Fresenius’ updated guidance generated a lot of confusion as the text deviated somewhat from the presentation and needed some careful reading. The most interesting piece of information was the mental separation of FMC from the group in the guidance. In today’s call, management tried to dispel the idea of separating FMC from Fresenius.
Due to FMC’s quite weakish performance, Fresenius suffered at the profitability level but came in a notch better than expected. Consensus was not meet.
