- The change of the rating outlook reflects the company's
progress in restoring credit metrics and the commitment to maintain
its investment grade rating
- FME is expected to maintain its good growth momentum, while
continuing to improve operational performance on the back of its
strong transformation progress
- Solid deleveraging prospects
BAD HOMBURG, Germany, May 23, 2024
/PRNewswire/ -- Fresenius Medical Care (FME), the world's
leading provider of products and services for individuals with
renal diseases, today received from S&P Global, a leading
rating agency, the change of its rating outlook to stable from
negative (bbb-, stable outlook). Moody's changed the credit rating
outlook from negative to stable on May
17 (baa3, stable outlook).
Both, Moody's and S&P highlighted, that FME's transformation
program has supported margin improvements, and they expect further
sustainable contributions in the next 12 to 24 months. FME
delivered savings out of the FME25 transformation program, adjusted
financial debts, grew revenue and continuously executed divestments
of non-core, lower margin assets.
Moody´s expects that Fresenius Medical Care "will be able to
maintain organic revenue growth" and added that this development
will be "driven by ongoing volume recovery in dialysis treatments
along the fundamental growth drivers leading to higher population
requiring such treatments as well as the company's focus on growth
areas such as value-based care and home dialysis."
S&P reflects its decision as follow: "FME's improved results
demonstrated its commitment to operational efficiency. It executed
its FME25 cost-cutting strategy and was able to deliver cost
optimization and savings ahead of plan", and that "FME is now
expected to maintain its growth momentum with organic growth in
2024 and in 2025."
"The change of the rating outlook reflects our company's
transformational progress. And in restoring our credit metrics we
demonstrate our commitment to maintain our investment grade
rating", said Martin
Fischer, Chief Financial Officer. He added: "Throughout
2023 and in the first quarter of 2024, we improved our operational
and financial performance, strengthened our balance sheet and
delivered against our strategic plan. These are important steps in
the right direction. We remain committed to our strict capital
allocation policy while continuing to execute on our mid-term
plans."
You can find the Moody's press release as a PDF via this
link.
The S&P press release as a PDF please find via this
link.
About Fresenius Medical Care:
Fresenius Medical Care is the world's leading provider of products
and services for individuals with renal diseases of which around
4.1 million patients worldwide regularly undergo dialysis
treatment. Through its network of 3,862 dialysis clinics, Fresenius
Medical Care provides dialysis treatments for approx. 325,000
patients around the globe. Fresenius Medical Care is also the
leading provider of dialysis products such as dialysis machines or
dialyzers. Fresenius Medical Care is listed on the Frankfurt Stock
Exchange (FME) and on the New York Stock Exchange (FMS).
For more information visit the Company's website at
www.freseniusmedicalcare.com.
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 Fresenius Medical Care's reports filed with the
U.S. Securities and Exchange Commission. Fresenius Medical Care
does not undertake any responsibility to update the forward-looking
statements in this release.
Media contact
Christine Peters
T +49 160 60 66 770
christine.peters@freseniusmedicalcare.com
Contact for analysts and investors
Dr. Dominik Heger
T +49 6172 609 2601
dominik.heger@freseniusmedicalcare.com
www.freseniusmedicalcare.com
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SOURCE Fresenius Medical Care Holdings, Inc.