Ad-hoc | 25 February 2004 07:30

Fresenius Medical Care reports Fourth Quarter and Full-Year 2003 results

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Fresenius Medical Care reports Fourth Quarter and Full-Year 2003 results Net revenue grew in the full year 2003 by 9% to US-Dollar 5,528 million (5% at constant currency). Operating income (EBIT) increased 9% to US-Dollar 757 million. In the full-year of 2003, net income increased by 14% up to US-Dollar 331 million from the same period in 2002. In the full-year 2003, earnings per ordinary share rose 14% to US-Dollar 3.42 and US-Dollar 3.49 per preference share. Operating Cash Flow as well as Free Cash Flow reached an all time high in 2003. Operating Cash Flow increased 37% up to US-Dollar 754 million. Free Cash Flow before acquisitions for the full-year of 2003 was US-Dollar 478 million up 37% compared to US-Dollar 349 million in the previous year. Total Revenue for the fourth quarter 2003 increased 7% (2% at constant currency) to US-Dollar 1,452 million. Operating income (EBIT) increased 13% to US-Dollar 208 million in the fourth quarter resulting in an EBIT-margin for the group of 14.3%. Net income increased 15% to US-Dollar 94.5 million for the fourth quarter 2003. For the seventh year in a row, shareholders can approve an increasing dividend for the fiscal year 2003. The Managing Board proposed to the Supervisory Board for the fiscal year 2003 a dividend of Euro 1.02 per ordinary share (2002: Euro 0.94) and Euro 1.08 per preference share (2002: Euro 1.00) for shareholder approval at the next Annual General Meeting on May 27, 2004. For the year 2004, the Company expects revenue growth at constant currencies in the mid-single digit and net income growth in the high-single digit to low-double digit range. In 2004 the company expects capital expenditures of about US-Dollar 250 million and spending on acquisitions of about US-Dollar 100 million. Fresenius AG (WKN 578560, 578563) holds a majority interest in Fresenius Medical Care’s ordinary capital. Fresenius Medical Care AG, Board of Management, Bad Homburg v.d.H., February 25, 2004. end of ad-hoc-announcement (c)DGAP 25.02.2004 ——————————————————————————– WKN: 578580; ISIN: DE0005785802; Index: DAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 250730 Feb 04