Fresenius Medical Care AG & Co. KGaA (FMS) is well-poised for growth on the back of a broad range of dialysis products and services and a solid global foothold. However, stiff competition remains a concern.Shares of this Zacks Rank #3 (Hold) company have lost 7.7% year to date against the industry’s growth of 7%. The S&P 500 Index has increased 9.2% in the same time frame.The company, with a market capitalization of $11.09 billion, is one of the largest integrated providers of products and services for indi ...

Fresenius Medical Care AG & Co. KGaA (FMS) reported fourth-quarter 2023 adjusted earnings per share (EPS) of 47 cents, which beat the Zacks Consensus Estimate of 36 cents by 30.6%. The bottom line improved 6.8% year over year.Revenue DetailsRevenues of $5.37 billion (EUR 4,988 million) beat the Zacks Consensus Estimate by 0.9%. The company’s reported revenues were flat year over year but recorded a growth of 7% at constant currency (cc) and 3% on an organic basis.Segmental DetailsFresenius Medical implement ...

▪ Solid organic revenue growth driven by both operating segments 4 2023 – Payors favor home treatments Investor Relations │ Analyst Presentation Q4 2023 Page 11 Low priority on M&A activities 2 Q4 Business Update Outlook Q4 2023 | Key developments at Group level ▪ Broadly stable U.S. same market treatment growth ▪ Operating income (outlook base) increased due to strong FME25 savings, the Tricare settlement and pricing in Care Enablement ▪ Realization of FME25 savings continued ahead of plan ▪ Value-based ca ...

Revenue and Income Performance - Revenue growth of 5% in FY 2023, reaching EUR 19,454 million, driven by favorable business development [3] - Operating income increased by 15% in FY 2023, totaling EUR 1,369 million, exceeding the top end of the outlook range [3] - Free cash flow increased by 32% in FY 2023, reaching EUR 1,960 million, resulting in a margin of 10.1% [29] - Net income for FY 2023 declined by 26% to EUR 499 million, but increased by 4% to EUR 756 million when excluding special items [26] - For Q4 2023, revenue was EUR 4,988 million, a decrease of 0.2% year-over-year, but a growth of 7.4% at constant currency [44] - Operating income for Q4 2023 was EUR 428 million, representing a 21.5% increase year-over-year, and EUR 555 million when excluding special items [44] - For the full year 2023, revenue was EUR 19,454 million, a slight increase of 0.3% year-over-year, with a growth of 5.5% at constant currency [48] - The operating income for the full year 2023 was EUR 1,369 million, a decrease of 9.4% year-over-year, while excluding special items, it was EUR 1,741 million, an increase of 13.1% [48] - Basic earnings per share for Q4 2023 increased by 35.4% to €0.64, and for the full year, it decreased by 25.9% to €1.70 [44][48] Cost Management and Savings - FME25 transformation program achieved annual sustainable savings of EUR 346 million, ahead of the initial target of EUR 250 to 300 million [8] - Special items impacting operating income in 2023 included costs related to the FME25 program (€153 million), Legal Form Conversion Costs (€30 million), and Legacy Portfolio Optimization (€204 million) [35] Financial Position and Debt - Net financial debt reduced by 11% to EUR 10.8 billion, with a net leverage ratio of 3.2x at the end of 2023 [10] - Proposed dividend of EUR 1.19 per share, a 6% increase compared to the prior year's dividend [10] Future Outlook - In 2024, revenue is expected to grow by a low- to mid-single digit percent rate compared to the prior year [31] - The Company expects operating income to grow by a mid- to high-teens percent rate compared to the prior year, with a 2023 revenue outlook of EUR 19,049 million and an operating income outlook of EUR 1,540 million [32] - The Company reconfirms its targets to achieve an operating income margin of 10% to 14% by 2025, excluding impacts from portfolio changes [33] Operational Highlights - As of December 31, 2023, Fresenius Medical Care treated 332,548 patients in 3,925 dialysis clinics worldwide [30] - The Company has a network of 3,925 dialysis clinics, providing treatments for approximately 333,000 patients globally [39] Upcoming Events - The Company will host a press conference on February 20, 2024, to discuss the strategic outlook and full year 2023 results [34] Divestments - Key divestments generated EUR 0.5 billion in total proceeds, with EUR 135 million received in 2023 [9]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number 001-32749 FRESENIUS MEDICAL CARE AG (Exact name of Registrant as specified in its charter) FR ...

Fresenius Medical Care (FMS) recently announced the receipt of FDA 510(k) clearance for the company’s 5008X Hemodialysis System.The new system is aimed at providing an improved standard of care in dialysis therapy to patients suffering from kidney diseases in the United States. The FDA clearance will allow the company to start clinical evaluations and user studies in the United States.Price PerformanceFor the past six months, FMS’s shares have declined 24.0% against the industry’s growth of 6.0%. The S&P 50 ...

