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Fresenius Medical Care

In an economically challenging 2013, Fresenius Medical Care again achieved excellent organic sales growth of 5%. We further expanded our global franchise and reached a new record level of revenue.

Key figures FreSEnius Medical Care


  2013 US$ in millions 2012 US$ in millions Change
Sales 14,610 13,800 6%
EBIT 2,256 2,3291 -3%
Net income2 1,110 1,1181 -1%
Operating cash flow 2,035 2,039 0%
Capital expenditure / acquisitions 1,311 2,561 -49%
R & D expenses 126 112 13%
Employees (December 31) 95,637 90,866 5%

  2013 US$ in millions 2012 US$ in millions Change
Sales 14,610 13,800 6%
EBIT 2,256 2,3291 -3%
Net income2 1,110 1,1181 -1%
Operating cash flow 2,035 2,039 0%
Capital expenditure / acquisitions 1,311 2,561 -49%
R & D expenses 126 112 13%
Employees (December 31) 95,637 90,866 5%

Fresenius Medical Care is the world’s leading provider of dialysis services and dialysis products for patients with chronic kidney failure. When the kidney function of patients with this disease fails, dialysis takes over the vital task of cleansing the blood from toxins and surplus water. In dialysis, two treatment methods are distinguished: hemodialysis (HD) and peritoneal dialysis (PD). With HD, the patient’s blood is cleansed with a dialyzer, or artificial kidney, a process that is controlled by a hemodialysis machine. In the case of PD, the patient’s peritoneum is used as a filter to cleanse the blood.

As a vertically integrated company, Fresenius Medical Care offers services and dialysis products along the entire dialysis value chain in over 120 countries. Fresenius Medical Care has a worldwide network of more than 40 production sites. Our largest plants are in the United States, Germany, and Japan. We further expanded our leading market position in 2013: We treated more than 270,000 patients at 3,250 dialysis clinics worldwide and the number of treatments increased by 5% to 40.5 million.

SALES BY REGION


US$ in millions20132012ChangeCurrency translation effects% of total sales
North America9,6069,0316%0%66%
Europe / Middle East / Africa3,0232,8935%2%21%
Asia-Pacific1,1041,0436%-2%7%
Latin America8438045%-10%6%
Corporate342915%4%0%
Total14,61013,8006%0%100%

US$ in millions20132012ChangeCurrency translation effects% of total sales
North America9,6069,0316%0%66%
Europe / Middle East / Africa3,0232,8935%2%21%
Asia-Pacific1,1041,0436%-2%7%
Latin America8438045%-10%6%
Corporate342915%4%0%
Total14,61013,8006%0%100%

BUSINESS DEVELOPMENT

Fresenius Medical Care increased sales by 6% to US$ 14,610 million in 2013 (2012: US$ 13,800 million). Organic sales growth was 5%. Acquisitions contributed 2%. Divestitures reduced sales growth by 1%.

Sales from dialysis services increased by 6% to US$ 11,130 million (2012: US$ 10,492 million). With 76%, dialysis services was by far the largest contributor to Fresenius Medical Care’s total sales. Sales of dialysis products grew by 5% to US$ 3,480 million (2012: US$ 3,308 million).

EBIT was US$ 2,256 million (2012¹: US$ 2,329 million). The EBIT margin was 15.4%.

Net income² attributable to shareholders of Fresenius Medical Care AG & Co. KGaA was US$ 1,110 million (2012: US$ 1,118 million).

The Company’s earnings development was impacted by lower reimbursement rates for Medicare dialysis patients based on budget cuts in the United States (sequestration). For more details please see here.

North America

Accounting for 66% of sales, North America remained Fresenius Medical Care’s largest business region. In 2013, sales grew by 6% to US$ 9,606 million compared to US$ 9,031 million in 2012. Organic sales growth was 4%. Acquisitions contributed 3%; divestitures reduced sales growth by 1%.

