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Name | Symbol | Market | Type |
---|---|---|---|
Fresenius SE and Company KGaA (PK) | USOTC:FSNUY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.112 | -1.48% | 7.4405 | 7.32 | 7.63 | 7.53 | 7.4405 | 7.53 | 44,836 | 21:23:30 |
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 giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 22, 2022 01:46 ET (06:46 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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