Financial Data and Key Metrics - Revenue growth in Q3 was 7% at constant currency, driven by favorable pricing and volume in both Care Delivery and Care Enablement segments [62] - Operating income improved by 20% on a guided basis, with group margin increasing to 8.7% [38] - FME25 transformation program delivered EUR 97 million in savings in Q3, bringing year-to-date savings to EUR 232 million, with a target of EUR 250-300 million by year-end [30] - Leverage ratio remained at 3.4x, within the target range of 3-3.5x, with deleveraging as a top priority [42] Business Line Performance - **Care Delivery**: Organic revenue growth was supported by the U.S. value-based care business, InterWell Health, and reimbursement rate increases. Same-market treatment growth in the U.S. improved to 0.2% when adjusted for acute contract exits [19] - **Care Enablement**: Revenue increased by 5% on a constant currency basis, driven by higher sales of in-center disposables, machines, and home hemodialysis products. Operating income improved to EUR 22 million, supported by FME25 savings and pricing measures [20][41] Market Performance - The U.S. market saw positive growth in Care Delivery, with a favorable payer mix and reimbursement rate increases, though acute care contract exits had a negative impact [19] - Care Enablement faced negative exchange rate effects but benefited from higher sales volumes and pricing measures [40] Strategic Direction and Industry Competition - The company is focused on executing its FME25 transformation program, aiming for EUR 250-300 million in sustainable savings by 2025 [30] - Portfolio optimization continues, with the divestment of National Cardiovascular Partners (NCP) in the U.S. [31] - The company is addressing the potential impact of GLP-1 medications on patient volumes, expecting a balanced long-term effect [14][35] Management Commentary on Operating Environment and Future Outlook - Management highlighted inflationary pressures, particularly in Care Enablement, and negative impacts from nonrecurring pharmaceutical payments and exchange rate headwinds [18] - The company raised its full-year 2023 operating income guidance, expecting low single-digit growth, supported by FME25 savings and productivity improvements [43][44] - Management remains optimistic about achieving an operating profit margin of 10-14% by 2025 [69] Other Important Information - The company completed the refinancing of a EUR 650 million bond expiring in November, using a mix of long-term bank financing, cash, and short-term debt [13] - CMS Star ratings for clinics showed strong performance, with the company outpacing the industry in 3-, 4-, and 5-star clinics [17] Q&A Summary Questions and Answers - **Home Treatments**: Home treatment rates remained stable at around 16% [126] - **Labor Market**: Open positions improved to around 4,300, with labor conditions more stable than previous quarters [50] - **GLP-1 Impact**: No significant impact from GLP-1 medications observed yet, with only 8% of CKD patients prescribed SGLT2 inhibitors [54][90] - **CKCC Margin Dilution**: The CKCC true-up in Q3 was lower than expected, contributing to margin dilution, but this is not expected to repeat in Q4 [55][78] - **Care Enablement Margins**: Margins were impacted by transactional FX effects, with ongoing efforts to improve performance [78] - **Q4 Expectations**: Q4 is expected to be weaker due to tough year-over-year comparisons, including bonus plan favorability and NCP deconsolidation gains in the previous year [97] - **Value-Based Care**: The company is evaluating its participation in government programs like CKCC, with a focus on improving collaboration and transparency [75][86] - **Pricing Negotiations**: Private payer negotiations are ongoing, with a focus on profitability and potential contract exits where necessary [121]

Exhibit 99.1 Filed by Fresenius Medical Care AG & Co. KGaA (Commission File No. 001-32749), pursuant to Rules 165 and 425 under the Securities Act of 1933, as amended This Exhibit consists of a convenience English translation of Fresenius Medical Care AG & Co. KGaA's (FME) Conversion Report issued in connection with its a proposed conversion of the legal form of FME. Under the U.S. Securities Act of 1933, as amended (the Securities Act), this Exhibit may be deemed to be offering material of FME. FME has fil ...

Fresenius Medical Care AG & Co. KGaA (NYSE:FMS) Q4 2022 Earnings Conference Call February 22, 2023 9:30 AM ET Company Participants Dominik Heger - Head, Investor Relations Helen Giza - Chair & Chief Executive Officer Conference Call Participants Graham Doyle - UBS Hassan Al-Wakeel - Barclays Oliver Metzger - ODDO BHF Christoph Gretler - CS Ed Ridley-Day - Redburn Lisa Clive - Bernstein James Vane-Tempest - Jefferies Victoria Lambert - Berenberg Falko Friedrichs - Deutsche Bank Robert Davies - Morgan Stanley ...

© Copyright | --- | --- | --- | --- | |--------------------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | Q4 2022 Conference Call February 22, 2023 Helen Giza, CEO & Chair of the | | | | | Management Board | | | | | | | | | Implementation of measures as presented herein may be subject to information & consultation procedures with works councils and other employee representative bodies, as per local laws and practice. Consultation procedures ma ...