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Fresenius Medical Care AG & Co. KGaA

Investor Presentation • May 4, 2010

165_ip_2010-05-04_d7158d6a-dff3-4aad-8d9d-150d11a69b06.pdf

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Fresenius Medical Care

The World's Leading Renal Therapy Company

1st Quarter 2010 Results

Analyst Conference Call, May 4, 2010

Forward-looking Statements

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. Questions & Answers

1st Quarter 2010 – Overview

Good start into the year and on track for full-year targets Very strong underlying performance

Q
1
2
0
0
9		 Q
1
2
0
1
0		 G
h
t
r
o
w
R
e
e
n
e
v
u		 \$
2
6
0
5
m
,		 \$
2
8
8
2
m
,		 1
3
%
+
N
t
i
e
n
c
o
m
e
C
G
&
Co
Ga
t
tr
i
bu
ta
b
le
to
F
M
A
K
A
a		 \$
1
9
8
m		 \$
2
1
1
m		 %
7
+
E
i
h
a
r
n
n
g
s
p
e
r
s
a
r
e		 \$
0
6
7		 \$
0
7
0		 6
%
+
  • •Superior quality performance in dialysis products as well as services
  • •Strong underlying operational performance
  • •Strong revenue growth at 10% at constant currency and 8% organic
  • •Excellent cash flow development

1st Quarter 2010 – Revenue

Total revenue increased 13% to \$2,882 m

1st Quarter 2010 – Dialysis Services Global

Very strong revenue growth globally

\$
S
U
i
l
l
i
m
o
n
s		 Q
1
2
0
0
9		 Q
1
2
0
1
0		 G
h
t
r
o
w		 c
c
N
t
h
A
i
o
r
m
e
r
c
a		 1
5
7
7
,		 1
7
6
0
,		 %
1
2
I
t
t
i
l
n
e
r
n
a
o
n
a		 3
4
6		 4
1
1		 %
1
9		 %
9
T
l
t
o
a		 1
9
2
3
,		 2
1
1
7
,		 1
3
%		 1
1
%
  • •Good organic treatment growth
  • •Continued strong revenue-per-treatment development
  • •Treating 198,774 patients in ~ 2,580 clinics

cc = constant currency

1st Quarter 2010 Quality Outcomes

Overall strong quality performance

E
M
E
A
(
S
)
N
t
h
A
i
U
A
o
r
m
e
r
c
a
%
f
i
t
t
o
p
a
e
n
s		 Q
1
2
0
0
9		 Q
1
2
0
1
0		 Q
1
2
0
0
9		 Q
1
2
0
1
0
K
/
V
1
2
t
≥		 9
6
%		 9
6
%		 9
4
%		 9
5
%
H
l
b
i
1
0
1
2
/
d
l
e
m
o
g
o
n
g
=
-		 6
2
%		 6
%
5		 1
%
5		 2
%
5
/
A
l
b
i
3
5
d
l
≥
m
n
g
u		 %
8
0		 %
8
3		 %
8
4		 %
8
5		 I
m
p
r
o
v
e
P
h
h
3
/
d
l
t
5
5
5
o
s
p
a
e
m
g
-		 3
%
5		 %
5
5		 6
1
%		 6
1
%		 I
m
p
r
o
e
v
H
i
t
l
i
t
i
d
o
s
p
a
a
o
n
a
s
z
y		 1
0
4		 *
9
9		 8
2		 8
9

The hospitalization rates for the US reflects adoption of CMS policy *

1st Quarter 2010 Quality Outcomes

Focus on quality & innovation for our patients

%
f
Q
t
i
t
1
2
0
1
0
o
p
a
e
n
s		 U
S
A		 C
l
i
i
n
c
N
t
l
o
c
u
r
n
a		 E
M
E
A		 O
l
i
n
n
e
H
D
F
K
/
V
≥
1
2
t		 9
6
%		 9
9
%		 9
5
%		 9
%
7
A
l
b
i
≥
3
/
d
l
5
u
m
n
g		 8
3
%		 9
3
%		 8
%
5		 8
%
7
3
/
P
h
h
t
5
5
5
d
l
o
s
p
a
e
g
-		 %
5
5		 6
%
5		 6
1
%		 6
1
%

