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Fresenius Medical Care reports income loss in 2015
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Fresenius Medical Care AG & Co. KGAA said its 2015 net income fell 2% to $1.03 billion, compared to $1.05 billion in 2014. Basic earnings per share declined to $3.38, compared to $3.46 last year.
Net income for the fourth quarter of 2015 fell 6% to $317 million. Net revenue grew 1% to $4.35 billion. Net revenue for full year 2015 increased 6% to $16,738 million (+11% at constant currency), compared to 2014.
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Dialysis product revenue declined 11% in the fourth quarter to $886 million, but grew 4% at constant currency to $2.4 billion in the full year. "As we predicted, the very hot rate we were running in Q1 and Q2, we didn't think we would sustain that, and we didn't…The machine business is a little off." CEO Rice Powell saidabout the dialysis product business during a conference call. "But the one thing that seems to continue fairly well are the hemo disposable supplies we are selling and we are accessing very good PD growth…We may look up in Q1 and see that we are running a little hot again as people need to replace equipment."
North America revenue for the fourth quarter of 2015 increased 7% to $3.1 billion. The care coordination business recorded revenue of $501 million. The company's North America segment made 71% of the revenue in 2015. Powell said that revenue per treatment in the U.S. is increasing while cost per treatment is going down. '"The core dialysis business has performed very well," Powell said. The company's care coordination business is also growing organically "as we thought it would," he said.
In 2015, the company performed 27.7 million treatments in the U.S. and treated 183,000 patients at 2,210 clinics.