Fresenius Medical Care Ag · XETR:FME
Fresenius Medical Care — Shareholder Meeting (May 2012)
27 slides from Fresenius Medical Care's shareholder meeting presentation, May 10, 2012
Slide 1: Annual General Meeting 2012 Welcome
Annual General Meeting 2012 Welcome Dr. Ben Lipps, Chief Executive Officer and Chairman of the Management Board Frankfurt, May 10, 2012 (c) Copyright May 2012
Slide 2: Agenda
Agenda Accomplishments and Business Update 2011 Share Price Development and Long-term Value Creation First Quarter 2012 and Outlook Growth Strategy and Summary Annual General Meeting 2012 © Copyright May 2012 Page 2
Slide 3: Fiscal Year 2011 - Another outstanding year for Fresenius Medical Care
Fiscal Year 2011 - Another outstanding year for Fresenius Medical Care Targets for 2011 achieved and ended year with record results Strong growth in Dialysis Services as well as Dialysis Products Major effort in North America to mitigate the effects of the implementation of the new “Bundle” reimburs
Slide 4: Fiscal Year 2011 Record Results for 2011
Fiscal Year 2011 Record Results for 2011 FY 2011 Growth US$ in millions in % Net revenue 12,795 6 Operating income (EBIT) 2,075 8 Net income 1,071 9 Annual General Meeting 2012 © Copyright May 2012 Page 4
Slide 5: 2011 - Revenue by Region
2011 - Revenue by Region North America Latin America North America Revenue US$0.7 B Growth 16% cc Revenue US$8.2 B 5% Growth actual 0% Asia-Pacific Revenue US$1.0 B 8% Growth 19% cc 64% International ~ 36% Total Revenue Europe, 23% Revenue US$4.6 B Middle Growth cc 14% East, Africa Revenue US$2.9 B
Slide 6: Continued Global Leader in Dialysis Services
Continued Global Leader in Dialysis Services We lead in every major market, Treating more than 253,000 patients worldwide Number of Patients* North America 161.656 Europe, Middle 48.452 East and Africa Latin America 25.759 Asia-Pacific 17.174 *as of Q1 2012 Annual General Meeting 2012 © Copyright Ma
Slide 7: Market Position by Major Product Groups 2011
Market Position by Major Product Groups 2011 Rank 1 Rank 2 Dialyzers FME Gambro Dialysis machines FME Gambro Hemodialysis concentrates FME Fuso Bloodlines FME Gambro Peritoneal dialysis products Baxter FME Dialyzers Dialysis machines FME FME 45% 55% Competitors Competitors 55% 45% Produced ~98,000,0
Slide 8: 2011|2012 Product Launches
2011│2012 Product Launches USA International 4008S 2008T with Critline® 2008T with Venofer pump 2008@Home™ classic 5008S New Dialyzers Peritoneal Dialysis Future Technology Neutral pH Optiflux solution - pd Portable Artificial Kidney Ultra Annual General Meeting 2012 © Copyright May 2012 Page 8
Slide 9: Balance Sheet Remains Strong
Balance Sheet Remains Strong Assets Liabilities Current assets 29% 22% 22% Short-term debt 30% 34% 37% Long-term liabilities Fixed 70% 71% assets 44% 41% Shareholders’ equity 2010 2011 2010 2011 Total 17.1 19.5 17.1 19.5 in US$ billion Annual General Meeting 2012 © Copyright May 2012 Page 9
Slide 10: We Added More Than 5,700 Jobs Worldwide
We Added More Than 5,700 Jobs Worldwide 5,707 +8% 79,159 2011 73,452 67,988 57% North America 47,521 26% Europe 33,316 10% Latin America 7% Asia-Pacific 2000 2005 2009 2010 2011 Annual General Meeting 2012 © Copyright May 2012 Page 10
Slide 11: Agenda
Agenda Accomplishments and Business Update 2011 Share Price Development and Long-term Value Creation First Quarter 2012 and Outlook Growth Strategy and Summary Annual General Meeting 2012 © Copyright May 2012 Page 11
Slide 12: Decade of Impressive Growth
Decade of Impressive Growth Revenue Net income 11% CAGR 2002 – 2011 15% CAGR 2002 – 2011 12,795 1,071 51% 100% 8,499 537 5,084 290 2002 2006 2011 2002 2006 2011 CAGR = Compound annual growth rate In US$ million Annual General Meeting 2012 © Copyright May 2012 Page 12
Slide 13: Share Price Development
Share Price Development Relative Share Price Jan 2011 Performance 2011 May 2012 1,6 1,5 FME ordinary shares in € Ordinary shares +22% +22% DAX Index in € 1,4 Stoxx Europe Healthcare 600 Index 1,3 1,2 Ordinary shares +18% +21% 1,1 in US$ 1,0 0,9 DAX Index -16% -4% 0,8 0,7 0,6 Euro Stoxx Health +11% +
Slide 14: 2011 Annual Dividend Proposal
