Throughout 2020,
The excess mortality trend significantly accelerated in the
In order to protect patients during the COVID-19 pandemic and maintain safe operations in the Company's more than 4,000 dialysis centers and 45 manufacturing sites, comprehensive measures had been taken. These measures included the provision of personal protective equipment for employees and patients as well as higher compensation for employees working in the isolation clinics. These measures have resulted in significantly increased costs in the Dialysis Services business, which in 2020 was largely compensated by governmental support, in particular in the
Despite those negative impacts of the COVID-19 pandemic,
The previously flagged impairment of goodwill and tradenames in the
The accelerating effects of excess mortality due to the COVID-19 pandemic are continuing into 2021 and are expected to have a significant adverse annualization effect on treatment volumes. This also negatively impacts the operating leverage on clinic utilization and downstream effects on complementary assets.
Against this backdrop,
This current estimate is based on the following high-level assumptions
Excess mortality to continue to accumulate for the first half of 2021 depending on the adoption and speed of the roll out of vaccinations to our worldwide patient population
COVID-19-related additional costs, such as for personal protective equipment or increased personnel costs in the Dialysis Services business, to remain on high level
Besides the extended suspension of the
The final results for the financial year 2020 and the targets for 2021 will be published, as scheduled, on
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to various factors, including, but not limited to, changes in business, economic and competitive conditions, legal changes, regulatory approvals, impacts related to the COVID-19 pandemic results of clinical studies, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in
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