Fresenius Se & Co. Kgaa · XETR:FRE
Fresenius Se & Co. Kgaa — Fresenius — Lehman Brothers 11th Annual Global Healthcare Conference 2008
26 slides from Fresenius Se & Co. Kgaa's conference presentation, Mar 18, 2008
Slide 1: Lehman Brothers 11th Annual Global Healthcare Conference – Miami
Lehman Brothers 11th Annual Global Healthcare Conference – Miami March 18 – 20 , 2008
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 Fresenius Biotech Oncology and Immunology Therapies Fresenius Fresenius Fresenius Fresenius Medical Care Kabi Helios Vamed Dialysis Equipment Infusion and Nutrition Hospital Operations Engineering and and Services Therapies Services for
Slide 4: Fresenius Group: Strong Financial Results
Fresenius Group: Strong Financial Results €m 11,358 Sales 10,777 +10 % cc 7,889 1,609 EBIT 7,064 7,271 1,444 +17 % cc 5-yrs-CAGR: 13 % 969 781 845 5-yrs-CAGR: 20 % 330 410 Net 168 222 Income 115 +28 % cc 5-yrs-CAGR: 37 % 2003 2004 2005 2006 2007 Lehman Brothers 11th Annual Global Healthcare Conferen
Slide 5: Fresenius Group: Double-Digit EBIT Growth in all Business Segments
Fresenius Group: Double-Digit EBIT Growth in all Business Segments Fresenius Fresenius Fresenius Fresenius FY/2007 Medical Care Kabi Helios Vamed Sales US$ 9,720 m € 2,030 m € 1,841 m € 408 m Growth +14 % +7 % +10 % +4 % EBIT US$ 1,580 m € 332 m € 155 m € 26 m Growth +20 % +14 % +17 % +13 % Lehman B
Slide 6: Fresenius Group: ~15 % Dividend Increase Proposed
Fresenius Group: ~15 % Dividend € Increase Proposed € 0.67 0.58 - Proposed dividend: 0.50 € 0.66 per ordinary share 0.46 0.42 € 0.67 per preference share 0.39 0.35 0.32 - 15th consecutive dividend 0.27 increase - Total distribution: € 103.2 m 1999 2000 2001 2002 2003 2004 2005 2006 2007 Proposal Leh
Slide 7: Fresenius Kabi: Accomplishments 2007
Fresenius Kabi: Accomplishments 2007 - Strong organic sales growth and further EBIT margin expansion - 2007 acquisitions with ~€ 130 m annualized sales - Nestlé’s enteral nutrition divestitures in France / Spain - Ribbon, manufacturer of antibiotic agents in Italy - Sanderson, leader in infusion sol
Slide 8: Fresenius Helios: Accomplishments 2007
Fresenius Helios: Accomplishments 2007 - Organic sales growth +3 %, excellent 17 % EBIT increase - Significant acquisition activity - 5 hospitals with ~1,700 beds - ~€ 230 m annualized sales - Fifth maximum-care hospital (Krefeld/Hüls) acquired - New financial reporting system with maximum transpare
Slide 9: Fresenius Vamed: Accomplishments 2007
Fresenius Vamed: Accomplishments 2007 Business Characteristics - Project business – project management, consulting, planning, engineering, contracting – 63 % of sales - Service business – facility management, operations management in selected intl. markets – 37 % of sales - Sales distribution: 59 %
Slide 10: Fresenius Biotech: Anticipated Study / Approval Events and Newsflow
Fresenius Biotech: Anticipated Study / Approval Events and Newsflow H1/08 H2/08 H1/09 H2/09 1 Dec 21, 2007 Filing Expected dossier dispatched to EMEA 4 EMEA/CHMP Opinion Removab malignant ascites Removab malignant ascites 2 Jan 30, 2008 Removab Expected Removab approval malignant File accepted and s
Slide 11: Fresenius Business Segments: Financial Outlook 2008
Fresenius Business Segments: Financial Outlook 2008 Fresenius Kabi Sales growth (cc) 12 – 15 % EBIT margin ~16.5 %* *16.5 – 17.0 % before recent acquisitions Fresenius Helios Sales > € 2,050 m EBIT € 160 – 170 m Fresenius Vamed Sales growth 5 – 10 % EBIT growth 5 – 10 % Fresenius Biotech EBIT ~ € -5
Slide 12: Fresenius Group: Outlook 2008
Fresenius Group: Outlook 2008 Guidance Revenue growth 8 - 10 % in constant currency Net income growth in constant currency 10 - 15 % Capex ~ € 750 m Lehman Brothers 11th Annual Global Healthcare Conference - Miami, Fresenius SE, Investor Relations © Copyright, March 18 - 20, 2008 Page 12
Slide 13: Fresenius Group: Poised for Continued Profitable Growth
Fresenius Group: Poised for Continued Profitable Growth - Leading positions in non-cyclical markets with predictable growth - Industry-leading organic growth in all business segments - Diversified revenue and earnings base - International expansion as key organic growth driver - Excellent acquisitio
Slide 14: Attachments
Attachments Untertitel der Kapiteltrennseite Maximal zweizeilig, 18 pt Lehman Brothers 11th Annual Global Healthcare Conference - Miami, Fresenius SE, Investor Relations © Copyright, March 18 - 20, 2008 Page 14
