Fresenius Se & Co. Kgaa · XETR:FRE
Fresenius Se & Co. Kgaa — Citi's Swiss Healthcare Investor Day 2011
26 slides from Fresenius Se & Co. Kgaa's conference presentation, May 17, 2011
Slide 1: Citi's Swiss Healthcare Investor Day
Citi’s Swiss Healthcare Investor Day May 17, 2011
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive
Slide 3: Achieving Profitable Growth in Attractive Health Care Segments
Achieving Profitable Growth in Attractive Health Care Segments - Listed in Frankfurt (DAX) 100% - Sales 2010: €16.0 bn Fresenius - EBIT 2010: €2,418 m Biotech Oncology and Immunology Therapies EBIT 2010: -€32 m 35% 100% 100% 77% Fresenius Fresenius Fresenius Fresenius Medical Care Kabi Helios Vamed
Slide 4: Fresenius Group: Financial Results
Fresenius Group: Financial Results €m 15,972 Sales 5-year CAGR: 10% 14,164 +8% cc 12,336 2,418 EBIT 11,358 5-year CAGR: 14% 10,777 +13% cc 2,054 660 Net Income 1,727 5-year CAGR: 19% +23% cc 1,609 514 1,444 450 410 330 2006 2007 2008 2009 2010 Group financial results before APP-transaction-related s
Slide 5: Fresenius Group: Excellent Start into 2011
Fresenius Group: Excellent Start into 2011 Sales EBIT Net income1 Q1/11 €3,962 m €575 m €170 m Growth at constant 7% 13% 39% currency rates Growth at actual 9% 15% 43% currency rates 1 Net income attributable to Fresenius SE & Co. KGaA and before special items due to MEB and CVR accounting Citi’s Sw
Slide 6: Fresenius Group: Financial Results by Business Segment
Fresenius Group: Financial Results by Business Segment Q1/11 Fresenius Fresenius Fresenius Fresenius Medical Care Kabi Helios Vamed Sales US$3,036 m €960 m €648 m €140 m Growth 5% 20% 7% -10% EBIT US$445 m €197 m €58 m €5 m Growth 5% 36% 12% -29% Citi’s Swiss Healthcare Investor Day, Fresenius SE &
Slide 7: Fresenius Medical Care: Update Q1/11
Fresenius Medical Care: Update Q1/11 - Good start despite the reimbursement change in U.S. Medicare - strong underlying operational performance - revenue growth of 5% at constant currency - Continue focusing on superior quality in services and products - Benefit from product innovations and new prod
Slide 8: Fresenius Kabi: Update Q1/11
Fresenius Kabi: Update Q1/11 - Excellent start into the year - Record organic sales growth of 16% - 20.5% EBIT margin - 39% organic sales growth in North America - Drug-shortage-related sales expanded in March 2010 - 2010/11 product launches, e.g. Gemcitabine, Aztreonam, Topotecan - 10% organic sale
Slide 9: Fresenius Helios: Update Q1/11
Fresenius Helios: Update Q1/11 - 5% organic sales growth at upper end of expectations; strong EBIT margin of 9.0% - YTD 2011 slight revival of hospital privatization activity; ~10 transactions pending/concluded - 264-bed Rottweil hospital (South/West) bid accepted, closing expected for Q3 2011 - Col
Slide 10: Fresenius Vamed: Update Q1/11
Fresenius Vamed: Update Q1/11 - Sales and EBIT development fully in Order Backlog by Region line with expectations - Order backlog at all-time high (€842 million) Asia - Order intake (€127 million) Pacific 13% Europe - Turnkey construction project in the Africa 63% 24% Ukraine (€67 million) - Medica
Slide 11: Fresenius Group: 2011 Outlook Raised or Fully Confirmed
Fresenius Group: 2011 Outlook Raised or Fully Confirmed Previous New Fresenius Sales growth US$12.8 – 13.0 bn >US$13.0 bn Medical Care Net income US$1,035 – 1,055 m US$1,070 – 1,090 m Fresenius Sales growth ~5% organic >5% organic Kabi EBIT margin >19.0% 19 – 20% Fresenius Sales growth 3 – 5% organi
Slide 12: Fresenius Group: 2011 Outlook Raised or Fully Confirmed
Fresenius Group: 2011 Outlook Raised or Fully Confirmed Previous New Revenue growth ≥7% 7–8% at constant currency Net income growth1 8 – 12% 12 – 16% at constant currency Capex ~5% of Group sales 1 Net income attributable to Fresenius SE & Co. KGaA and before special items due to MEB and CVR account
Slide 13: Fresenius Group: Where are we Heading Mid term?
