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Fresenius SE & Co. KGaA

Investor Presentation • Feb 24, 2010

166_ip_2010-02-24_4b0a2842-86f3-49ad-9753-c633228c21b1.pdf

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Analyst Meeting – 2009 Results

February 24, 2010

Safe Harbor Statement

This presentation contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements contained in this presentation.

2009 – Significant Accomplishments in a Challenging Economic Environment

  • -Record sales and earnings – guidance fully met or exceeded
    • All business segments and regions contributing to strong sales and earnings growth
  • -Record cash flow – ahead of schedule in reducing leverage
  • -Portfolio balance and earnings diversification further improved

Fresenius Group: Financial Results

Fresenius SE: 17th Consecutive Dividend Increase Proposed

  • Proposed dividend: €0.75 per ordinary share €0.76 per preference share
  • 7% dividend increase
  • Total distribution: €122 m

Fresenius Group: Financial Results

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*Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting

Fresenius Group: Financial Results by Business Segment

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Fresenius Kabi: Achievements 2009

  • 2009 sales and earnings guidance achieved
  • APP Pharmaceuticals
  • 8% sales growth in non-heparin portfolio in FY/09
  • 35 ANDAs provide growth momentum, representing US\$7 bn of 2008 market value
  • On track for €50 to 70 million p.a. synergy sales by 2013
  • 2010 and mid-term guidance slightly adjusted to reflect delayed IV drug launches, lower heparin sales, and price competition

Fresenius Kabi: Asia-Pacific and Latin America with 15% Organic Sales Growth

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Fresenius Helios: Achievements 2009

  • Excellent organic sales growth of 7%
  • EBIT margin in established clinic portfolio at 9.5% (+120 bps); newly-acquired clinics fully on track
  • Further quality improvement 82% of quality targets met or exceeded (2008: 76%)
  • Number of privatization opportunities expected to increase in 2010 driven by funding constraints of municipalities

Fresenius Vamed: Achievements 2009

  • Outstanding year with 18% sales and 20% EBIT growth – significantly overachieving guidance
  • Order entry (€539 million) and backlog (€679 million) at all-time high
  • First major order entry in German project business – upgrade maximum care hospital in Cologne-Merheim including technical management contract
  • Major service contracts prolonged e.g., Charité Berlin and new contracts won
  • e.g., two Austrian hospitals, combined > 1,200 beds

Fresenius Biotech: Update

    • Market launch of trifunctional antibody Removab in Germany; sales since launch > €2.0 million
    • Expect 2010 launch of Removab in several EU countries, including France, Italy, Spain, Scandinavia and Benelux
    • Removab post marketing trials ongoing. Last patient in 2010, study report 2011
  • Phase II gastric and ovarian cancer studies showed the antibody was safe and welltolerated, also in an adjuvant setting
  • Future clinical development strategy: solid tumors or peritoneal carcinomatosis

Group Financials 2009 Outlook 2010

Fresenius Group: 2009 Guidance Fully Achieved or Exceeded

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* Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting

Fresenius Business Segments: 2009 Guidance Fully Achieved or Exceeded

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Fresenius Group: Profit and Loss Statement

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* Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting

Fresenius Kabi: Strong EBIT Growth

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Fresenius Helios: Excellent Sales and Earnings Growth

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Fresenius Helios: 2009 Restructuring Plan

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Fresenius Vamed: Excellent Sales and EBIT Growth –Order Intake and Order Backlog at All-time High

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*Project business only

Cash Flow Development

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* Before Acquisitions and Dividends

FY/09: Includes Fresenius Medical Care's dividend payment to Fresenius SE of €62 million

Fresenius Group: Debt and Interest Ratios

Debt excludes Mandatory Exchangeable Bonds

*Pro forma APP acquisition and before special items

Fresenius Group: 2010 Financial Outlook

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Fresenius Group: 2010 Financial Outlook

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o
v
u
r
w
t
t
t
o
n
n
e
n
a
c
s
a
c
u
r
r
c
y		 9
%
7
–
*
h
N
i
t
t
e
n
c
o
m
e
g
r
o
w
t
t
t
a
c
o
n
s
a
n
c
e
n
c
u
r
r
y		 8
1
0
%
–
C
p
e
a
x		 f
l
5
%
G
o
o
p
e
r
u
s
a
s
~

* Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting

Attachments

Special items

    • Other financial result:
    • CVR (Contingent Value Right): The trading price of the CVR on the B/S date is considered as fair redemption value. Changes of this value are recognized in the P&L. Valuation changes will lead to quarterly gains or expenses until maturity.
    • Calculation as of December 31, 2009: between trading price of US\$0.35 at December 31, 2008 and trading price at December 31, 2009 of US\$0.30 multiplied by 163.3 million CVRs = US\$8.2 million = €6 million.
  • MEB (Mandatory Exchangeable Bond): Mark-to-market accounting based on the Black-Scholes valuation model reflecting FMC's share price. Any change in fair value is recognized in the P&L. Valuation changes will lead to gains or expenses until maturity.

Fresenius Group:

Overview – Calculation of Noncontrolling Interest

€
m		 2
0
0
9		 8
2
0
0
b
f
d
l
l
i
i
i
E
t
t
t
t
a
n
n
g
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a
a
n
n
o
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c
o
n
o
n
g
n
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e
s
r
r
x
r
r		 1
3
4
4
,		 1
1
1
4
,
T
a
x
e
s		 4
5
2
-		 *
4
3
1
-
l
l
h
f
N
i
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t
t
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t
o
n
c
o
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r
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o		 9
4
7
-		 3
*
4
1
-
d
l
C
F
i
M
i
t
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a
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m
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b
b
l
(
)
i
F
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6
4
%
t
t
t
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a
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s
r
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r
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~		 4
1
1
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6
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l
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d
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F
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(
/
\$
/
\$
d
F
Y
2
0
0
8
U
S
4
2
F
Y
2
0
0
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S
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m
m
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:
:
r
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l
)
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M
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s
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c
a
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a
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c
a
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m
e
n
s
r
u
r		 3
5
-		 *
2
9
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l
l
h
l
d
b
N
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F
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K
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s
a
r
r
r
r
u
(
€
1
6
),
i
l
i
(
€
1
0
)
d
d
F
H
t
m
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n
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m
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a
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-
-
d
's
2
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%
l
h
(
)
F
i
V
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€
7
t
r
e
s
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n
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s
a
m
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x
e
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n
a
o
w
n
e
r
s
p
m
-		 3
3
-		 2
8
-
b
b
l
N
i
i
F
i
S
E
t
t
t
t
t
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n
c
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m
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a
a
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s
e
n
s
r
u
r
u
A
*
dj
d a
din
tin
le
SF
AS
1
6
0
te
to
us
cco
r
g
ne
w
ac
co
un
g
ru		 4
9
4		 2
7
0

Fresenius Group: Cash Flow

€
m		 Q
/
4
0
9		 /
F
Y
0
9		 /
F
Y
0
9
Y
Y
o
O
i
C
h
l
F
t
p
e
r
a
n
g
a
s
o
w		 4
3
3		 1
5
5
3
,		 %
4
5
C
(
)
t
a
p
e
x
n
e		 2
1
6
-		 2
6
6
-		 0
1
%
F
C
h
F
l
r
e
e
a
s
o
w
f
(
b
i
i
i
d
d
i
i
d
d
)
t
e
o
r
e
a
c
q
u
s
o
n
s
a
n
v
e
n
s		 2
1
7		 8
9
1		 %
1
6
4
A
i
i
i
t
(
)
t
c
q
s
o
n
s
u
n
e		 6
7
-		 2
2
7
-		 9
2
%
d
d
D
i
i
v
e
n
s		 1
2
-		 2
7
5
-		 1
2
%
-
C
h
l
F
F
r
e
e
a
s
o
w
(
f
i
i
i
d
d
i
i
d
d
)
t
t
a
e
r
a
c
q
u
s
o
n
s
a
n
v
e
n
s		 3
8
1		 3
8
9		 %
1
1
4

Fresenius Group: Solid Balance Sheet Structure

Fresenius Group: Debt Maturity Profile *December 31, 2009

*Based on utilization of major financing instruments; excl. Fresenius Medical Care's Accounts Receivable Facility