1st Quarter 2010 – Dialysis Services Global

Very good performance in all key metrics

Q
1
2
0
1
0		 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
t
h
r
g
a
n
c
r
e
v
e
n
u
e
g
r
o
w		 %
9
+		 %
9
+		 %
5
+
S
k
t
t
t
t
t
h
a
m
e
m
a
r
e
r
e
a
m
e
n
g
r
o
w		 %
4
2
+		 %
4
1
+		 %
4
3
+
R
t
t
t
e
e
n
e
p
e
r
r
e
a
m
e
n
v
u		 1)
\$
3
4
8		 \$
1
6
6
G
t
h
r
o
w		 %
5
+		 1
%
c
c
Q
1
2
0
1
0
N
b
f
l
i
i
u
m
e
r
o
c
n
c
s		 2
8
0
5
,		 1
8
8
7
,		 9
2
7
G
h
t
r
o
w		 %
5
+		 4
%
+		 8
%
+
D
e
n
o
o
s
v
(
inc
lu
d
ing
d c
l
in
ics
)
m
an
ag
e		 1
7		 7 1
0

1) including Mexico

cc = constant currency

1st Quarter 2010 – Revenue per treatment US

Favorable reimbursement environment

Rationale for ESRD Integrated Care Model

CMS annual costs per ESRD patient – \$87,400

1st Quarter 2010 – Dialysis Products

Product growth with sequential improvement

U
S
i
l
l
i		 1
2		 1
2
1		 G
h
\$
m
o
n
s		 Q
0
0
9		 Q
0
0		 t
r
o
w		 c
c
T
t
l
o
a
r
e
v
e
n
u
e
(
inc
l.
in
ter
l re
)
na
ve
nu
e		 8
5
8		 9
6
9		 %
1
3		 %
7
E
t
l
x
e
r
n
a
r
e
v
e
n
u
e		 6
3
7		 7
1
1		 %
1
2		 %
5
N
h
A
i
t
o
r
m
e
r
c
a		 1
9
7		 2
0
0		 1
%
I
t
t
i
l
n
e
r
n
a
o
n
a		 4
4
0		 5
1
1		 %
1
6		 %
7

cc = constant currency

1st Quarter 2010 –Summary

Superior quality performance in both products and services

Continued expansion of new products and therapies worldwide

Strong underlying operational performance

Excellent cash flow development

Continued focus on R&D

Reiterated full-year guidance 2010

2. Financials and Outlook

1st Quarter 2010 – Profit & Loss

\$
S
U
i
l
l
i
m
o
n
s		 Q
1
2
0
0
9		 Q
1
2
0
1
0		 G
h
t
r
o
w
N
t
e
r
e
e
n
e
v
u		 2
5
6
0
,		 2
8
8
2
,		 *
%
1
3
O
(
)
t
i
i
E
B
I
T
p
e
r
a
n
g
n
c
o
m
e		 3
9
6		 4
2
3		 %
7
E
B
I
T
i
i
%
m
a
r
g
n
n		 1
5
5		 1
4
7
I
t
t
t
n
e
r
e
s
e
x
p
e
n
s
e,
n
e		 4
7		 6
7
f
I
b
i
t
n
c
o
m
e
e
o
r
e
n
c
o
m
e
a
x		 3
2
2		 3
5
6		 1
1
%
I
t
n
c
o
m
e
a
e
p
e
n
s
e
x
x		 1
1
1		 1
2
8
T
t
a
r
a
e
x		 %
3
4		 %
3
6
N
t
l
l
i
i
t
t
o
n-
c
o
n
r
o
n
g
n
e
r
e
s		 1
3		 1
7
N
t
i
e
n
c
o
m
e
i
bu
b
le
F
M
C
A
G
&
Co
K
Ga
A
t
tr
ta
to
a		 1
9
8		 2
1
1		 %
7

