Investor Presentation • Feb 24, 2010
Investor Presentation
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The World's Leading Renal Therapy Company
2009 4th Quarter / Fiscal Year Results
Analyst Meeting, February 24, 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).
| \$ U S i i l l i n m o n s - |
I d i d m p r o v e g u a n c e f Q 3 2 0 0 9 a s o |
R d t e p o r e |
|
|---|---|---|---|
| N t e r e e n e s v u |
\$ 1 1 2 0 0 ~ , |
\$ 1 1 2 4 7 , |
|
| N i t e n c o m e |
\$ 8 6 8 9 0 5 - |
\$ 8 9 1 |
|
| t tr i bu ta b le to F M C A G & Co K Ga A a |
|||
| L i t e e r a g e r a o v ( D b / E B I T D A ) t e |
2 7 < |
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 ~ - |
\$ 5 6 2 |
|
| A i i i t c q s o n s u |
\$ 2 0 0 3 0 0 ~ - |
\$ 1 8 8 |
1st time above US\$ 3 billion in revenues for a quarter
| Q 4 2 0 0 8 |
Q 4 2 0 0 9 |
G h t r o w |
|
|---|---|---|---|
| R e v e n u e |
\$ 2 2 2 7 m , |
\$ 3 0 3 5 m , |
1 2 % + |
| N i t e n c o m e t tr i bu ta b le to F M C A G & Co K Ga A a |
\$ 2 1 4 m |
\$ 2 4 7 m |
1 % 5 + |
| i E h a r n n g s p e r s a r e |
\$ 0 7 2 |
\$ 0 8 2 |
% 1 5 + |
| \$ U S i i l l i n m o n s - |
Q 4 2 0 0 8 |
Q 4 2 0 0 9 |
G h t r o w |
c c |
|---|---|---|---|---|
| N h A i t o r m e r c a |
1 6 3 2 , |
1 9 9 7 , |
1 0 % |
|
| I i l t t n e r n a o n a |
3 5 2 |
4 2 7 |
2 2 % |
1 2 % |
| T l t o a |
1 9 8 4 , |
2 2 2 6 , |
1 2 % |
1 1 % |
| \$ S U i i l l i n m o n s - |
F Y 2 0 0 8 |
F Y 2 0 0 9 |
G t h r o w |
c c |
|---|---|---|---|---|
| i N h A t o r m e r c a |
6 2 4 7 , |
6 7 9 4 , |
% 9 |
|
| I i l t t n e r n a o n a |
1 9 0 4 , |
5 5 1 6 , |
% 4 |
1 % 4 |
| T l t o a |
7 7 3 7 , |
8 3 5 0 , |
8 % |
1 0 % |
Treating more than 195,650 patients in ~ 2,550 clinics
| N h A i ( U S ) t o r m e r c a |
E M E A |
S T A T U S |
||||
|---|---|---|---|---|---|---|
| % f t i t o p a e n s |
Q 2 0 0 8 4 |
Q 4 2 0 0 9 |
Q 2 0 0 8 4 |
Q 4 2 0 0 9 |
||
| / K t V 1 2 ≥ |
9 % 5 |
9 6 % |
9 % 4 |
5 9 % |
||
| / H l b i 1 0 1 2 d l e m o g o n g = - |
% 6 1 |
6 4 % |
% 5 0 |
5 2 % |
||
| A l b i 3 / d l 5 ≥ u m n g |
8 0 % |
8 3 % |
8 % 5 |
8 8 % |
I m p r o v e |
|
| / P h h t 3 5 5 5 d l o s p a e m g - |
% 5 3 |
5 3 % |
% 6 1 |
6 1 % |
I m p r o e v |
|
| H i l i i d t t o s p a a o n a s z y |
1 0 5 |
* 1 0 0 |
8 1 |
8 6 |
The hospitalization rates for the US reflects adoption of CMS policy *
* Note that average U.S. nocturnal patient weight was 24% greater than average 3xWeek in-center HD patient weight. ** Dietary phosphorus intake for US nocturnal patients was 22% greater than for average US 3xWeek in-center HD patients.
