Hikes FY guidance (Il Sole 24 Ore Radiocor) - Berlin, 08 May - The German healthcare group Fresenius said that in the first quarter earnings per share before special items increased by 10% to 0.76 euros and reported EPS fell to 0.49 euros from 0.61 euros.

Revenue increased 4% to 5.704 billion euros. Organic growth was 6%.

EBITDA before special items increased 13% to 924 million euros.

Free cash flow after acquisitions, dividends and lease liabilities improved to a negative 103 million euros from a negative 258 million.

Group debt decreased to 14.504 billion euros at the end of March from 15.830 billion at the end of 2023.

The net debt/EBITDA ratio slipped to 3.75 times from 3.76 and is expected to be within a 3.0-3.5 range by the end of 2024, it added.

Fresenius said that it has raises its full-year outlook based on "the excellent first quarter and improved prospects for the remainder of the year." For 2024, organic revenue is now expected to grow between 4-7%, against a previous guidance of 3-6%). Constant currency EBIT is now expected to grow 6-10% compared with a previous forecast of 4-8%, it added.

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(RADIOCOR) 08-05-24 12:19:28 (0348) 5 NNNN