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Fresenius income grows 3% in second quarter 2015
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Fresenius Medical Care AG & Co. KGAA reported that income for the second quarter of 2015 grew 3% to $241 million, compared to $234 million in the same quarter last year.
Earnings per share were $0.79, up 2% from last year. Second-quarter net revenues increased 9% to $4,199 million from last year.
“Our second quarter 2015 results showed a positive underlying performance," said Rice Powell, chief executive officer of Fresenius Medical Care. "We are pleased with our revenue and earnings growth considering the negative currency impact on our International operations in the second quarter. We have made further progress with the integration of our Care Coordination operations. Our performance is in line with our full year guidance for 2015 and we are confident to achieve our long-term targets for 2020.”
Net revenue for the second quarter of 2015 increased 9% to $4,199 million (+15% at constant currency) compared to the second quarter of 2014. Organic revenue growth worldwide was 8%. Net Health Care revenue grew 13% to $3,345 million (+18% at constant currency).
Revenue in North America increased 17% to $2,946 million. Organic revenue growth was 7%. Net Dialysis Care revenue increased 6% to $2,254 million while the Care coordination revenue increased 149% to $468 million (organic growth of 24%). Dialysis product revenue increased 9% to $224 million, compared to the second quarter of 2014.
International revenue decreased 4% to $1,247 million. On a constant currency basis revenue increased 14%. Dialysis product revenue decreased by 6% to $624 million (+10% at constant currency).
Dialysis product revenue decreased 4% to $854 million, compared to the second quarter of 2014, which Fresenius said was mainly due to negative currency developments in the international product business. On a constant currency basis the dialysis product revenue increased 8%.
International segments
Europe, Middle East and Africa revenue decreased 15% to $668 million (+4% at constant currency). Organic revenue growth was 5%. Net Health Care revenue decreased by 17% to $309 million (+3% at constant currency). Dialysis product revenue decreased 14% to $359 million (+5% at constant currency).
Asia-Pacific revenue increased 22% to $376 million (+32% at constant currency). Dialysis product revenue increased 12% to $212 million (+18% at constant currency).
Latin America revenue increased by 2% to $203 million (+22% at constant currency). Organic revenue growth was 19%. Dialysis product revenue decreased 8% to $53 million (+15% at constant currency). -by Rebecca Zumoff