RTTNews | Jul 30, 2021 01:55AM EDT

01:55 Friday, July 30, 2021 (RTTNews.com) - Fresenius Medical Care AG & Co. KGaA (FMS) reported that its second-quarter net income decreased 38% year-over-year to 219 million euros or 0.75 euros per basic share. Quarterly net income was down 33% at constant currency.

Net income, excluding special items, declined by 37% to 223 million euros from the prior year.

Revenue for the second quarter decreased by 5% to 4.32 billion euros, while it was up 2% at constant currency, up 1% at organic basis.

The company confirmed its outlook for fiscal year 2021. It expects revenue to grow at a low- to mid-single digit percentage rate and net income to decline at a high-teens to mid-twenties percentage rate against the 2020 base. This outlook is based on the assumption of a return to normalized mortality rates in the second half of 2021.

Fresenius Medical Care has initiated the FME25 program to support its 2025 strategy, further strengthen profitability and compensate for the negative earnings effects of the COVID-19 pandemic.

The company reconfirmed its targets and is on track with its work regarding the operating model transformation and efficiency measures. It will provide an update in the fall.

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