Fresenius Medical Care AG (FMS) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, Moritz. Welcome, everyone, to our earnings call for the fourth quarter and the financial year 2025. As always, I start out the call by mentioning our cautionary language that is in our safe harbor statement as well as in our presentation and in all the materials that we have distributed earlier today. For further details concerning risks and uncertainties, please refer to these documents and to our SEC filings. We will have one hour for the call, In order to give everyone the chance to ask questions, we would limit the number of questions to two. Thank you for making this work, as always. We will begin our full-year financial results by reviewing key strategic milestones achieved in 2025, which mark the end of our mid-term strategy. Next, we will analyze fourth quarter outcomes and present our outlook for 2025 and different horizons beyond. Let me now welcome Helen Gieser, CEO and Chair of the Management Board, and Martin Fisher, our Chief Financial Officer. Helen, the floor is yours. Thank you, Dominic, and welcome, everyone. It's great to have you with us today. We appreciate your continued interest in Fresenius Medical Care. 2025 was a milestone year for Fresenius Medical Care. We delivered an outstanding step up in profitability, having achieved the upper end of our 2025 financial outlook and closing the year with an exceptional fourth quarter performance. The progress we realized in 2025 and the momentum we have built over the past three years reflects the consistent focus and dedication of our employees around the world. Their commitment is the foundation to our success as we strive to lead kidney care through exceptional care and innovation. And I'm extremely appreciative of the progress we made for our patients and the exciting path we have ahead o...