* 10% growth at constant currency, 8% organic growth

Operating Margin Development

Days Sales Outstanding (DSO)

Continued excellent cash collection

1st Quarter 2010 – Cash Flow

Excellent cash flow performance

\$
S
U
i
l
l
i
m
o
n
s		 Q
1
2
0
0
9		 Q
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		 1
5
6		 3
4
9
1
2
%
f r
o
ev
en
ue		 %
1
2
4
1)
C
i
t
l
d
i
t
t
a
p
a
e
x
p
e
n
u
r
e
s
n
e
,		 (
1
1
1
)		 (
)
9
9
f
F
h
l
r
e
e
c
a
s
o
w		 4
5		 2
0
5
9
%
f r
o
ev
en
ue		 4
7
%
5
1)
A
i
i
i
t
f
d
i
i
c
q
s
o
n
s
t
t
t
u
n
e
o
v
e
s
u
r
e
s
,		 (
3
6
)		 (
8
2
)
1)
f
F
h
l
f
t
i
i
t
i
r
e
e
c
a
s
o
w
a
e
r
a
c
q
u
s
o
n
s
,		 9 1
6
8
6
%
f r
o
ev
en
ue

1) A reconciliation to the most directly comparable U.S. GAAP financial measure is provided in the attachment.

1st Quarter 2010 – Debt and EBITDA Development

Debt/EBITDA ratio ahead of target

* 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.

2010 – Outlook Reiterated

Fully on track for 2010 Targets

\$
U
S
i
l
l
i
m
o
n
s		 G
C
U
I
D
A
N
E
N
t
e
r
e
e
n
e
v
u		 \$
1
2
0
0
0
>
,
N
t
i
e
n
c
o
m
e
t
tr
i
bu
ta
b
le
to
F
M
C
A
G
&
Co
K
Ga
A
a		 \$
9
5
0
9
8
0
-
L
t
i
e
v
e
r
a
g
e
r
a
o
(
/
)
D
b
t
E
B
I
T
D
A
e		 2
5
<
C
i
t
l
d
i
t
a
p
a
e
x
p
e
n
u
r
e
s		 \$
5
5
0
6
5
0
~
-
A
i
i
i
t
c
q
s
o
n
s
u		 \$
4
0
0
t
u
p
o

3. Questions & Answers

Thank you

for your interest in

Fresenius Medical Care !

Fresenius Medical Care

The World's Leading Renal Therapy Company

1st Quarter 2010 Results

Analyst Conference Call, May 4, 2010

Attachment I

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
1
2
0
1
0		 F
Y
2
0
0
9		 F
Y
2
0
0
8		 F
Y
2
0
0
7
S
ho
t-
te
bo
ing
(
inc
l.
A
/
R
)
r
rm
rro
w
s
p
ro
g
ra
m		 9
9		 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		 1
0		 1
0		 1 2
Cu
t p
t
ion
f
lon
ter
de
b
t a
d c
i
ta
l
lea
b
l
ig
t
ion
+
rre
n
or
o
g-
m
n
ap
se
o
a
s		 1,
5
4
4		 1
5
8		 4
5
5		 8
5
Cu
f
fer
t p
t
ion
tru
t p
d s
i
t
ies
+
rre
n
or
o
s
re
re
ec
ur		 6
7
0
Lo
-te
de
b
t a
d c
i
ta
l
lea
b
l
ig
t
ion
+
ng
rm
n
ap
se
o
a
s,
les
ion
t p
t
s c
urr
en
or		 3,
0
2
9		 4,
4
2
8		 3,
9
5
7		 4,
0
0
4
Tr
fer
d s
i
ies
les
ion
t p
t
t p
t
+
us
re
re
ec
ur
s c
urr
en
or		 6
2
8		 6
6
5		 6
4
1		 6
6
4
To
ta
l
de
b
t
=		 3
1
0
5,		 6
8
5,
5		 3
8
5,
7		 6
2
5,
4
E
B
I
T
D
A		 Q
1
2
0
1
0		 F
Y
2
0
0
9		 1)
F
Y
2
0
0
8		 F
Y
2
0
0
7
La
t
tw
lve
t
hs
t
ing
inc
(
E
B
I
T
)
s
e
m
on
o
p
er
a
om
e		 1,
7
8
3		 1,
7
5
6		 1,
6
7
2		 1,
5
8
0
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		 6
4
7		 4
5
7		 1
6
4		 3
6
3
No
h c
ha
+
n-c
as
rg
es		 5
1		 5
0		 4
4		 4
1
E
B
I
T
D
A
(
l
ize
d
)
=
an
nu
a		 2,
3
1
0		 2,
2
6
3		 2,
1
3
2		 1,
9
8
4

