FX.co ★ Fresenius Medical Care Q1 Net Income Declines; Confirms FY24 Outlook

Fresenius Medical Care reported a decline of 18% in its net income to shareholders in the first quarter, or 17% at constant currency, amounting to 71 million euros. The basic earnings per share mirrored this decline, decreasing by 18%, or down 17% at constant currency, resulting in 0.24 euros. However, the EPS on an outlook basis increased by 35% to 0.67 euros.

In terms of revenue, the medical company observed a 2% increase in the first quarter, if constant currency is considered. This translates to a 5% organic growth, bumping the overall revenue to 4.72 billion euros.

Looking forward, Fresenius Medical Care confirms its outlook for the fiscal year 2024, holding expectations for revenue growth at a low- to mid-single digit percentage rate. Simultaneously, it predicts a growth in its operating income at a mid- to high-teens percentage rate. The company reiterated its targets to achieve an operating income margin ranging from 10% to 14% by 2025.