Press release BoxID: 176142 (Fresenius AG (SE))
  • Fresenius AG (SE)
  • Else-Kröner-Straße 1
  • 61352 Bad Homburg
  • Contact person
  • Bernd Ebeling
  • +49 (6172) 608-2378

Fresenius Medical Care Reports Strong Start for 2008 -Shareholders Approve Eleventh Consecutive Annual Dividend Increase

(PresseBox) (Bad Homburg v.d.H, ) Following an excellent year in 2007 and a strong first quarter, Fresenius Medical Care's Chief Executive Officer Ben Lipps today confirmed the outlook for the remainder of 2008. At the Annual General Meeting in Frankfurt, he said the Company expects to achieve revenues of more than $10.4 billion and earnings after tax between $805 and $825 million. Based on the strong revenue development and the Company's growth opportunities, Fresenius Medical Care also expects to meet its long-term target of more than $11.5 billion in revenues by 2010, and sustainable growth in earnings after tax in the low- to mid-teens per year.

"In 2007 we continued to expand our global presence," Ben Lipps said. "We invested in our production facilities in the United States and Germany, and acquired a production plant in China to meet the growing demand for our renal products. In Germany, we created more than 450 jobs in 2007 and the first quarter of 2008, primarily at our production sites in Schweinfurt and St. Wendel. The number of employees in Germany increased by about 16%. Within the next two years, we expect to increase our dialyzer production capacity from 75 million in 2007 to more than 90 million," Ben Lipps stated.

The new 5008S dialysis machine, which was introduced recently at the EDTA nephrological congress in Stockholm (Sweden), should also contribute to continued growth. The 5008S has been tested extensively around the world, and maintains the essential features of the 5008 system. The 5008S is designed to make online hemodiafiltration - currently the most advanced therapy - available to an increasing number of patients in selected markets.

During the Annual General Meeting, the shareholders approved the eleventh consecutive dividend increase with a large majority of 99.96%. The dividend will increase to €0.54 from €0.47 per ordinary share and to €0.56 from €0.49 per preference share. The previous year's dividend was adjusted to the share split.

In addition, shareholders affirmed the actions and decisions taken by the Supervisory Board and the Management Board in 2007 with a majority of more than 99%.

At the Annual General Meeting, 72.06% of the ordinary share capital and 2.48% of the preference share capital were represented. Only ordinary shareholders were entitled to vote.