Exhibit 99.2
Fresenius Medical Care AG & Co. KGaA
COMPLETE OVERVIEW OF THE FOURTH QUARTER 2021
AND FULL YEAR 2021
February 22, 2022
Investor Relations |
phone: +49 6172 609 2525 |
email: ir@fmc-ag.com |
Content: | |
Statement of earnings | page 2 |
Segment information | page 3 |
Balance sheet | page 4 |
Cash flow | page 5 |
Revenue development | page 6 |
Key metrics | page 7 |
Quality data | page 8 |
Reconciliation results excl. special items | page 9 |
Outlook 2022 | page 10 |
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.
Copyright by Fresenius Medical Care AG & Co. KGaA
Statement of earnings
Three months ended December 31, | Twelve months ended December 31, | |||||||||||||||||||||||||||||||
in € million, except share data | 2021 | 2020 | Change | Change at cc | 2021 | 2020 | Change | Change at cc | ||||||||||||||||||||||||
Health Care Services | 3,621 | 3,406 | 6.3 | % | 2.9 | % | 13,876 | 14,114 | -1.7 | % | 1.9 | % | ||||||||||||||||||||
Health Care Products | 1,026 | 994 | 3.3 | % | 1.2 | % | 3,743 | 3,745 | -0.1 | % | 1.6 | % | ||||||||||||||||||||
Total revenue | 4,647 | 4,400 | 5.6 | % | 2.5 | % | 17,619 | 17,859 | -1.3 | % | 1.8 | % | ||||||||||||||||||||
Costs of revenue | 3,328 | 3,026 | 10.0 | % | 6.8 | % | 12,542 | 12,322 | 1.8 | % | 5.2 | % | ||||||||||||||||||||
Gross profit | 1,319 | 1,374 | -4.0 | % | -6.7 | % | 5,077 | 5,537 | -8.3 | % | -5.7 | % | ||||||||||||||||||||
Selling, general and administrative | 823 | 906 | -9.1 | % | -11.4 | % | 3,096 | 3,134 | -1.2 | % | 1.6 | % | ||||||||||||||||||||
Research and development | 68 | 52 | 29.2 | % | 27.6 | % | 221 | 194 | 13.9 | % | 15.6 | % | ||||||||||||||||||||
Income from equity method investees | (21 | ) | (46 | ) | -54.5 | % | -54.8 | % | (92 | ) | (95 | ) | -2.5 | % | -2.4 | % | ||||||||||||||||
Operating income | 449 | 462 | -2.7 | % | -6.9 | % | 1,852 | 2,304 | -19.6 | % | -17.2 | % | ||||||||||||||||||||
Operating income margin | 9.7 | % | 10.5 | % | 10.5 | % | 12.9 | % | ||||||||||||||||||||||||
Interest income | (28 | ) | (14 | ) | 95.7 | % | 97.1 | % | (73 | ) | (42 | ) | 74.4 | % | 80.0 | % | ||||||||||||||||
Interest expense | 95 | 98 | -3.6 | % | -6.3 | % | 353 | 410 | -13.8 | % | -11.2 | % | ||||||||||||||||||||
Interest expense, net | 67 | 84 | -20.7 | % | -24.1 | % | 280 | 368 | -23.8 | % | -21.6 | % | ||||||||||||||||||||
Income before taxes | 382 | 378 | 1.3 | % | -3.0 | % | 1,572 | 1,936 | -18.8 | % | -16.4 | % | ||||||||||||||||||||
Income tax expense | 79 | 139 | -43.2 | % | -45.7 | % | 353 | 501 | -29.5 | % | -27.3 | % | ||||||||||||||||||||
Net income | 303 | 239 | 27.2 | % | 21.8 | % | 1,219 | 1,435 | -15.1 | % | -12.6 | % | ||||||||||||||||||||
Net income attributable to noncontrolling interests | 74 | 62 | 21.7 | % | 18.4 | % | 250 | 271 | -8.0 | % | -4.7 | % | ||||||||||||||||||||
Net income attributable to shareholders of FMC-AG & Co. KGaA | 229 | 177 | 29.1 | % | 22.9 | % | 969 | 1,164 | -16.8 | % | -14.4 | % | ||||||||||||||||||||
Operating income | 449 | 462 | -2.7 | % | -6.9 | % | 1,852 | 2,304 | -19.6 | % | -17.2 | % | ||||||||||||||||||||
Depreciation, amortization and impairment loss | 437 | 581 | -24.9 | % | -27.1 | % | 1,624 | 1,786 | -9.1 | % | -6.5 | % | ||||||||||||||||||||
EBITDA | 886 | 1,043 | -15.1 | % | -18.1 | % | 3,476 | 4,090 | -15.0 | % | -12.5 | % | ||||||||||||||||||||
EBITDA margin | 19.1 | % | 23.7 | % | 19.7 | % | 22.9 | % | ||||||||||||||||||||||||
