Bad Homburg (dpa) – The Fresenius hospital and medical group faced the consequences of the corona pandemic in the third quarter.
Between June and September, Fresenius achieved sales of 8.9 billion euros, one percent more than in the same period of the previous year, as announced by the Dax Group in Bad Homburg. Adjusted for currency effects, sales grew by five percent.
Adjusted net profit was € 427 million, down four percent from the previous year, but analysts feared a stronger drop. Fresenius boss Stephan Sturm assumes that the Corona crisis will also have a negative impact in the last quarter, but confirmed the annual targets. “We are well prepared for the challenges that the pandemic will present us in the coming months,” he said.
In the third quarter, Fresenius benefited from the rescheduling of operations at the Helios subsidiary’s 86 German hospitals that had been postponed in the pandemic in favor of corona patients. Again there were more interventions in clinics in Spain, so Helios sales increased by eight percent.
At the liquid medicine subsidiary Kabi, which offers infusions, anesthetics and clinical nutrition, business in Europe and China recovered, while it weakened in the United States.
The Corona crisis had just hit Fresenius in the clinic business this summer. The group had increased the number of intensive care beds and postponed operations. But since the pandemic in this country unfolded smoothly, many intensive care beds were empty. Federal funds were only able to mitigate the lack of revenue from postponed operations. Because there were fewer surgeries, fewer Fresenius drugs and anesthetics were used. Therefore, CEO Sturm had to cut business targets in the summer.
Meanwhile, Fresenius has prepared for more crown patients. German clinics have 1,300 functioning intensive care beds and can provide another 1,000 on short notice, as the group recently highlighted. That is 700 more than in spring. At the end of October, a third of the intensive care beds were free. Fresenius wants to avoid the general postponement of operations that are not absolutely necessary. At clinics in Germany and Spain, Helios can maintain normal operations even with significantly more corona patients, Sturm said.
At dialysis subsidiary Fresenius Medical Care (FMC), meanwhile, a weak dollar slowed business, but the group was able to increase its profits significantly with nearly stable sales of € 4.4 billion. Operating profit increased by six percent to 632 million euros. FMC is very active in the US, dollar sales lost value when converted to strong euro.
“The global Covid 19 pandemic presented us with many challenges in the third quarter; and it will demand a lot from us in the coming months, ”said FMC Director Rice Powell.