Fresenius SE 2Q Profit Fell as Medical Care Subsidiary Suffers

   By Ed Frankl

Fresenius SE said Tuesday that second-quarter profits fell, buffeted by "significantly worsening" business at its subsidiary Fresenius Medical Care AG and a challenging macroeconomic situation.

Last week, the German healthcare company cut its guidance for the year after its 32%-owned subsidiary FMC said it would lower its outlook due to U.S. labor shortages and a worsening economic environment.

Fresenius's net income in the three months to the end of June fell 5% to 450 million euros ($461.8 million), though its sales climbed 8% to EUR10.02 billion.

Dialysis-care company FMC said its net income fell almost 40% to EUR147 million, while revenue rose 10% to EUR4.76 billion.

Fresenius Kabi, a drug-making subsidiary, had solid organic sales growth, while its Helios private-hospital operator continued good admissions growth at its German and Spanish markets, Fresenius said.

The Bad Homburg-based company confirmed its lowered guidance issued on July 27 of sales growth in a low-to-mid single-digit percentage range at constant currency, anticipating more pronounced headwinds in 2022 from supply-chain disruptions and cost inflation, including energy prices.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

August 02, 2022 01:44 ET (05:44 GMT)

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