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We continue to shape the future of the dialysis industry.

Outlook 2022

  Results 2021 Outlook 2022 (in constant currency)
Revenue €17,619 M Low to mid-single-digit percentage growth rate
Net income1 (before special items2) €1,018 M Low to mid-single-digit percentage growth rate


These targets are based on the following assumptions:

  • COVID-19
    • accumulated excess mortality to impact operating income by EUR 100 million compared to the level of 2021
    • staff shortages are anticipated not to cause significant disruptions in production, distribution and dialysis operations
  • Macro-economic inflation and supply chain costs to impact operating income by EUR 50 million
  • Labor costs for 2022 are expected to be around EUR 100 million in excess of the 3% base wage inflation assumption
  • Any potential further government support is assumed to be applied to manage the unprecedented labor market situation if costs exceed the above labor costs assumption
  • FME25 savings are expected to contribute EUR 40 to 70 million to operating income
  • Remeasurement effects on the fair value of investments are expected to be volatile but neutral on a full year basis


Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA
These targets are based on the 2021 results excluding the costs related to FME25 of EUR 49 million (for Net Income). They are based on the outlined assumptions, in constant currency and exclude special items. Special items include further costs related to FME25 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.

Mid-term guidance 2020-2025

Based on current projections, Fresenius Medical Care confirms its mid-term targets that are based on the Company’s mid-term strategy. Until 2025 the Company expects compounded annual average increases in the mid-single-digit percentage range for revenue and in the high-single-digit percentage range for net income. Fresenius Medical Care expects FME25 savings to mitigate the ongoing negative effects of COVID-19.

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