Fresenius Se & Co. Kgaa · XETR:FRE
Fresenius Se & Co. Kgaa — DZ-Bank German Investment Day 2009
25 slides from Fresenius Se & Co. Kgaa's conference presentation, May 27, 2009
Slide 1: DZ-Bank – German Investment Day
DZ-Bank – German Investment Day May 27, 2009
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 Fresenius - 2008 revenue: € 12.3 billion - Active in ~100 countries Biotech Oncology and Immunology Therapies Fresenius Fresenius Fresenius Fresenius Medical Care Kabi Helios Vamed Dialysis Equipment Infusion and Nu
Slide 4: Fresenius Group: Financial Results
Fresenius Group: Financial Results Sales EBIT Net income* Q1/09 € 3,373 m € 477 m € 110 m Growth at constant 15 % 20 % 6% currency rates Growth at actual 21 % 27 % 10 % currency rates * Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting DZ-Bank German Inve
Slide 5: Fresenius Group: Significant Growth in All Business Segments
Fresenius Group: Significant Growth in All Business Segments Q1/09 Fresenius Fresenius Fresenius Fresenius Medical Care Kabi Helios Vamed Sales US$ 2,560 m € 722 m € 577 m € 116 m Growth 2% 32 % 13 % 57 % EBIT US$ 396 m € 138 m € 44 m €4m Growth 2% 59 % 16 % 0% DZ-Bank German Investment Day – Luxemb
Slide 6: Fresenius Medical Care: Update Q1/09
Fresenius Medical Care: Update Q1/09 - Organic sales growth of 8 % – at high end of target - North America: the dialysis specific healthcare reform has been passed in July 2008; +4 % year-over-year growth in revenue per treatment - International: continued strong growth in dialysis services – +18 %
Slide 7: Fresenius Kabi: Update Q1/09
Fresenius Kabi: Update Q1/09 - Strong organic sales growth of 7 % (excluding APP und Dabur Pharma) - APP Pharmaceuticals with 30 % sales growth in local currency - Continued double-digit organic sales growth in emerging markets - Roll-out of Dabur’s oncology portfolio → USA: Irinotecan, Paclitaxel,
Slide 8: Fresenius Helios: Update Q1/09
Fresenius Helios: Update Q1/09 - Strong organic like-for-like sales growth of 5 % - Krefeld/Huels hospital expected to achieve positive EBIT in 2009 - Integration of newly acquired hospitals in Northeim and Mansfeld on track - Election year 2009: favorable reimbursement legislation but slow HELIOS h
Slide 9: Fresenius Vamed: Update Q1/09
Fresenius Vamed: Update Q1/09 - Significant sales growth driven by strong project business - EBIT within target expectations - Favorable order intake expected to continue Q1/06 Q1/07 Q1/08 Q1/09 49 66 125 88 €m Accident and Emergency Hospital Linz, Austria DZ-Bank German Investment Day – Luxembourg,
Slide 10: Fresenius Biotech: Removab – First Approved Trifunctional Antibody Worldwide
Fresenius Biotech: Removab – First Approved Trifunctional Antibody Worldwide - European Commission approved Removab for the treatment of malignant ascites - Market launch in Germany within a few weeks; further European countries to follow - List price Germany: € 11,500 per treatment (four doses of 1
Slide 11: Fresenius Group: 2009 Financial Outlook Confirmed
Fresenius Group: 2009 Financial Outlook Confirmed 2009 Outlook Fresenius Sales > US$ 11,100 m Medical Care Net Income US$ 850 – 890 m Fresenius Sales growth 25 – 30 % at constant currency Kabi EBIT margin* 19.5 – 20.5 % Fresenius Sales > € 2.3 bn Helios EBIT € 180 – 200 m Fresenius Sales growth 5 –
Slide 12: Fresenius Group: Positive Outlook 2009 Confirmed
Fresenius Group: Positive Outlook 2009 Confirmed Guidance 2009 Revenue growth at constant currency > 10 % organic 6–8% Net income growth* ~ 10 % at constant currency Capex ~ € 700 – 750 m * Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting DZ-Bank German
Slide 13: Attachments
Attachments Untertitel der Kapiteltrennseite Maximal zweizeilig, 18 pt DZ-Bank German Investment Day – Luxembourg, Fresenius SE, Investor Relations © Copyright, May 27, 2009 Page 13
Slide 14: Fresenius Group: Profit and Loss Statement, Adjusted for Special Items
Fresenius Group: Profit and Loss Statement, Adjusted for Special Items €m Q1/09 Q1/08 YoY Remarks actual constant rates rates Sales 3,373 2,798 21 % 15 % Organic growth: 8 % EBIT 477 377 27 % 20 % Incl. € 7 m amortization of APP intangible assets Interest result -145 -84 -73 % -67 % Taxes -111 -103
