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Fresenius Medical Care 2013 income falls 39%

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Fresenius Medical Care (FMC), the largest dialysis provider in the world, announced that net profit for the first quarter of 2013 fell 39% to $225 million compared to 2012 because the 2012 figure was inflated by one-off gains from investments, and there were two fewer treatment days in the first quarter of 2013, Chief Financial Officer Michael Brosnan said during a conference call. Earnings per share (EPS) for the first quarter of 2013 was $0.74, a decrease of 40% compared to the corresponding number for the first quarter of 2012. EPS decreased by 8% in the first quarter of 2013 if compared to an adjusted EPS number of $0.80, excluding the investment gain, for the first quarter of 2012.

Net revenue for the first quarter of 2013 increased by 7% to $3,464 million (+7% at constant currency) compared to the first quarter of 2012. Organic revenue growth worldwide was 4%. Dialysis services revenue grew by 8% to $2,678 million (+9% at constant currency) and dialysis product revenue increased by 2% to $786 million (+2% at constant currency). North America made up 66% of the company's revenue growth.

North America revenue for the first quarter of 2013 increased by 9% to $2,287 million. Dialysis services revenue grew by 10% to $2,104 million with a same store treatment growth of 4%. Average revenue per treatment for U.S. services increased to $359 in the first quarter of 2013 compared to $353 for the corresponding quarter in 2012. Dialysis product revenue decreased by 2% to $183 million.

As of March 31, 2013, Fresenius Medical Care treated 261,648 dialysis patients worldwide, an increase of 3% compared to the previous year's figure. The North America division  provided dialysis treatments for 167,233 patients, an increase of 3% compared to the corresponding number for 2012. The International segment provided dialysis treatments for 94,415 patients, an increase of 3% over the prior year’s figure.

As of March 31, 2013, the company operated a total of 3,180 dialysis clinics worldwide, an increase of 2% compared to the corresponding number for 2012. The number of clinics is comprised of 2,090 clinics in North America (+2%) and 1,090 clinics in the International segment (+2%).

During the first quarter of 2013, Fresenius Medical Care delivered approximately 9.7 million dialysis treatments worldwide. This represents an increase of 5% compared to the previous year’s figure. North America accounted for 6.1 million treatments, an increase of 7%. The International segment delivered 3.5 million treatments, an increase of 2%.

As of March 31, 2013, Fresenius Medical Care had 86,855 employees (full-time equivalents) worldwide, compared to 86,153 employees at the end of 2012.