Fresenius Medical Care AG & Co. KGaA: Reports Strong Third Quarter and Nine Months Results; confirms Outlook for 2011
DGAP-News: Fresenius Medical Care AG & Co. KGaA / Key word(s): Quarter
Results
Fresenius Medical Care AG & Co. KGaA: Reports Strong Third Quarter and
Nine Months Results; confirms Outlook for 2011
02.11.2011 / 07:07
---------------------------------------------------------------------
Contact: Fresenius Medical Care AG & Co. KGaA
Oliver Maier Else-Kröner-Str.1
Phone: + 49 6172 609 2601 61352 Bad Homburg
Fax: + 49 6172 609 2301 Germany
www.fmc-ag.com
North America:
Terry L. Morris
Phone: + 1 800 948 2538
Fax: + 1 615 345 5605
E-mail: ir@fmc-ag.com November 2, 2011
Investor News
Fresenius Medical Care Reports Strong Third Quarter and Nine Months
Results; confirms Outlook for 2011
3rd Quarter 2011 Summary:
^
Net revenue $3,242 +6%
million
Operating income (EBIT) $534 million +8%
Net income attributable to Fresenius Medical Care $279 million +13%
AG & Co. KGaA
Earnings per share $0.92 +12%
°
Nine Months 2011 Summary:
^
Net revenue $9,473 +7%
million
Operating income (EBIT) $1,488 +7%
million
Net income attributable to Fresenius Medical Care $761 million +8%
AG & Co. KGaA
Earnings per share $2.51 +7%
°
Bad Homburg, Germany - Fresenius Medical Care AG & Co. KGaA ('the company'
or 'Fresenius Medical Care'; Frankfurt Stock Exchange: FME / New York Stock
Exchange: FMS), the world's largest provider of dialysis products and
services, today announced its results for the third quarter and first nine
months of 2011.
3rd Quarter 2011:
Revenue
Net revenue for the third quarter of 2011 increased by 6% to $3,242 million
(+4% at constant currency) compared to the third quarter of 2010. Organic
revenue growth worldwide was 1%. Dialysis services revenue grew by 4% to
$2,425 million (+3% at constant currency) and dialysis product revenue
increased by 11% to $817 million (+5% at constant currency).
North America revenue for the third quarter of 2011 decreased by 1% to
$2,050 million including the impact of the new Medicare end-stage renal
disease prospective payment system in the United States. Dialysis services
revenue decreased by 1% to $1,846 million with a same market growth of 3%.
Average revenue per treatment for U.S. clinics decreased to $345 in the
third quarter of 2011 compared to $359 for the corresponding quarter in
2010 reflecting the implementation of the new prospective payment system.
Dialysis product revenue decreased by 2% to $204 million, as increased
sales of hemodialysis products could not entirely offset lower pricing of
renal drugs.
International revenue increased by 20% to $1,187 million (+13% at constant
currency). Organic revenue growth was 6%. Dialysis services revenue
increased by 26% to $579 million (+20% at constant currency). Dialysis
product revenue increased by 15% to $608 million and increased by 7% at
constant currency, mainly driven by higher sales of peritoneal dialysis
products, dialyzers, solutions, concentrates and dialysis machines.
Earnings
Operating income (EBIT) for the third quarter of 2011 increased by 8% to
$534 million compared to $493 million in the third quarter of 2010. This
resulted in an operating margin of 16.5% for the third quarter of 2011
compared to 16.1% for the corresponding quarter in 2010.
In North America, the operating margin increased from 18.1% in the third
quarter of 2010 to 18.3% in the third quarter of 2011. This increase was
mainly favorably influenced by the development of pharmaceutical costs and
a positive impact from a royalty adjustment for Venofer(R). Average costs
per treatment for U.S. clinics decreased to $279 in the third quarter of
2011 compared to $289 for the corresponding quarter in 2010.
