Investor Presentation • Sep 9, 2008
Investor Presentation
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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. Midterm Strategy
4. Attachments
| R e v e n u e |
\$ 2 6 6 5 m , |
1 1 % + |
|---|---|---|
| N i t e n c o m e |
\$ 2 1 1 m |
1 8 % + |
| E i h a r n n g s p e r s a r e |
\$ 0 7 1 |
1 8 % + |
On track to achieve Full Year Guidance
despite:
| \$ U S i i l l i n m o n s - |
Q 2 2 0 0 7 |
Q 2 2 0 0 8 |
G h t r o w |
c c |
|---|---|---|---|---|
| N h A i t o r m e r c a |
1 4 9 9 , |
3 3 1 5 , |
2 % |
|
| A d j d f h l f h f i b i t t t u s e o r e s a e o e p e r u s o n u s n e s s |
3 % |
|||
| I i l t t n e r n a o n a |
2 9 6 |
3 9 1 |
3 2 % |
1 9 % |
| T l t o a |
1 7 9 6 , |
9 2 1 4 , |
7 % |
5 % |
| A d j d f h l f h f i b i t t t u s e o r e s a e o e p e r u s o n u s n e s s |
8 % |
6 % |
cc = constant currency
| Q 2 2 0 0 8 |
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 v e n u e g r o w |
5 % + |
3 % + |
9 1 % + |
| 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 |
2 4 % + |
2 8 % + |
9 7 % + |
| R t t t e v e n u e p e r r e a m e n |
1) \$ 3 2 3 |
\$ 1 8 3 |
|
| G h t r o w |
0. 1 % - |
1 0. 3 % c c + |
|
| C l i i Q 2 2 0 0 8 n c s |
2 3 8 1 , |
6 1 4 7 , |
6 7 1 |
| G h t r o w |
5 % + |
4 % + |
7 % + |
| Q D 2 e n o o s v ( inc lu d ing d c l in ics ) m an ag e |
2 6 |
2 1 |
1 4 |
1) including Mexico
cc = constant currency
| N h A i t o r m e r c a |
E M |
E A |
||
|---|---|---|---|---|
| f F M E i % t t o p a e n s |
Q 2 2 0 0 7 |
Q 2 2 0 0 8 |
Q 2 2 0 0 7 |
Q 2 2 0 0 8 |
| K / V ≥ 1 2 t |
9 4 % |
9 5 % |
9 4 % |
9 5 % |
| H l b i d l ≥ 1 1 / e m o g o n g |
8 1 % |
3 7 % |
7 2 % |
6 9 % |
| A l b i ≥ 3 5 / d l u m n g |
7 9 % |
8 0 % |
8 6 % |
8 5 % |
| P h h 3 d l 5 5 5 / t o s p a e m g - |
5 2 % |
5 5 % |
5 7 % |
6 0 % |
| H i l i i d t t o s p a z a o n a y s |
* 1 1 2 |
* 0 1 5 |
7 9 |
8 0 |
* The hospitalization rates for the US reflects FMS adoption of CMS policy
Data Source: FMC-NA Clinical Data Warehouse and IRIS Data Warehouse - All FME U.S. clinics (including RCG legacy)10
(3 months average)
11,8 11,9 11,9 11,9 11,6
g/dl
10
11
12
11,7
Q4 03 Q4 04 Q4 05 Q4 06 Q1 08
11,5
| \$ U S i i l l i n m o n s - |
Q 2 2 0 0 7 |
Q 2 2 0 0 8 |
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 v e n u e |
7 9 9 |
9 3 5 |
1 9 % |
1 0 % |
| E l t x e r n a r e v e n u e |
6 0 9 |
7 4 1 |
2 2 % |
1 2 % |
| N h A i t o r m e r c a |
1 6 1 |
8 2 1 |
1 3 % |
1 3 % |
| I i l t t n e r n a o n a |
4 4 8 |
9 5 5 |
2 5 % |
1 1 % |
Medicare Bill was passed on July 14, 2008
Health Plan 2nd year results
Focusing on further improving patient therapy and expanding market opportunities globally
Exclusive 10 year U.S. manufacturing and distribution sublicense agreement for Venofer® and next generation I.V. Iron product for dialysis stage V
Venofer® is the leading I.V. Iron product worldwide oTotal U.S. I.V. Iron purchases are ~ \$500 million
(Venofer® accounts for 55%)
Focusing on further improving patient therapy and expanding market opportunity in Europe and Latin America