Slide 15: Fresenius Group: Cash Flow
Fresenius Group: Cash Flow €m Q1/09 Q1/08 YoY Remarks Cash flow 409 300 36 % Change in working capital -173 -22 -- Change in mark-to-market valuation MEB and CVR -54 0 -- Operating Cash flow 182 278 -35 % Margin: 5.4 % Capex (net) -147 -161 9% Cash flow 35 117 -70 % (before acquisitions and dividend
Slide 16: Fresenius Group: Debt Maturity Profile March 31, 2009
Fresenius Group: Debt Maturity Profile1 March 31, 2009 €m Fresenius Medical Care 2,000 Fresenius excl. FMC 1,800 1,600 1,400 1,200 1,000 800 600 400 2 200 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 >2017 1 Based on utilization of major financing instruments; excl. Fresenius Medical Care’s Accoun
Slide 17: Fresenius Group: Debt and Interest Ratios
Fresenius Group: Debt and Interest Ratios Mar 31, Dec 31, Net debt/EBITDA 2009 2008 3.7 3.6 Debt (€m) 9,199 8,787 thereof 61 % US$ denominated 3.6 3.2 3.0 3.0 Net debt (€m) 8,793 8,417 2.7 2.7 2.6 2.6 Net debt/EBITDA 3.6 3.6* 2.3 Target 2010: 2.2 2.5 – 3.0x EBITDA/Interest 4.2 4.0* 08 08 08 08 09 1
Slide 18: Fresenius Kabi: Organic Sales Growth Fully in Line with Expectations
Fresenius Kabi: Organic Sales Growth Fully in Line with Expectations Organic €m Q1/09 Q1/08 Growth Infusion Therapy 168 175 4% I.V. Drugs 237 75 11 % (excluding APP and Dabur) Clinical Nutrition 216 198 10 % Medical Devices/ Transfusion Technology 101 97 5% Total sales 722 545 7% DZ-Bank German Inve
Slide 19: Fresenius Kabi: Organic Sales Growth Fully in Line with Expectations
Fresenius Kabi: Organic Sales Growth Fully in Line with Expectations Organic €m Q1/09 Q1/08 Growth* Europe 376 368 5% North America 168 30 3% Asia-Pacific 111 86 10 % Latin America/Africa 67 61 20 % Total sales 722 545 7% * excluding APP Pharmaceuticals and Dabur Pharma DZ-Bank German Investment Day
Slide 20: Fresenius Kabi: Strong EBIT Growth
Fresenius Kabi: Strong EBIT Growth €m Q1/09 Q1/08 Growth Europe 80 80 0% Margin 21.3 % 21.7 % North America 50 3 -- Margin 29.8 % 10.0 % Asia-Pacific/Latin America/Africa 27 23 17 % Margin 15.2 % 15.6 % Corporate and Corporate R&D -19 -19 0% Total EBIT 138 87 59 % Margin 19.1 % 16.0 % DZ-Bank German
Slide 21: Fresenius Helios: Excellent Sales and Earnings Development
Fresenius Helios: Excellent Sales and Earnings Development €m Q1/09 Q1/08 Growth Total sales 577 509 13 % EBIT Established clinic portfolio 44 38 16 % Margin 8.2 % 7.5 % Net acquisitions 0 0 (consolidation/deconsolidation < 1 yr) Total EBIT 44 38 16 % Margin 7.6 % 7.5 % DZ-Bank German Investment Day
Slide 22: Fresenius Helios: Strong Sales Growth
Fresenius Helios: Strong Sales Growth €m Q1/09 Q1/08 Growth Established clinic portfolio 536 504 5 %* Acquisitions (consolidation < 1 yr) 41 Divestitures (deconsolidation < 1 yr) 5 Total sales 577 509 13 % * On a like-for-like basis DZ-Bank German Investment Day – Luxembourg, Fresenius SE, Investor
Slide 23: Fresenius Helios: Performance Indicators
Fresenius Helios: Performance Indicators Q1/09 Q1/08 Change No. of hospitals1 62 57 - Acute clinics 43 38 - Post-acute care clinics 19 19 No. of beds1 18,492 17,249 7% - Acute clinics 15,046 13,733 10 % - Post-acute care clinics 3,446 3,516 -2 % Admissions2 - Acute care (in-patient) 147,623 127,117
Slide 24: Fresenius Vamed: Strong Sales Growth
Fresenius Vamed: Strong Sales Growth €m Q1/09 Q1/08 Change Project business 68 35 94 % Service business 48 39 23 % Total sales 116 74 57 % Total EBIT 4 4 0% Margin 3.4 % 5.4 % Order intake1 88 125 -30 % 2 Order backlog1 592 571 4% 1 Project business only 2 Dec 31, 2008 DZ-Bank German Investment Day
Slide 25: Financial Calendar
Financial Calendar 4.8.2009 Report on 1st half 2009 3.11.2009 Report on 1st-3rd quarters 2009 Contact Birgit Grund SVP Investor Relations Fresenius SE Telephone: +49 6172 608-2485 e-mail: Birgit.Grund@fresenius.com For further information and current news: http://www.fresenius.com DZ-Bank German Inv
Fresenius SE & Co. KGaA — DZ-Bank German Investment Day 2009 on 6ix