Investor Presentation • Sep 23, 2010
Investor Presentation
Open in ViewerOpens in native device viewer
The World's Leading Renal Therapy Company
UniCredit German Investment Conference 2010
Munich, September 23, 2010
Safe Harbor Statement: This presentation includes certain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Act of 1934, as amended. 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 discussed in detail in Fresenius Medical Care AG & Co. KGaA's (FMC AG & Co. KGaA) reports filed with the Securities and Exchange Commission (SEC) and the German Exchange Commission (Deutsche Börse).
1. Business Update
2. Financials and Outlook
3. Growth Strategy and Summary
Financials and Outlook
Growth Strategy and Summary
Strong quarter and fully on track for full-year targets Very good underlying performance
| Q 2 2 0 0 9 |
Q 2 2 0 1 0 |
G h t r o w |
|
|---|---|---|---|
| R e e n e v u |
\$ 2 7 6 4 m , |
\$ 2 9 4 6 m , |
% 7 |
| N i t e n c o m e C G Co Ga i bu b le F M A & K A t tr ta to a |
\$ 2 2 1 m |
\$ 2 4 8 m |
1 2 % |
| E i h a r n n g s p e r s a r e |
\$ 0 7 4 |
\$ 0 8 3 |
1 2 % |
First time over 200,000 patients being treated
| \$ S U i l l i m o n s |
Q 2 2 0 0 9 |
Q 2 2 0 1 0 |
G h t r o w |
c c |
|---|---|---|---|---|
| N h A i t o r m e r c a |
1 6 7 7 , |
1 8 1 7 , |
8 % |
|
| I i l t t n e r n a o n a |
3 7 7 |
4 0 7 |
8 % |
9 % |
| T l t o a |
2 0 5 4 , |
2 2 2 4 , |
8 % |
8 % |
cc = constant currency
| \$ U S i l l i m o n s |
H 1 2 0 0 9 |
H 1 2 0 1 0 |
G h t r o w |
c c |
|---|---|---|---|---|
| N h A i t o r m e r c a |
3 2 5 4 , |
5 3 7 8 , |
1 0 % |
|
| I i l t t n e r n a o n a |
7 2 3 |
8 1 7 |
1 3 % |
9 % |
| T l t o a |
3 9 7 7 , |
4 3 9 5 , |
1 1 % |
1 0 % |
cc = constant currency
© 2010 Fresenius Medical Care AG & Co. KGaA
| \$ U S i l l i m o n s |
Q 2 2 0 0 9 |
Q 2 2 0 1 0 |
G h t r o w |
c c |
|---|---|---|---|---|
| T l t o a r e v e n u e ( inc l. in l re ) ter na ve nu e |
9 5 5 |
9 9 4 |
4 % |
% 5 |
| E l t x e r n a r e v e n u e |
7 0 9 |
7 2 2 |
2 % |
3 % |
| N h A i t o r m e r c a |
1 9 9 |
2 1 0 |
5 % |
|
| I i l t t n e r n a o n a |
1 0 5 |
5 1 2 |
0 % |
2 % |
cc = constant currency
| \$ S U i l l i m o n s |
H 1 2 0 0 9 |
H 1 2 0 1 0 |
G h t r o w |
c c |
|---|---|---|---|---|
| T l t o a r e e n e v u ( inc l. in l re ) ter na ve nu e |
1 8 1 3 , |
1 9 6 2 , |
8 % |
6 % |
| E l t e r n a r e e n e x v u |
1 3 4 6 , |
1 4 3 3 , |
6 % |
4 % |
| N h A i t o r m e r c a |
3 9 6 |
4 0 8 |
3 % |
|
| I i l t t n e r n a o n a |
9 5 0 |
1 0 2 5 , |
8 % |
4 % |
cc = constant currency
X Entered into long-term distributor agreement in Japan
X Expanded dialysis services business in Russia
2. Financials and Outlook
| \$ U S i l l i m o n s |
Q 2 2 0 0 9 |
Q 2 2 0 1 0 |
G h t r o w |
|---|---|---|---|
| N t e r e v e n u e |
2 7 6 4 , |
2 9 4 6 , |
* 7 % |
| O i i ( E B I T ) t p e r a n g n c o m e |
4 1 8 |
4 6 5 |
1 1 % |
| E B I T i i % m a r g n n |
1 1 5 |
1 8 5 |
|
| I t t t n e r e s e p e n s e, n e x |
6 7 |
6 8 |
|
| I b f i t n c o m e e o r e n c o m e a x |
3 4 2 |
3 9 7 |
1 6 % |
| I t n c o m e a x e x p e n s e |
1 0 3 |
1 2 9 |
|
| T t a x r a e |
3 0 % |
3 3 % |
|
| N l l i i t t t o n- c o n r o n g n e r e s |
1 8 |
2 0 |
|
| N i t e n c o m e i bu b le F M C A G & Co K Ga A t tr ta to a |
2 2 1 |
2 4 8 |
1 2 % |
* 7% growth at constant currency, 6% organic growth
| \$ S U i l l i m o n s |
Q 2 2 0 0 9 |
Q 2 2 0 1 0 |
G h t r o w |
|---|---|---|---|
| 1) O i h f l t p e r a n g c a s o w |
2 8 2 |
2 9 4 1 0 % f r o ev en ue |
4 % |
| 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 9 |
( ) 1 1 9 |
|
| F h f l r e e c a s o w |
1 4 3 |
5 1 7 f r 6 % o ev en ue |
2 3 % |
| 1) 2) A i i i t f d i i c q s o n s u t t t n e o v e s u r e s , |
( ) 4 5 |
( 6 8 ) |
|
| 1) 2) f F h l f i i i r e e c a s o w t t a e r a c q s o n s u , |
9 8 |
1 0 7 |
1) A reconciliation to the most directly comparable U.S. GAAP financial measure is provided in the attachment.
