Fresenius SE & Co KGaA (MIL:1FRE)
€ 33.91 -0.81 (-2.33%) Market Cap: 19.03 Bil Enterprise Value: 29.42 Bil PE Ratio: 0 PB Ratio: 1.01 GF Score: 59/100
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Q3 2024 Fresenius SE & Co KGaA Earnings Call Transcript

Nov 06, 2024 / 12:30PM GMT
Release Date Price: €34.72 (+2.94%)

Key Points

Positve
  • Fresenius SE & Co KGaA (FSNUF) reported strong Q3 2024 results with high single-digit top-line growth and increased margins.
  • The company generated over EUR760 million in operating cash flow, significantly improving its leverage profile.
  • Kabi division achieved a powerful 11% year-on-year organic revenue growth, driven by biopharma momentum and product launches.
  • Helios division delivered solid performance despite seasonal challenges, with an 8% organic revenue growth in Germany.
  • Fresenius SE & Co KGaA (FSNUF) upgraded its 2024 outlook, expecting 6% to 8% revenue growth and 8% to 11% EBIT growth, reflecting confidence in its business divisions.
Negative
  • The company faces ongoing weakness in the Chinese market, with no short-term improvement expected.
  • Helios Germany's performance was partly supported by energy relief funding, which will not continue in Q4.
  • Interest expenses are expected to be at the upper end of the EUR420 million to EUR440 million range, posing a potential risk for EPS in 2025.
  • The biopharma division anticipates lower milestone payments in Q4, which could impact financial performance.
  • The company must address the loss of energy relief contributions and manage structural productivity improvements at Helios to maintain profitability.
Operator

Good afternoon, and welcome to the conference call of Fresenius Investor Relations, which is now starting. May I hand you over to Nick Stone, Head of Investor Relations.

Nick Stone;Head of Investor Relations;Michael Sen
Fresenius SE & Co KGaA - Senior Vice President, Investor Relations;Fresenius SE & Co KGaA - Chairman of

Thank you, operator. Hello, everyone. Welcome to our year-to-date Q3 2024 earnings call and webcast. The presentation was e-mailed to our distribution list earlier today and is available on fresenius.com. On slide 2 of the presentation, you'll find the usual safe harbor statement. Unless stated otherwise, we'll comment on our performance using constant exchange rates, or CER.

Today, I'm joined by Michael and Sara, and the call will last approximately 1 hour with the presentation taking around 35 minutes. The remaining time for your questions, so please ask one to two questions so that everyone has a chance to participate. And with that, I will now hand the call over to Michael.

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