Annual General Meeting Fresenius SE Welcome. May 12, 2010

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Transcription:

Annual General Meeting Fresenius SE Welcome May 12, 2010

Agenda I. Financial Results 2009 II. Share Price Development III. 1 st Quarter 2010 and Outlook IV. Share Conversion and Change of Legal Form Page 2

Fresenius Group 2009: Significant Accomplishments in a Challenging Economic Environment - Record sales and earnings guidance fully met or exceeded - All business segments and regions contributing to strong sales and earnings growth - Record cash flow ahead of schedule in reducing leverage Page 3

Fresenius Group: Strong Financial Results m 10,777 11,358 12,336 14,164 +13% at constant currency Sales CAGR: 16% 7,889 1,444 1,609 1,727 2,054 +17% at constant currency EBIT CAGR: 21% 969 222 330 410 450 514 +14% at constant currency Net Income CAGR: 23% 2005 2006 2007 2008 2009 Group financial results before APP-transaction-related special items Page 4

Fresenius SE: 17 th Consecutive Dividend Increase Proposed Dividend preference share, in 0.76 - Proposed dividend: 0.75 per ordinary share 0.76 per preference share - Dividend increase of 7% - Total distribution: 122 m 0.22 0.19 0.17 0.14 0.12 0.08 0.27 0.35 0.32 0.42 0.39 0.46 0.50 0.58 0.71 0.67 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 (Proposal) Page 5

Fresenius Share Price Development Share Price Development 2009 2010 Fresenius ordinary share +22% +14% Fresenius preference share +20% +1% DAX index +24% -4% Page 6

Fresenius Group: Successful Start into 2010 Sales EBIT Net Income* Q1/2010 3,643 m 500 m 119 m Growth at constant currency rates 10% 7% 8% Growth at actual currency rates 8% 5% 8% US GAAP * Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting Page 7

Fresenius Medical Care: 1 st Quarter 2010 and Outlook 1 st Quarter 2010 Sales Net Income US$2,882 m US$211 m Outlook 2010 Sales Net Income > US$12 bn US$950 980 m US GAAP Page 8

Fresenius Kabi: 1 st Quarter 2010 and Outlook 1 st Quarter 2010 Sales EBIT 800 m 145 m Outlook 2010 Sales, growth organic EBIT margin 7 9% 18 19% US GAAP Page 9

Fresenius Helios: 1 st Quarter 2010 and Outlook 1 st Quarter 2010 Sales EBIT 608 m 52 m Outlook 2010 Sales, growth organic EBIT 3 5% 220 230 m HELIOS hospital Krefeld, Germany US GAAP Page 10

Fresenius Vamed: 1 st Quarter 2010 and Outlook 1 st Quarter 2010 Sales EBIT 156 m 7 m Outlook 2010 Sales, growth EBIT, growth 5 10% 5 10% Municipal Clinics Cologne-Merheim (model) US GAAP Page 11

Fresenius Group: 2010 Financial Outlook Revenue growth at constant currency 7 9% Net income growth * at constant currency 8 10% Capex 750 800 m * Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting Page 12

Towards One Single Share Class Share Conversion and Change of Legal Form Share conversion Mandatory 1:1 conversion of preference shares into ordinary shares in a cashless transaction in combination with Change of legal form From SE to SE & Co. KGaA Page 13

Transaction Rationale 1 Simplify share structure 2 Increase trading liquidity 3 Enhance index-relevant free-float 4 Improve access to equity capital markets Page 14

Maintaining Current Standards for Compliance and Transparency Else Kröner-Fresenius- Aktien Stiftung Aktien 100% 100% Reduced Voting Power* Free-FloatAktien ca 71% 100% 29% 71% Annual General Meeting Management SE Elects Supervisory Board Management SE Supervises / Appoints Board Fresenius Management SE (General Partner) Manages Annual General Meeting SE & Co. KGaA Elects Supervisory Board SE & Co. KGaA Supervises Management Aktien ca. Aktien ca 29% Fresenius 71% SE & Co. KGaA * For selected items no voting power, e.g.: election of Supervisory Board SE & Co. KGaA, discharge of General Partner and Supervisory Board of SE & Co. KGaA for the fiscal year, election of auditor Page 15

Change of Legal Form into a KGaA - No change of corporate strategy - No change of corporate structure - Legal and financial identity will be preserved - No accounting or tax consequences - Articles of association of KGaA follow closely the statutes of Fresenius SE Page 16

Fresenius Group: With Confidence into the Future - Prudent financial management, further improvement of leverage ratios - Sustainable organic growth, opportunities for selective small and mid-sized acquisitions - Diversified sales and earnings base creates stability Page 17

Annual General Meeting Fresenius SE Thank you for your attention May, 12 2010

Safe Harbor Statement This presentation contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements contained in this presentation. Page 19