Fresenius Group: Where are we Heading Mid term? Average organic revenue growth of 6 – 9% Additional growth through small / mid-sized acquisitions Focus on quality and cost leadership Mid-term stretch financial goal: Group net income >€1 bn by 2014 Citi’s Swiss Healthcare Investor Day, Fresenius SE &
Slide 14: Attachments
Attachments Untertitel der Kapiteltrennseite Maximal zweizeilig, 18 pt Citi’s Swiss Healthcare Investor Day, Fresenius SE & Co. KGaA, Investor Relations © Copyright, May 17, 2011 Page 14
Slide 15: Fresenius Group: Profit and Loss Statement
Fresenius Group: Profit and Loss Statement €m Q1/11 Q1/10 Growth Q1/11 YoY actual constant rates rates Sales 3,962 3,643 9% 7% EBIT 575 501 15% 13% Net interest -135 -143 6% 7% Income taxes -135 -119 -13% -13% Net income1 170 119 43% 39% 1 Net income attributable to Fresenius SE & Co. KGaA and befor
Slide 16: Fresenius Group: Cash Flow
Fresenius Group: Cash Flow €m Q1/11 LTM Q1/10 LTM Growth Margin Margin YoY Operating Cash Flow 278 10.7% 438 12.5% -37% Capex (net) -147 4.6% -130 4.5% -13% Free Cash Flow 131 6.1% 308 8.1% -57% (before acquisitions and dividends) Acquisitions (net) -249 -66 Dividends -15 -24 38% Free Cash Flow -133
Slide 17: Cash Flow Development LTM
Cash Flow Development LTM €m Operating CF Capex (net) Free Cash Flow1 LTM Q1/11 LTM Margin LTM Q1/11 LTM Margin LTM Q1/11 LTM Margin 560 14.6% (179) (4.7%) 381 9.9% 343 13.4% (156) (6.1%) 187 7.3%3 -16 -2.3% (9) (1.3%) -25 -3.6% Corporate/ Other -44 n/a (11) n/a -55 n/a excl. FMC 843 12.8%2 (355) (5
Slide 18: Fresenius Group: Debt and Interest Ratios
Fresenius Group: Debt and Interest Ratios Net debt/EBITDA Mar 31, Dec 31, 2011 2010 3.64 Target 2011: Debt (€m) 8,823 8,784 2.5 - 3.0 thereof 53% US$ 3.51 denominated Net debt (€m) 7,929 8,015 3.07 3.01 Net debt/EBITDA 2.52 2.62 2.63 2.63 2.63 EBITDA/Interest 5.5 5.4 2.62 2.52 at actual at identical
Slide 19: Fresenius Kabi: Strong Organic Sales Growth
Fresenius Kabi: Strong Organic Sales Growth €m Q1/11 Q1/10 Organic Growth Infusion Therapy 220 196 6% I.V. Drugs 355 255 37% Clinical Nutrition 270 245 7% Medical Devices/ Transfusion Technology 115 104 8% Total sales 960 800 16% Citi’s Swiss Healthcare Investor Day, Fresenius SE & Co. KGaA, Investo
Slide 20: Fresenius Kabi: Strong Organic Sales Growth
Fresenius Kabi: Strong Organic Sales Growth €m Q1/11 Q1/10 Organic Growth Europe 449 409 8% North America 254 179 39% Asia-Pacific 156 128 16% Latin America/Africa 101 84 13% Total sales 960 800 16% Citi’s Swiss Healthcare Investor Day, Fresenius SE & Co. KGaA, Investor Relations © Copyright, May 17
Slide 21: Fresenius Kabi: Excellent EBIT Growth
Fresenius Kabi: Excellent EBIT Growth €m Q1/11 Q1/10 Growth Europe 95 86 10% Margin 21.2% 21.0% North America 96 47 104% Margin 37.8% 26.3% Asia-Pacific/Latin America/Africa 42 35 20% Margin 16.3% 16.5% Corporate and Corporate R&D -36 -23 -57% Total EBIT 197 145 36% Margin 20.5% 18.1% Citi’s Swiss H
Slide 22: Fresenius Helios: Excellent Sales and EBIT Growth
Fresenius Helios: Excellent Sales and EBIT Growth €m Q1/11 Q1/10 Growth Total sales 648 608 7% EBIT Established clinic portfolio 58 52 12% Margin 9.1% 8.6% Acquisitions/Divestitures 0 0 (consolidation/deconsolidation < 1 yr) Total EBIT 58 52 12% Margin 9.0% 8.6% Citi’s Swiss Healthcare Investor Day,
Slide 23: Helios: 2010 Restructuring Plan
Fresenius Helios: 2010 Restructuring Plan Years in portfolio <1 1 2 3 4 5 >5 Total No. of clinics - - 6 4 7 - 25 42 Revenue (€m) - - 186 261 175 - 1,607 2,229 Target EBITDA margin (%) - 3.0 6.0 9.0 12.0 15.0 15.0 EBITDA (€m) - - 11.2 23.5 20.9 - 241.1 296.7 Reported EBITDA margin (%) - - 4.0 10.8 11
Slide 24: Helios: Performance Indicators
Fresenius Helios: Performance Indicators Q1/11 Q1/10 Change No. of hospitals1 63 62 2% - Acute care clinics 43 42 2% - Post-acute care clinics 20 20 0% No. of beds1 18,854 18,564 2% - Acute care clinics 15,387 15,097 2% - Post-acute care clinics 3,467 3,467 0% Admissions2 - Acute care (inpatient) 16
Slide 25: Fresenius Vamed: Sales and EBIT Fully in Line with Expectations
Fresenius Vamed: Sales and EBIT Fully in Line with Expectations €m Q1/11 Q1/10 Growth Project business 84 102 -18% Service business 56 54 4% Total sales 140 156 -10% Total EBIT 5 7 -29% Margin 3.6% 4.5% Order intake1 127 260 -51% Order backlog1 842 8012 5% 1 Project business only 2 Dec 31, 2010 Citi
Slide 26: Financial Calendar
Financial Calendar 13.05.2011 Annual General Meeting, Frankfurt/Main 16.05.2011 Payment of dividend1 02.08.2011 Report on 1st half 2011 02.11.2011 Report on 1st – 3rd quarter 2011 Contact Birgit Grund SVP Investor Relations Fresenius SE & Co. KGaA Telephone: +49 6172 608-2485 e-mail: Birgit.Grund@fr
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