Slide 15: Fresenius Group: Profit and Loss Statement
Fresenius Group: Profit and Loss Statement €m Q4/07 FY/07 FY/07 YoY Remarks actual constant FY/07 rates rates Sales 2,968 11,358 +5 % +10 % Organic growth: 6 % EBIT 425 1,609 +11 % +17 % Margin: 14.2 % Interest result -89 -368 +7 % +2% Fixed-rate/hedged debt: 82 % Taxes -122 -448 -8 % -14 % Tax rate
Slide 16: Fresenius Kabi: Sales Exceeded € 2 Billion
Fresenius Kabi: Sales Exceeded € 2 Billion €m 2007 2006 Growth Organic Growth Germany 434 427 2% 2% Europe ex Germany 930 877 6% 5% Asia-Pacific 311 258 21 % 22 % Latin America 143 128 12 % 9% RoW 212 203 4% 10 % Total sales 2,030 1,893 7% 8% Lehman Brothers 11th Annual Global Healthcare Conference
Slide 17: Fresenius Kabi: Strong Sales Growth in 2007
Fresenius Kabi: Strong Sales Growth in 2007 Organic €m 2007 2006 Growth Sales 2,030 1,893 8% By Product Segment: Infusion Therapy 1,076 1,023 5% Clinical Nutrition 831 753 12 % Transfusion Technology 123 117 5% Lehman Brothers 11th Annual Global Healthcare Conference - Miami, Fresenius SE, Investor
Slide 18: Fresenius Kabi: Excellent EBIT Growth
Fresenius Kabi: Excellent EBIT Growth €m 2007 2006 Growth Total EBIT 332 291 14 % Margin 16.4 % 15.4 % By Region: Europe 294 256 15 % Margin 21.6 % 19.6 % International 113 100 13 % Margin 17.0 % 17.0 % Corporate and Corporate R&D -75 -65 15 % Lehman Brothers 11th Annual Global Healthcare Conference
Slide 19: Fresenius Helios: Excellent Sales Growth
Fresenius Helios: Excellent Sales Growth €m 2007 2006 Growth Total sales 1,841 1,673 10 % - established clinic portfolio 1,693 1,649 3% - acquisitions (consolidation < 1 yr) 148 0 - divestitures (deconsolidation < 1 yr) 0 24 Lehman Brothers 11th Annual Global Healthcare Conference - Miami, Fresenius
Slide 20: Fresenius Helios: EBIT Margin Improvement by 50 bps
Fresenius Helios: EBIT Margin Improvement by 50 bps €m 2007 2006 Growth Total EBIT 155 133 17 % Margin 8.4 % 7.9 % - established clinic portfolio 146 131 Margin 8.6 % 7.9 % - acquisitions (consolidation < 1 yr) 9 0 - divestitures (deconsolidation < 1 yr) 0 2 Lehman Brothers 11th Annual Global Health
Slide 21: Fresenius Helios: 2007 Restructuring Plan – Newly Acquired Acute Hospitals
Fresenius Helios: 2007 Restructuring Plan – Newly Acquired Acute Hospitals Years in portfolio <1 1 2 3 4 5 >5 Total No. of clinics 2 7 - 2 1 2 21 35 Revenue (€m) 23.6 151.4 - 262.8 42.7 248.4 832.0 1,560.9 Target EBITDA margin (%) n.a. 3.0 6.0 9.0 12.0 15.0 15.0 EBITDA (€m) n.a. 4.5 - 23.7 5.1 37.3
Slide 22: Fresenius Vamed: Strong Q4 Sales, Excellent Order Intake and Backlog
Fresenius Vamed: Strong Q4 Sales, Excellent Order Intake and Backlog €m 2007 2006 Growth Total sales 408 392 4% By Division: Project business 259 249 4% Service business 149 143 4% Order intake* 395 337 17 % Order backlog* (Dec 31) 510 387 32 % *project business only Lehman Brothers 11th Annual Glob
Slide 23: Fresenius Vamed: EBIT-Margin Improved by 50 Bps
Fresenius Vamed: EBIT-Margin Improved by 50 Bps €m 2007 2006 Growth Total EBIT 26 23 13 % Margin 6.4 % 5.9 % By Division: Project business 17 14 21 % Margin 6.6 % 5.6 % Service business 9 9 0% Margin 6.0 % 6.3 % Net income 23 20 15 % Lehman Brothers 11th Annual Global Healthcare Conference - Miami,
Slide 24: Fresenius Group: Cash Flow
Fresenius Group: Cash Flow €m Q4/07 FY/07 FY/07 Remarks YoY FY/07 Cash flow 331 1,223 +17 % Strong earnings growth Change in working capital +53 +73 -- Operating Cash flow 384 1,296 +23 % Margin: 11.4 % Capex (net) -201 -666 -17 % Cash flow 183 630 +31 % (before acquisitions and dividends) Acquisiti
Slide 25: Fresenius Group: Debt and Interest Ratios
Fresenius Group: Debt and Interest Ratios Dec 31, Dec 31, Net debt/EBITDA 2007 2006 3.6 3.4 Debt (€m) 5,699 5,872 3.2 3.2 3.0 3.0 3.0 2.9 Net debt (€m) 5,338 5,611 2.8 2.8 2.7 2.7 2.6 2.6 Net debt/EBITDA 2.6 3.0 * 2.4 2.3 2.2 EBITDA/Interest 5.5 4.6 * 2.2 2.0 1.8 YE/01 YE/02 YE/03 YE/04 YE/05 YE/06
Slide 26: Financial Calendar
Financial Calendar 30.4.2008 Report on 1st quarter 2008 21.5.2008 Annual General Meeting, Frankfurt/Main 30.7.2008 Report on 1st half 2008 4.11.2008 Report on 1st-3rd quarters 2008 Contact Birgit Grund SVP Investor Relations Fresenius SE Telephone: +49 6172 608-2485 e-mail: Birgit.Grund@fresenius.co
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