Fresenius 3Q Net Profit Fell Less Than Expected; Backs 2020 Outlook

   By Mauro Orru 
 

Fresenius SE & Co. said Thursday that net income before special items for the third quarter fell, while sales rose slightly, and backed its 2020 outlook.

The German health-care company said net income before special items fell 4% to 427 million euros ($501.6 million), beating a Vara Research consensus of EUR418 million.

Earnings before interest and taxes before special items for the quarter fell 3% to EUR1.11 billion, 1% ahead of consensus.

Sales rose 1% to EUR8.92 billion compared with consensus of EUR8.88 billion.

Fresenius said the coronavirus pandemic would continue to harm operations in the fourth quarter, but backed its guidance for 2020 sales growth between 3% to 6% at constant currencies and for net income to fall up to 4% or rise up to 1% at constant currencies.

At Fresenius Medical Care AG & Co, the company's dialysis division, third-quarter net profit rose to EUR354 million from EUR333 million, while revenue remained largely flat at EUR4.41 billion.

Write to Mauro Orru at [e-mail]; @MauroOrru94

(END) Dow Jones Newswires

October 29, 2020 02:31 ET (06:31 GMT)

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