| Q 4 2 0 0 9 |
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 |
1 0 % + |
1 0 % + |
9 % + |
| 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 6 % + |
3 7 % + |
| R t t t e v e n u e p e r r e a m e n |
) 1 \$ 3 0 5 |
\$ 1 3 7 |
|
| G t h r o w |
% 6 + |
% 4 + c c |
|
| F Y 2 0 0 9 |
|||
| f N b l i i m e r o c n c s u |
2 5 5 3 , |
1 7 8 4 , |
7 6 9 |
| G t h r o w |
% 7 + |
6 % + |
1 0 % + |
| D e n o v o s ( ) in lu d in d l in ic c g m a na g e c s |
1 2 0 |
8 9 |
3 1 |
1) including Mexico
| \$ S U i i l l i n m o n s - |
Q 4 2 0 0 8 |
Q 4 2 0 0 9 |
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 ) te rn a ve nu e |
9 6 4 |
1 0 6 0 , |
% 1 0 |
% 4 |
| E l t e r n a r e e n e x v u |
3 8 7 |
8 0 9 |
1 0 % |
3 % |
| N t h A i o r m e r c a |
2 2 0 |
2 1 3 |
3 % - |
|
| I i l t t n e r n a o n a |
5 1 8 |
5 9 6 |
% 1 5 |
% 5 |
| \$ U S i i l l i n m o n s - |
F Y 2 0 0 8 |
F Y 2 0 0 9 |
G h t r o w |
c c |
|---|---|---|---|---|
| T l t o a r e e n e v u ( inc l. In te l r ) rn a ev en ue |
3 2 8 7 , |
3 8 3 6 , |
3 % |
8 % |
| E l t x e r n a r e v e n u e |
2 8 7 5 , |
2 8 9 7 , |
1 % |
6 % |
| N h A i t o r m e r c a |
7 5 8 |
8 1 8 |
% 8 |
|
| I i l t t n e r n a o n a |
2 1 1 7 , |
2 0 7 9 , |
2 % - |
6 % |
Acetate free concentratesBCM for Peritonealdialysis
| \$ i i l l i n m o n s |
Q 4 2 0 0 8 |
Q 4 2 0 0 9 |
G h t r o w |
|---|---|---|---|
| N t e r e v e n u e |
2 7 2 2 , |
5 3 0 3 , |
* % 1 2 |
| O ( ) i i E B I T t p e r a n g n c o m e |
4 3 3 |
4 9 1 |
1 3 % |
| % E B I T i i m a r g n n |
1 5 9 |
1 6 2 |
|
| I t t t n e r e s e x p e n s e n e , |
8 5 |
7 5 |
|
| I b f i t n c o m e e o r e n c o m e a x |
3 4 8 |
4 1 6 |
1 9 % |
| I t n c o m e a e p e n s e x x |
1 2 0 |
1 4 5 |
|
| T t a x r a e |
3 4 % |
3 5 % |
|
| N l l i i t t t o n c o n r o n g n e r e s |
1 4 |
2 4 |
|
| 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 1 4 |
2 4 7 |
1 % 5 |
* 8% growth at constant currency, 8% organic growth
| \$ i i l l i n m o n s |
F Y 2 0 0 8 |
F Y 2 0 0 9 |
G h t r o w |
|---|---|---|---|
| N t e r e v e n u e |
1 0 6 1 2 , |
1 1 2 4 7 , |
* % 6 |
| O ( ) i i E B I T t p e r a n g n c o m e |
1 6 2 7 , |
1 5 6 7 , |
% 5 |
| % E B I T i i m a r g n n |
1 5 8 |
1 5 6 |
|
| I t t t n e r e s e x p e n s e n e , |
3 3 6 |
3 0 0 |
|
| I b f i t n c o m e e o r e n c o m e a x |
1 3 3 6 , |
1 4 5 6 , |
9 % |
| I t n c o m e a e p e n s e x x |
4 7 6 |
4 9 1 |
|
| T t a x r a e |
3 6 % |
3 4 % |
|
| N l l i i t t t o n c o n r o n g n e r e s |
4 2 |
4 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 |
8 1 8 |
8 9 1 |
9 % |
* 9% growth at constant currency, 8% organic growth
Page 21
| \$ i i l l i n m o n s |
Q 2 0 0 8 4 |
Q 4 2 0 0 9 |
G t h r o w |
|---|---|---|---|
| 1) O i h f l t p e r a n g c a s o w |
3 0 1 |
4 5 8 1 % f r 5 o ev e nu e |
2 % 5 |
| 1) C i t l d i t t a p a e x p e n u r e s n e , |
( ) 1 8 1 |
( ) 1 7 3 |
|
| F h f l r e e c a s o w |
1 2 0 |
5 2 8 9 % f r o ev e nu e |
% 1 3 8 |
| 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 , |
( 8 8 ) |
( ) 9 7 |
|
| 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 s o n s u , |
3 2 |
2 0 6 % f r 7 o ev e nu e |
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 |
F Y 2 0 0 8 |
F Y 2 0 0 9 |
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 0 1 6 , |
1 3 3 9 , 1 2 % f r o ev e nu e |
% 3 2 |
| 1) C i l d i t t a p a e p e n r e s t x u n e , |
( 6 3 ) 7 |
( ) 5 6 2 |
|
| f F h l r e e c a s o w |
3 4 3 |
7 7 7 % f r 7 o ev e nu e |
1 2 7 % |
| 1) A i i t i f t d i t i t c q u s o n s n e o e s r e s v u , |
( ) 2 1 8 |
( ) 1 3 6 |
|
| 1) F h f l f i i i r e e c a s o t t w a e r a c q u s o n s , |
1 2 5 |
6 4 1 6 % f r o ev e nu e |
1) A reconciliation to the most directly comparable US-GAAP financial measure is provided in the attachment.