Fresenius Kabi: Organic Sales Growth in Line with Expectations

€
m		 2
0
0
9		 2
0
0
8		 O
i
r
g
a
n
c
G
h
t
r
o
w
f
h
I
i
T
n
u
s
o
n
e
r
a
p
y		 2
7
1		 6
8
3		 6
%
I
V
D
g
r
u
s		 0
2
1
7
,		 6
3
5		 *
9
%
l
l
C
i
i
i
i
N
t
t
n
c
a
o
n
u
r		 9
2
4		 8
4
5		 1
0
%
d
l
/
M
i
D
i
e
c
a
e
c
e
s
v
f
h
l
T
i
T
a
n
s
s
o
n
e
c
n
o
o
g
r
u
y		 4
2
3		 4
0
4		 5
%
T
l
l
t
o
a
s
a
e
s		 8
3
0
6
,		 2
4
9
5
,		 8
%

* Organic growth calculation for IV drugs includes APP and Dabur just for the month of September to December as these businesses where consolidated as of September 1, 2008. January to August calculation is based on pre-existing IV drug business of Fresenius Kabi.

Fresenius Kabi: Organic Sales Growth in Line with Expectations

€
m		 2
0
0
9		 2
0
0
8		 O
i
r
g
a
n
c
G
h
t
r
o
w
E
o
p
e
u
r		 6
6
1
5
,		 9
9
1
4
,		 %
5
h
N
A
i
t
o
r
m
e
r
c
a		 2
8
7		 3
3
6		 /
n
a
f
A
i
P
i
i
s
a
a
c
c
-		 4
8
2		 3
8
1		 1
5
%
/
f
i
i
i
L
t
A
A
a
n
m
e
c
a
c
a
r
r		 3
1
0		 2
9
7		 1
3
%
l
l
T
t
o
a
s
a
e
s		 3
0
8
6
,		 2
4
9
5
,		 %
8

Fresenius Kabi: Profit and Loss Statement

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
l
S
a
e
s
f
d
l
d
C
t
o
s
o
g
o
o
s
s
o
f
G
i
t
o
s
s
p
o
r
r
f
l
%
o
s
a
e
s		 3
0
8
6
,
1
6
4
2
-
,
1
4
4
4
,
8
4
6		 2
4
9
5
,
1
3
9
2
-
,
0
3
1
1
,
4
4
2		 8
%
i
h
t
o
r
g
a
n
c
g
r
o
w
S
G
&
A
f
l
%
o
s
a
e
s		 0
8
7
-
2
2
9		 5
5
1
-
2
2.
1
R
&
D
e
p
e
n
s
e
s
x
%
f
l
o
s
a
e
s		 1
2
9
-
2
4		 1
0
9
-
4
4
E
B
I
T
D
A		 7
4
2		 5
4
4
i
%
m
a
g
n
r		 2
4
0		 2
1.
8

Fresenius Kabi: Profit and Loss Statement (cont'd)

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
E
B
I
T
i
%
m
a
r
g
n		 6
0
7
1
9
7		 3
4
4
1
7.
8
N
i
t
t
t
e
n
e
e
s
r		 3
0
2
-		 1
4
5
-		 l
d
f
M
i
t
A
P
P
i
i
a
n
y
u
e
o
n
a
n
c
n
g
b
f
E
i
t
a
n
n
g
s
e
o
e
a
e
s
r
r
x
d
l
l
i
t
n
n
o
n
o
n
o
n
g
a
c
r
i
t
t
n
e
e
s
r		 3
0
5		 2
9
8
I
t
n
c
o
m
e
a
e
s
x
T
%
t
a
a
e
x
r		 8
9
-
2
9
2		 8
8
-
2
9
5
l
l
N
i
i
t
t
t
o
n
c
o
n
r
o
n
g
n
e
r
e
s		 1
6
-		 1
0
-
*
N
i
t
e
n
c
o
m
e		 2
0
0		 2
0
0

