Fresenius Reports Double-digit Earnings Growth In H1; Raises Earnings Guidance

(RTTNews) - Fresenius SE & Co. KGaA (FSNUF.PK, FSNPF.PK) reported that its first-half Group net income increased by 18% to 755 million euros from 642 million euros, previous year. Earnings per share was 1.37 euros compared to 1.17 euros. EBITDA increased by 9%, or 10% in constant currency, to 2.58 billion euros from 2.36 billion euros. Group EBIT increased by 10%, or 11% in constant currency, to 2.01 billion euros from 1.82 billion euros. EBIT margin increased to 14.4% from 13.6%.

First-half Group sales increased by 4%, or by 6% in constant currency, to 14.01 billion euros from 13.43 billion euros. Organic sales growth was 6%. Acquisitions contributed 1% and divestitures reduced sales by 1%.

Fresenius increased its 2016 Group earnings guidance. Net income is now expected to grow by 11% to 14% in constant currency. Previously, Fresenius expected net income growth of 8% to 12% in constant currency. The company confirmed its Group sales guidance. Sales are expected to increase by 6% to 8% in constant currency.