H1 2021
HALF-YEAR FINANCIAL REPORT
At a Glance | Shareholder Information | Interim Group Management Report | Financial Statements | Financial Calendar/Contact | Table of contents |
TABLE OF CONTENTS
15 | Business segments | ||||||
3 | Fresenius Group figures at a glance | 15 | Fresenius Medical Care | 31 | Consolidated financial statements | ||
17 | Fresenius Kabi | 31 | Consolidated statement of income | ||||
19 | Fresenius Helios | 32 | Consolidated statement of comprehensive income | ||||
4 | Shareholder information | 21 | Fresenius Vamed | 33 | Consolidated statement of financial position | ||
23 | Employees | 34 | Consolidated statement of cash flows | ||||
23 | Changes to the Management Board | 36 | Consolidated statement of changes in equity | ||||
7 | Management Report | 23 | Changes to the Supervisory Board | 38 | Consolidated segment reporting first halt of 2021 | ||
7 | Strategy and goals | 23 | Research and development | 39 | Consolidated segment reporting second quarter of 2020 | ||
8 | Health care industry | 24 | Oppotunities and risk report | ||||
10 | Results of operations, financial position, assets and liabilities | 24 | Subsequent events | ||||
10 | Sales | 24 | Rating | 40 | Notes | ||
11 | Earnings | 25 | Outlook 2021 | ||||
12 | Reconciliation | 28 | Reconciliation tables | ||||
13 | Investments | 30 | Estimated COVID-19 effects | 64 | Report after review |
- Cash flow
- Asset and liability structure
65 Financial Calendar
Fresenius Quarterly Financial Report 1st Half and 2nd Quarter 2021
2
At a Glance | Shareholder Information | Interim Group Management Report | Financial Statements | 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 June 30, 2021, more than 312,000 employees have dedicated themselves to the service of health in about 100 countries worldwide.
SALES AND EARNINGS
Growth | Growth | |||||||||||||||
€ in millions | in constant | in constant | ||||||||||||||
Q2 / 2021 | Growth | currency | H1 / 2021 | Growth | currency | |||||||||||
Sales | 9,246 | 4% | 8% | 18,230 | 1% | 6% | ||||||||||
EBIT1 | 1,030 | -8% | -4% | 2,039 | -9% | -5% | ||||||||||
Net income1,2 | 474 | 16% | 20% | 910 | 4% | 8% | ||||||||||
BALANCE SHEET | ||||||||||||||||
€ in millions | June 30, 2021 | Dec. 31, 2020 | Change | |||||||||||||
Total assets | 69,655 | 66,646 | 5% | |||||||||||||
Equity3 | 27,131 | 26,023 | 4% | |||||||||||||
Equity ratio3 | 39% | 39% | ||||||||||||||
Net debt / EBITDA1,4 | 3.60 | 3.44 |
PROFITABILITY | ||||
Q2 / 2021 | Q2 / 2020 | H1 / 2021 | H1 / 2020 | |
EBIT margin1 | 11.1% | 12.6% | 11.2% | 12.5% |
Return on equity after tax (ROE)1,2 | -- | -- | 10.3% | 10.5% |
Return on operating assets (ROOA)1 | -- | -- | 6.7% | 7.4% |
Return on invested capital (ROIC)1 | -- | -- | 6.1% | 6.6% |
- Before special items
-
Net income attributable to shareholders of Fresenius SE & Co. KGaA
3 Including noncontrolling interests
4 At LTM average exchange rates for both net debt and EBITDA; pro forma closed acquisitions / divestiture
Table of contents
Fresenius Quarterly Financial Report 1st Half and 2nd Quarter 2021
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At a Glance | Shareholder Information | Interim Group Management Report | Financial Statements | Financial Calendar/Contact | Table of contents |
SHAREHOLDER INFORMATION
Since the beginning of the year, the Fresenius share price increased by 16% closing the first half of 2021 at a price of €44.00. The Fresenius share is slightly outperforming the DAX in this timeframe.
