux Tel.: +1-800-948-2538Fax.: +1-615-345-5605Mob.: +1-615-618-2987 bbMail: [email protected]
WKN 578 580ISIN DE0005785802SEDOL1 5129074 DE
For recent updates, please have a look at our webpage. Navigation around
www.fmc-ag.com
CalendarInvestor Relations > Financial Calendar
Annual Report / Quarterly Filings / SEC Filings / Deutsche Börse Filings ... Investor Relations > Publications
Corporate Governance / Sarbanes-Oxley Act / NYSE declaration ... Investor Relations > Corporate Governance
Financing / Analyst Coverage / Consensus estimates / Share data … Investor Relations > Our share
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.