FAQ

How was Fresenius business performance in 2025?

• Over the course of the year Fresenius increased its consolidated revenue guidance once and its consolidated earnings guidance once, despite the continuing volatility of the overall economic environment: twice upgraded guidance delivered.

• Group revenue¹ at €22,554 million with organic growth of 7%^1,2 reflecting the consistent execution across Fresenius Kabi and Fresenius Helios.

• Group EBIT¹ at €2,595 million with 6%³ growth in constant currency driven in particular by Fresenius Kabi’s Growth Vectors and the strong performance of Fresenius Helios in Spain; Group EBIT margin¹ at 11.5% despite significant headwinds.

• Core EPS^1,4 increased by 12%³ in constant currency to €2.87 based on strong operating results and significantly decreased interest expense.

1 Before special items

2 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation

3 Growth rate adjusted for Argentina hyperinflation

4 Excluding Fresenius Medical Care

Why is Fresenius guiding on EPS now?

• We have structurally strengthened Fresenius’ earnings base and have become a much more mature organization.

• Therefore, we believe this is the right point in time to move from an EBIT growth to a Core EPS growth guidance. In doing so, we demonstrate our commitment to driving shareholder value and facilitate comparability for market participants.

What is #FutureFresenius and what does Rejuvenate mean?

• Over the past three years, we have successfully implemented our #FutureFresenius strategy and created a new Fresenius that is innovative, relevant, resilient, and adaptable.

• From the outset, we defined a clear roadmap with four phases: Reset, Revitalize, Rejuvenate and Reimagine. #FutureFresenius is not just another transformation – it is a multi-year strategy!

• In 2025, we launched the next phase of our strategy with strong momentum: Rejuvenate.

• Three priorities define the Rejuvenate phase:

  • Upgrading our core: Upgrade core describes the necessary individual further development of our business units, functions, and Group operating model in the current business environment. We continue the measures initiated under Revitalize – and do them even better.

  • Scaling our platforms: Scale platforms is the core element of our medium-to-long-term strategy – the development of our (Bio)Pharma, MedTech, and Care Provision platforms in terms of their relevance for the healthcare ecosystem of the future. Each platform is “scaled” by its own means – whereby scale is not just about size, but particularly about relevant advances to each platform and the ecosystem as a whole.

  • Further elevating our performance : Through upgrading our core and scaling our platforms, we are elevating our performance and impact. Our strategy is poised to move Fresenius to higher growth market segments and hence support value creation, as we address new profit pools previously untapped. While predominantly organically driven, our growth strategy will also seek to use further opportunities resulting from our ecosystem approach of partnering, licensing, and potentially acquiring products and services that complement our growing product portfolio.

• Ultimately, Rejuvenate is about bringing new products and innovations to market, staying closely aligned with patient needs and creating long-term value across the healthcare ecosystem.

What risks and opportunities shape Fresenius market environment?

• In fiscal year 2025, Fresenius continued to operate in a volatile macroeconomic environment. While inflation-driven increases in material costs lost significant momentum, labor shortages and persistently high wage growth remained relevant, although signs of normalization were also apparent here. Furthermore, tariffs, the tender business in China, and exchange rate effects had a negative impact on business development. Further, the structural growth drivers in the non-cyclical healthcare markets are still in place.

• Opportunities: The healthcare sector is one of the world’s largest industries and we are convinced that it demonstrates excellent growth opportunities.

• As a system-critical healthcare company, Fresenius benefits from strong global trends: rising healthcare spending, increasing chronic diseases and the growing need for efficient, affordable and innovative solutions.

Which legal frameworks and reporting standards form the basis of the 2025 Sustainability Report?

The report was prepared in accordance with the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive (CSRD), and fulfills the non-financial reporting requirements under Sections 315b–315c in conjunction with Sections 289c–289e of the German Commercial Code (HGB), and incorporates the requirements of the EU Taxonomy Regulation (EU) 2020/852.

How is the governance structure for sustainability organized?

We illustrate in standard ESRS 2 the sustainability governance at Fresenius Group. The central function Group Sustainability cooperates with Group and segment functions, defines sustainability-related performance indicators, which are integrated into incentive schemes, and establishes internal controls and risk management systems that support sustainability reporting.

What material impacts, risks, and opportunities have been identified, and how are they linked to strategy and the business model?

The Sustainability Statement describes in ESRS 2 the process used to identify and assess material sustainability impacts, risks, and opportunities, and explains their connection to the company’s overall strategy and business model, including along the value chain.

A list of all identified impacts, risks, and opportunities along the value chain is available and illustrated within the report.

What are ESG targets of Fresenius Group?

The ESG-targets of Fresenius Group are listed in standard ESRS 2 and referred to in the respective standards. Fresenius has defined targets regarding the following aspects:

• Medical Quality

  • Audit & Inspection Score (Fresenius Kabi)

  • Inpatient Quality Indicators (Fresenius Helios)

    • Germany

    • Spain

• Employee Engagement Index (EEI) (Fresenius Group)

• Total Scope 1 and 2 CO₂-emissions (market-based approach) in t CO₂-equivalents (Fresenius Group)

• Reduction of process water withdrawal of production facilities in areas of water stress (Fresenius Kabi)

• Increasing the average training rate of employees (Fresenius Group)