*Attributable to Fresenius Kabi AG

Fresenius Kabi: Cash Flow Statement

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
N
i
t
e
n
o
m
e
c
(
l.
l
l
)
i
i
i
t
t
t
n
n
o
n
o
n
o
n
g
n
e
e
s
c
c
r
r		 2
1
6		 2
0
1
/
D
i
i
i
i
t
t
t
e
p
r
e
c
a
o
n
a
m
o
r
z
a
o
n		 1
3
5		 1
0
1
h
k
l
C
i
i
i
t
a
n
g
e
n
w
o
r
n
g
c
a
p
a		 4
6		 1
0
6
-		 M
i
l
d
i
b
f
b
l
a
n
y
r
v
e
n
y
a
v
o
r
a
e
b
l
i
t
r
e
c
e
v
a
e
s
m
a
n
a
g
e
m
e
n
h
f
l
f
C
i
t
a
s
o
o
m
o
p
e
a
o
n
s
w
r
r
M
i
%
a
g
n
r		 3
9
7
1
2
9		 2
0
5
8.
2
C
A
P
E
X
t
n
e
,		 1
2
5
-		 2
2
1
-		 d
6
8
%
i
i
t
s
c
e
o
n
a
r
r
y,
h
f
l
C
a
s
o
w
f
b
i
i
i
d
d
i
i
d
d
t
e
o
r
e
a
c
q
u
s
o
n
s
a
n
v
e
n
s		 2
7
2		 8
3		 d
3
2
%
i
i
t
n
o
n-
s
c
r
e
o
n
a
r
y
A
i
i
i
t
t
c
q
s
o
n
s
n
e
u
,		 2
6
-		 2
7
9
3
-
,
h
f
l
F
e
e
c
a
s
o
(
b
f
d
d
d
)
r
w
i
i
e
o
r
e
v
e
n
s		 2
4
6		 2
1
0
7
-
,

Fresenius Kabi: Balance Sheet

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
b
l
A
i
t
c
c
o
n
s
e
c
e
a
e
u
r
v		 6
1
2		 6
0
9		 S
O
(
3
2
0
0
9
)
3
d
D
D
1,
7
e
c
:
a
y
s
I
i
t
n
e
n
o
e
v
r
s		 5
6
0		 0
5
7		 (
)
d
S
O
I
D
3
1,
2
0
0
9
1
4
1
e
c
a
s
:
y
d
F
i
t
x
e
a
s
s
e
s		 4
6
3
3
,		 4
6
9
5
,		 G
d
i
l
l
(
D
3
1,
2
0
0
9
)
€
3,
4
8
1
o
o
w
e
c
:
m
O
h
t
t
e
a
s
s
e
s
r		 3
0
5		 2
9
4
l
T
t
t
o
a
a
s
s
e
s		 6
3
3
5
,		 6
2
4
0
,
b
D
t
e		 4
1
8
4
,		 2
8
8
4
,
h
l
b
l
O
i
i
i
i
t
t
e
a
e
s
r		 1
0
0
0
,		 9
5
6
E
i
t
q
(
l.
l
l
)
u
y
i
i
i
t
t.
n
c
n
o
n
c
o
n
o
n
g
n
r		 1
1
5
1
,		 9
9
6
b
d
T
l
l
i
i
l
i
i
t
t
o
a
a
e
s
a
n
h
h
l
d
'
i
t
s
a
r
e
o
e
r
s
e
q
u
y		 6
3
3
5
,		 6
2
4
0
,

Fresenius Helios: Exceptional Sales Growth

€
m		 2
0
0
9		 2
0
0
8		 G
h
t
r
o
w
b
l
h
d
l
f
l
E
i
i
i
i
t
t
s
a
s
e
c
n
c
p
o
r
o
o		 2
2
3
5
,		 *
2
0
1
5
,		 %
7
i
i
i
A
t
c
q
s
o
n
s
(
l
d
)
u
i
t
i
1
<
c
o
n
s
o
a
o
n
y
r		 1
6
3
D
i
i
t
t
e
s
e
s
(
d
l
i
d
i
1
)
v
u
r
t
<
e
c
o
n
s
o
a
o
n
y
r		 *
8
1
T
l
l
t
o
a
s
a
e
s		 2
4
1
6
,		 2
1
2
3
,		 %
1
4

*Prior year sales split adjusted to current portfolio

Fresenius Helios: Performance Indicators

2
0
0
9		 2
0
0
8		 C
h
a
n
g
e
f
h
l
i
N
t
o
o
o
s
p
a
s
l
A
i
i
t
c
e
c
n
c
s
u
-
l
P
i
i
t-
t
o
s
a
c
u
e
c
a
r
e
c
n
c
s
-		 6
2
4
3
1
9		 5
7
3
8
1
9
f
b
d
N
o
o
e
s
l
i
i
A
t
c
u
e
c
n
c
s
-
l
P
t-
t
i
i
o
s
a
c
u
e
c
a
r
e
c
n
c
s
-		 8
8
3
1
5
,
1
1
1
6
5,
3,
6
4
7		 2
9
1
7
4
,
1
3,
3
3
7
3,
6
5
1		 8
%
1
0
%
%
-1
*
d
A
i
i
m
s
s
o
n
s
(
)
A
i
i
t
t
t
c
e
c
a
e
n-
p
a
e
n
u
r
-		 8
2
3
5
6,
1		 3,
9
9
0
5
1		 1
4
%
*
O
c
c
p
a
n
c
u
y
P
t-
t
o
s
a
c
e
c
a
e
u
r
-		 8
3
%		 8
3
%
*
l
h
f
(
d
)
A
t
t
e
g
e
e
n
g
o
v
r
a
s
a
y
a
y
s
A
t
c
u
e
c
a
r
e
-
P
t-
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1
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9
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1
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1
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d
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f
l
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i
%
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e
n
o
s
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e
s		 0
2
%		 0
3
%

