BAD HOMBURG (dpa-AFX) - The dialysis specialist Fresenius Medical Care (FMC) continues to make progress in its corporate reorganization. The company was able to increase its operating profit in the second quarter despite a slight decline in sales. While the dialysis provider confirmed its targets for earnings and revenue for the full year, it lowered its forecast for growth in US treatment figures. The MDax company announced on Tuesday that, in the best-case scenario, growth of 0.5 percent is now expected. In the worst case, the figures are expected to stagnate. Previously, FMC had assumed growth of 0.5 to 2.0 percent for this key figure. The share price fell as a result.

This was not well received on the stock market. In the morning, the shares fell by up to 9 percent to just over 34 euros. They temporarily fell to their lowest level since the beginning of March. Most recently, the share price had fallen by 6.3 percent.

For analyst Falko Friedrichs from Deutsche Bank Research, the dialysis group has done well with its FME25 program and is ahead of plan in terms of savings. However, the continued meagre development of treatment figures on a comparable basis and the reduced forecast in this respect are disappointing. In the first half of the year, US treatments fell by 0.2 percent. Expert James Vane-Tempest from analyst firm Jefferies also emphasized the somewhat weaker than previously expected volume growth in North America.

Analyst Victoria Lambert from the private bank Berenberg rated the quarterly report as mixed overall, but despite the somewhat lowered growth target for the US treatment figures, things had at least improved again in June. The reason for the company's reduced estimate was the assumption of higher patient mortality in the second half of 2024. Barclays analyst Hassan Al-Wakeel also pointed to the slower momentum in the second half of the year. Analyst Christian Ehmann from Warburg Research commented that the low patient numbers would cast a shadow over the outlook for 2025.

In the second quarter, operating profit adjusted for special effects increased by eight percent to 433 million euros thanks to savings. Turnover fell slightly to 4.77 billion euros. Adjusted for special effects and at constant exchange rates, turnover stagnated. Experts had expected revenue and earnings to be of this magnitude. On balance, consolidated profit rose by a third to 187 million euros.

Since the end of November last year, FMC, which had long been struggling with difficulties, and the DAX company Fresenius have gone their separate ways. Fresenius still holds slightly more than 30 percent of FMC, but following the balance sheet unbundling, FMC's contribution to the investment now only appears in the financial results of the former parent company. Fresenius will present its figures for the second quarter this Wednesday (July 31)./lfi/mne/lfi/he