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MarketScreener Homepage  >  Equities  >  Xetra  >  Fresenius SE & Co. KGaA    FRE   DE0005785604

FRESENIUS SE & CO. KGAA

(FRE)
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Fresenius Expects to Miss 2020 Targets on Revised 2019 Outlook

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12/07/2018 | 02:32am EDT

By Patrick Costello

Fresenius adjusted its mid-term guidance late on Thursday, saying the company no longer expects to meet group targets for 2020 after updating its forecast for next year.

The German health-care company said it expects to see mid-single-digit organic sales growth for 2019, with net income remaining "broadly stable" from 2018.

The company's previously expected group sales to increase at a compounded annual growth rate of 7.1% to 10.3% through 2020, with group net income increasing at a CAGR of 8.3% to 12.6%.

Fresenius said it expects to generate sustainable organic sales growth in the mid-single-digit range from 2020 onward, with group net income expected to grow faster than sales on an organic basis.

Among the group's individual units, Fresenius Medical Care--a provider of dialysis products and services--should generate sales growth and net income in 2019 in line with the levels recorded in 2018, the company said.

It forecasts that the Fresenius Kabi division--an essential drugs and medical device supplier--will deliver mid-single-digit organic sales growth and "low- to mid-single-digit" growth in earnings before interest and taxes next year.

Fresenius Helios, the group's hospital operator unit, expects EBIT to contract at a low- to mid-single digit rate next year, as growth in Spain will be unlikely to offset "headwinds" in Germany resulting from regulatory changes, Fresenius SE said.

The group said it expects to propose a dividend increase for 2018 in line with earnings growth, as well as a further dividend increase in 2019.

The company will release detailed financial guidance for 2019 and on its mid-term targets alongside full-year results for 2018 on Feb. 20.

Write to Patrick Costello at patrick.costello@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
E.ON SE -0.36% 8.799 Delayed Quote.1.99%
FRESENIUS MEDICAL CARE AG & CO. KGAA -0.26% 61.1 Delayed Quote.7.87%
FRESENIUS SE & CO. KGAA -2.53% 43.365 Delayed Quote.2.32%
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Financials (EUR)
Sales 2019 35 389 M
EBIT 2019 4 676 M
Net income 2019 1 846 M
Debt 2019 20 659 M
Yield 2019 1,85%
P/E ratio 2019 13,1x
P/E ratio 2020 12,0x
EV / Sales2019 1,27x
EV / Sales2020 1,11x
Capitalization 24 163 M
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Technical analysis trends FRESENIUS SE & CO. KGAA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 56,25  €
Last Close Price 43,37  €
Spread / Highest target 72,5%
Spread / Average Target 29,7%
Spread / Lowest Target -25,2%
EPS Revisions
Managers
NameTitle
Stephan Sturm President & Chief Executive Officer
Gerd Krick Chairman-Supervisory Board
Rachel Clare Empey Chief Financial Officer
Niko Stumpfögger Deputy Chairman-Supervisory Board
Klaus-Peter Müller Member-Supervisory Board
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