Targets, results, and outlook
Download(XLS, 37 KB)| Targets 20221 | Results 2022 | Outlook 2023 | ||
|---|---|---|---|---|
| Fresenius Group | ||||
| Revenue growth (in constant currency) | Growth in a low-to-mid- single-digit percentage range | 4% | Revenue growth (organic) | Low-to-mid-single-digit growth |
| Net income3 growth(in constant currency) | Decline of around 10% | -10% | EBIT growth2 (in constant currency) | Broadly flat to high-single-digit decline |
| EBIT growth4 (in constant currency) excluding FMC (Fresenius Medical Care) | Broadly flat to mid-single-digit decline | |||
| Capital management and efficiency | ||||
| Cash flow margin | 8% to 10% | 10.3% | Cash conversion rate (CCR)4 | around 1 |
| Net debt / EBITDA | to be roughly on the same level as in Q3 / 22 (3.64x) by the end of 20225 | 3.58 x5 | Net debt / EBITDA6 | Without further acquisitions and depending on divestment activities, at the end of 2023 to be slightly above the level of year-end 2022 (December 31, 2022: 3.65×) |
| ROIC4, 7 | Decline around one percentage point below the level of 2022 (5,1%). | |||
| 1 Before special items; including expected COVID-19 effects (updated in October 2022; more information within table of achieved Group targets in chapter Overall business development) | ||||
| 2 Before special items; 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. | ||||
| 3 Net income attributable to shareholders of Fresenius SE & Co. KGaA, excluding acquisitions of Ivenix and mAbxience | ||||
| 4 Before special items | ||||
| 5 At average expected exchange rates for both net debt and EBITDA; pro forma closed acquisitions / divestitures; before special items, excluding acquisitions of Ivenix and mAbxience | ||||
| 6 At average expected exchange rates for both net debt and EBITDA; pro forma closed acquisitions / divestitures; before special items, including lease liabilities | ||||
| 7 Pro forma acquisitions | ||||
Targets, results, and outlook
Download(XLS, 37 KB)| Targets 20221 | Results 2022 | Outlook 20232 | ||
|---|---|---|---|---|
| Business segments | ||||
| Fresenius Medical Care3 | Fresenius Medical Care4 | |||
| Revenue growth(in constant currency) | Low-single-digit percentage growth | 2% | Revenue growth (in constant currency) | Low-to-mid-single-digit percentage growth |
| Net income5 growth (in constant currency) | Decline in the high teens to mid-twenties percentage range | -17% | EBIT growth (in constant currency) | Flat-to-high-single-digit percentage decline |
| Fresenius Kabi | Fresenius Kabi | |||
| Revenue growth(organic) | Low-single-digit percentage growth | 3% | Revenue growth (organic) | Low-to-mid-single-digit percentage growth |
| EBIT growth(in constant currency) | Decline in high-single- to low-double-digit percentage range | -10% | EBIT margin | Around 1 percentage point below the structural margin band of 14% – 17% |
| Fresenius Helios | Fresenius Helios | |||
| Revenue growth(organic) | Low-to-mid-single-digit percentage growth | 6% | Revenue growth (organic) | Mid-single-digit percentage growth |
| EBIT growth (in constant currency) | Mid-single-digit percentage growth | 5% | EBIT margin | Within the structural margin band of 9% – 11% |
| Fresenius Vamed | Fresenius Vamed | |||
| Revenue growth(organic) | Growth in mid-single-digit percentage range | 2% | Revenue growth (organic) | Low-to-mid-single-digit percentage growth |
| EBIT | Around €100 million | €20 million | EBIT margin | Clearly below the structural margin band of 4 – 6% |
| 1 Before special items, including estimated COVID-19 effects (updated in October 2022, more information within table of achieved Group targets in chapter Overall business development) | ||||
| 2 Before special items | ||||
| 3 These targets are based on the 2021 results excluding the costs related to FME25 of EUR 49 million (for Net Income). They are in constant currency and exclude special items. Special items include further costs related to FME25, the impact of the war in Ukraine, the impact of hyperinflation in Turkiye, the Humacyte investment remeasurement, the net gain related to InterWell Health and other effects that are unusual in nature and have not been foreseeable or not foreseeable in size or impact at the time of giving guidance. | ||||
| 4 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 | ||||
| 5 Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA | ||||