Fresenius Medical Care: stock down 5%; margin disappoints

(CercleFinance.com) - As the trailer of the DAX 30 index this morning, the Fresenius SE subsidiary Fresenius Medical Care, is down 5% this morning after the group's Q2 2019 margin disappointed the market.


Heavily present in the US, the German dialysis specialist reported Q2 sales that are up 3% at 4.3 billion euros, although flat at constant exchange rates. On a reported basis, operating income fell by 63% to 521 million euros (while it benefited from extraordinary income in Q1 2018), with a margin of 12%.

Although the group has confirmed its FY 2019 targets, Invest Securities analysts say that the disappointment in the publication mainly lies in the group's EBIT margin, which fell 50 basis points short of expectations, at 12%. Meanwhile, EBIT reached 521 million euros, under the 539 million that was expected, however, the group's margin in North America is in line with expectations at 14%.



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