Fresenius 4Q Net Profit Flat; Creates JV With Vifor in China
20 Februar 2020 - 7:56AM
Dow Jones News
By Carlo Martuscelli
Fresenius SE & Co. KGaA said Thursday that net profit in the
fourth quarter was flat while sales increased, and announced the
creation of a joint venture with Vifor Pharma AG focused on
iron-deficiency treatment in China.
The company made a net profit of 515 million euros ($556.1
million) in the final quarter, marginally down from EUR516 million
last year. Sales grew by 5.4% to EUR9.31 billion.
In 2020, the German health-care company said it expects sales to
grow by 4%-7% and net income to increase by 1%-5%, all at constant
currency. This is without taking into account the effect of the
coronavirus outbreak, which is, however, expected to be minimal,
Fresenius said.
The company also said it will be establishing a China-focused
joint venture, in which it will retain a minority 45% stake, with
Vifor Pharma. The new business will provide patients with iron
deficiency access to blood management treatments.
Dialysis division Fresenius Medical Care reported fourth-quarter
net income of EUR343 million, down 25% on the previous-year period.
However, on an adjusted basis net income grew by 3% it said.
Fresenius retains a significant stake in the unit.
Write to Carlo Martuscelli at carlo.martuscelli@wsj.com;
@carlomartu
(END) Dow Jones Newswires
February 20, 2020 01:41 ET (06:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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