Fresenius Annual General Meeting: 2017 guidance confirmed, 24th straight dividend increase approved

(PresseBox) ( Bad Homburg, )
Fresenius expects new record sales and earnings in the current business year. At the Annual General Meeting in Frankfurt today, Stephan Sturm, CEO of Fresenius, confirmed the 2017 targets. The company is forecasting sales growth of 15 to 17 percent, and an increase in net income of 19 to 21 percent1, both in constant currency. After a very strong first quarter, Fresenius raised its Group earnings guidance in early May.

In his first speech as CEO to the Annual General Meeting, Sturm stressed the link between growth and the well-being of patients: "We never let ourselves become complacent, or satisfied with the tried and tested. That is true for products and services, and it’s true for the company as a whole. This is why we want to continue growing, and will. Because that is what enables us to offer even better products and therapies. And because we are contributing to high-quality medicine that remains affordable. In future, that will remain our commitment: better medicine for more people."

Sturm also discussed the strategically important acquisitions of the U.S. generic pharmaceuticals provider Akorn and the biosimilars business of Merck KGaA, which were announced in April: "They broaden our range of high-quality yet affordable drugs, and take us into new, attractive growth areas. The acquisitions also strengthen Fresenius as a whole. With Quirónsalud, we have expanded our therapy area, and now we are expanding our product business. Both areas are decisive for our success, and we want to grow further in both of them."

Shareholders approved with a majority of 91.04 percent the 24th consecutive dividend increase proposed by the general partner and the Supervisory Board. The dividend was raised by 13 percent to €0.62 per share.

Shareholder majorities of 99.95 percent and 91.81 percent, respectively, approved the actions of the Management and Supervisory Boards in 2016.

At the Annual General Meeting, 70.03 percent of the subscribed capital was represented.

This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release. 

1 Net income attributable to shareholders of Fresenius SE & Co. KGaA; before transaction costs of ~€50 million for the acquisitions of Akorn, Inc. and Merck KGaA’s biosimilars business; before expected expenditures for the further development of Merck KGaA’s biosimilars business of ~€50 million (expected closing H2/17)
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