Fresenius : Quarterly Financial Report Q1 2021 (IFRS) (PDF, 0.60 MB)

Q1 2021

QUARTERLY FINANCIAL REPORT

At a Glance

Fresenius Share

Management Report

Financial Statements

Notes

Financial Calendar/Contact

Table of contents

TABLE OF CONTENTS

3	Fresenius Group figures at a glance	6	Management Report	20	Rating
		6	Health care industry	20	Virtual Annual General Meeting
		8	Results of operations, financial position, assets and liabilities	21	Outlook 2021
5	Fresenius share		8	Sales	24	Reconciliation table
			9	Earnings	24	Estimated COVID-19 effects
			10	Reconciliation
			10	Investments
			10	Cash flow	25	Consolidated financial statements
			10	Asset and liability structure	25	Consolidated statement of income
		11	Business segments	26	Consolidated statement of comprehensive income
			11	Fresenius Medical Care	27	Consolidated statement of financial position
			13	Fresenius Kabi	28	Consolidated statement of cash flows
			15	Fresenius Helios	30	Consolidated statement of changes in equity
			17	Fresenius Vamed	32	Consolidated segment reporting first quarter of 2021
		19	Employees
		19	Changes to the Management Board
		19	Changes to the Supervisory Board	33	Notes
			proposal to the AGM
		19	Research and development
		20	Opportunities and risk report	55	Financial Calendar
		20	Subsequent events

Fresenius Quarterly Financial Report 1st Quarter 2021

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At a Glance

Fresenius Share

Management Report

Financial Statements

Notes

Financial Calendar/Contact

FRESENIUS GROUP FIGURES AT A GLANCE

Fresenius is a global health care group providing products and services for dialysis, hospitals, and outpatient medical care. In addition, Fresenius focuses on hospital operations. We also manage projects and provide services for hospitals and other health care facilities. In 2020, Group sales were €36.3 billion. As of March 31, 2021, more than 310,000 employees have dedicated themselves to the service of health in about 100 countries worldwide.

SALES, EARNINGS, AND CASH FLOW

• in millions Sales
  EBIT before special items Net income reported1
  Net income before special items1 Earnings per share in € reported1 Earnings per share in € before special items1 Operating cash flow

Table of contents

						Growth
						in constant
Q1 / 2021		Q1 / 2020		Growth		currency
8,984	9,135	-2%	3%
1,006	1,125	-11%	-6%
435	459	-5%	-1%
435	465	-6%	-2%
0.78	0.82	-5%	-1%
0.78	0.83	-6%	-2%
652	878	-26%	--

Fresenius Quarterly Financial Report 1st Quarter 2021

1

Net income attributable to shareholders of Fresenius SE & Co. KGaA

3

At a Glance

Fresenius Share

Management Report

Financial Statements

Notes

Financial Calendar/Contact

Table of contents

BALANCE SHEET AND INVESTMENTS

€ in millions		March 31,			December 31,
2021			2020				Change
Total assets	68,966	66,646			3%
Non-current assets	52,273	50,874			3%
Equity	27,514	26,023			6%
Net debt	24,631	24,076			2%
Investments and acquisitions (Q1 2021 / Q1 2020)			533	959			-44%
RATIOS
							Q1 / 2021		Q1 / 2020
EBITDA margin1			18.1%			19.2%
EBIT margin1			11.2%			12.3%
Depreciation and amortization in % of sales1
		6.9%			6.9%
Operating cash flow in % of sales			7.3%			9.6%
Equity ratio (March 31 / December 31)			39.9%			39.0%
Net debt / EBITDA1, 2 (March 31 / December 31)
		3.52			3.44

Fresenius Quarterly Financial Report 1st Quarter 2021

1	Before special items	4
2	At LTM average exchange rates for both net debt and EBITDA; pro forma closed acquisitions / divestitures

At a Glance

Fresenius Share

Management Report

Financial Statements

Notes

Financial Calendar/Contact

Table of contents

FRESENIUS-SHARE

Since the beginning of the year, the Fresenius share has moved sideways and closed the first quarter of 2021 at a price of €37.98.

RELATIVE SHARE PRICE PERFORMANCE VS. DAX	31.12.2020 = 100
110
105
100
95
90

31.12.2020	31.01.2021	28.02.2021	31.03.2021
		Fresenius share		DAX

KEY DATA OF THE FRESENIUS SHARE

			Q1 / 2021		2020		Growth
Number of shares (March 31 / December 31)	557,541,659	557,540,909	0%
Stock exchange quotation1 in €
High	40.10	50.32	-20%
Low	34.57	25.66	35%
Period-end quotation closing price in €	37.98	37.84	0%
Ø Trading volume (number of shares per trading day)	1,802,020	2,085,926	-14%
Market capitalization2 in million € (March 31 / December 31)
21,175	21,097	0%
Earnings per share in €3
0.78	3.22	--

• Xetra closing price on the Frankfurt Stock Exchange

• Total number of ordinary shares multiplied by the respective Xetra period-end quotation on the Frankfurt Stock Exchange

3 Net income attributable to shareholders of Fresenius SE & Co. KGaA; before special items

FIRST QUARTER 2021

The COVID-19 pandemic marked the first three months of 2021 with persistently high infection rates and the spread of virus mutations slowing down the recovery of the global economy. More stringent containment measures imposed by governments led to a setback in economic activity and employment. Despite a gradual vaccination coverage of the population, the further development of the COVID-19 pandemic and the overall global economy remains uncertain. The capital markets and global investment levels remained stable, benefitting from economic stimulus measures taken by governments and favorable financing conditions.

According to the ECB's current forecast, the economy in the euro zone will grow by 4.0% this year. The ECB left its key interest rate unchanged at 0.00% during its March meeting.

The Federal Reserve's latest forecast projects the U.S. economy to grow by 6.5% in 2021. The U.S. Federal Reserve did not change the existing interest rates corridor of 0% to 0.25% at its March meeting.

Within this economic environment, the DAX increased by 9% in the first three months of 2021 to 15,008 points. The Fresenius share closed at €37.98 on March 31, 2021, almost unchanged over the same period.

Fresenius Quarterly Financial Report 1st Quarter 2021

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