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Fresenius Kabi

In 2013, our business grew once again in all regions and product segments. We achieved organic sales growth of 5%. In North America, we benefitted from supply constraints at competitors. The EBIT¹ margin of 18.5% is fully in line with our expectations.

Key figures FreSEnius Kabi


  2013 € in millions 2012 € in millions Change
Sales 4,996 4,539 10%
EBIT 9261 934 -1%
Net income2 4871 444 10%
Operating cash flow 488 596 -18%
Capital expenditure / acquisitions 448 1,153 -61%
R & D expenses 2501 194 29%
Employees (December 31) 31,961 30,214 6%

  2013 € in millions 2012 € in millions Change
Sales 4,996 4,539 10%
EBIT 9261 934 -1%
Net income2 4871 444 10%
Operating cash flow 488 596 -18%
Capital expenditure / acquisitions 448 1,153 -61%
R & D expenses 2501 194 29%
Employees (December 31) 31,961 30,214 6%

Fresenius Kabi specializes in the therapy and care of chronically and critically ill people. The portfolio includes IV drugs, i. e., intravenously administered generic anesthetics, anti-infectives, analgesics, and drugs for the treatment of oncological and other critical diseases, as well as infusion solutions and blood volume substitutes for infusion therapy.

Another product segment is clinical nutrition. In this segment, we are one of the few companies worldwide that offer both parenteral and enteral nutrition products. In medical technology, we offer infusion and nutrition pumps as well as consumables for the administration of our pharmaceuticals and clinical nutrition products. Lastly, in transfusion technology our portfolio includes products used in the collection and processing of whole blood and blood components as well as in transfusion medicine.

BUSINESS DEVELOPMENT

Sales increased by 10% to €4,996 million in 2013. Of this, 5% is attributable to organic sales growth and 10% to acquisitions. Currency translation had a negative effect of 4%. Divestitures reduced sales growth by 1%.

Sales by region were as follows:

€ in millions20132012Change
Europe2,0531,9535%
North America1,5221,23623%
Asia-Pacific9278637%
Latin America / Africa4944871%
Total4,9964,53910%

€ in millions20132012Change
Europe2,0531,9535%
North America1,5221,23623%
Asia-Pacific9278637%
Latin America / Africa4944871%
Total4,9964,53910%

In Europe, we achieved organic sales growth of 2%. Sales were affected by restrictions in the use of blood volume substitutes by the European Medicines Agency (EMA). In North America, we achieved organic sales growth of 5%, despite a high sales figure in 2012. Continuing supply constraints at our competitors contributed to our growth. In the Asia-Pacific region, significant price reductions in China had an adverse effect on sales growth.

Sales by product segment were as follows:

€ in millions20132012Organic sales growth
Infusion therapy9801,0102%
IV drugs1,7331,7015%
Clinical nutrition1,3321,3145%
Medical devices / Transfusion technology9515147%
Total4,9964,5395%

€ in millions20132012Organic sales growth
Infusion therapy9801,0102%
IV drugs1,7331,7015%
Clinical nutrition1,3321,3145%
Medical devices / Transfusion technology9515147%
Total4,9964,5395%

EBIT¹ was €926 million, an increase of 1% in constant currency. EBIT includes charges of €31 million (net of Calea book gain) to meet U.S. Food and Drug Administration (FDA) requirements at the Grand Island, United States, and Kalyani, India, facilities.

The regions contributed to EBIT as follows:

€ in millions20132012Change
Europe357390-8%
North America5475009%
Asia-Pacific / Latin America / Africa235286-18%
Administrative and corporate R & D expenses-213-24212%
EBIT1926934-1%
EBIT1 margin18.5%20.6%
EBIT margin (excl. Fenwal)19.8%20.6%

€ in millions20132012Change
Europe357390-8%
North America5475009%
Asia-Pacific / Latin America / Africa235286-18%
Administrative and corporate R & D expenses-213-24212%
EBIT1926934-1%
EBIT1 margin18.5%20.6%
EBIT margin (excl. Fenwal)19.8%20.6%

Net income² increased by 10% to €487 million (2012: €444 million).

1 2013 before integration costs for Fenwal Holdings, Inc. (€54 million) 2 Net income attributable to the shareholders of Fresenius Kabi AG; 2013 before integration costs for Fenwal (€40 million)


AcquisitionS and joint ventures

In Indonesia, we entered into a joint venture with PT Soho Global Health (SGH), one of the leading pharmaceutical companies in the country, purchasing 51% of the shares of its subsidiary PT Ethica Industri Farmasi. The company mainly produces IV generics at its plant in Jakarta. This makes us the market leader in Indonesia and creates an excellent platform for further growth in Southeast Asia.

In China, we acquired Jian Yuan Medical Technology Co., Ltd., a manufacturer of infusion and nutrition pumps. This acquisition expands our product portfolio, particularly for the growing markets of the emerging countries. We can use our existing international organization to distribute the products.

Product segments

In the infusion therapy segment, we launched the new infusion solution bottle KabiClear, which has a greater transparency than our previous plastic-bottles. We also introduced our non-PVC freeflex+ infusion bags with a needle-free injection port into other European markets. They prevent injuries from needles when preparing treatments.

In the medical devices segment, we recorded a success in the United States. The FDA approved our infusion pump Agilia, which we already introduced.

In the transfusion technology segment, we received approval in Europe for the plasmapheresis system Aurora and have begun marketing it in some countries. We introduced the Amicus cell separator in Taiwan and Vietnam. It is used for, among other things, the collection of platelets and therapeutic plasma exchange.

In the generic IV drugs segment, we expanded our product portfolio in 2013, both to new areas of application as well as to other regional markets. An overview of the key product launches will be provided here.

In the parenteral nutrition product segment, we launched our three-chamber bag SmofKabiven in Brazil and the lipid solution SMOFlipid in China and Canada.

The FDA exercised its regulatory discretion in the second quarter of 2013, by allowing temporary importation to help alleviate a U.S. shortage of selected clinical nutrition products. We supplied trace elements and phosphate solutions for parenteral nutrition from our factory in Norway. The trace element additives Addamel N for adults and Peditrace for children are recommended components of every parenteral nutritional therapy. Glycophos can be added to parenteral nutrition when additional phosphate is required.

In enteral nutrition, we improved the energy density of Fresubin cream to 2 kcal/ml and improved both its texture and taste. The product, which completes our portfolio of highcalorie sip and tube feed products, has been on the market in France since 2013. Fresubin renal, a high-calorie protein and electrolyte-reduced diet for patients with renal failure, was introduced in Germany, as well as in other markets.

For enteral tube feeding, we successfully introduced our new feeding pump Amika into many European countries. Due to its high degree of user-friendliness it significantly contributes to the safe and effective administration of nutritional therapy.

Please refer to the Management Report for the 2014 financial outlook of Fresenius Kabi. For further information, please see Fresenius Kabi’s website at www.fresenius-kabi.com.

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