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Fresenius Medical Care sees income fall 39%; treatments up
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Net profit at dialysis provider Fresenius Medical Care dropped 39% in the first quarter compared to 2012 because of one-off gains last year from investments, according to company chief financial officer Michael Brosnan. Two days of fewer treatments in the quarter compared to last year also hurt the bottom line, Brosnan said during a recent conference call with investors. Earnings per share for the first quarter of 2013 were $0.74, a decrease of 40% compared to the first quarter of 2012. Net revenue for the first quarter of 2013 increased 7% to $3,464 million compared to the first quarter of 2012. Dialysis services revenue grew 8% to $2,678 million and dialysis product revenue increased 2% to $786 million.
North America revenue for the first quarter of 2013 increased 9% to $2,287 million. Dialysis services revenue grew 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 2% to $183 million.
As of March 31, 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.
The company operates 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%).