Fresenius continues to grow in 2Q, confirms outlook for 2018

• Healthy organic growth across the board, North American Products business continues strong growth
• Underlying Care Coordination margin improved
• Results continue to be impacted by strong currency headwinds
• Calcimimetics continue to evolve
• Divestiture of Sound Inpatient Physicians successfully closed
• NxStage acquisition expected to close in the second half of 2018

Key figures (IFRS)

EUR million	Q2 2018	Q2 2017	Growth yoy	Growth yoy, cc	H1 2018	H1 2017	Growth yoy	Growth yoy, cc
Revenue	4,214	4,471	(6%)	2%	8,189	9,019	(9%)	0%
Revenue on a comp. basis1	4,214	4,340	(3%)	5%	8,189	8,749	(6%)	3%
Revenue adjusted1	4,214	4,342	(3%)	5%	8,189	8,651	(5%)	4%
Operating income (EBIT)	1,401	583	140%	162%	1,898	1,235	54%	68%
EBIT on a comp. basis1	568	583	(3%)	4%	1,078	1,235	(13%)	(5%)
EBIT adjusted1	568	591	(4%)	2%	1,078	1,144	(6%)	3%
Net income2	994	269	270%	303%	1,273	577	121%	141%
Net income on a comp. basis1,2	308	269	15%	22%	599	577	4%	13%
Net income adjusted1,2	273	274	0%	6%	517	523	(1%)	7%
Basic EPS (EUR)	3.24	0.88	270%	303%	4.15	1.88	121%	141%
EPS on a comp. basis1	1.00	0.88	15%	22%	1.96	1.88	4%	13%
EPS adjusted1	0.89	0.89	0%	6%	1.69	1.71	(1%)	7%

cc = at constant currency, EPS = earnings per share

Rice Powell, Chief Executive Officer of Fresenius Medical Care, stated: ‘In the second quarter, we have seen solid growth resulting in a strong net income increase of 22 percent at constant currency – excluding the positive impact of the successful and efficient closing of the Sound Inpatient Physicians divestment. On the back of the strong development of our Products business and continued growth of our Services business, we expect growth to further accelerate in the second half of 2018.’

The company expects revenue³ growth between 5% and 7% at constant currency. Net income on a comparable basis⁴is expected to increase by 13% to 15% at constant currency and on an adjusted basis^4,5 to increase by 7% to 9% at constant currency.

The targets exclude the effect from the planned acquisition of NxStage Medical and the gain (loss) related to divestitures of Care Coordination activities.

Conference call

Fresenius Medical Care will host a conference call to discuss the results of the second quarter today at 3:30 p.m. CEDT / 9:30 a.m. EDT. Details will be available in the Investors/Events section. A replay will be available shortly after the call.

https://bit.ly/2LGSJ99