Weighted average number of shares | 292,999,055 | 292,855,969 | 292,944,732 | 294,055,525 | ||||||||||||||||||||||||||||
Basic earnings per share | € | 0.78 | € | 0.61 | 29.0 | % | 22.9 | % | € | 3.31 | € | 3.96 | -16.4 | % | -14.1 | % | ||||||||||||||||
Basic earnings per ADS | € | 0.39 | € | 0.30 | 29.0 | % | 22.9 | % | € | 1.65 | € | 1.98 | -16.4 | % | -14.1 | % |
Statement of earnings | page 2 of 10 | February 22, 2022 |
Segment information
Three months ended December 31, | Twelve months ended December 31, | |||||||||||||||||||||||||||||||
2021 | 2020 | Change | Change at cc | 2021 | 2020 | Change | Change at cc | |||||||||||||||||||||||||
Total | ||||||||||||||||||||||||||||||||
Revenue in € million | 4,647 | 4,400 | 5.6 | % | 2.5 | % | 17,619 | 17,859 | -1.3 | % | 1.8 | % | ||||||||||||||||||||
Operating income in € million | 449 | 462 | -2.7 | % | -6.9 | % | 1,852 | 2,304 | -19.6 | % | -17.2 | % | ||||||||||||||||||||
Operating income margin | 9.7 | % | 0 | 10.5 | % | 12.9 | % | |||||||||||||||||||||||||
Days sales outstanding (DSO) | 62 | 50 | ||||||||||||||||||||||||||||||
Employees (full-time equivalents) | 122,909 | 125,364 | ||||||||||||||||||||||||||||||
North America | ||||||||||||||||||||||||||||||||
Revenue in € million | 3,156 | 2,983 | 5.8 | % | 1.2 | % | 12,088 | 12,478 | -3.1 | % | 0.3 | % | ||||||||||||||||||||
Operating income in € million | 402 | 533 | -24.5 | % | -28.5 | % | 1,644 | 2,120 | -22.4 | % | -19.8 | % | ||||||||||||||||||||
Operating income margin | 12.7 | % | 17.9 | % | 13.6 | % | 17.0 | % | ||||||||||||||||||||||||
Days sales outstanding (DSO) | 44 | 26 | ||||||||||||||||||||||||||||||
EMEA | ||||||||||||||||||||||||||||||||
Revenue in € million | 732 | 715 | 2.4 | % | 2.2 | % | 2,765 | 2,763 | 0.1 | % | 1.0 | % | ||||||||||||||||||||
Operating income in € million | 77 | 134 | -42.1 | % | -41.7 | % | 309 | 412 | -24.9 | % | -24.5 | % | ||||||||||||||||||||
Operating income margin | 10.6 | % | 18.7 | % | 11.2 | % | 14.9 | % | ||||||||||||||||||||||||
Days sales outstanding (DSO) | 88 | 90 | ||||||||||||||||||||||||||||||
Asia-Pacific | ||||||||||||||||||||||||||||||||
Revenue in € million | 552 | 517 | 6.7 | % | 4.6 | % | 2,010 | 1,894 | 6.1 | % | 6.9 | % | ||||||||||||||||||||
Operating income in € million | 94 | 107 | -12.0 | % | -12.1 | % | 350 | 344 | 1.7 | % | 3.4 | % | ||||||||||||||||||||
Operating income margin | 17.0 | % | 20.6 | % | 17.4 | % | 18.1 | % | ||||||||||||||||||||||||
Days sales outstanding (DSO) | 103 | 110 | ||||||||||||||||||||||||||||||
Latin America | ||||||||||||||||||||||||||||||||
Revenue in € million | 195 | 177 | 10.5 | % | 17.4 | % | 703 | 684 | 2.7 | % | 16.0 | % | ||||||||||||||||||||
Operating income in € million | (2 | ) | (186 | ) | -99.1 | % | -99.0 | % | 12 | (157 | ) | n.a. | n.a. | |||||||||||||||||||
Operating income margin | -0.8 | % | -105.0 | % | 1.7 | % | -22.9 | % | ||||||||||||||||||||||||
Days sales outstanding (DSO) | 130 | 134 | ||||||||||||||||||||||||||||||
Corporate | ||||||||||||||||||||||||||||||||
Revenue in € million | 12 | 8 | 44.0 | % | 38.0 | % | 53 | 40 | 34.9 | % | 38.1 | % | ||||||||||||||||||||
Operating income in € million | (122 | ) | (126 | ) | -2.8 | % | -4.3 | % | (463 | ) | (415 | ) | 11.7 | % | 13.6 | % |
