Frankfurt (Germany), May 4 (Latest).- The German health technology manufacturer Fresenius reduced net attributable profit in the first quarter to 413 million euros, 5% less than a year earlier, due to higher costs and the fall in the results of the dialysis services subsidiary.
Fresenius reported today that the operating result fell to 902 million euros (-10%) and that the turnover improved to 9,720 million euros (+8%).
Sales would have grown 5% without the positive effects of exchange rates.
The company said the headwind remains due to the cost of high inflation and supply chain problems.
Likewise, the war in Ukraine has generated more uncertainty and volatility and had a negative effect of 14 million euros on the net result in the first quarter.
The dialysis products and services division Fresenius Medical Care reduced the attributable net profit by up to €200 million (-20%) due to the mortality of its patients due to covid-19.
The CEO of Fresenius, Stephan Sturm, considered that they have started the year 2022 in a solid way, even somewhat better than expected in the Helios clinic division and in Kabi, the subsidiary that offers intravenous generics, clinical nutrition and infusions .
Sturm said the first quarter was weighed down by the coronavirus pandemic, the war in Ukraine, supply chain bottlenecks and, above all, rising costs, significant in some cases.
Above all, labor, material and logistics costs increased.
“We will have to look carefully at all these factors,” the Fresenius CEO said.
Kabi improved net profit to €201 million (+6%), due to growth in emerging markets.
Helios, which are the hospitals in Germany, Quirónsalud and the Eugin fertility treatment clinics in Spain, earned 195 million euros (+13%), due to the increase in patient admissions.
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