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Fresenius SE & Co KGaA
DUS:FRE

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Fresenius SE & Co KGaA Logo
Fresenius SE & Co KGaA
DUS:FRE
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Price: 39.82 EUR -2.31%
Market Cap: €22.4B

Fresenius SE & Co KGaA
Investor Relations

Fresenius SE & Co KGaA is a healthcare company that makes medical products and runs hospitals. Its product side, Fresenius Kabi, sells things like IV fluids, injectable medicines, clinical nutrition products, infusion pumps, and other supplies used in hospitals and clinics. Its hospital side treats patients through large hospital networks in Germany and Spain, where it provides inpatient care, surgeries, and related medical services. The company makes money in two main ways. First, it sells healthcare products to hospitals, pharmacies, and other medical providers. Second, its hospital businesses are paid by insurers, public health systems, and patients for treatment and procedures. That mix gives Fresenius a role on both sides of the healthcare system: it supplies the tools doctors need and also delivers the care itself. What makes Fresenius different is that it sits close to the core of everyday healthcare rather than selling optional consumer products. Demand for its services and supplies is tied to surgery, chronic illness treatment, and routine hospital care, which makes the business easy to understand: when hospitals need dependable medical consumables and when patients need care, Fresenius is often part of the chain.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 6, 2026
AI Summary
Q1 2026

Strong start: Fresenius said Q1 2026 was fully in line with expectations and reconfirmed full-year guidance after reporting solid organic revenue growth and strong EPS growth.

Growth and leverage: Core EPS rose 13% in constant currency, helped by operating leverage, lower interest expense, and a lower tax rate, while net debt-to-EBITDA improved to 2.6x.

Kabi momentum: Kabi posted 6% organic revenue growth and a 16.7% EBIT margin, with management highlighting biopharma, nutrition, and medtech as the main growth drivers.

Helios strength: Helios delivered a 10.5% EBIT margin and 10% EBIT growth in Germany, with management pointing to higher admissions, pricing, and ongoing productivity gains.

Balance sheet: Management emphasized that the company’s stronger balance sheet gives it flexibility, but said buybacks are low on the list of capital allocation priorities.

Outlook and risks: Management stayed constructive on the rest of the year, but said the outlook still assumes a volatile geopolitical backdrop, FX headwinds, and possible second-order cost effects from the Middle East situation.

Key Financials
Organic revenue growth
5%
EPS growth
13%
EBIT
6%
EBIT margin
11.8%
Net debt to EBITDA
2.6x
Kabi organic revenue growth
6%
Kabi EBIT margin
16.7%
Helios EBIT margin
10.5%
Helios EBIT growth
10%
Germany organic growth
3%
Spain organic growth
4%
Operating cash flow
EUR 390 million
Operating cash flow, last 12 months
EUR 2.9 billion
Free cash flow, last 12 months
EUR 1.4 billion
Cash conversion rate, last 12 months
1.2
Net debt reduction since 2022
EUR 3.5 billion
Dividend per share
EUR 1.05
U.S. generic price pressure
low to mid-single digits
Tyenne market share in top 5 EU countries
40%
Tyenne market share in the U.S.
27%
Denosumab market share in EU 5
8%
U.S. broad portfolio market share
19.5%
Federal contract value
EUR 440 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Michael Sen
CEO, President & Chairman of Management Board of Fresenius Management SE
No Bio Available
Ms. Sara Lisa Hennicken
CFO & Member of the Management Board - Fresenius Management SE
No Bio Available
Mr. Pierluigi Antonelli
Member of Management Board of Fresenius Management SE & CEO of Fresenius Kabi
No Bio Available
Dr. Michael Sven Moser Ph.D.
Member of Management Board of Fresenius Management SE
No Bio Available
Mr. Robert Moller
Member of the Management Board of Fresenius Management SE
No Bio Available
Mr. Nick Stone
Senior VP of Investor Relations & Head of Investor Relations - Fresenius Management SE
No Bio Available
Matthias Link
Senior Vice President Corporate Communications
No Bio Available
Sebastian Schlagwein
Head of Group ESG
No Bio Available

Contacts

Address
HESSEN
Bad Homburg vor der Hohe
Else-Kroener-Str. 1
Contacts
+4961726080.0
www.fresenius.com
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