cc = constant currency. Changes in revenue, operating income, net income attributable to shareholders of FMC-AG & Co. KGaA and other items include the impact of changes in foreign currency exchange rates. We calculate these non-IFRS financial measures at constant exchange rates to show changes in our revenue, operating income, net income attributable to shareholders of FMC-AG & Co. KGaA and other items without giving effect to period-to-period currency fluctuations. Under IFRS, amounts received in local (non-euro) currency are translated into euro at the average exchange rate for the period presented. Once we translate the local currency for the constant currency, we then calculate the change, as a percentage, of the current period using the prior period exchange rates versus the prior period. The single quarter results are calculated as the variance between the current year-to-date results less the preceding quarter’s year-to-date which makes the single quarter subject to further foreign exchange fluctuation. This resulting percentage is a non-IFRS measure referring to a change as a percentage at constant currency. These currency-adjusted financial measures are identifiable by the designated term "Constant Currency".
Segment information | page 3 of 10 | February 22, 2022 |
Balance sheet
December 31 | December 31 | |||||||
in € million, except for net leverage ratio | 2021 | 2020 | ||||||
Assets | ||||||||
Current assets | 7,967 | 7,275 | ||||||
Goodwill and intangible assets | 15,821 | 14,340 | ||||||
Right of use assets | 4,316 | 4,130 | ||||||
Other non-current assets | 6,263 | 5,944 | ||||||
Total assets | 34,367 | 31,689 | ||||||
Liabilities and equity | ||||||||
Current liabilities | 7,258 | 6,056 | ||||||
Non-current liabilities | 13,130 | 13,302 | ||||||
Total equity | 13,979 | 12,331 | ||||||
Total liabilities and equity | 34,367 | 31,689 | ||||||
Equity/assets ratio | 41 | % | 39 | % | ||||
Debt and lease liabilities | ||||||||
Short-term debt from unrelated parties | 1,178 | 63 | ||||||
Short-term debt from related parties | 78 | 17 | ||||||
Current portion of long-term debt | 668 | 1,008 | ||||||
Current portion of lease liabilities from unrelated parties | 640 | 588 | ||||||
Current portion of lease liabilities from related parties | 21 | 21 | ||||||
Long-term debt, less current portion | 6,647 | 6,800 | ||||||
Lease liabilities from unrelated parties, less current portion | 3,990 | 3,764 | ||||||
Lease liabilities from related parties, less current portion | 98 | 119 | ||||||
Total debt and lease liabilities | 13,320 | 12,380 | ||||||
Minus: Cash and cash equivalents | (1,482 | ) | (1,082 | ) | ||||
Total net debt and lease liabilities | 11,838 | 11,298 | ||||||
Reconciliation of adjusted EBITDA and net leverage ratio to the most directly comparable IFRS financial measures | ||||||||
Net income | 1,219 | 1,435 | ||||||
Income tax expense | 353 | 501 | ||||||
Interest income | (73 | ) | (42 | ) | ||||
Interest expense | 353 | 410 | ||||||
Depreciation and amortization | 1,586 | 1,587 | ||||||
Adjustments1 | 125 | 249 | ||||||
Adjusted EBITDA | 3,563 | 4,140 | ||||||
Net leverage ratio | 3.3 | 2.7 |
1 Acquisitions and divestitures made for the last twelve months with a purchase price above a €50 M threshold as defined in the Syndicated Credit Facility (2021: €13 M), non-cash charges, primarily related to pension expense (2021: €49 M; 2020: €50 M), impairment loss (2021: €38 M; 2020: €199 M) and costs related to the FME25 Program (2021: €25 M).