In the International segment, the operating margin increased from 15.8% to
17.3% mainly due to lower manufacturing costs, favorable exchange rate
effects and business growth in Asia-Pacific.
Net interest expense for the third quarter of 2011 was $68 million compared
to $70 million in the third quarter of 2010. This development was mainly
attributable to increased interest income related to the loan to Renal
Advantage Partners.
Income tax expense was $163 million for the third quarter of 2011 compared
to $153 million in the third quarter of 2010. The effective tax rate
decreased to 35.0% from 36.2%.
Net income attributable to Fresenius Medical Care AG & Co. KGaA for the
third quarter of 2011 was $279 million, an increase of 13% compared to the
corresponding quarter of 2010.
Earnings per share (EPS) for the third quarter of 2011 rose by 12% to $0.92
per ordinary share compared to $0.82 for the third quarter of 2010. The
weighted average number of shares outstanding for the third quarter of 2011
was approximately 303.2 million shares compared to 301.2 million shares for
the third quarter of 2010. The increase in shares outstanding resulted from
stock option exercises in the past 12 months.
Cash flow
In the third quarter of 2011, the company generated $463 million in cash
from operations, representing approximately 14% of revenue. The cash flow
generation was supported by a favorable development of days sales
outstanding (DSO) and increased earnings.
A total of $150 million in cash was spent for capital expenditures, net of
disposals. Free cash flow before acquisitions was $313 million compared to
$263 million in the third quarter of 2010. A total of $49 million in cash
was spent for acquisitions, net of divestitures. Free cash flow after
acquisitions and divestitures was $264 million compared to $176 million in
the third quarter of 2010.
Nine Months of 2011:
Revenue and Earnings
Net revenue for the first nine months of 2011 increased by 7% to $9,473
million (+4% at constant currency) compared to the first nine months of
2010. Organic revenue growth was 2% in the first nine months of 2011.
Operating income (EBIT) for the first nine months of 2011 increased by 7%
to $1,488 million compared to $1,385 million in the first nine months of
2010, resulting in an operating margin of 15.7% compared to 15.6% for the
first nine months of 2010.
Net interest expense for the first nine months of 2011 was $214 million
compared to $206 million in the same period of 2010.
Income tax expense for the first nine months of 2011 was $436 million
compared to $410 million in the same period in 2010, reflecting effective
tax rates of 34.2% and 34.7%, respectively.
For the first nine months of 2011, net income attributable to Fresenius
Medical Care AG & Co. KGaA was $761 million, up by 8% from the first nine
months of 2010.
In the first nine months of 2011, earnings per ordinary share rose by 7% to
$2.51. The weighted average number of shares outstanding during the first
nine months of 2011 was approximately 302.7 million.
Cash Flow
Cash from operations during the first nine months of 2011 was $950 million
compared to $1,027 million for the same period in 2010, representing
approximately 10% of revenue.
A total of $380 million in cash was spent for capital expenditures, net of
disposals. Free cash flow before acquisitions for the first nine months of
2011 was $570 million compared to $688 million in the same period in 2010.
A total of $1,171 million in cash was spent for acquisitions, net of
divestitures. Free cash flow after acquisitions and divestitures was -$601
million compared to $318 million in the first nine months of last year.
Please refer to the attachments for a complete overview on the third
quarter and first nine months of 2011 and the reconciliation of non-GAAP
financial measures included in this release to the most comparable GAAP
financial measures.
Patients - Clinics - Treatments
As of September 30, 2011, Fresenius Medical Care treated 228,239 patients
worldwide, which represents a 9% increase compared to the previous year's
figure. North America provided dialysis treatments for 140,422 patients, an
increase of 3%. Including 22 clinics managed by Fresenius Medical Care
North America, the number of patients in North America was 141,809. The
International segment provided dialysis treatments to 87,817 patients, an
increase of 18% over the prior year's figure.
