BAD HOMBURG, Germany—Fresenius Medical Care’s profit grew 10 percent in the fourth quarter of 2010, and the dialysis provider said it expected its revenues to increase 6 percent to 8 percent in 2011.
Fresenius’ overall net revenue in the 2010 fourth quarter increased 4 percent from 2009 to $3.2 billion. Dialysis services revenue grew by 6 percent to $2.4 billion, and dialysis product revenue increased from $809 million in the fourth quarter of 2009 to $813 million in the fourth quarter of 2010. Net revenue for the full year 2010 was $12.1 billion, up 7 percent from the full year 2009.
The company’s fourth quarter profit in 2010 was $271 million, an increase of 10 percent compared to the corresponding quarter of 2009. For the full year 2010, net income was $979 million, up 10 percent from 2009.
For 2011, Fresenius expects revenue to grow to between $12.8 billion and $13 billion, corresponding to a growth rate of 6 percent to 8 percent. Net income is expected to be between $1.035 billion and $1.055 billion.
In addition, in 2011, the company expects to spend around 5 percent of revenue on capital expenditures and approximately $1.2 billion on acquisitions.
The dialysis provider’s North American revenue increased by 3 percent to $2.1 billion. Dialysis services revenue grew by 3 percent to $1.9 billion. However, average revenue per treatment for U.S. clinics decreased to $355 in the fourth quarter of 2010 compared to $357 for the corresponding quarter in 2009. In addition, dialysis product revenue decreased by 1 percent to $210 million. Fresenius said its performance was impacted favorably by higher sales of machines and bloodlines. This was mainly offset by changes in the dialysis products mix and lower Medicare average selling prices for the intravenous iron product Venofer.
As of Dec. 31, 2010, Fresenius Medical Care treated 214,648 patients worldwide, which represents a 10 percent increase compared to the previous year. In North America, Fresenius provided dialysis treatments for 137,689 patients, an increase of 4 percent. Including 30 clinics managed by Fresenius Medical Care North America, the number of patients in North America was 139,327. The International segment served 76,959 patients, an increase of 21 percent over the prior year.
By the end of 2010, Fresenius operated a total of 2,757 clinics worldwide, an 8 percent increase compared to the previous year’s figure. The number of clinics is comprised of 1,823 clinics in North America (1,853 including managed clinics) and 934 clinics in the International segment, representing an increase of 2 percent and 21 percent, respectively.
During the year 2010, Fresenius Medical Care delivered approximately 31.67 million dialysis treatments worldwide. This represents an increase of 8 percent compared to last year. North America accounted for 20.85 million treatments, an increase of 5 percent; the International segment delivered 10.82 million treatments, an increase of 13 percent.
