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Entertainment: Fresenius achieves 2020 annual targets - earnings improvements planned

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The series of negative news continues at the health group Fresenius, which was once used to success.

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The hospital and medical group Fresenius wants to reduce its costs because of the stresses caused by the corona pandemic. By the year 2023, the DAX group wants to achieve improvements in earnings after taxes and minority interests of at least 100 million euros annually, as Fresenius announced on Tuesday in Bad Homburg when presenting its annual figures for 2020.

In the following years, additional earnings improvements should then be possible. Initially, however, the group anticipates considerable expenses for the program. These are likely to be in the same range of 100 million euros per year between 2021 and 2023. Fresenius wants to book these as special items. Last year, due to the pandemic, the group posted a 4 percent drop in adjusted earnings to just under 1.8 billion euros.

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The subsidiary Fresenius Medical Care is also working on its costs. In order to reduce this sustainably, the dialysis provider is investing up to 500 million euros in the renovation by 2025. For every euro invested, the company expects an improvement in the operating result by at least the same amount in 2025./tav/stk


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Fresenius achieves 2020 annual targets

Der Health care group achieved its goals last year despite ongoing COVID-19 pollution. As the Bad Homburg DAX group announced, net profit adjusted for currency and special factors decreased by 4 percent to 1.796 billion euros in 2020 as a whole. Here, Fresenius had targeted growth at the lower end of the range of minus 4 percent to plus 1 percent compared to the previous year.

Sales increased by 5 percent after adjusting for currency effects to 36.3 billion euros. Fresenius SE & Co KGaA had set itself the target of an adjusted increase of between 3 and 6 percent compared to the previous year's figure of 35.4 billion euros.

In the final quarter of 2020, sales remained at 9.3 billion euros. Adjusted for currency effects, growth was 5 percent. EBIT before special items was 1.251 billion euros. This corresponds to a decrease of 3 percent or a currency-adjusted increase of 2 percent. Adjusted profit after taxes and third parties decreased by 2 percent (currency-adjusted plus 2 percent) to 494 million euros.

BAD HOMBURG / FRANKFURT (dpa-AFX / Dow Jones Newswires)

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