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Fresenius sees growing 2022 profit as it picks up savings pace – Metro US

Fresenius sees growing 2022 profit as it picks up savings pace

A Fresenius SE logo is pictured in Bad Homburg near
A Fresenius SE logo is pictured in Bad Homburg near Frankfurt

(Reuters) – German healthcare group Fresenius said on Tuesday it expected earnings to keep climbing this year amid cost inflation and persisting COVID-19 impact on its dialysis unit, as it sees earlier and higher savings from its ongoing cost cutting programme.

The group, which also owns the Helios hospital chain, drugmaker Kabi and medical services unit Vamed, forecast sales growth in a mid-single-digit percentage this year, while its net income is expected to increase by low single digits, both in constant currencies.

Its profit rose 4% to 1.87 billion euros ($2.11 billion) in 2021, above analysts’ average estimate of 1.83 billion in a company-provided poll, on a 3% revenue growth to 37.52 billion euros.

($1 = 0.8845 euros)

(Reporting by Milla Nissi in Gdansk; editing by David Evans)

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