The German healthcare group Fresenius Thanks to savings and good business in the Kabi pharmaceutical division, the company earned significantly more in the second quarter, but had to accept a loss of 373 million euros (previous year: plus 80 million euros). The company announced this on Wednesday. The reason for the loss is the separation from the Austrian subsidiary Vamed.
In spring, Fresenius which Vamed was filleted and divided into different companies. The two construction companies Porr and Strabag acquired shares in several thermal baths in Austria, the technical management of the Vienna General Hospital (AKH Vienna) and the Austrian Vamed project business. The private equity firm PAI Partners took over 67 percent of the Vamed rehabilitation business. The remaining 33 percent remain with FreseniusIn the second quarter, Fresenius Due to the separation, special charges amounting to 427 million euros were incurred.
Operationally, business was better for the German group. “The 2024 financial year is a turning point for Fresenius“, explained CEO Michael Sen. “We are making faster progress than planned in reducing our debt ratio and cutting our costs.” Adjusted operating profit (EBIT) rose by 16 percent to 660 million euros from April to June, sales climbed by six percent to just over 5.4 billion euros, an increase of eight percent after adjusting for currency effects.
Fresenius confirmed the annual targets raised in May. Accordingly, an organic increase in sales of between four and six percent is expected. The currency-adjusted operating profit is expected to increase between six and ten percent. Fresenius was now confident of reaching the upper half of this range.