| N h t E ( E U ) o r u r o p e A i m e r c a A i P i f i ( A P ) s a a c c - - |
C i d h i d f 1 3 % t t t t o n n e r e e n e g r o m o m e n m n p r o c s o u v u w u u B d l i b i i h i d 2 0 1 1 t t t t t n e r e m r s e m e n n a o m a c p a e u u w u u A i M d l i d t t n e m a a n a g e m e n e v e o p n g a s e x p e c e A d d I V I h R l P h P f l i t t t r o n o e e n a a r m a o r o o |
|---|---|
| E u r o p e |
R h i d f 1 3 % t t t e e n e g r o m o m e n m c o n n e o c c v u w u u C i d h i E E 1 7 % t t t t o n n e s r o n g g r o n a s e r n r o p e u w u + S k h f 9 % t t t t t a m e m a r e r e a m e n g r o w o V h i h A R l B i t t t t e r s r o n g g r o n e c e e n a s n e s s y w u u |
| A i s a - P i f i a c c |
S k h f 6 % t t t t t t r o n g s a m e m a r e r e a m e n g r o w o I i h i C h i f 4 2 % t m p r e s s v e r e v e n u e g r o w n n a o c c C i d i i h f ( l. J ) 3 8 % t t o n n e m p r e s s e r e e n e g r o o c c e c a p a n u v v u w x S L h f h i h f d i l F X a u n c o n e w g p e r o r m a n c e a y z e r - |
1. Business Update
2. Financials and Outlook
3. Midterm Strategy
4. Attachments
| \$ U S i i l l i n m o n s - |
Q 2 2 0 0 7 |
Q 2 2 0 0 8 |
G h t r o w |
|---|---|---|---|
| * | |||
| N t e r e e n e v u |
2 4 0 4 , |
2 6 6 5 , |
1 1 % |
| O i i ( E B I T ) t p e r a n g n c o m e |
3 9 1 |
2 9 4 |
1 0 % |
| E B I T i i % m a r g n n |
1 6. 3 |
1 6. 1 |
|
| I t t t n e r e s e x p e n s e n e , |
9 2 |
8 2 |
|
| f I b i t n c o m e e o r e n c o m e a x |
2 9 9 |
3 4 7 |
1 6 % |
| I T n c o m e a x e x p e n s e |
1 1 3 |
2 9 1 |
|
| T t a x r a e |
3 8 0 % |
3 7. 2 % |
|
| M i i i t t t n o r y n e r e s |
7 | 7 | |
| N i t e n c o m e |
1 7 9 |
2 1 1 |
1 8 % |
* 7% growth at constant currency, 7% organic growth
| C h F l a s o w |
|||
|---|---|---|---|
| \$ U S i i l l i n m o n s - |
Q 2 2 0 0 7 |
Q 2 2 0 0 8 |
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 |
2 2 5 |
2 0 9 f r 8 % o ev en ue |
( ) 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 3 0 |
( 9 ) 1 7 |
|
| F C h F l r e e a s o w |
9 5 |
3 0 |
( 6 9 % ) |
| 1) A i i i f d i i t t t t c q u s o n s n e o v e s u r e s , |
2 | ( 5 8 ) |
|
| F C h F l r e e a s o w f i i i t t a e r a c q s o n s u |
9 7 |
( ) 2 8 |
1) A reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
•
pf = pro forma excluding restructuring costs, in-process R&D and gain from the sale of dialysis clinics ltm = last twelve months cl = closing RCGA reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
| \$ U S 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 |
\$ 0 0 0 1 4 > , |
| N I t e n c o m e |
\$ 8 0 5 8 2 5 - |
| L i t e v e r a g e r a o ( D b / E B I T D A ) t e |
2 8 < |
|---|---|
| C i l E d i t t a p a p e n r e x u |
\$ 6 0 0 5 7 5 - ~ |
| A i i i t c q u s o n s |
\$ 1 5 0 2 5 0 - ~ |
1. Business Update
2. Financials and Outlook
3. Midterm Strategy
4. Attachments
* including clinics where FME has an interest of at least 10%
where FME has an interest of at least 10%
Source: Company data
2007
Sustainable Patient Growth of ~ 6% p.a.