As of September 30, 2011, the company operated a total of 2,874 clinics
worldwide, which represents a 6% increase compared to the previous year's
figure. The number of clinics is comprised of 1,838 clinics in North
America (1,860 including managed clinics), and 1,036 clinics in the
International segment, representing an increase of 2% and 14%,
respectively.
During the first nine months of 2011, Fresenius Medical Care delivered
approximately 25.46 million dialysis treatments worldwide. This represents
an increase of 9% compared to last year's figure. North America accounted
for 16.11 million treatments, an increase of 4%. The International segment
delivered 9.35 million treatments, an increase of 18%.
Employees
As of September 30, 2011, Fresenius Medical Care had 77,825 employees
(full-time equivalents) worldwide compared to 73,452 employees at the end
of 2010. This increase of more than 4,300 employees is due to overall
growth in the company's business and acquisitions.
Debt/EBITDA ratio
The ratio of debt to Earnings before interest, taxes, depreciation and
amortization (EBITDA) increased from 2.37 at the end of the third quarter
of 2010 to 2.55 at the end of the third quarter of 2011. The debt/EBITDA
ratio at the end of the second quarter 2011 was 2.77.
Rating
Standard & Poor's Ratings Services rates the company's corporate credit as
'BB' with a 'positive' outlook. Moody's rates the company's corporate
credit as 'Ba1' with a 'stable' outlook, and Fitch rates the company's
corporate credit as 'BB+' with a 'stable' outlook. For further information
on Fresenius Medical Care's credit ratings, maturity profiles and credit
instruments, please visit our website at www.fmc-ag.com / Investor
Relations / Credit Relations.
Acquisition of American Access Care Completed
The American Accesss Care (AAC) acquisition was closed effective October 1,
2011. AAC operates 28 freestanding out-patient centers primarily dedicated
to serving vascular access needs of dialysis patients. The acquired
operations will add approximately $175 million in annual revenue and are
expected to be accretive to earnings in the first year after closing of the
transaction.
Vifor Fresenius Medical Care Renal Pharma Ltd. Formation Completed
After the recent clearance by the European Union antitrust commissions the
formation of Vifor Fresenius Medical Care Renal Pharma Ltd. has been
completed globally on November 1, 2011.
Acquisition of Liberty Dialysis Holdings, Inc.
The acquisition of Liberty Dialysis Holdings, Inc. is on schedule and is
expected to close in the first quarter of 2012.
Issuance of floating rate senior notes
In October 2011, Fresenius Medical Care issued EUR-denominated floating
rate senior notes in the principal amount of EUR100 million, due 2016. The
coupon is equal to the three-month Euribor rate plus 350 basis points.
Issuance of senior notes
In September 2011, Fresenius Medical Care issued $-denominated and
EUR-denominated senior unsecured notes in the principal amounts of $400
million and EUR400 million, respectively, both due 2018. The coupon for the
$ senior notes is 6.5%, and the coupon for the EUR senior notes is also
6.5%. Proceeds amounting to $949 million from the offering were used for
acquisitions, to refinance indebtness and for general corporate purposes.
Sales and earnings outlook for 2011 confirmed
For the full year 2011, the company confirms its sales and earnings
outlook.
Revenue is expected to grow to above $13 billion.
Net income attributable to Fresenius Medical Care AG & Co. KGaA is expected
to be between $1.070 billion and $1.090 billion.
For 2011, the company expects to spend around 5% of revenue on capital
expenditures and approximately $1.9 billion on acquisitions. The
debt/EBITDA ratio is expected to be below 3.0 by the end of 2011.
'With our execution to date we continue to achieve a strong operational
performance with a strong focus on quality and expense control. We expect
further earnings momentum in the fourth quarter this year, supported by the
recent acquisitions and cost management. We are fully on track to achieve
our full year guidance', said Ben Lipps, chief executive officer of
Fresenius Medical Care. 'We are particularly pleased with our success
globally, given a persistently challenging business environment and the
ongoing implementation of the new prospective payment system in the U.S.