Analyst Meeting – FY 2009 Results, Fresenius SE, Investor Relations © Copyright, February 24, 2010 Page 38

*Clinics in Germany

Fresenius Helios:Sales Impact Hospital Acquisitions

i
i
i
A
t
c
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1
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a
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,

Fresenius Helios: Profit & Loss Statement

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
l
S
a
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4
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6
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1
2
3
,
O
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t
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:
l
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t
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a
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a
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w		 1
4
4
6
,		 1,
2
4
6		 f
f
D
i
i
t
t
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e
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w
a
g
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a
r
n
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s
d
l
d
l
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a
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w
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a
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S
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p
p
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u		 4
9
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3
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h
t
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r
s		 1
9
0		 1
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6
E
B
I
T
D
A
%
M
i
a
r
g
n		 2
8
6
8
1
1.		 2
1
5
8
1
1.
/
D
i
i
i
i
t
t
t
e
p
e
c
a
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a
m
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o
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r
r
z		 8
1		 6
7
E
B
I
T
M
i
%
a
g
n
r		 2
0
5
8
5		 1
7
5
8.
2

Fresenius Helios: Profit & Loss Statement (cont'd)

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
N
i
t
t
t
e
n
e
r
e
s		 5
5
-		 6
0
-		 l
d
l
P
i
i
t
t
m
a
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a
e
s
r
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y
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b
d
E
i
t
n
n
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s
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a
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s
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l
i
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t
t
t
n
o
n
c
o
n
r
o
n
g
n
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r
e
s		 1
5
0		 1
1
5
I
t
n
c
o
m
e
a
e
s
x
T
%
t
a
x
r
a
e		 3
2
-
2
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3		 2
3
-
2
0.
0
l
l
N
i
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t
t
t
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r
r
s		 1
1
-		 2
1
-
*
N
i
t
e
n
c
o
m
e		 1
0
7		 8
0

*Attributable to Helios Kliniken GmbH

Fresenius Helios: Cash Flow

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
i
N
t
e
n
c
o
m
e
(
l.
l
l
)
i
t
i
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t
t
n
c
n
o
n
c
o
n
o
n
g
n
e
e
s
r
r		 8
1
1		 9
2
/
i
i
i
i
D
t
t
t
e
p
e
c
a
o
n
a
m
o
a
o
n
r
r
z		 8
1		 6
7
h
k
l
C
i
i
i
t
a
n
g
e
n
o
n
g
c
a
p
a
w
r		 2
0		 5
7
h
f
l
f
C
i
t
a
s
o
o
m
o
p
e
a
o
n
s
w
r
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M
i
%
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g
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r		 2
1
9
9
1		 2
2
5
1
0.
6
C
A
P
E
X
t
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e
,		 1
2
4
-		 3
1
1
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C
h
l
a
s
o
w
b
f
d
d
d
d
i
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i
t
e
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e
a
c
q
u
s
o
n
s
a
n
v
e
n
s		 9
5		 9
4
A
i
i
i
t
t
c
q
u
s
o
n
s
n
e
,		 6
2
-		 3
h
f
l
F
(
b
f
d
d
d
)
r
e
e
c
a
s
o
w
i
i
e
o
e
e
n
r
v
s		 3
3		 9
7

