1 Targets 2017 exclude the effects of the agreement with the United States Departments of Veterans Affairs and Justice.
2 Results 2016 revenue prepared in accordance with U.S. GAAP is recorded net of patient service bad debt provision.
3 Net income attributable to shareholders of FMC AG & Co. KGaA.
4 Full-time equivalents.
At the end of 2016, around 3 million patients received dialysis. According to estimates, the number of people worldwide suffering from chronic kidney failure and requiring dialysis treatment is increasing at a relatively constant annual rate of around 6 %. It is expected to reach more than 3.2 million patients in 2017 and around 3.7 million by 2020. Social trends contribute to this rise in patient numbers. They include the aging population and the increasing incidence of diabetes and hypertension, two illnesses that frequently precede the onset of end-stage renal disease. In addition, the growing population and gradually improved access to dialysis are key factors that further boost demand for dialysis products and services. We want to continue to make a significant contribution to meeting this demand in the future.
Based on our strategic objectives, we set ourselves new long-term targets in 2014 with our growth strategy 2020. The aim is to increase Fresenius Medical Care’s revenue to $ 28 billion by 2020, corresponding to an average annual growth rate of around 10 %.
In accordance with IFRS in euro, this revenue goal would be € 21 billion by fiscal year 2020 utilizing the currency exchange rates at the time our growth strategy was presented in April 2014. At currency rates prevailing at the beginning of 2017, this represents revenue of € 24 billion in 2020. This increase in revenue should stem from both organic growth and acquisitions.
At the same time, we expect high single-digit annual growth in net income. In addition to our ongoing strong performance in our core business with dialysis products and treatment for dialysis patients, we intend to achieve these targets by expanding Care Coordination.