EBIT was US$ 1,624 million compared to US$ 1,715 million in 2012¹. The EBIT margin was 16.9% (2012: 19%). In 2013, the average revenue per treatment in the United States was US$ 359 compared to US$ 355 in 2012. The average cost per treatment in the United States increased from US$ 283 in 2012 to US$ 293 in 2013.

SALES BY SEGMENT


US$ in millions20132012Change
North America
Dialysis services8,7728,2307%
Dialysis products8348014%
Total9,6069,0316%
International
Dialysis services2,3582,2624%
Dialysis products2,6122,4785%
Total4,9704,7405%
Worldwide
Dialysis services11,13010,4926%
Dialysis products33,4803,3085%
Total14,61013,8006%

US$ in millions20132012Change
North America
Dialysis services8,7728,2307%
Dialysis products8348014%
Total9,6069,0316%
International
Dialysis services2,3582,2624%
Dialysis products2,6122,4785%
Total4,9704,7405%
Worldwide
Dialysis services11,13010,4926%
Dialysis products33,4803,3085%
Total14,61013,8006%

International

In 2013, the International segment, comprising the business regions Europe / Middle East / Africa, Asia-Pacific, and Latin America, achieved excellent results. About 34% of Fresenius Medical Care’s total sales were derived from these regions. Sales in the International segment increased by 5% to US$ 4,970 million (2012: US$ 4,740 million), 6% in constant currency. Organic sales growth was 5%. Acquisitions contributed 2%, divestitures reduced sales growth by 1%. Currency translation had a negative effect of 1%. EBIT in the International segment was US$ 858 million (2012: US$ 809 million). The EBIT margin was 17.3% (2012: 17.1%).

Treatment Quality

In 2013, physicians and dialysis clinical staff again offered our patients the highest-quality treatment based on clinical quality parameters as shown in the table below. Please see Management Report for further details on treatment quality.

Please refer to the Management Report for the 2014 financial outlook of Fresenius Medical Care. For further information, please see Fresenius Medical Care’s Annual Report 2013 or visit the website at www.fmc-ag.com.

FreSEnius Medical Care BY REGION


North AmericaEurope / Middle East / AfricaLatin AmericaAsia-PacificTotal 2013Change
2013/2012
Dialysis clinics (December 31)2,1336322312543,2503%
Dialysis patients (December 31)171,44051,54129,27217,869270,1225%
Treatments (in millions)25.667.734.422.6540.465%

North AmericaEurope / Middle East / AfricaLatin AmericaAsia-PacificTotal 2013Change
2013/2012
Dialysis clinics (December 31)2,1336322312543,2503%
Dialysis patients (December 31)171,44051,54129,27217,869270,1225%
Treatments (in millions)25.667.734.422.6540.465%

QUALITY Parameters OF FRESENIUS MEDICAL CARE PATIENTS¹


USAEMEAAsia-Pacific
201320122013201220132012
Kt/V ≥ 1,297%97%96%97%96%97%
Hemoglobin = 10 -12 g/dl75%75%60%58%59%59%
Hemoglobin = 10 -13 g/dl81%82%78%78%68%67%
Albumin ≥ 3,5 g/dl286%85%88%86%91%89%
Phosphate ≤ 5,5 mg/dl266%66%77%79%70%71%
Hospitalization days9.49.89.49.34.2-

USAEMEAAsia-Pacific
201320122013201220132012
Kt/V ≥ 1,297%97%96%97%96%97%
Hemoglobin = 10 -12 g/dl75%75%60%58%59%59%
Hemoglobin = 10 -13 g/dl81%82%78%78%68%67%
Albumin ≥ 3,5 g/dl286%85%88%86%91%89%
Phosphate ≤ 5,5 mg/dl266%66%77%79%70%71%
Hospitalization days9.49.89.49.34.2-

12012 adjusted for other one-time costs of US$ 110 million related to the amendment of the agreement Venofer and a donation to the American Society of Nephrology 2Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA; 2012 adjusted for a non-taxable investment gain of US$ 140 million and other one-time costs of US$ 71 million
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