Fresenius 4Q Net Profit Declines; Confirms Preliminary Guidance

   By Cecilia Butini 
 

Fresenius SE & Co. said Tuesday that its net profit declined slightly in the fourth quarter of 2020 on mostly flat sales, and confirmed its previously reported guidance for 2021.

The German healthcare company reported a profit of 494 million euros ($600.6 million) for the quarter before special items, down from EUR506 million the previous year, it said. Sales came in flat at EUR9.3 billion, Fresenius said.

The figures are within company guidance, Fresenius said, as it had previously reported in a preliminary statement.

For 2021, the company expects a hit from the coronavirus pandemic as previously reported in preliminary statements. It sees sales growth in the low to mid-single digit percentage range and broadly stable net income on year, it said.

Fresenius Medical Care, the company's dialysis division, reported net income of EUR372 million excluding special items in the fourth quarter, slightly up from EUR368 million the previous year, the company said. This meant Fresenius Medical Care achieved its 2020 targets as previously announced in preliminary results.

Write to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

February 23, 2021 01:31 ET (06:31 GMT)

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