2) Does not include a \$133 m cash out for a short-term bank deposit in Q2 2010 and a cash repayment in form of an inter-company loan of \$ 50 m in Q2 2009
| \$ U S i l l i m o n s |
H 1 2 0 0 9 |
H 1 2 0 1 0 |
G h t r o w |
|---|---|---|---|
| 1) O i h f l t p e r a n g c a s o w |
4 3 7 |
6 4 3 f r 1 1 % o ev en ue |
4 7 % |
| 1) C i l d i t t a p a e p e n r e s x u t n e , |
( ) 2 4 9 |
( ) 2 1 8 |
|
| F h f l r e e c a s o w |
1 8 8 |
4 2 5 % f r 7 o ev en ue |
1 2 % 7 |
| 1) 2) A i i i t f d i i c q u s o n s t t t n e o e s r e s v u , |
( ) 8 1 |
( ) 1 5 0 |
|
| 1) 2) F h f l f r e e c a s o i i i w t t a e r a c q u s o n s , |
1 0 7 |
5 2 7 |
1) A reconciliation to the most directly comparable U.S. GAAP financial measure is provided in the attachment.
2) Does not include a \$133 m cash out for a short-term bank deposit in Q2 2010 and a cash repayment in form of an inter-company loan of \$ 50 m in Q2 2009
* including non-cash charges and in 2007 excluding restructuring costs, in-process R&D and gain from the sale of dialysis clinics. A reconciliation to the most directly comparable U.S. GAAP financial measure is provided in the attachment.
| \$ S U i l l i m o n s |
C G U I D A N E |
|---|---|
| N t e r e e n e v u |
\$ 1 2 0 0 0 > , |
| N i t e n c o m e i bu b le F M C A G & Co K Ga A t tr ta to a |
\$ 9 5 0 9 8 0 - |
| L i t e v e r a g e r a o ( / ) D b E B I T D A t e |
2 5 < |
| C i l d i t t a p a e x p e n u r e s |
\$ 0 6 0 5 5 5 ~ - |
| A i i i t c q s o n s u |
\$ 0 0 5 t u p o |
Business Update
Financials and Outlook
3. Growth Strategy and Summary
* Based on company statements and estimates
* * 13,606 patients including managed clinics
| R k 1 a n |
R k 2 a n |
R k 3 a n |
|
|---|---|---|---|
| D i l a e r s y z |
F M E |
G b a m r o |
N i p r o |
| D i l i h i a s s m a c n e s y |
F M E |
G b a m r o |
N i k k i s o |
| H d i l i t t e m o a y s s c o n c e n r a e s |
F M E |
F u s o |
G b a m r o |
| B l d l i o o n e s |
F M E |
G b a m r o |
i K a a s m w u |
| P i l d i l i d t t e r o n e a a s s p r o c s y u |
B t a e r x |
F M E |
P i s a |
Produced more than ~85,000,000 Dialyzers in 2009
ESRD patients per million population (p.m.p.)