~ 2 million patients expected by 2010
~ 4 million patients expected by 2025
Source: Company estimates
Source: 2007 Company data / internal estimates
© 2008 Fresenius Medical Care AG & Co. KGaA
Sustainable Growth of Earnings After Tax – Low to Mid-Teens per year
Targeted Revenue Growth in 2008 >7%
1. Business Update
2. Financials and Outlook
3. Midterm Strategy
4. Attachments
| H 2 0 0 8 1 |
C l i i n c |
P i t t a e n s |
T t t r e a m e n s ( in i l l ion ) m |
|---|---|---|---|
| T l t o a |
2 3 1 8 , |
1 7 9 3 4 0 , |
1 3 6 1 |
| G h t r o w |
5 % + |
4 % + |
5 % + |
| N h A i t o r m e r c a |
1 6 4 7 , |
1 2 3 7 8 4 , |
9 3 9 |
| G h t r o w |
4 % + |
3 % + |
3 % + |
| I i l t t n e r n a o n a |
6 7 1 |
5 5 5 5 6 , |
4 2 2 |
| G h t r o w |
7 % + |
8 % + |
8 % + |
| E r o p e u |
3 8 2 |
2 8 7 9 9 , |
2 1 7 |
| L i A i t a n m e r c a |
1 7 5 |
1 8 4 0 4 , |
1. 4 1 |
| A i P i f i s a- a c c |
1 1 4 |
8 3 5 3 , |
0. 6 4 |
| \$ U S i i l l i n m o n s - |
H 1 2 0 0 7 |
H 1 2 0 0 8 |
G h t r o w |
c c |
|---|---|---|---|---|
| N h A i t o r m e r c a |
2 9 8 3 , |
3 0 2 8 , |
2 % |
|
| A d j d f h l f h f i b i t t t u s e o r e s a e o e p e r u s o n u s n e s s |
3 % |
|||
| I i l t t n e r n a o n a |
5 7 3 |
7 4 1 |
2 9 % |
1 6 % |
| T l t o a |
3 5 5 6 , |
3 6 9 7 , |
6 % |
4 % |
| A d j d f h l f h f i b i t t t u s e o r e s a e o e p e r u s o n u s n e s s |
7 % |
5 % |
cc = constant currency
| \$ U S i i l l i n m o n s - |
H 1 2 0 0 7 |
H 2 0 0 8 1 |
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 v e n u e |
1 5 3 9 , |
8 2 2 1 , |
1 8 % |
1 0 % |
| E l t e r n a r e e n e x v u |
1 1 6 9 , |
0 8 1 4 , |
2 0 % |
1 1 % |
| N h A i t o r m e r c a |
3 1 4 |
3 5 4 |
1 3 % |
1 3 % |
| I i l t t n e r n a o n a |
8 5 5 |
0 1 5 4 , |
2 3 % |
1 0 % |
| C h F l a s o w |
|||
|---|---|---|---|
| \$ U S i i l l i n m o n s - |
H 1 2 0 0 7 |
H 1 2 0 0 8 |
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 |
5 0 8 |
0 4 1 8 % f r o ev en |
( ) 2 1 % ue |
| 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 3 2 ) |
|
| F C h F l r e e a s o w |
2 7 1 |
6 9 |
( 7 5 % ) |
| 1) A i i i f d i i t t t t c q u s o n s n e o v e s u r e s , |
( ) 9 0 |
( 9 2 ) |
|
| F C h F l r e e a s o w f i i i t t a e r a c q s o n s u |
1 8 1 |
( ) 2 3 |
1) A reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
| \$ S U i i l l i n m o n s - |
H 1 2 0 0 7 |
H 2 0 0 8 1 |
G h t r o w |
|---|---|---|---|
| N t e r e v e n u e |
4 7 2 5 , |
5 1 7 7 , |
* 1 0 % |
| O i i ( E B I T ) t p e r a n g n c o m e |
7 5 6 |
8 8 1 |
8 % |
| E B I T i i % m a r g n n |
1 6. 0 |
8 1 5. |
|
| I t t t n e r e s e x p e n s e n e , |
1 8 7 |
6 1 5 |
|
| I b f i t n c o m e e o r e n c o m e a x |
5 6 9 |
6 3 5 |
1 5 % |
| I T n c o m e a e p e n s e x x |
2 1 6 |
2 3 4 |
|
| T t a r a e x |
3 8 0 % |
3 7. 2 % |
|
| M i i i t t t n o r y n e r e s |
1 4 |
3 1 |
|
| N i t e n c o m e |
3 3 9 |
3 9 7 |
1 7 % |
* 6% growth at constant currency, 6% organic growth
North America
| E l R t e r n a e e n e x v u |
Q 2 2 0 0 8 |
Q 2 2 0 0 7 |
h t g ro w |
