Fresenius Lifts Profit Outlook After Strong North America Performance

By Ulrike Dauer

FRANKFURT--Fresenius SE & Co. KGaA (FRE.XE) raised its full-year profit guidance after adjusted net profit rose 12% in the second quarter because of a strong performance at its Fresenius Kabi unit in North America.

Late Monday, Fresenius said it now expects 2016 adjusted net profit to rise between 11% and 14% over the 2015 figure, up from the previously anticipated rise of between 8% and 12%.

Fresenius confirmed its 2016 sales target of growth between 6% and 8%.

Fresenius Kabi, the group's clinical technology provider, also raised its full-year outlook for sales and EBIT. It now expects sales and adjusted EBIT in constant currency to grow between 3% and 5%. Fresenius Kabi reported a net profit rise of 7% to 180 million euros ($201.15 million) for the second quarter.

The group's quarterly adjusted net profit rose to EUR393 million, beating a EUR384 million forecast in a Dow Jones Newswires analyst poll. Earnings before interest and taxes increases 8% to EUR1.05 billion. Sales were up 2% at EUR7.1 billion.

All four business units contributed to the improvements.

Fresenius's biggest unit, Medical Care AG & Co. KGaA (FMS), the world's largest provider of dialysis products and services, reported a 22% rise in net profit to $294 million, on a 5% sales increase to $4.42 billion. It confirmed its full-year guidance.

-Write to Ulrike Dauer at [e-mail]

(END) Dow Jones Newswires

August 02, 2016 01:39 ET (05:39 GMT)

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