Balance sheet | page 4 of 10 | February 22, 2022 |
Cash flow statement
Three months ended December 31, | Twelve months ended December 31, | |||||||||||||||
in € million | 2021 | 2020 | 2021 | 2020 | ||||||||||||
Operating activities | ||||||||||||||||
Net income | 303 | 239 | 1,219 | 1,435 | ||||||||||||
Depreciation / amortization / impairment loss | 437 | 581 | 1,624 | 1,786 | ||||||||||||
Change in working capital and other non-cash items | (71 | ) | (236 | ) | (354 | ) | 1,012 | |||||||||
Net cash provided by (used in) operating activities | 669 | 584 | 2,489 | 4,233 | ||||||||||||
In percent of revenue | 14.4 | % | 13.3 | % | 14.1 | % | 23.7 | % | ||||||||
Investing activities | ||||||||||||||||
Purchases of property, plant and equipment and capitalized development costs | (266 | ) | (306 | ) | (854 | ) | (1,052 | ) | ||||||||
Proceeds from sale of property, plant and equipment | (3 | ) | 5 | 25 | 16 | |||||||||||
Capital expenditures, net | (269 | ) | (301 | ) | (829 | ) | (1,036 | ) | ||||||||
Free cash flow | 400 | 283 | 1,660 | 3,197 | ||||||||||||
In percent of revenue | 8.6 | % | 6.4 | % | 9.4 | % | 17.9 | % | ||||||||
Acquisitions and investments, net of cash acquired, and purchases of intangible assets | (164 | ) | (104 | ) | (434 | ) | (259 | ) | ||||||||
Investments in debt securities | (66 | ) | (66 | ) | (129 | ) | (96 | ) | ||||||||
Proceeds from divestitures | 50 | 2 | 52 | 14 | ||||||||||||
Proceeds from sale of debt securities | 26 | 15 | 144 | 42 | ||||||||||||
Free cash flow after investing activities | 246 | 130 | 1,293 | 2,898 |
Cash flow | page 5 of 10 | February 22, 2022 |
Revenue development
Same market | ||||||||||||||||||
Change | Organic | treatment | ||||||||||||||||
in € million | 2021 | 2020 | Change | at cc | growth | growth1 | ||||||||||||
Three months ended December 31, | ||||||||||||||||||
Total revenue | 4,647 | 4,400 | 5.6 | % | 2.5 | % | 1.8 | % | ||||||||||
Health Care Services | 3,621 | 3,406 | 6.3 | % | 2.9 | % | 2.0 | % | -1.9 | % | ||||||||
Health Care Products | 1,026 | 994 | 3.3 | % | 1.2 | % | 1.4 | % | ||||||||||
North America | 3,156 | 2,983 | 5.8 | % | 1.2 | % | 0.4 | % | ||||||||||
Health Care Services | 2,872 | 2,704 | 6.2 | % | 1.6 | % | 0.6 | % | -2.4 | %2 | ||||||||
Health Care Products | 284 | 279 | 2.0 | % | -2.2 | % | -2.0 | % | ||||||||||
EMEA | 732 | 715 | 2.4 | % | 2.2 | % | 1.9 | % | ||||||||||