| i 2 0 1 0 G d a n c e u - |
G l 1 3 o a |
|
|---|---|---|
| R e e n e s v u |
\$ 1 2 b n > |
6 8 % G h * t r o w - |
| i E B I T M a r g n s |
5 1 6 % ~ |
1 0 2 0 b p s - ( i l i ) t n c r e m e n a n c r e a s e s p. a. |
| I E t t n e r e s p e n s e x |
5 5 % < |
6 0 6 5 % t o |
| T R t a a e x |
5 5 5 3 4 3 % – |
3 5 3 6 % – |
| N I t e n c o m e i bu b le F M C A G & Co K Ga A t tr ta to a |
\$ 9 5 0 9 8 0 - |
H i h i l t g s n g e o l d b l d i i t o o e g s w u |
| C O i h F l t p e r a n g a s o w |
1 0 % f R o e v e n u e > |
1 0 % f R o e v e n u e > |
| C E A i i i t a p c q s o n s x u + |
9 % f R o e v e n u e ~ |
% f R 7 o e v e n u e ~ |
| *C Cu ta t |
| L d h i e a e r s p |
i i i i i M l b l l d h t t a n a n o r g o a e a e r s p p o s o n • u C i f f i i i h h h d l d t t t t t t o n n e o s a p e e r e o e a s s n s r • u u u y u y |
|---|---|
| Q i l t a u y |
M i i i l i i d d i t t t a n a n s u p e r o r q u a y n p r o u c s a n s e r v c e s • |
| G h t r o w |
B f i f d i i t t t e n e r o m p r o c n n o a o n s • u v T k i f i i l h i l t t t t t t t a e o p p o r u n y o n e r n a o n a g r o w p o e n a • I d h f f i t t n r o u c e n e w e r a p y o e r n g s • C i h i l i f i d d t t t o n n u e o r z o n a e x p a n s o n o s e r v c e a n p r o u c r a n g e • |
| F i i l n a n c a |
C l d d i t t o n r o c o s a n s p e n n g • S k i i i i t t t t t t t e e a r a c e n e s m e n o p p o r n e s v v u • C i f i b l h t t t t o n n e p r o a e g r o m o m e n m • u w u |
Thank you for your interest in Fresenius Medical Care !
© 2010 Fresenius Medical Care AG & Co. KGaA
The World's Leading Renal Therapy Company
UniCredit German Investment Conference 2010
Munich, September 23, 2010
Reconciliation of non-U.S. GAAP financial measures to the most directly comparable U.S. GAAP financial measure
All figures are in \$ millions
| D b t e |
Q 2 2 0 1 0 |
F Y 2 0 0 9 |
F Y 2 0 0 8 |
F Y 2 0 0 7 |
|---|---|---|---|---|
| S ho bo ing ( inc l. A / R ) t- te r rm rro s p ro g ra m w |
4 1 0 |
3 1 6 |
6 8 4 |
2 1 7 |
| S ho bo ing fro la d p ies t- ter te t + r m rro w s m re ar |
9 | 1 0 |
1 | 2 |
| Cu ion f lon de b d c i l lea b l ig ion t p t ter t a ta t + rre n or o g- m n ap se o a s |
1, 8 6 6 |
1 8 5 |
4 5 5 |
8 5 |
| Cu f fer ion d s i ies t p t tru t p t + rre n or o s re re ec ur |
6 7 0 |
|||
| Lo de b d c i l lea b l ig ion -te t a ta t + ng rm n ap se o a s, les ion t p t s c urr en or |
2, 9 4 9 |
4, 4 2 8 |
3, 9 5 7 |
4, 0 0 4 |
| Tr fer d s i ies t p t + us re re ec ur |
5 9 3 |
6 5 6 |
6 4 1 |
6 6 4 |
| To ta l de b t = |
5, 8 2 7 |
5, 5 6 8 |
5, 7 3 8 |
5, 6 4 2 |
| E B I T D A |
Q 2 2 0 1 0 |
F Y 2 0 0 9 |
1) F Y 2 0 0 8 |
F Y 2 0 0 7 |
| La lve hs ing inc ( E B I T ) t tw t t s e m on o p er a om e |
1, 8 3 0 |
1, 7 5 6 |
1, 6 7 2 |
1, 5 8 0 |
| 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 |
4 8 7 |
4 5 7 |
4 1 6 |
3 6 3 |
| No h c ha + n-c as rg es |
4 9 |
5 0 |
4 4 |
4 1 |
| E B I T D A ( l ize d ) an nu a = |
2, 3 6 6 |
2, 2 6 3 |
2, 1 3 2 |
1, 9 8 4 |
| 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 1 0 |
H 1 2 0 0 9 |
Q 2 2 0 1 0 |
Q 2 2 0 0 9 |
| Pu ha f p lan d e ip ty t a t rc se o ro p er p n q u me n , |
( ) 2 2 7 |
( ) 2 5 4 |
( ) 1 2 1 |
( ) 1 4 2 |