Fresenius Helios: Balance Sheet

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
9
0
0
e
m
a
r
s
i
b
l
A
t
c
c
o
u
n
s
r
e
c
e
v
a
e		 2
3
9		 2
2
2		 S
O
2
0
0
9
3
6
d
(
2
0
0
8
3
8
)
D
:
a
y
s
:
l
d
(
)
P
i
t
t
t
t
o
p
e
p
a
n
a
n
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q
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m
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n
n
e
r
r
y
u
,		 1
0
0
0
,		 9
4
5
d
l
l
G
i
o
o
w		 8
1
5
9
,		 3
1,
5
7		 l.
d
l
l
f
h
O
S
I
i
t
H
E
L
I
n
c
g
o
o
w
r
o
m
e
i
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i
i
2
0
0
5
(
€
1,
1
6
6
)
t
a
c
q
u
s
o
n
n
m
O
h
t
t
e
r
a
s
s
e
s		 3
6
2		 3
8
8
T
l
t
t
o
a
a
s
s
e
s		 3
1
9
9
,		 3
0
9
2
,
b
D
t
e		 1
0
9
9
,		 1,
0
9
0		 l.
d
b
f
O
S
I
t
H
E
L
I
i
i
t
i
n
c
e
r
o
m
a
c
q
u
s
o
n
2
0
0
(
€
6
0
0
)
i
5
n
m
O
h
l
b
l
i
i
i
i
t
t
e
r
a
e
s		 7
7
1		 9
7
1
i
E
t
(
i
l.
l
l
i
i
)
t
t
t
q
u
y
n
c
n
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n
c
o
n
r
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n
g
n
e
r
e
s		 1
3
2
9
,		 1,
2
8
3		 E
i
i
4
1.
5
%
t
t
q
a
o
u
y
r
:
l
l
i
b
i
l
i
i
d
T
t
t
o
a
a
e
s
a
n
d
h
h
l
i
'
t
s
a
r
e
o
e
r
s
e
q
u
y		 3
1
9
9
,		 3
0
9
2
,

Fresenius Vamed: Sustainable EBIT Development

€
m		 2
0
0
9		 2
0
0
8		 C
h
a
n
g
e
b
P
j
i
t
o
e
c
s
n
e
s
s
r
u
i
M
a
r
g
n		 8
1
4
3
%		 1
5
4
5
%		 2
0
%
b
S
i
i
e
c
e
s
n
e
s
s
r
v
u
M
i
a
g
n
r		 8
1
9
%
1		 1
5
8.
0
%		 2
0
%
l
T
E
B
I
T
t
o
a		 3
6		 3
0		 2
0
%
M
i
a
r
g
n		 8
%
5		 %
5
7
*
N
i
t
e
n
c
o
m
e		 2
7		 2
6		 %
4

*Attributable to Vamed AG

Fresenius Vamed: Profit & Loss Statement

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
S
l
e
a
s		 8
6
1		 2
5
4		 h
O
i
1
5
%
t
g
a
n
c
g
o
r
r
w
:
f
C
d
l
d
t
o
s
o
g
o
o
s
s
o		 5
2
3		 3
9
4
f
G
i
t
o
s
s
p
o
r
r
M
i
%
a
r
g
n		 9
5
1
5
4		 8
5
1
6.
2
&
S
G
A
%
f
l
o
s
a
e
s		 5
9
9
5		 5
5
0.
1
5
E
B
I
T
D
A
M
i
%
a
g
n
r		 4
2
8
6		 3
5
6.
7
E
B
I
T
M
i
%
g
n
a
r		 3
6
5
8		 3
0
5.
7

Fresenius Vamed: Profit & Loss Statement (cont'd)

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
i
N
t
t
t
e
n
e
e
s
r		 3 6 d
I
i
t
t
t
t
n
e
e
s
n
c
o
m
e
e
o
p
e
p
a
m
e
n
s
r
u
r
y
b
f
i
E
t
a
n
n
g
s
e
o
e
a
e
s
r
r
x
d
l
l
i
t
a
n
n
o
n
c
o
n
r
o
n
g
i
t
t
n
e
e
s
r		 3
9		 3
6
I
t
n
c
o
m
e
a
e
s
x
T
%
t
a
a
e
x
r		 1
2
2
9
9		 1
0
2
7.
0
l
l
i
i
N
t
t
t
o
n
c
o
n
o
n
g
n
e
e
s
r
r		 0 0
*
i
N
t
e
n
c
o
m
e		 2
7		 2
6
O
(
b
f
)
%
R
E
t
e
o
r
e
a
x
e
s		 2
2
0		 2
2
2