Health Care Services | 359 | 337 | 6.5 | % | 5.8 | % | 5.2 | % | -2.1 | % | ||||||||
Health Care Products | 373 | 378 | -1.3 | % | -1.0 | % | -0.9 | % | ||||||||||
Asia-Pacific | 552 | 517 | 6.7 | % | 4.6 | % | 3.9 | % | ||||||||||
Health Care Services | 248 | 235 | 5.3 | % | 5.3 | % | 3.6 | % | 2.8 | % | ||||||||
Health Care Products | 304 | 282 | 7.8 | % | 4.0 | % | 4.1 | % | ||||||||||
Latin America | 195 | 177 | 10.5 | % | 17.4 | % | 19.5 | % | ||||||||||
Health Care Services | 135 | 125 | 8.3 | % | 17.1 | % | 20.3 | % | -1.5 | % | ||||||||
Health Care Products | 60 | 52 | 15.6 | % | 18.1 | % | 17.9 | % | ||||||||||
Corporate | 12 | 8 | 44.0 | % | 38.0 | % | ||||||||||||
Health Care Services | 7 | 5 | 41.3 | % | 31.9 | % | ||||||||||||
Health Care Products | 5 | 3 | 49.0 | % | 48.9 | % | ||||||||||||
Twelve months ended December 31, | ||||||||||||||||||
Total revenue | 17,619 | 17,859 | -1.3 | % | 1.8 | % | 1.4 | % | ||||||||||
Health Care Services | 13,876 | 14,114 | -1.7 | % | 1.9 | % | 1.3 | % | -1.9 | % | ||||||||
Health Care Products | 3,743 | 3,745 | -0.1 | % | 1.6 | % | 1.7 | % | ||||||||||
North America | 12,088 | 12,478 | -3.1 | % | 0.3 | % | -0.2 | % | ||||||||||
Health Care Services | 11,020 | 11,364 | -3.0 | % | 0.4 | % | -0.1 | % | -2.1 | %2 | ||||||||
Health Care Products | 1,068 | 1,114 | -4.2 | % | -0.8 | % | -0.7 | % | ||||||||||
EMEA | 2,765 | 2,763 | 0.1 | % | 1.0 | % | 0.9 | % | ||||||||||
Health Care Services | 1,379 | 1,365 | 1.0 | % | 2.0 | % | 1.4 | % | -3.2 | % | ||||||||
Health Care Products | 1,386 | 1,398 | -0.9 | % | 0.1 | % | 0.3 | % | ||||||||||
Asia-Pacific | 2,010 | 1,894 | 6.1 | % | 6.9 | % | 6.6 | % | ||||||||||
Health Care Services | 942 | 876 | 7.5 | % | 10.1 | % | 9.4 | % | 4.8 | % | ||||||||
Health Care Products | 1,068 | 1,018 | 4.9 | % | 4.2 | % | 4.3 | % | ||||||||||
Latin America | 703 | 684 | 2.7 | % | 16.0 | % | 15.3 | % | ||||||||||
Health Care Services | 499 | 485 | 2.9 | % | 18.2 | % | 17.2 | % | -1.1 | % | ||||||||
Health Care Products | 204 | 199 | 2.2 | % | 10.7 | % | 10.9 | % | ||||||||||
Corporate | 53 | 40 | 34.9 | % | 38.1 | % | ||||||||||||
Health Care Services | 36 | 24 | 50.1 | % | 55.2 | % | ||||||||||||
Health Care Products | 17 | 16 | 10.6 | % | 10.7 | % |
1 Same market treatment growth = organic growth less price effects.
2 U.S. (excl. Mexico), same market treatment growth North America: -2.5% for the three and the twelve months ended December 31, 2021.