Our emphasis on innovation and patient care continues to serve us well.'
Conference call
Fresenius Medical Care will hold a conference call to discuss the results
of the third quarter and first nine months of 2011 on Wednesday, November
2, 2011, at 3:30 p.m. CET / 10:30 a.m. EDT. The company invites investors
to listen to the live webcast of the call at the company's website
www.fmc-ag.com in the 'Investor Relations' section. A replay will be
available shortly after the call.
About Fresenius Medical Care
Fresenius Medical Care is the world's largest integrated provider of
products and services for individuals undergoing dialysis because of
chronic kidney failure, a condition that affects more than 2 million
individuals worldwide. Through its network of 2,874 dialysis clinics in
North America, Europe, Latin America, Asia-Pacific and Africa, Fresenius
Medical Care provides dialysis treatment to 228,239 patients around the
globe. Fresenius Medical Care is also the world's leading provider of
dialysis products such as hemodialysis machines, dialyzers and related
disposable products.
Disclaimer
This release contains forward-looking statements that are subject to
various risks and uncertainties. Actual results could differ materially
from those described in these forward-looking statements due to certain
factors, including changes in business, economic and competitive
conditions, regulatory reforms, foreign exchange rate fluctuations,
uncertainties in litigation or investigative proceedings, and the
availability of financing. These and other risks and uncertainties are
detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the
U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co.
KGaA does not undertake any responsibility to update the forward-looking
statements in this release.
End of Corporate News
---------------------------------------------------------------------
02.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Fresenius Medical Care AG & Co. KGaA
Else-Kröner-Straße 1
61352 Bad Homburg
Germany
Phone: +49 (0) 6172- 609 2525
Fax: +49 (0) 6172- 609 2301
E-mail: ir@fmc-ag.com
Internet: www.fmc-ag.de
ISIN: DE0005785802, DE0005785836,
WKN: 578580, 578583
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart; Terminbörse EUREX; NYSE
End of News DGAP News-Service
---------------------------------------------------------------------
144331 02.11.2011
DGAP-News: Fresenius Medical Care AG & Co. KGaA / Key word(s): Quarter
Results
Fresenius Medical Care AG & Co. KGaA: Reports Strong Third Quarter and
Nine Months Results; confirms Outlook for 2011
02.11.2011 / 07:07
---------------------------------------------------------------------
Contact: Fresenius Medical Care AG & Co. KGaA
Oliver Maier Else-Kröner-Str.1
Phone: + 49 6172 609 2601 61352 Bad Homburg
Fax: + 49 6172 609 2301 Germany
www.fmc-ag.com
North America:
Terry L. Morris
Phone: + 1 800 948 2538
Fax: + 1 615 345 5605
E-mail: ir@fmc-ag.com November 2, 2011
Investor News
Fresenius Medical Care Reports Strong Third Quarter and Nine Months
Results; confirms Outlook for 2011
3rd Quarter 2011 Summary:
^
Net revenue $3,242 +6%
million
Operating income (EBIT) $534 million +8%
Net income attributable to Fresenius Medical Care $279 million +13%
AG & Co. KGaA
Earnings per share $0.92 +12%
°
Nine Months 2011 Summary:
^
Net revenue $9,473 +7%
million
Operating income (EBIT) $1,488 +7%
million
Net income attributable to Fresenius Medical Care $761 million +8%
AG & Co. KGaA
Earnings per share $2.51 +7%
°
Bad Homburg, Germany - Fresenius Medical Care AG & Co. KGaA ('the company'
or 'Fresenius Medical Care'; Frankfurt Stock Exchange: FME / New York Stock
Exchange: FMS), the world's largest provider of dialysis products and
services, today announced its results for the third quarter and first nine
months of 2011.
