Report
Hugo Solvet

FRESENIUS SE: Q3 in-line, continuous weaknesses at KABI North America | NEUTRAL | EUR71(+63%)

FRESENIUS SE - NEUTRAL | EUR71(+63%)
Q3 in-line, continuous weaknesses at KABI North America

In-line Q3 results
KABI: the picture does not get better in North America
Recovering topline but weak profitability at HELIOS
All guidance’s but that for KABI US are reiterated
Underlying
Fresenius SE & Co. KGaA

Fresenius is a health care group providing products and services for dialysis, hospitals and outpatient medical care. Co. operates four business segments: Fresenius Medical Care; Fresenius Kabi; Fresenius Helios; and Fresenius Vamed. Fresenius Medical Care provides dialysis care and dialysis products for patients with chronic kidney failure. Fresenius Kabi is engaged in the provision of generic drugs, infusion therapies, clinical nutrition products, related medical devices and transfusion technology. Fresenius Vamed manages projects and provides services for hospitals and other health care facilities. Fresenius Helios is a private hospital operator which only operates in Germany.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Hugo Solvet

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