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We continue to shape the future of the dialysis industry.

Outlook 2022

  Results 2021 (€ M) Outlook 2022
Revenue1 17,619  Constant currency growth at low-single digit percentage rate
Net income1,2 1,0183 Constant currency decline at high-teens to mid-twenties percentage rate


1 Guidance 2022 is exclusive of special items. Special items include costs related to FME25, the Ukraine war, hyperinflation accounting in Turkiye, the Humacyte investment remeasurement, the net gain related to InterWell Health 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. These items are excluded to ensure comparability of the figures presented with the Company’s financial targets which have been defined excluding special items.
2 Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA
2021 basis excludes costs related to the FME25 Program (€49 M for net income).

FY 2022 Guidance is subject to the following assumptions:

  • Macro-economic inflation and supply chain costs of around EUR 230 M
  • COVID-19: Impact of accumulated excess mortality of around EUR 100 M
  • U.S. labor costs are expected to be around EUR 100 M net of support from U.S. Provider Relief Fund in excess of the 3% base wage inflation assumption
  • U.S. ballot initiative expense of EUR 20 to 30 M
  • Business growth of EUR 20 M
  • Personal protective equipment cost reduction to be around EUR 20 M
  • FME25 savings of EUR 40 to 70 M
  • Remeasurement effects on the fair value of investments are expected to be volatile but neutral on a full year basis; for guidance relevant comparison, the Humacyte investment remeasurement is treated as special item
  • No meaningful further impact from natural gas shortages or suspension of gas supply to affect manufacturing sites


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