1) Excluding restructuring costs and in-process R&D

Attachment II

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
C
i
l
d
i
(
)
t
t
t
a
p
a
e
x
p
e
n
u
r
e
n
e		 Q
1
2
0
1
0		 Q
1
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		 (
1
0
6
)		 (
1
1
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
-		 7 1
Ca
i
ta
l e
d
i
tu
(
t
)
=
p
xp
en
re
ne		 (
9
9
)		 (
1
1
1
)
A
i
i
i
(
)
t
t
c
q
u
s
o
n
s
n
e		 Q
1
2
0
1
0		 Q
1
2
0
0
9
Ac
is
i
t
ion
d
inv
tm
t a
d
t p
ha
f
in
ta
i
b
le
ts
q
u
s a
n
es
en
n
ne
ur
c
se
s o
ng
as
se		 (
8
4
)		 (
3
7
)
fro
Pr
ds
d
ive
t
i
tu
oc
ee
m
s
re
s		 2 1
f
Ac
is
i
t
io
t o
d
ive
t
i
tu
q
u
ns
ne
s
re
s
,		 (
)
8
2		 (
)
3
6

All figures are in \$ millions

cc = constant currency

Dialysis Services - Global

Q
1
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
8
0
5
,		 1
9
8
4
7
7
,		 7
5
G
h
t
r
o
w		 %
5
+		 6
%
+		 %
7
+
N
t
h
A
i
o
r
m
e
r
c
a		 1
7
8
8
,		 1
3
3
1
0
5
,		 5
0
G
t
h
r
o
w		 4
%
+		 5
%
+		 6
%
+
I
t
t
i
l
n
e
r
n
a
o
n
a		 7
9
2		 6
5
6
6
9
,		 2
5
G
h
t
r
o
w		 8
%
+		 9
%
+		 8
%
+
E
r
o
p
e
u		 4
5
5		 3
4
2
2
7
,		 1.
3
L
i
A
i
t
a
n
m
e
r
c
a		 1
9
2		 2
1,
3
1
7		 0
8
f
A
i
P
i
i
s
a-
a
c
c		 1
4
5		 1
0,
1
2
5		 0
4

Contacts

Fresenius Medical Care AG & Co. KGaAInvestor RelationsElse-Kröner-Str. 161352 Bad Homburg v.d.H.

Ordinary shares WKN 578 580ISIN DE0005785802SEDOL1 5129074 DE

Oliver MaierHead of Investor Relations & Corporate Communications Tel.: +49-(0)6172-609-2601 Fax.: +49-(0)6172-609-2301 E-mail: [email protected]

Gerrit JostTel.: +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]

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For recent updates, please have a look at our website. www.fmc-ag.com

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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

Fresenius Medical Care

The World's Leading Renal Therapy Company

1st Quarter 2010 Results

Analyst Conference Call, May 4, 2010

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