Fresenius SE & Co. KGaA

Earnings Release • Nov 4, 2003

News Details

Ad-hoc | 4 November 2003 07:40

Fresenius AG english

Fresenius Group – First nine months 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Fresenius Group – First nine months 2003 Fresenius increased sales 6 % at constant currency in the first nine months of 2003. Due to exchange rate fluctuations in the currency translation, sales of the first nine months of 2003 at actual rates decreased 5 % to 5,254 million euros (first nine months 2002: 5,552 million euros). The operating income (EBIT) increased 8 % at constant currency. At actual rates, EBIT of the first nine months of 2003 decreased 4 % to 590 million euros (Q1-3/2002: 617 million euros). Net income grew significantly at both, constant currency and actual rates (+38 % and +24 % respectively). Earnings per preference share were 2.57 euro in the first nine months of 2003, up from 2.08 euro in 2002. The Group’s 2003 full-year expectations for a mid single-digit revenue growth rate at constant currency remain unchanged. Fresenius Medical Care and Fresenius Kabi performed very well during the first nine months of 2003. The Group expects this trend to continue in the fourth quarter. Fresenius ProServe’s performance during the third quarter 2003 was marked by declining bed utilization rates in the German hospitals, project delays and a general investment caution of the pharma industry. Fresenius ProServe plans to focus its business operations to improve profitability. In addition to the restructuring program initiated in the second quarter for Wittgensteiner Kliniken AG (WKA), Fresenius ProServe will take measures in the current year to reorganize its health care project and Pharma Industry businesses. The Managing Board maintains its forecast that, at constant currency and before one-time expenses for the WKA program and the reorganization of the health care project and Pharma Industry businesses, the Group’s net income will increase at a double-digit rate. After one-time expenses, it is expected that net income at constant currency will show a high single to low double digit rate decrease compared to previous year. The Managing Board, Bad Homburg v.d.H., November 4, 2003 end of ad-hoc-announcement (c)DGAP 04.11.2003 ——————————————————————————– WKN: 578560; ISIN: DE0005785604; Index: MDAX Listed: Amtlicher Markt in Düsseldorf, Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Hamburg und Stuttgart 040740 Nov 03