(Reuters) – World’s largest dialysis specialist Fresenius Medical Care reported adjusted second-quarter operating profit in line with expectations on Tuesday.
Robust earnings in its health care products division, which produces dialysis machines, helped offset weaker patient volumes in the main health care services division, which provides dialysis procedures.
The German company said its adjusted operating income grew by 8% to 433 million euros ($468.6 million) in the April-June quarter, matching the median consensus in a Vara Research poll provided by FMC.
FMC is still recovering from the excess patient mortality seen during the COVID-19 pandemic, while persistently high inflation weighs on margins as fewer people can afford the expensive treatment and personnel costs rise.
Savings from its FME 25 cost-cutting programme helped offset the inflationary pressure, it said.
The dialysis provider for 332,000 patients worldwide also confirmed its 2024 outlook and medium-term targets.
($1 = 0.9240 euros)
(Reporting by Andrey Sychev and Tristan Veyet in Gdansk; Editing by Milla Nissi)
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