Fresenius 4Q Profit Rose; Sets 2022 Guidance

   By Giulia Petroni 
 

Fresenius SE & Co. KGaA on Tuesday said profit rose in the fourth quarter of last year and set guidance for 2022.

The German healthcare company reported a quarterly net profit before special items of 521 million euros ($590.8 million), from EUR494 million in the previous-year period.

Sales grew 5% on year at constant currency to EUR9.97 billion, it said.

Looking at the current year, Fresenius said it expects sales growth in a mid-single-digit percentage range, while net profit is expected to grow in a low-single-digit percentage range. Both projections are at constant currency.

The company said it expects Covid-19 to continue affecting operations, but cases should decline from the spring onward. Headwinds from cost inflation are reflected, though the company said it doesn't see a significant acceleration of inflation effects and supply challenges.

Fresenius confirmed its growth targets for the 2020-23 period, saying it anticipates organic sales growth to reach the bottom to the middle of the targeted 4% to 7% compounded annual growth rate. Organic net profit growth is expected at the bottom end of the 5% to 9% CAGR during 2020-23, it said.

The company said it will propose a dividend increase of 5% on year to EUR0.92 a share for 2021.

Write to Giulia Petroni at [e-mail]

(END) Dow Jones Newswires

February 22, 2022 01:46 ET (06:46 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.