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In 2023, we expect revenue and earnings development in our business segments as shown in the table below:

Financial Targets by Business Segment 2023

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Operating Companies1 Targets 2023 Fiscal year 2022
Fresenius Kabi    
Revenue growth (organic) Low-to-mid-single-digit percentage growth €7,850 m
EBIT margin Around 1 percentage point below the structural margin band of 14% – 17% 13.8%
Fresenius Helios    
Revenue growth (organic) Mid-single-digit percentage growth €11,716 m
EBIT margin Within the structural margin band of 9% – 11% 10.1%
Investment Companies1 Targets 2023 Fiscal year 2022
Fresenius Medical Care2    
Revenue growth (in constant currency) Low-to-mid-single-digit percentage growth €19,398 m
EBIT growth (in constant currency) Flat-to-high-single-digit percentage decline €1,540 m
Fresenius Vamed    
Revenue growth (organic) Low-to-mid-single-digit percentage growth €2,359 m
EBIT margin Clearly below the structural margin band of 4 – 6% 0.8%
1 Before special items
2 In 2022, operating income was supported by €277 million (at current currency) of U.S. Provider Relief funding (PRF). There is no further receipt of PRF assumed for 2023. To provide a comparable basis for the 2023 earnings outlook, the basis is adjusted accordingly.