Revenue development | page 6 of 10 | February 22, 2022 |
Key metrics Dialysis Care Services
Twelve months ended December 31, 2021 | ||||||||||||||||||||||||||||
Growth | Growth | Growth | ||||||||||||||||||||||||||
Clinics | in % | De novos | Patients | in % | Treatments | in % | ||||||||||||||||||||||
Total | 4,171 | 2 | % | 74 | 345,425 | 0 | % | 52,871,887 | -1 | % | ||||||||||||||||||
North America | 2,695 | 2 | % | 33 | 209,291 | 0 | % | 32,334,280 | -2 | % | ||||||||||||||||||
EMEA | 821 | 2 | % | 19 | 65,599 | -1 | % | 9,885,319 | -3 | % | ||||||||||||||||||
Asia-Pacific | 405 | 1 | % | 16 | 33,760 | 2 | % | 4,766,472 | 2 | % | ||||||||||||||||||
Latin America | 250 | 0 | % | 6 | 36,775 | -1 | % | 5,885,816 | 0 | % |
Key metrics | page 7 of 10 | February 22, 2022 |
Quality data1
North America | EMEA | Latin America | Asia-Pacific | |||||||||||||||||||||
in % of patients | Q4 2021 | Q4 2020 | Q4 2021 | Q4 2020 | Q4 2021 | Q4 2020 | Q4 2021 | Q4 2020 | ||||||||||||||||
Kt/V ≥ 1.2 | 97 | 97 | 93 | 93 | 93 | 91 | 94 | 94 | ||||||||||||||||
Hemoglobin = 10-12 g/dl | 72 | 71 | 82 | 82 | 49 | 48 | 51 | 52 | ||||||||||||||||
Calcium = 8.4-10.2 mg/dl | 84 | 81 | 81 | 78 | 76 | 73 | 70 | 72 | ||||||||||||||||
Albumin ≥ 3.5 g/dl | 83 | 80 | 89 | 90 | 90 | 89 | 88 | 91 | ||||||||||||||||
Phosphate ≤ 5.5 mg/dl | 56 | 59 | 79 | 80 | 75 | 76 | 67 | 64 | ||||||||||||||||
Patients without catheter (after 90 days) | 78 | 79 | 76 | 77 | 78 | 78 | 80 | 81 | ||||||||||||||||
in days | ||||||||||||||||||||||||
Days in hospital per patient year | 10.0 | 9.7 | 7.5 | 7.7 | 4.0 | 4.0 | 4.0 | 3.5 |
1 Definitions cf. Annual Report 2021, Section "Non-Financial Group Report"
Quality data | page 8 of 10 | February 22, 2022 |
Reconciliation of non-IFRS financial measures to the most directly comparable IFRS financial measures
Results excl. special items | ||||||||||||||||||||||||||||||||
Results 2021 | Results 2020 | |||||||||||||||||||||||||||||||
Results | FME25 | excl. special | Results | Impairment | excl. special | |||||||||||||||||||||||||||
in € million, except share data | 2021 | Program | items | 2020 | Charge1 | items | Change | Change at cc | ||||||||||||||||||||||||
Three months ended December 31, | ||||||||||||||||||||||||||||||||
Total revenue | 4,647 | 4,647 | 4,400 | 4,400 | 5.6 | % | 2.5 | % | ||||||||||||||||||||||||
EBITDA | 886 | 5 | 891 | 1,043 | 1,043 | -14.6 | % | -17.6 | % | |||||||||||||||||||||||
Total operating income | 449 | 43 | 492 | 462 | 195 | 657 | -25.0 | % | -27.8 | % | ||||||||||||||||||||||
North America | 402 | 23 | 425 | 533 | 533 | -20.2 | % | -24.1 | % | |||||||||||||||||||||||
EMEA | 77 | 13 | 90 | 134 | 134 | -32.4 | % | -31.8 | % | |||||||||||||||||||||||
Asia-Pacific | 94 | 94 | 107 | 107 | -12.0 | % | -12.1 | % | ||||||||||||||||||||||||
Latin America | (2 | ) | (2 | ) | (186 | ) | 195 | 9 | n.a | n.a | ||||||||||||||||||||||
Corporate | (122 | ) | 7 | (115 | ) | (126 | ) | (126 | ) | -8.0 | % | -9.6 | % | |||||||||||||||||||
Interest expense, net | 67 | 67 | 84 | 84 | -20.7 | % | -24.1 | % | ||||||||||||||||||||||||
