Ad-hoc | 5 August 2003 07:43

Fresenius AG english

Fresenius Group – First half 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Fresenius Group – First half 2003 In the first half of 2003 the Fresenius Group was substantially impacted by exchange rate fluctuations in the currency translation. At constant currency, Fresenius increased sales 5 % in the first half of 2003. At current rates sales decreased 8 % to 3,456 million euros mainly due to the strengthening of the euro against the dollar (first half 2002: 3,749 million euros). The operating income (EBIT) increased 7 % at constant currency. At current exchange rates EBIT of 390 million euros in the first half of 2003 was 7 % below previous year’s 420 million euros. Despite negative exchange rate effects the Fresenius Group’s net income increased 27 % in the first half of 2003 to 70 million euros (first half 2002: 55 million euros). At constant currency net income increased 45 %. Earnings per preference share were 1.72 euro in the first half of 2003, up from 1.35 euro in 2002. This is an increase of 27 % (at constant currency: 45 %). With 5 % sales growth in the first half of 2003, the Group now anticipates a mid single-digit revenue growth rate at constant currency for the full year 2003. The Fresenius ProServe business segment initiated a program at Wittgensteiner Kliniken AG to reduce costs and increase profitability. With these measures Fresenius ProServe is overcoming at an early stage current challenges in the German health care system, and is supporting its strong position in the German hospital market. The expected one-time expenses of this program are 25 million euros. Before these one-time expenses, the Managing Board maintains its forecast that at constant currency, net income will increase at a double-digit rate. This increase will be mainly driven by the good performance of Fresenius Medical Care and Fresenius Kabi. After these one-time expenses, net income at constant currency will remain at previous year’s level. The Managing Board, Bad Homburg v.d.H., August 5, 2003 end of ad-hoc-announcement (c)DGAP 05.08.2003 ——————————————————————————– WKN: 578560; ISIN: DE0005785604; Index: MDAX Listed: Amtlicher Markt in Düsseldorf, Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Hamburg und Stuttgart 050743 Aug 03