Fresenius Medical Care AG & Co. KgaA (FMS) reported that its third quarter net income attributable to shareholders declined to 84 million euros from 230 million euros in the prior year. Basic earnings per ADS were 0.14 euros compared to 0.39 euros in the prior year.
Operating income decreased by 31% to 324 million euros from the prior year.
Net income attributable to shareholders, excluding special items, was 168 million euros, unchanged from last year.
Revenue decreased by 3% year-over-year to 4.94 billion euros in the third quarter, while it was up 7% both on a constant currency basis and on an organic basis.
The company raised the outlook for operating income in fiscal year 2023, due to the positive effects of the turnaround measures and the accelerated improvements in operational performance in the first nine months of 2023, as well as the solid business outlook for the fourth quarter of 2023.
Fresenius Medical Care now expects for fiscal year 2023 operating income to increase by a low single-digit percentage rate compared to previous year’s 1.540 billion euros. The company previously expected for fiscal year 2023 operating income to remain flat or decline by up to a low-single digit percentage rate, compared to previous year.
The company continues to expect for 2023 revenue to grow at a low to mid-single digit percentage rate compared to 19.40 billion euros reported last year.
The company’s target to achieve an operating income margin of 10 to 14% by 2025 remains unchanged, too.
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