Income tax expense | 79 | 9 | 88 | 139 | 139 | -37.2 | % | -39.5 | % | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | 74 | 74 | 62 | 62 | 21.7 | % | 18.4 | % | ||||||||||||||||||||||||
Net income2 | 229 | 34 | 263 | 177 | 195 | 372 | -29.2 | % | -31.9 | % | ||||||||||||||||||||||
Basic earnings per share | € | 0.78 | € | 0.12 | € | 0.90 | € | 0.61 | € | 0.66 | € | 1.27 | -29.3 | % | -32.0 | % | ||||||||||||||||
Twelve months ended December 31, | ||||||||||||||||||||||||||||||||
Total revenue | 17,619 | 17,619 | 17,859 | 17,859 | -1.3 | % | 1.8 | % | ||||||||||||||||||||||||
EBITDA | 3,476 | 25 | 3,501 | 4,090 | 4,090 | -14.4 | % | -11.9 | % | |||||||||||||||||||||||
Total operating income | 1,852 | 63 | 1,915 | 2,304 | 195 | 2,499 | -23.4 | % | -21.1 | % | ||||||||||||||||||||||
North America | 1,644 | 29 | 1,673 | 2,120 | 2,120 | -21.1 | % | -18.3 | % | |||||||||||||||||||||||
EMEA | 309 | 13 | 322 | 412 | 412 | -21.7 | % | -21.3 | % | |||||||||||||||||||||||
Asia-Pacific | 350 | 350 | 344 | 344 | 1.7 | % | 3.4 | % | ||||||||||||||||||||||||
Latin America | 12 | 12 | (157 | ) | 195 | 38 | -68.5 | % | -69.9 | % | ||||||||||||||||||||||
Corporate | (463 | ) | 21 | (442 | ) | (415 | ) | (415 | ) | 6.8 | % | 8.6 | % | |||||||||||||||||||
Interest expense, net | 280 | 280 | 368 | 368 | -23.8 | % | -21.6 | % | ||||||||||||||||||||||||
Income tax expense | 353 | 14 | 367 | 501 | 501 | -26.7 | % | -24.5 | % | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | 250 | 250 | 271 | 271 | -8.0 | % | -4.7 | % | ||||||||||||||||||||||||
Net income2 | 969 | 49 | 1,018 | 1,164 | 195 | 1,359 | -25.1 | % | -23.0 | % | ||||||||||||||||||||||
Basic earnings per share | € | 3.31 | € | 0.17 | € | 3.48 | € | 3.96 | € | 0.66 | € | 4.62 | -24.8 | % | -22.7 | % |
1 Impairment of goodwill and trade names in the Latin America Segment
2 Attributable to shareholders of FMC-AG & Co. KGaA
Reconciliation results excl. special items | page 9 of 10 | February 22, 2022 |
Outlook 2022
Outlook 2022 | ||||||
Results 2021 | (at Constant Currency, except for ROIC) | |||||
Revenue1 | € | 17,619 M | growth: low-to-mid-single-digit percentage rate | |||
Revenue growth at Constant Currency1 | growth: low-to-mid-single-digit percentage rate | |||||
Operating income1 | € | 1,915 M | growth: low-to-mid-single-digit percentage rate | |||
Net income1, 2 | € | 1,018 M | growth: low-to-mid-single-digit percentage rate | |||
Net income2 growth at Constant Currency1 | growth: low-to-mid-single-digit percentage rate | |||||
ROIC1 | 5.1 | % | ≥ 5.0% |
1 Outlook 2022 is based on the assumptions outlined in the press release for the fiscal year and fourth quarter of 2021 and excludes special items. Special items include further costs related to the FME25 program and other effects that are unusual in nature and have not been foreseeable or not foreseeable in size or impact at the time of giving guidance. The growth rates are based on the results 2021 excluding the costs related to the FME25 program (€63 M for operating income and €49 M for net income).
2 Net income attributable to shareholders of FMC-AG & Co. KGaA.
Outlook 2022 | page 10 of 10 | February 22, 2022 |