2011 Annual Dividend Proposal 15th Consecutive Dividend Increase Proposed +6% per ordinary share in € 0.69 0.70 0.65 0.65 0.61 0.60 0.58 0.55 0.54 0.50 0.47 0.45 0.41 0.40 0.37 0.35 0.34 0.31 0.30 0.28 0.26 0.25 0.23 0.20 0.20 0.17 0.00 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 200
Slide 15: 2002 to 2011 Delivering Long-term Value
2002 to 2011 Delivering Long-term Value Total Return 2002 to 2011 – Average Annual Performance Fresenius Medical Care in € 10,3% Fresenius Medical Care in US$ 14,8% DAX-Index 1,4% Dow Jones-Index * 4,6% DJ Eurostoxx Healthcare * -1,4% -2,0% 2,0% 6,0% 10,0% 14,0% 18,0% * no dividends or coupon Sour
Slide 16: Agenda
Agenda Accomplishments and Business Update 2011 Share Price Development and Long-term Value Creation First Quarter 2012 and Outlook Growth Strategy and Summary Annual General Meeting 2012 © Copyright May 2012 Page 16
Slide 17: First Quarter 2012 Strong Start - Very Good Operating Performance
First Quarter 2012 Strong Start - Very Good Operating Performance Growth US$ in millions Q1 2012 in % Net revenue 3,249 10 cc Operating income (EBIT) 503 13 Net income 244* 10 * Excluding investment gain of approx. $127 milion cc=constant currency Annual General Meeting 2012 © Copyright May 2012 Pag
Slide 18: Full Year 2012 Outlook Another Record Year Expected
Full Year 2012 Outlook Another Record Year Expected Q1 2012 Growth US$ in millions in % Net revenue ~ 14,000 13-15 cc Net income ~ 1,140* * Excluding investment gain of approx. $127 milion cc=constant currency Annual General Meeting 2012 © Copyright May 2012 Page 18
Slide 19: Agenda
Agenda Accomplishments and Business Update 2011 Share price development and long-term value creation First Quarter 2012 and Outlook Growth Strategy and Summary Annual General Meeting 2012 © Copyright May 2012 Page 19
Slide 20: Development of Dialysis Patient Population
Development of Dialysis Patient Population Estimates suggest an increase to nearly 4 million dialysis patients in 2020 3,500,000 5-6% 2,500,000 patient growth rate globally driven by age, lifestyle and mortality reduction 1,500,000 900,000 500,000 200,000 80,000 8,000 1970 1975 1980 1985 1990 1995 2
Slide 21: Global Market Opportunity
Global Market Opportunity Dialysis Market by Region Global Reimbursement for Dialysis Services In US-$ billion CAGR +6% 90 85 In US-$ billion CAGR +6% 40 80 34 28 35 70 60 30 4 50 25 40 35 25 20 15 14 30 13 1 20 10 10 28 10 5 12 0 0 2000 2015 E 2000 2015 E North America Europe Latin America Asia-Pac
Slide 22: Market Opportunities for Fresenius Medical Care
Market Opportunities for Fresenius Medical Care In US-$ billion 20 Entering into Phase III 18 Continued Expansion of Dialysis Products & 16 Services 12.8 14 + Additional Phase II Services 12 Geographic 10 Expansion of Vascular Access Dialysis Products & 8 Services Oral Phase I Pharmaceuticals 6 Geog
Slide 23: Success Requires Expertise and Continuity
Success Requires Expertise and Continuity Vertically integrated renal therapy provider • 30 years of complex manufacturing technology • Extensive quality management systems • Comprehensive patient care network of clinics and services • Highly innovative product development Years of expertise with ex
Slide 24: Summary – Well Positioned for the Future
Summary – Well Positioned for the Future Leadership Quality Excellent Leading innovation position in and global a growing manufactu- industry ring platform Global clinic acquisitions and service portfolio expansion Financials Growth Annual General Meeting 2012 © Copyright May 2012 Page 24
Slide 25: Thank you for your continued interest and support
Thank you for your continued interest and support
Slide 26: Safe Harbor Statement
Safe Harbor Statement: This presentation includes certain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Act of 1934, as amended. Actual results could differ materially from those included in the for
Slide 27: Annual General Meeting 2012 Welcome
Annual General Meeting 2012 Welcome Dr. Ben Lipps, Chief Executive Officer and Chairman of the Management Board Frankfurt, May 10, 2012 (c) Copyright May 2012
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