Q2 2024 Fresenius SE & Co KGaA Earnings Call Transcript
Key Points
- Fresenius SE & Co KGaA (FSNUF) reported high single-digit revenue growth and double-digit increases in EBIT for Q2 2024.
- The company achieved significant cost savings ahead of plan, contributing to margin expansion and EPS growth.
- Fresenius SE & Co KGaA's leverage ratio improved, with S&P revising its credit outlook from negative to stable.
- Kabi's growth businesses, including nutrition, medtech, and biopharma, saw strong revenue growth, particularly with a 19% increase in Q2.
- The company is optimistic about reaching the upper half of its EBIT guidance range for the full year 2024.
- Helios Germany's margins were on the softer side, with underlying margins closer to 6% excluding relief payments.
- China's market remains soft due to economic weakness and an ongoing anti-corruption campaign, impacting growth expectations.
- There are concerns about the sustainability of growth in the second half of 2024, with potential risks including the impact of energy relief funding tapering off.
- Kabi Pharma experienced some margin pressure due to ramp-up costs and competitive pressures in the US and China.
- The company faces challenges in maintaining growth momentum in the biosimilars market, with competition and market dynamics affecting uptake.
Good afternoon, and welcome to the conference call of Fresenius Investor Relations, which is starting now.
May I hand over to Markus Georgi, Head of Investor Relations? Please go ahead.
Thank you, Simran. Good morning, good afternoon, depending on your time zone. Thanks, everybody for joining us today. It's my pleasure to welcome all of you to our second quarter 2024 earnings call with me on the call, Michael and Sara.
Before we start, I would like to draw your attention to the cautionary language that is included in our safe harbor statement on page 2 of today's presentation. And without any further ado, I hand it over to you, Michael, the floor is yours.
Markus, thank you. Warm welcome, everyone. Sara and I are going to review the business and financial
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