Fresenius Medical’s Profit Declines Not As Worried, Labor Shortage Eases, ET HealthWorld

Fresenius Medical's Profit Declines Not As Worried, Labor Shortage Eases, ET HealthWorld

Frankfurt: Fresenius Medical Care The company said Tuesday that labor shortages are easing gradually as German dialysis specialists reported that the decline in adjusted operating profit in the first quarter was not as sharp as some analysts had expected. rice field.

Adjusted operating profit fell to €354 million ($390 million) from the median analyst estimate of €335 million on the company’s website.

“The first quarter saw a trend toward improved treatment volumes and a more stable domestic working environment. wesaid the CEO Helen Giza.

The company confirms its full-year outlook, saying adjusted operating profit is likely to be flat or decline by up to a ‘high single-digit’ percentage in 2023, and the company sees a transition year for earnings growth recovery in 2024. and

dialysis group parent, German medical Group member Fresenius SE said earlier this year it would transfer control of a struggling dialysis company, but would retain its stake for the time being as part of a turnaround plan.

Fresenius said Tuesday that those plans are on track. Some investors see the move as a prelude to an eventual sale of stakes in Dialysis Group.

Fresenius Medicalwas hit hard by a high percentage of COVID-19 The number of patient deaths is on the rise, but although excess mortality still weighs on growth, the burden has eased, he said.

Parent company Fresenius said on Tuesday that its first-quarter operating profit fell 10% after adjusting for currency, also better than expected.share in Fresenius Medical shares rose 1.4% at the opening, while shares in parent company Fresenius jumped 3% to a two-month high. Analysts at Barclays said the year was off to a good start with improving fundamental signs of the business.

Fresenius’ parent group CEO Michael Sen, who took over in October, has been cutting costs, with the group focusing on its hospital generics division Kabi and hospital operator Helios. Fresenius Medical and hospital project development company Vamed said they would be treated as financial units. investment.

  • Published May 9, 2023 at 2:45 PM IST

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