BERLIN, Feb. 20 (Xinhua) -- Turnover of Fresenius increased by 2 percent to a total of 33.50 billion euros (38 billion U.S. dollars) and the German healthcare giant achieved its financial targets for the fiscal year 2018, it announced on Wednesday.
Operating profits (EBIT) of Fresenius decreased by 4 percent to 4.56 billion euros while net profits increased by 4 percent to 1.87 billion euros.
"2018 was not an easy year, and yet it was another successful one for Fresenius," said Stephan Sturm, chief executive officer (CEO) of Fresenius.
Sales of Fresenius' hospital segment Helios grew by only two percent due to a decline in patient numbers, high fluctuation among physicians and a shortage of nursing staff, according to Fresenius.
Fresenius forecast net income to stagnate for the fiscal year 2019 and further specified an earlier sales forecast -- now anticipating currency adjusted sales to grow by 3 to 6 percent in 2019.
"2019 will be a year of investment in growth areas such as home dialysis, biosimilars and new hospital services and therapies," said Sturm.
Following a profit warning in October 2018, Fresenius subsidiary Fresenius Medical Care (FMC) reported 7 percent lower sales of 16.55 billion euros for the full fiscal year 2018. The profit of FMC, which is specialized on dialysis products and services, rose by 2 percent to 1.19 billion euros. Both Fresenius and Fresenius Medical Care are among Germany's 30 largest companies listed in the German stock index DAX.
Among other things, FMC suffered from weaker business in the United States as well as negative currency effects. In 2019, FMC expects a "healthy sales growth" between 3 and 7 percent and profits ranging from minus 2 percent to 2 percent.
FMC also announced Wednesday plans to buy back shares worth up to one billion euros within the next two years.