3rd Quarter 2011:
Revenue
Net revenue for the third quarter of 2011 increased by 6% to $3,242 million
(+4% at constant currency) compared to the third quarter of 2010. Organic
revenue growth worldwide was 1%. Dialysis services revenue grew by 4% to
$2,425 million (+3% at constant currency) and dialysis product revenue
increased by 11% to $817 million (+5% at constant currency).
North America revenue for the third quarter of 2011 decreased by 1% to
$2,050 million including the impact of the new Medicare end-stage renal
disease prospective payment system in the United States. Dialysis services
revenue decreased by 1% to $1,846 million with a same market growth of 3%.
Average revenue per treatment for U.S. clinics decreased to $345 in the
third quarter of 2011 compared to $359 for the corresponding quarter in
2010 reflecting the implementation of the new prospective payment system.
Dialysis product revenue decreased by 2% to $204 million, as increased
sales of hemodialysis products could not entirely offset lower pricing of
renal drugs.
International revenue increased by 20% to $1,187 million (+13% at constant
currency). Organic revenue growth was 6%. Dialysis services revenue
increased by 26% to $579 million (+20% at constant currency). Dialysis
product revenue increased by 15% to $608 million and increased by 7% at
constant currency, mainly driven by higher sales of peritoneal dialysis
products, dialyzers, solutions, concentrates and dialysis machines.
Earnings
Operating income (EBIT) for the third quarter of 2011 increased by 8% to
$534 million compared to $493 million in the third quarter of 2010. This
resulted in an operating margin of 16.5% for the third quarter of 2011
compared to 16.1% for the corresponding quarter in 2010.
In North America, the operating margin increased from 18.1% in the third
quarter of 2010 to 18.3% in the third quarter of 2011. This increase was
mainly favorably influenced by the development of pharmaceutical costs and
a positive impact from a royalty adjustment for Venofer(R). Average costs
per treatment for U.S. clinics decreased to $279 in the third quarter of
2011 compared to $289 for the corresponding quarter in 2010.
In the International segment, the operating margin increased from 15.8% to
17.3% mainly due to lower manufacturing costs, favorable exchange rate
effects and business growth in Asia-Pacific.
Net interest expense for the third quarter of 2011 was $68 million compared
to $70 million in the third quarter of 2010. This development was mainly
attributable to increased interest income related to the loan to Renal
Advantage Partners.
Income tax expense was $163 million for the third quarter of 2011 compared
to $153 million in the third quarter of 2010. The effective tax rate
decreased to 35.0% from 36.2%.
Net income attributable to Fresenius Medical Care AG & Co. KGaA for the
third quarter of 2011 was $279 million, an increase of 13% compared to the
corresponding quarter of 2010.
Earnings per share (EPS) for the third quarter of 2011 rose by 12% to $0.92
per ordinary share compared to $0.82 for the third quarter of 2010. The
weighted average number of shares outstanding for the third quarter of 2011
was approximately 303.2 million shares compared to 301.2 million shares for
the third quarter of 2010. The increase in shares outstanding resulted from
stock option exercises in the past 12 months.
Cash flow
In the third quarter of 2011, the company generated $463 million in cash
from operations, representing approximately 14% of revenue. The cash flow
generation was supported by a favorable development of days sales
outstanding (DSO) and increased earnings.
A total of $150 million in cash was spent for capital expenditures, net of
disposals. Free cash flow before acquisitions was $313 million compared to
$263 million in the third quarter of 2010. A total of $49 million in cash
was spent for acquisitions, net of divestitures. Free cash flow after
acquisitions and divestitures was $264 million compared to $176 million in
the third quarter of 2010.
Nine Months of 2011:
Revenue and Earnings
Net revenue for the first nine months of 2011 increased by 7% to $9,473
million (+4% at constant currency) compared to the first nine months of
2010. Organic revenue growth was 2% in the first nine months of 2011.
Operating income (EBIT) for the first nine months of 2011 increased by 7%
to $1,488 million compared to $1,385 million in the first nine months of
2010, resulting in an operating margin of 15.7% compared to 15.6% for the
first nine months of 2010.
