Report
Oliver Metzger

Fresenius SE & CO KGaA : Q4 review – Beat on bottom line, guidance provides no upside to consensus

>Miss on the top line, but beat on the bottom line - Q4 revenues of € 5,678m (-46.6% y-o-y, 0%/-2% vs ODDO BHF/consensus) were driven by 4% growth at constant currency and 5% organic growth. Group EBIT before special items reached € 634m (+13.4% y-o-y, margin 11.2%), 9%/7% ahead of expectations. Adjusted EPS of € 0.70 compared to our € 0.66 and consensus € 0.68.Kabi – boosted by Biopharma - Kabi's Q4 revenues of € 1,996m (-204% y-o-y) were 0%/-4% vs e...
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
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Oliver Metzger

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