RELATIVE SHARE PRICE PERFORMANCE VS. DAX | 31.12.2020 = 100% |
125
120
115
110
105
100
95
90 | |||||||||||
31.12.2020 | 31.01.2021 | 28.02.2021 | 31.03.2021 | 30.04.2021 | 31.05.2021 | 30.06.2021 | |||||
Fresenius share | DAX | ||||||||||
DEVELOPMENT IN FIRST HALF OF 2021
Due to rising vaccination rates in many major markets, government-imposed containment measures were partially eased during Q2 2021. This development strenghtened economic activity and employment in the second quarter of 2021. However, uncertainties remain as the overall global economic outlook continues to depend on the further course of the pandemic, including the spread of virus mutations. The capital markets and global investment levels remained stable, benefitting from economic stimulus measures taken by governments and favourable financing conditions.
According to the ECB's current forecast, the economy in the euro zone will grow by 4.6% this year. The ECB left its key interest rate unchanged at 0.00% during its June
nd Quarter 2021
KEY DATA OF THE FRESENIUS SHARE
Number of shares (June 30 / December 31)
Stock exchange quotation1 in €
High
Low
Period-end quotation closing price in €
- Trading volume (number of shares per trading day) Market capitalization2 in million € (June 30 / December 31) Earnings per share in €3
- 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
H1 / 2021 |
558,040,523 |
46.32
34.57
44.00
1,614,783
24,554
1.63
2020Growth
557,540,9090%
- -8%
- 35%
37.8416%
2,085,926-23%
21,09716%
3.22--
meeting.
The Federal Reserve's latest forecast projects the U.S. economy to grow by 7.0% in 2021. The U.S. Federal Reserve did not change the existing interest rates corridor of 0% to 0.25% at its June meeting.
Within this economic environment, the DAX increased by 13% in the first half of 2021 to 15,531 points. The Fresenius share closed at €44.00 on June 30, 2021, an increase of 16% compared to 2020 year-end closing price.
Fresenius Quarterly Financial Report 1st Half and 2
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At a Glance | Shareholder Information | Interim Group Management Report | Financial Statements | Financial Calendar/Contact | Table of contents |
SHAREHOLDER STRUCTURE
The charts opposite show the shareholder structure at the end of the first half of 2021. The Else Kröner-Fresenius- Stiftung was the largest shareholder of Fresenius SE & Co. KGaA, with 26.6% of the shares. According to notifications pursuant to the German Securities Trading Act (WpHG), the shares held by BlackRock, Inc were below 5% and by Allianz Global Investors GmbH below 3%. For further information on notifications, please visit www.fresenius.com/shareholder-structure.
As of June 30, 2021, a shareholder survey identified the ownership of about 95% of our subscribed capital. The shareholder base of Fresenius is solid: a total of over 600 institutional investors held about 330 million shares or 60% (December 31, 2020: 60%) of the subscribed capital;
47.0 million (December 31: 46.1 million) shares were iden- tified as retail holdings.
The 10 largest investors held about 18% (December 31, 2021: 20%) of the share capital. Our shares were mostly held by investors in Germany, the United States, and the United Kingdom.
ANALYST RECOMMENDATIONS
The recommendations published by financial analysts are an important guide for institutional and private investors when making investment decisions. According to our survey, as of June 30, 2021, we were rated with 13 ''buy'', 4 ''hold'', and 1 ''sell'' recommendations. The list of banks that provide regular analyst coverage of Fresenius and their latest recommendations can be found at www.fresenius.com/analysts-and-consensus.
VIRTUAL ANNUAL GENERAL MEETING
The virtual Annual General Meeting 2021 of Fresenius SE & Co. KGaA took place on May 21, 2021. With a large majority of 99.61%, the shareholders approved the proposal of the General Partner and the Supervisory Board to increase the dividend for the 28th consecutive year. Shareholders received €0.88 per ordinary share, representing an increase of 5%. The actions of Management Board and Supervisory Board were approved for the year 2020 with majorities of 99.28 and 91.34 respectively.
At the virtual Annual General Meeting 2021 of Fresenius SE & Co. KGaA, 72.76% of the capital stock was represented.
Fresenius Quarterly Financial Report 1st Half and 2nd Quarter 2021
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Fresenius SE & Co. KGaA published this content on 02 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2021 14:51:07 UTC.