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Fresenius Medical Care reports loss in profit for 4th quarter and full year
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Fresenius Medical Care reported that fourth quarter net income for 2014 fell 4% to $335 million, compared to $349 million in the same quarter last year. Income for the full year fell 6% to 1,045 million, compared to 1,110 million in 2013.
The dialysis provider said they expect net income to increase 0–5% in 2015. For 2016, Fresenius said they expect a revenue increase of 9–12% and net income to grow by 15–20%.
Net revenue for the fourth quarter of 2014 increased 12% to $4,320 million, compared to $3,867 million in the same quarter last year. North America revenue for the fourth quarter of 2014 increased 15% to $2,876 million.
“During fiscal year 2014, we continuously improved our results and delivered on revenue and net income guidance," said CEO Rice Powell. "We have strengthened our core business and also expanded our portfolio with acquisitions in the field of Care Coordination. After revenue of approximately 500 million US$ in 2013 we now expect our Care Coordination business to generate around 1.7 billion of revenue in 2015. We expect accelerated earnings growth for 2015 and beyond supported mainly by a strong organic business, our acquisitions and the Global Efficiency Program.” -by Rebecca Zumoff