cc |
|---|---|---|---|---|
| In io l du te t t r rn a na p ro c ev en ue |
6 3 8 |
5 0 8 |
2 6 % + |
1 2 % + |
| In l re te rn a ve nu e - |
( 7 9 ) |
( 6 1 ) |
||
| Ex l r te rn a ev en ue = |
5 5 9 |
4 4 7 |
2 5 % + |
1 1 % + |
| No h Am ica du t t r r er p ro c ev en ue |
3 1 5 |
2 9 1 |
8 % + |
|
| In l re te rn a ve nu e - |
( 1 3 3 ) |
( 1 3 0 ) |
||
| Ex l r te rn a ev en ue = |
1 8 2 |
1 6 1 |
1 3 % + |
|
| O T T A L du t r p ro c ev en ue |
9 5 3 |
7 9 9 |
1 9 % + |
1 0 % + |
| In l re te rn a ve nu e - |
( ) 2 1 2 |
( ) 1 9 1 |
||
| Ex l r te rn a ev en ue = |
7 4 1 |
6 0 8 |
2 2 % + |
2 1 % + |
| C i l d i ( ) t t t a p a e x p e n u r e n e |
H 1 2 0 0 8 |
H 1 2 0 0 7 |
Q 2 2 0 0 8 |
Q 2 2 0 0 7 |
| Pu ha f p lan d ip ty t a t rc se o ro p er p n eq m en u , |
3 4 3 |
2 4 9 |
1 8 4 |
1 3 3 |
| Pr ds fro le f p lan d ip ty t a t oc ee m sa o ro p er p n eq u m en - , |
( ) 1 1 |
( 2 ) 1 |
( ) 5 |
( 3 ) |
| Ca i l e d i ( ) ta tu t p xp en re ne = |
3 3 2 |
2 3 7 |
1 7 9 |
1 3 0 |
All numbers are in US-\$ millions
cc = constant currency
| D b t e |
Q 2 2 0 0 8 |
F Y 2 0 0 7 |
F Y 2 0 0 6 |
F Y 2 0 0 5 |
F Y 2 0 0 4 |
|---|---|---|---|---|---|
| S ho bo ing t te r rm rro w s |
7 3 4 |
2 1 7 |
3 3 1 |
1 5 1 |
4 1 9 |
| S ho bo ing fro la d p ies t te te t r rm rro w s m re ar + |
1 8 1 |
2 | 5 | 1 9 |
6 |
| 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 + |
1 5 1 |
8 5 |
1 6 0 |
1 2 6 |
2 3 0 |
| Cu ion f Tr Pr fe d Se i ies t p t t t rre n or o us e rre cu r + |
- | 6 0 7 |
|||
| Lo de b d c i l lea b l ig ion les ion -te t a ta t t p t ng rm n ap se o a s, s c ur re n or + |
8 3 4, 1 |
0 0 4, 4 |
3, 8 2 9 |
0 7 7 |
5 4 5 |
| Se Tr Pr fe d i ies ( f c ion ) t t t o t p t us e rre cu r ne ur re n or + |
6 9 6 |
6 6 4 |
1, 2 5 4 |
1, 1 8 8 |
1, 2 7 9 |
| T l d b t t o a e = |
5, 9 4 5 |
5, 6 4 2 |
5, 5 7 9 |
2, 1 9 1 |
2, 4 7 9 |
| E B I T D A |
Q 2 2 0 0 8 |
F Y 2 0 0 7 |
F Y 2 0 0 6 ( p ro for ) ma |
F Y 2 0 0 5 |
F Y 2 0 0 4 |
| La lve hs ing inc ( E B I T ) t tw t t s e m on o p er a om e |
6 2 1, 4 |
8 0 1, 5 |
3 6 1, 7 |
9 3 9 |
8 2 5 |
| La lve hs de ia ion d a iza ion t tw t t t t s e m on p rec an mo r + |
3 9 2 |
3 6 3 |
3 2 6 |
2 5 1 |
2 3 3 |
| No h c ha n-c as rg es + |
4 2 |
4 1 |
3 5 |
1 4 |
1 3 |
| E B I T D A ( l ize d ) an nu a = |
2, 0 7 6 |
1, 9 8 4 |
1, 7 2 8 |
1, 2 0 4 |
1, 0 9 8 |
| C h F l a s o w |
H 1 2 0 0 8 |
H 1 2 0 0 7 |
Q 2 2 0 0 8 |
Q 2 2 0 0 7 |
|
| Ac is i ion d inv d ha f in i b le t tm ts t p ta ts q u s a n es en an ne ur c se s o ng as se |
( 1 3 3 ) |
( 1 1 7 ) |
( 6 0 ) |
( 2 6 ) |
|
| Pr ds fro d ive i t tu oc ee m s re s |
4 1 |
2 7 |
2 | 2 8 |
|
| Ac is i io f d ive i t t o t tu q u ns ne s re s , |
( 9 2 ) |
( 9 0 ) |
( 5 8 ) |
2 |
Fresenius Medical Care AG & Co. KGaAInvestor RelationsElse-Kröner-Str. 161352 Bad Homburg v.d.H.
Ordinary sharesWKN 578 580ISIN DE0005785802SEDOL1 5129074 DE
Tel.: +49-(0)6172-609-5216Fax.: +49-(0)6172-609-2301Email: [email protected]
For further information and current news:www.fmc-ag.com
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