Fresenius Medical Care: jumps 6% on announcing forecast
(CercleFinance.com) - The share of Fresenius Medical Care (FMC) is up over 5% on the Frankfurt Stock Exchange (as is its parent company Fresenius SE) after the presentation of accounts, coupled with a fairly optimistic outlook for 2020, and share buybacks totaling one billion euros.
Last year, sales of Fresenius SE's subsidiary, which is specialised in dialysis, reached 16.5 billion euros. FY adjusted organic growth increased to 4%, accelerating in Q4 (+7%).
Up slightly over the year (+3% to 2.3 billion euros), comparable operating profit soared about 40% in Q4 alone, while comparable adjusted earnings of 1.4 billion euros were up 11%, including +13% in Q4.
FMC says that in 2019 it expects adjusted organic earnings growth of between 3% and 7%, with adjusted net earnings evolving between -2% and +2%. These aggregates should accelerate in 2020, growing by between 5% and 10%.
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