Fresenius Targets Faster Earnings Growth After More Cost Cuts [BNN Bloomberg (Canada)]
FRESENIUS SE S/ADR (FSNUY)
NASDAQ:AMEX Investor Relations:
fresenius.com/index
Company Research
Source: BNN Bloomberg
Earnings will probably grow as much as 8% before interest and taxes in 2024 as the German health company doubles down on efficiency measures and looks to pay down debt, according to a statement Wednesday. Fresenius exceeded its own targets with cost-cutting measures last year and is now raising its efficiency goals, looking to achieve annual cost savings of about €400 million at the Ebit level by 2025, up from a previous target of €350 million. It's looking to save money in all its business units and also at its headquarters, in part by focusing on digitalization. Since taking over the company's helm in October 2022, Chief Executive Officer Michael Sen has simplified the healthcare conglomerate's strategy after years of complaints from investors that it was too complex. He's given priority to the Kabi intravenous-drug unit and Helios division, which owns and operates hospitals in Europe and Latin America, while reducing the conglomerate's focus on its rehabilitation clinic divisi
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