Fresenius 2Q Net Income, Sales Grew; Raises Earnings Guidance

   By Cecilia Butini 
 

Fresenius SE & Co. KGaA said Friday that sales and net income grew in the second quarter, and raised its earnings guidance for the full year.

The German health-care company posted net profit of 474 million euros ($563.5 million) for the quarter, up from EUR410 million in the same quarter a year earlier, on sales that grew to EUR9.25 billion from EUR8.92 billion in 2020.

Earnings before interest and taxes before special items declined to EUR1.02 billion from EUR1.12 billion the year prior, Fresenius said.

The company raised its earnings guidance for the full year, now expecting net income to grow in a long single-digit percentage range at constant currencies. Fresenius had previously expected an at least broadly stable net income development at constant currencies. Its sales growth outlook remains the same, as the company projects sales growth in a low-to-mid single digit percentage range at constant currencies.

Fresenius Medical Care, the company's dialysis division, reported a declining net profit for the quarter, which came in at EUR219 million from EUR351 million the year prior. Revenue was EUR4.32 billion, compared with EUR4.56 billion in 2020. The company said that the pandemic continues to adversely affect the business.

Write to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

July 30, 2021 01:41 ET (05:41 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.