* including non-cash charges and in 2006/2007 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.
1. Business Update
2. Financials and Outlook
The World's Leading Renal Therapy Company
2009 4th Quarter / Fiscal Year Results
Analyst Meeting, February 24, 2010
| D b t e |
F Y 2 0 0 9 |
F Y 2 0 0 8 |
F Y 2 0 0 7 |
F Y 2 0 0 6 |
F Y 2 0 0 5 |
|---|---|---|---|---|---|
| S ho bo in ( in l. A / R ) t te r rm rro w g s c p ro g ra m |
3 1 6 |
6 8 4 |
2 1 7 |
3 3 1 |
1 1 5 |
| S fro ho t te bo ing la te d t ies + r rm rro w s m re p ar |
1 0 |
1 | 2 | 5 | 1 9 |
| Cu f t p t ion lon te de b t a d i ta l lea b l ig t ion + rre n or o g- rm n ca p se o a s |
1 8 5 |
4 5 5 |
8 5 |
1 6 0 |
1 2 6 |
| Cu t p t ion f Tr t Pr fe d Se i t ies + rre n or o us e rre cu r |
6 7 0 |
||||
| Lo -te de b t a d i ta l lea b l ig t ion + ng rm n ca p se o a s, les ion t p t s c ur re n or |
4, 4 2 8 |
3, 9 5 7 |
4, 0 0 4 |
3, 8 2 9 |
7 0 7 |
| Tr t Pr fe d Se i t ies les t p t ion + us e rre cu r s c ur re n or |
6 5 6 |
6 4 1 |
6 6 4 |
1, 2 5 4 |
1, 1 8 8 |
| To l de b ta t = |
5, 5 6 8 |
5, 7 3 8 |
5, 6 4 2 |
5, 5 7 9 |
2, 1 9 1 |
| E B I T D A |
F Y 2 0 0 9 |
F Y 2 0 0 8 |
1 ) F Y 2 0 0 7 |
F Y 2 0 0 6 ( p ro for ) ma |
F Y 2 0 0 5 |
|---|---|---|---|---|---|
| La lve hs in in ( E B I T ) t tw t t s e m on o p er a g co m e |
1, 7 5 6 |
1, 6 7 2 |
1, 5 8 0 |
1, 3 6 7 |
9 3 9 |
| La lve hs de ia ion d iza ion t tw t t t t + s e m on p re c a n am or |
4 5 7 |
4 1 6 |
3 6 3 |
3 2 6 |
2 5 1 |
| No h ha + n- ca s c rg es |
0 5 |
4 4 |
4 1 |
3 5 |
1 4 |
| E B I T D A ( l ize d ) an nu a = |
2, 2 6 3 |
2, 1 3 2 |
1, 9 8 4 |
1, 7 2 8 |
1, 2 0 4 |
1) Excluding restructuring costs and in-process R&D
| E l R t e r n a e e n e x v u |
F Y 2 0 0 9 |
F Y 2 0 0 8 |
t h g ro w |
cc | Q 4 2 0 0 9 |
Q 4 2 0 0 8 |
t h g ro w |
cc |
|---|---|---|---|---|---|---|---|---|
| I i l du t r t t n e r n a o n a p ro c ev e nu e |
2, 3 7 4 |
2, 4 1 9 |
2 % - |
6 % + |
6 7 8 |
5 9 2 |
1 4 % |
5 % + |
| In te l r rn a ev e nu e - |
( 2 9 5 ) |
( 3 0 2 ) |
( 8 2 ) |
( 7 4 ) |
||||
| Ex l t e r n a r e e nu e v = |
2, 0 7 9 |
2, 1 1 7 |
% 2 - |
% 6 + |
5 9 6 |
5 1 8 |
% 1 5 |
% 5 + |
| N h A i t du t r o r m e r c a p ro c ev e nu e |
1, 6 3 4 |
1, 3 0 9 |
1 2 % + |
3 8 3 |
3 1 7 |
3 % + |
||
| In l r te rn a ev e nu e - |
( 6 4 ) 5 |
( 1 ) 5 5 |
( 1 0 ) 7 |
( 1 1 ) 5 |
||||
| Ex l t e r n a r e v e nu e = |
8 1 8 |
7 5 8 |
8 % + |
2 1 3 |
2 2 0 |
3 % - |
||
| T O T A L du t r p ro c ev e nu e |
3, 8 3 7 |
3, 7 2 8 |
3 % + |
8 % + |
1, 0 6 1 |
9 6 4 |
1 0 % + |
4 % + |
| In te l r rn a ev e nu e - |
( ) 9 4 0 |
( ) 8 5 3 |
( ) 2 5 2 |
( ) 2 2 6 |