*Attributable to Vamed AG

Fresenius Vamed: Cash Flow

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
N
i
t
(
l.
l
l
)
e
n
c
o
m
e
i
i
i
t
t
t
n
c
n
o
n
c
o
n
o
n
g
n
e
e
s
r
r		 2
7		 2
6
/
D
i
i
i
i
t
t
t
e
p
r
e
c
a
o
n
a
m
o
r
z
a
o
n		 6 5
C
h
k
l
i
i
i
t
n
g
e
n
o
n
g
p
a
w
r
c
a
a		 4
-		 4
-
f
f
C
h
l
i
t
o
o
m
o
p
e
o
n
a
s
w
r
r
a
s
M
i
%
a
r
g
n		 2
9
4
7		 2
7
5.
2
C
A
P
E
X
t
n
e
,		 5
-		 4
-
h
f
l
C
a
s
o
w
b
f
i
i
i
d
d
i
i
d
d
t
e
o
r
e
a
c
q
u
s
o
n
s
a
n
v
e
n
s		 2
4		 2
3
A
i
i
i
t
t
c
q
s
o
n
s
n
e
u
,		 1
-		 2
2
-
h
f
l
F
e
e
c
a
s
o
(
b
f
d
i
i
d
d
)
r
w
e
o
r
e
v
e
n
s		 2
3		 1

Fresenius Vamed: Balance Sheet

€
m		 2
0
0
9		 2
0
0
8		 R
k
2
0
0
9
e
m
a
r
s
b
l
A
i
t
c
c
o
n
s
e
c
e
a
e
u
r
v		 7
8		 8
6		 S
O
(
3
1,
2
0
0
9
)
d
D
D
4
4
e
c
:
a
y
s
l
d
P
i
t
t
t
o
p
e
p
a
n
a
n
e
q
p
m
e
n
r
r
y
u
,		 2
6		 2
6
b
l
I
i
t
t
n
a
n
g
e
a
s
s
e
s		 8
4		 8
4
O
h
t
t
e
a
s
s
e
s
r		 3
0
4		 3
0
9		 C
h
&
C
h
i
l
t
a
s
a
s
e
q
u
v
a
e
n
s
l
T
t
t
o
a
a
s
s
e
s		 4
5
6		 4
6
9		 (
3
2
0
0
9
)
€
D
1,
1
7
4
e
c
:
m
b
D
t
e		 2 2
O
h
l
b
l
t
i
i
i
t
i
e
r
a
e
s		 2
7
7		 3
0
7
E
i
t
(
i
l.
l
l
i
i
)
t
t
t
q
u
y
n
c
n
o
n
c
o
n
r
o
n
g
n
e
r
e
s		 1
7
7		 1
6
0		 (
3
0
9
)
3
8
8
%
E
i
t
R
t
i
D
1,
q
u
y
a
o
e
c
:
l
l
i
b
i
l
i
i
d
T
t
t
o
a
a
e
s
a
n
h
h
l
d
i
'
t
s
a
r
e
o
e
r
s
e
q
u
y		 4
5
6		 4
6
9

*

Fresenius Group: Key Figures According to IFRS

€
m		 2
0
0
9
G
U
S
A
A
P		 2
0
0
9
I
F
R
S
l
S
a
e
s		 1
4
1
6
4
,		 1
4
1
6
5
,
E
B
I
T		 2
0
5
4
,		 2
0
0
4
,
N
i
t
t
t
e
n
e
e
s
r		 5
8
0
-		 5
8
0
-
*
N
i
t
e
n
c
o
m
e		 9
4
4		 4
7
6
**
d
d
N
i
j
t
t
e
n
c
o
m
e
a
s
e
u
,		 5
1
4		 4
9
6
O
h
f
l
i
C
t
p
e
r
a
n
g
a
s
o
w		 3
1
5
5
,		 1
5
6
4
,
l
h
l
B
t
t
t
a
a
n
c
e
s
e
e
o
a		 2
0
8
8
2
,		 2
1
1
4
8
,

Net income attributable to Fresenius SE ** Net income attributable to Fresenius SE before special items due to MEB and CVR accounting

Financial Calendar

  • 04.05.2010 Report on 1st quarter 2010
  • 12.05.2010 Annual General Meeting, Frankfurt/Main
  • 03.08.2010 Report on 1st half 2010
  • 02.11.2010 Report on 1st-3rd quarters 2010

Contact

  • Birgit Grund SVP Investor Relations Fresenius SE
  • Telephone: +49 6172 608-2485 e-mail: [email protected]

For further information and current news: http://www.fresenius.com

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