| Pr ds fro le f p lan d e ip ty t a t oc ee m sa o ro p er p n q me n u - , |
9 | 5 | 2 | 3 |
| Ca i l e d i ( ) ta tu t p xp en re ne = |
( 2 1 8 ) |
( 2 4 9 ) |
( 1 1 9 ) |
( 1 3 9 ) |
1) Excluding restructuring costs and in-process R&D
Reconciliation of non-U.S. GAAP financial measures to the most directly comparable U.S. GAAP financial measure
| E l R t e r n a e e n e x v u |
||||
|---|---|---|---|---|
All figures are in \$ millions
| ( ) A i i i t t c q s o n s n e u |
H 1 2 0 1 0 |
H 1 2 0 0 9 |
Q 2 2 0 1 0 |
Q 2 2 0 0 9 |
|---|---|---|---|---|
| Ac is i ion d inv d ha f in i b le t tm t a t p ta ts q u s a n es en n ne ur c se s o ng as se |
( ) 2 9 1 |
( ) 8 2 |
( ) 2 0 7 |
( ) 4 5 |
| Pr ds fro d ive i t tu oc ee m s res |
8 | 5 1 |
6 | 5 0 |
| Ac is i ion d inv f d ive i t tm ts t o t tu q s a n es en ne s res u , |
( ) 2 8 3 |
( ) 3 1 |
( ) 2 0 1 |
5 |
| Inv f r tm t, t o ts es en ne ep ay me n |
1 3 3 |
( 0 ) 5 |
( 1 3 3 ) |
( 0 ) 5 |
| Ac is i ion f d ive i t t o t tu q u s, ne s res |
( ) 1 5 0 |
( ) 8 1 |
( ) 6 8 |
( ) 4 5 |
cc = constant currency
| Q 2 2 0 1 0 |
C l i i n c s |
P i t t a e n s |
T t t r e a m e n s ( ) in i l l ion m s |
|---|---|---|---|
| T l t o a |
2 5 9 9 , |
2 0 2 4 1 4 , |
1 5 3 |
| G h t r o w |
5 % + |
6 % + |
6 % + |
| N h A i t o r m e r c a |
1 9 7 5 , |
1 3 0 8 8 5 , |
1 0 2 |
| G h t r o w |
4 % + |
% 5 + |
6 % + |
| I i l t t n e r n a o n a |
8 0 4 |
6 3 2 6 7 , |
0 5 |
| G h t r o w |
9 % + |
1 1 % + |
8 % + |
| E r o p e u |
4 6 3 |
3 2 5 7 7 , |
2 6 |
| L i A i t a n m e r c a |
1 9 3 |
2 1, 7 6 1 |
1. 7 |
| f A i P i i s a- a c c |
1 4 8 |
1 0 2 8 8 , |
0 8 |
| H 1 2 0 0 9 |
H 1 2 0 1 0 |
G h t r o w |
|
|---|---|---|---|
| R e e n e v u |
\$ 5 3 2 3 m , |
\$ 5 8 2 8 m , |
9 % + |
| N i t e n c o m e i bu b le F M C A G & Co K Ga A t tr ta to a |
\$ 4 1 9 m |
\$ 5 4 9 m |
1 0 % + |
| i E h a r n n g s p e r s a r e |
\$ 1 4 1 |
\$ 1 5 3 |
9 % + |
•Strong revenue growth at 8% at constant currency and 7% organic
•Continued excellent cash flow development
| \$ U S i l l i m o n s |
H 1 2 0 0 9 |
H 1 2 0 1 0 |
G h t r o w |
|---|---|---|---|
| N t e r e v e n u e |
3 2 3 5 , |
5 8 2 8 , |
* 9 % |
| O i i ( E B I T ) t p e r a n g n c o m e |
8 1 3 |
8 8 8 |
9 % |
| E B I T i i % m a r g n n |
1 3 5 |
1 2 5 |
|
| I t t t n e r e s e p e n s e, n e x |
1 4 9 |
1 3 5 |
|
| I b f i t n c o m e e o r e n c o m e a x |
6 6 4 |
5 7 3 |
1 3 % |
| I t n c o m e a x e x p e n s e |
2 1 4 |
2 5 7 |
|
| T t a x r a e |
3 2 % |
3 4 % |
|
| N l l i i t t t o n- c o n r o n g n e r e s |
3 1 |
3 7 |
|
| N i t e n c o m e i bu b le F M C A G & Co K Ga A t tr ta to a |
4 1 9 |
5 4 9 |
1 0 % |
* 8% growth at constant currency, 7% organic growth
Fresenius Medical Care AG & Co. KGaAInvestor RelationsElse-Kröner-Str. 161352 Bad Homburg v.d.H.
Ordinary shares WKN 578 580ISIN DE0005785802SEDOL1 5129074 DE
Gerrit Jost, Director Investor Relations & Corporate Communications Tel.: +49-(0)6172-609-5216 Fax.: +49-(0)6172-609-2301 E-mail: [email protected]
Terry L. Morris Tel.: +1-800-948-2538Fax.: +1-615-345-5605E-mail: [email protected]
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 Shares
The World's Leading Renal Therapy Company
UniCredit German Investment Conference 2010
Munich, September 23, 2010
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.