Net interest expense for the first nine months of 2011 was $214 million
compared to $206 million in the same period of 2010.
Income tax expense for the first nine months of 2011 was $436 million
compared to $410 million in the same period in 2010, reflecting effective
tax rates of 34.2% and 34.7%, respectively.
For the first nine months of 2011, net income attributable to Fresenius
Medical Care AG & Co. KGaA was $761 million, up by 8% from the first nine
months of 2010.
In the first nine months of 2011, earnings per ordinary share rose by 7% to
$2.51. The weighted average number of shares outstanding during the first
nine months of 2011 was approximately 302.7 million.
Cash Flow
Cash from operations during the first nine months of 2011 was $950 million
compared to $1,027 million for the same period in 2010, representing
approximately 10% of revenue.
A total of $380 million in cash was spent for capital expenditures, net of
disposals. Free cash flow before acquisitions for the first nine months of
2011 was $570 million compared to $688 million in the same period in 2010.
A total of $1,171 million in cash was spent for acquisitions, net of
divestitures. Free cash flow after acquisitions and divestitures was -$601
million compared to $318 million in the first nine months of last year.
Please refer to the attachments for a complete overview on the third
quarter and first nine months of 2011 and the reconciliation of non-GAAP
financial measures included in this release to the most comparable GAAP
financial measures.
Patients - Clinics - Treatments
As of September 30, 2011, Fresenius Medical Care treated 228,239 patients
worldwide, which represents a 9% increase compared to the previous year's
figure. North America provided dialysis treatments for 140,422 patients, an
increase of 3%. Including 22 clinics managed by Fresenius Medical Care
North America, the number of patients in North America was 141,809. The
International segment provided dialysis treatments to 87,817 patients, an
increase of 18% over the prior year's figure.
As of September 30, 2011, the company operated a total of 2,874 clinics
worldwide, which represents a 6% increase compared to the previous year's
figure. The number of clinics is comprised of 1,838 clinics in North
America (1,860 including managed clinics), and 1,036 clinics in the
International segment, representing an increase of 2% and 14%,
respectively.
During the first nine months of 2011, Fresenius Medical Care delivered
approximately 25.46 million dialysis treatments worldwide. This represents
an increase of 9% compared to last year's figure. North America accounted
for 16.11 million treatments, an increase of 4%. The International segment
delivered 9.35 million treatments, an increase of 18%.
Employees
As of September 30, 2011, Fresenius Medical Care had 77,825 employees
(full-time equivalents) worldwide compared to 73,452 employees at the end
of 2010. This increase of more than 4,300 employees is due to overall
growth in the company's business and acquisitions.
Debt/EBITDA ratio
The ratio of debt to Earnings before interest, taxes, depreciation and
amortization (EBITDA) increased from 2.37 at the end of the third quarter
of 2010 to 2.55 at the end of the third quarter of 2011. The debt/EBITDA
ratio at the end of the second quarter 2011 was 2.77.
Rating
Standard & Poor's Ratings Services rates the company's corporate credit as
'BB' with a 'positive' outlook. Moody's rates the company's corporate
credit as 'Ba1' with a 'stable' outlook, and Fitch rates the company's
corporate credit as 'BB+' with a 'stable' outlook. For further information
on Fresenius Medical Care's credit ratings, maturity profiles and credit
instruments, please visit our website at www.fmc-ag.com / Investor
Relations / Credit Relations.
Acquisition of American Access Care Completed
The American Accesss Care (AAC) acquisition was closed effective October 1,
2011. AAC operates 28 freestanding out-patient centers primarily dedicated
to serving vascular access needs of dialysis patients. The acquired
operations will add approximately $175 million in annual revenue and are
expected to be accretive to earnings in the first year after closing of the
transaction.
Vifor Fresenius Medical Care Renal Pharma Ltd. Formation Completed
After the recent clearance by the European Union antitrust commissions the
formation of Vifor Fresenius Medical Care Renal Pharma Ltd. has been
completed globally on November 1, 2011.