||||
| Ex t l e r n a r e v e nu e = |
2, 8 9 7 |
2, 8 7 5 |
% 1 + |
% 6 + |
8 0 9 |
7 3 8 |
% 1 0 + |
% 3 + |
| C i l d i ( ) t t t a p a e x p e n u r e n e |
F | Y 2 0 0 9 |
F Y 2 0 0 8 |
Q 4 2 0 0 9 |
Q 4 2 0 0 8 |
|||
| Pu ha f p ty la t a d ip t rc s e o ro p e r p n n e q u m e n , |
( 5 7 4 ) |
( 6 8 7 ) |
( 1 7 5 ) |
( 1 8 5 ) |
||||
| Pr d fro le f p ty la t a d ip t o c e e s m s a o ro p e r p n n e q u m e n - , |
1 2 |
1 4 |
2 | 4 | ||||
| C i i ( ) l d t tu t a p a e p e n r e n e x = |
( ) 5 6 2 |
( ) 6 7 3 |
( ) 1 7 3 |
( ) 1 8 1 |
||||
| C h F l a s o w |
F Y 2 0 0 9 |
F Y 2 0 0 8 |
Q 4 2 0 0 9 |
Q 4 2 0 0 8 |
||||
| Ac is i io d In d ha f in i b le t tm t a t p ta ts q ns a n ve s e n n ne rc s e s o ng a s s e u u |
( 1 8 8 ) |
( 2 ) 7 7 |
( 9 ) 7 |
( 1 0 1 ) |
||||
| Pr d fro d ive i t tu o c e e s m s re s |
2 5 |
9 5 |
- | 1 3 |
||||
| A i i i f d iv i t t t tu c q u s o n s, n e o e s r e s |
( 1 3 6 ) |
( 2 1 8 ) |
( 7 9 ) |
( 8 8 ) |
All numbers are in \$ millions
| F Y 2 0 0 9 |
C i i l n c s |
i P t t a e n s |
T t t r e a m e n s ( in i l l io ) m n |
|---|---|---|---|
| T t l o a |
2 5 5 3 , |
1 9 5 6 5 1 , |
2 9 4 |
| G t h r o w |
% 7 + |
% 6 + |
% 6 + |
| N t h A i o r m e r c a |
1 7 8 4 , |
1 3 2 2 6 2 , |
1 9 9 |
| G h t r o w |
6 % + |
% 5 + |
4 % + |
| I i l t t n e r n a o n a |
7 6 9 |
6 3 3 8 9 , |
9 5 |
| G t h r o w |
% 1 0 + |
% 9 + |
% 1 0 + |
| E u r o p e |
4 3 5 |
3 2 4 0 9 , |
4 8 |
| L t i A i a n m e r c a |
1 9 1 |
2 0 9 7 3 , |
3 2 |
| A i P i f i s a a c c - |
1 4 3 |
1 0 0 0 7 , |
1 5 |
Fresenius Medical Care AG & Co. KGaAInvestor RelationsElse Kröner Str. 161352 Bad Homburg v.d.H.
Oliver MaierHead of Investor Relations & Corporate Communications Tel.: +49-(0)6172-609-2601 Fax.: +49-(0)6172-609-2301 Email: [email protected]
Gerrit JostTel.: +49-(0)6172-609-5216 Fax.: +49-(0)6172-609-2301 Email: [email protected]
Terry L. Morris Tel.: +1-800-948-2538Fax.: +1-615-345-5605Email: [email protected] Ordinary shares WKN 578 580ISIN DE0005785802SEDOL1 5129074 DE
| Q 1 2 0 1 0 R l t e s s u |
– | C C f l l, M 4 2 0 1 0 o n e r e n c e a a y , |
|---|---|---|
| i A l G l M t n n u a e n e r a e e n g |
– | f / i M 1 1 2 0 1 0 F k M t a y r a n u r a n , , |
| Q 2 2 0 1 0 R l t e s s u |
– | C f C l l, A 3 2 0 1 0 t o n e r e n c e a g s u u , |
| Q 3 2 0 1 0 R l t e s u s |
– | C f C l l, N b 2 2 0 1 0 o n e r e n c e a o v e m e r , |
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The World's Leading Renal Therapy Company
2009 4th Quarter / Fiscal Year Results
Analyst Meeting, February 24, 2010
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