Fresenius Se & Co. Kgaa · XETR:FRE
Fresenius Se & Co. Kgaa — Fresenius — Shareholder Meeting (May 2010)
19 slides from Fresenius Se & Co. Kgaa's shareholder meeting presentation, May 12, 2010
Slide 1: Annual General Meeting Fresenius SE Welcome
Annual General Meeting Fresenius SE Welcome May 12, 2010
Slide 2: Agenda
Agenda I. Financial Results 2009 II. Share Price Development III. 1st Quarter 2010 and Outlook IV. Share Conversion and Change of Legal Form Page 2
Slide 3: Fresenius Group 2009: Significant Accomplishments in a Challenging Economic Environment
Fresenius Group 2009: Significant Accomplishments in a Challenging Economic Environment - Record sales and earnings – guidance fully met or exceeded - All business segments and regions contributing to strong sales and earnings growth - Record cash flow – ahead of schedule in reducing leverage Page 3
Slide 4: Fresenius Group: Strong Financial Results
Fresenius Group: Strong Financial Results €m 14,164 Sales CAGR: 16% 12,336 +13% at constant currency 11,358 10,777 7,889 2,054 EBIT 1,727 CAGR: 21% 1,609 +17% 1,444 at constant currency 969 450 514 Net Income 330 410 222 CAGR: 23% +14% at constant currency 2005 2006 2007 2008 2009 Group financial re
Slide 5: Fresenius SE: Proposed 17th Consecutive Dividend Increase
Fresenius SE: 17th Consecutive Dividend Increase € Proposed Dividend preference share, in € 0.76 0.71 - Proposed dividend: 0.67 €0.75 per ordinary share 0.58 €0.76 per preference share 0.50 0.46 0.42 - Dividend increase of 7% 0.39 0.35 0.32 0.27 - Total distribution: 0.22 €122 m 0.17 0.19 0.14 0.12
Slide 6: Fresenius Share Price Development
Fresenius Share Price Development Share Price Development 2009 2010 Fresenius ordinary share +22% +14% Fresenius preference share +20% +1% DAX index +24% -4% Page 6
Slide 7: Fresenius Group: Successful Start into 2010
Fresenius Group: Successful Start into 2010 Sales EBIT Net Income* Q1/2010 €3,643 m €500 m €119 m Growth at constant 10% 7% 8% currency rates Growth at actual 8% 5% 8% currency rates US GAAP * Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting Page 7
Slide 8: Fresenius Medical Care: 1st Quarter 2010 and Outlook
Fresenius Medical Care: 1st Quarter 2010 and Outlook 1st Quarter 2010 Sales US$2,882 m Net Income US$211 m Outlook 2010 Sales > US$12 bn Net Income US$950 – 980 m US GAAP Page 8
Slide 9: Fresenius Kabi: 1st Quarter 2010 and Outlook
Fresenius Kabi: 1st Quarter 2010 and Outlook 1st Quarter 2010 Sales €800 m EBIT €145 m Outlook 2010 Sales, growth organic 7 – 9% EBIT margin 18 – 19% US GAAP Page 9
Slide 10: Fresenius Helios: 1st Quarter 2010 and Outlook
Fresenius Helios: 1st Quarter 2010 and Outlook 1st Quarter 2010 Sales €608 m EBIT €52 m Outlook 2010 Sales, growth organic 3 – 5% EBIT €220 – 230 m HELIOS hospital Krefeld, Germany US GAAP Page 10
Slide 11: Fresenius Vamed: 1st Quarter 2010 and Outlook
Fresenius Vamed: 1st Quarter 2010 and Outlook 1st Quarter 2010 Sales €156 m EBIT €7 m Outlook 2010 Sales, growth 5 – 10% EBIT, growth 5 – 10% Municipal Clinics Cologne-Merheim (model) US GAAP Page 11
Slide 12: Fresenius Group: 2010 Financial Outlook
Fresenius Group: 2010 Financial Outlook Revenue growth at constant currency 7 – 9% Net income growth* at constant currency 8 – 10% Capex €750 – 800 m * Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting Page 12
Slide 13: Towards One Single Share Class – Share Conversion and Change of Legal Form
Towards One Single Share Class – Share Conversion and Change of Legal Form Mandatory 1:1 conversion of preference Share conversion shares into ordinary shares in a cashless transaction in combination with Change of From ‘SE’ to ‘SE & Co. KGaA’ legal form Page 13
Slide 14: Transaction Rationale
Transaction Rationale 1 Simplify share structure 2 Increase trading liquidity 3 Enhance index-relevant free-float 4 Improve access to equity capital markets Page 14
Slide 15: Maintaining Current Standards for Compliance and Transparency
Maintaining Current Standards for Compliance and Transparency Reduced Voting Power* Else Kröner-Fresenius- Aktien Stiftung Aktien Free-FloatAktien ca 100% 100% 71% 100% 29% 71% Annual General Meeting Annual General Meeting Management SE SE & Co. KGaA Elects Elects Supervisory Board Supervisory Board
Slide 16: Change of Legal Form into a KGaA
Change of Legal Form into a KGaA - No change of corporate strategy - No change of corporate structure - Legal and financial identity will be preserved - No accounting or tax consequences - Articles of association of KGaA follow closely the statutes of Fresenius SE Page 16
Slide 17: Fresenius Group: With Confidence into the Future
Fresenius Group: With Confidence into the Future - Prudent financial management, further improvement of leverage ratios - Sustainable organic growth, opportunities for selective small and mid-sized acquisitions - Diversified sales and earnings base creates stability Page 17
Slide 18: Thank you for your attention
Annual General Meeting Fresenius SE Thank you for your attention May, 12 2010
Slide 19: 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