Acquisition of Liberty Dialysis Holdings, Inc.
The acquisition of Liberty Dialysis Holdings, Inc. is on schedule and is
expected to close in the first quarter of 2012.
Issuance of floating rate senior notes
In October 2011, Fresenius Medical Care issued EUR-denominated floating
rate senior notes in the principal amount of EUR100 million, due 2016. The
coupon is equal to the three-month Euribor rate plus 350 basis points.
Issuance of senior notes
In September 2011, Fresenius Medical Care issued $-denominated and
EUR-denominated senior unsecured notes in the principal amounts of $400
million and EUR400 million, respectively, both due 2018. The coupon for the
$ senior notes is 6.5%, and the coupon for the EUR senior notes is also
6.5%. Proceeds amounting to $949 million from the offering were used for
acquisitions, to refinance indebtness and for general corporate purposes.
Sales and earnings outlook for 2011 confirmed
For the full year 2011, the company confirms its sales and earnings
outlook.
Revenue is expected to grow to above $13 billion.
Net income attributable to Fresenius Medical Care AG & Co. KGaA is expected
to be between $1.070 billion and $1.090 billion.
For 2011, the company expects to spend around 5% of revenue on capital
expenditures and approximately $1.9 billion on acquisitions. The
debt/EBITDA ratio is expected to be below 3.0 by the end of 2011.
'With our execution to date we continue to achieve a strong operational
performance with a strong focus on quality and expense control. We expect
further earnings momentum in the fourth quarter this year, supported by the
recent acquisitions and cost management. We are fully on track to achieve
our full year guidance', said Ben Lipps, chief executive officer of
Fresenius Medical Care. 'We are particularly pleased with our success
globally, given a persistently challenging business environment and the
ongoing implementation of the new prospective payment system in the U.S.
Our emphasis on innovation and patient care continues to serve us well.'
Conference call
Fresenius Medical Care will hold a conference call to discuss the results
of the third quarter and first nine months of 2011 on Wednesday, November
2, 2011, at 3:30 p.m. CET / 10:30 a.m. EDT. The company invites investors
to listen to the live webcast of the call at the company's website
www.fmc-ag.com in the 'Investor Relations' section. A replay will be
available shortly after the call.
About Fresenius Medical Care
Fresenius Medical Care is the world's largest integrated provider of
products and services for individuals undergoing dialysis because of
chronic kidney failure, a condition that affects more than 2 million
individuals worldwide. Through its network of 2,874 dialysis clinics in
North America, Europe, Latin America, Asia-Pacific and Africa, Fresenius
Medical Care provides dialysis treatment to 228,239 patients around the
globe. Fresenius Medical Care is also the world's leading provider of
dialysis products such as hemodialysis machines, dialyzers and related
disposable products.
Disclaimer
This release contains forward-looking statements that are subject to
various risks and uncertainties. Actual results could differ materially
from those described in these forward-looking statements due to certain
factors, including changes in business, economic and competitive
conditions, regulatory reforms, foreign exchange rate fluctuations,
uncertainties in litigation or investigative proceedings, and the
availability of financing. These and other risks and uncertainties are
detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the
U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co.
KGaA does not undertake any responsibility to update the forward-looking
statements in this release.
End of Corporate News
---------------------------------------------------------------------
02.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Fresenius Medical Care AG & Co. KGaA
Else-Kröner-Straße 1
61352 Bad Homburg
Germany
Phone: +49 (0) 6172- 609 2525
Fax: +49 (0) 6172- 609 2301
E-mail: ir@fmc-ag.com
Internet: www.fmc-ag.de
ISIN: DE0005785802, DE0005785836,
WKN: 578580, 578583
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart; Terminbörse EUREX; NYSE
End of News DGAP News-Service
---------------------------------------------------------------------
144331 02.11.2011