SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of December 2016
FRESENIUS MEDICAL CARE AG & Co. KGaA
(Translation of registrants name into English)
Else-Kröner Strasse 1
61346 Bad Homburg
Germany
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82
On December 1, 2016, Fresenius Medical Care AG & Co. KGaA (the Company) issued an Investor News announcing its change in accounting principles from U.S. Generally Accepted Accounting Principles to International Financial Reporting Standards effective January 1, 2017.
EXHIBITS
Exhibit 99.1 |
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Investor News Release issued December 1, 2016. |
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Exhibit 99.2 |
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Historical International Financial Reporting Standards figures |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
DATE: December 1, 2016 |
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FRESENIUS MEDICAL CARE AG & Co. KGaA, | ||
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a partnership limited by shares, represented by: | ||
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FRESENIUS MEDICAL CARE MANAGEMENT AG, its | ||
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general partner | ||
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By: |
/s/ RICE POWELL | |
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Name: |
Rice Powell |
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Title: |
Chief Executive Officer and |
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Chairman of the Management Board | |
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of the General Partner | |
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By: |
/s/ MICHAEL BROSNAN | |
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Name: |
Michael Brosnan |
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Title: |
Chief Financial Officer and |
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Member of the Management Board |
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of the General Partner |
Exhibit 99.1
Announcement Fresenius Medical Care will focus on IFRS reporting and discontinue U.S. GAAP financial statements
Fresenius Medical Care AG & Co. KGaA will focus its reporting on financial statements in accordance with International Financial Reporting Standards (IFRS) in Euro currency starting with the 2017 fiscal year on January 1, 2017. The company will then no longer provide U.S. GAAP financial information.
Fresenius Medical Care AG & Co. KGaA, as a publicly traded company based in a European Union member country, is required to prepare and publish its consolidated financial statements in accordance with IFRS in Euro, pursuant to Section 315a of the German Commercial Code (HGB).
In addition to this compulsory IFRS accounting, Fresenius Medical Care AG & Co. KGaA was required to publish consolidated U.S. GAAP financial statements by its so called Pooling Agreement. However, an amendment to this pooling agreement was approved at the 2016 Annual General Meeting of Fresenius Medical Care AG & Co. KGaA. This amendment allows for the preparation and reporting of financial statements under U.S. GAAP or IFRS to the Securities and Exchange Commission. In the interest of streamlining the management and accounting, Fresenius Medical Care Group will concentrate its reporting, including its filings with the U.S. Securities and Exchange Commission, on financial statements in accordance with IFRS starting with the 2017 fiscal year on January 1, 2017.
For fiscal year 2016, Fresenius Medical Care AG & Co. KGaA will, as in past years, provide both U.S. GAAP and IFRS consolidated financial statements.
The discontinuation of U.S. GAAP reporting will not affect the sponsored Level 2 American Depositary Receipt (ADR) program of Fresenius Medical Care AG & Co. KGaA in the United States. The ADRs will continue to trade under the FMS US ticker on the New York Stock Exchange.
No significant differences between IFRS and U.S. GAAP financial statements
Past reporting showed only limited differences between the consolidated U.S. GAAP and IFRS accounts of Fresenius Medical Care AG & Co. KGaA. We provide historic IFRS figures and a currency reconciliation for Fresenius Medical Care on our Investor Relations website.
Fresenius Medical Care is the worlds largest provider of products and services for individuals with renal diseases, of which around 2.8 million patients worldwide regularly undergo dialysis treatment. Through its network of 3,579 dialysis clinics, Fresenius Medical Care provides dialysis treatments for 306,366 patients around the globe. Fresenius Medical Care is also the leading provider of dialysis products such as dialysis machines or dialyzers. Along with the core business, the company focuses on expanding the range of additional medical services in the field of care coordination.
For more information about Fresenius Medical Care, visit the Companys website at www.freseniusmedicalcare.com.
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaAs reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.
Exhibit 99.2
Fresenius Medical Care AG & Co. KGaA
OVERVIEW OF HISTORICAL IFRS / EURO RESULTS
December 1, 2016
Investor Relations
phone: +49 6172 609 2525
fax: +49 6172 609 2301
email: ir@fmc-ag.com
Content: |
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Statement of earnings FY |
|
tab 1 |
Statement of earnings quarterly |
|
tab 2 |
Segment information FY |
|
tab 3 |
Segment information quarterly |
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tab 4 |
Key metrics FY |
|
tab 5 |
Key metrics quarterly |
|
tab 6 |
Balance sheet FY |
|
tab 7 |
Cash flow FY |
|
tab 8 |
Cash flow quarterly (summary) |
|
tab 9 |
Disclaimer
Due to rounding, there might occur slight variations in the current report in totals and in calculating percentage figures
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaAs reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release. |
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Copyright by Fresenius Medical Care AG & Co. KGaA
in million, except share data |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
| ||||||
|
|
FY 2012 |
|
FY 2012 |
|
FY 2012 |
|
FY 2013 |
|
FY 2013 |
|
FY 2013 |
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FY 2014 |
|
FY 2014 |
|
FY 2014 |
|
FY 2015 |
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FY 2015 |
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FY 2015 |
|
9 M2016 |
|
9 M2016 |
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9 M2016 |
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|
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|
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|
| ||||||
Health Care revenue |
|
10,772 |
|
8,384 |
|
8,384 |
|
11,415 |
|
8,595 |
|
8,595 |
|
12,553 |
|
9,449 |
|
9,449 |
|
13,801 |
|
12,439 |
|
12,439 |
|
11,061 |
|
9,910 |
|
9,910 |
| ||||||
Less: patient service bad debt provision |
|
280 |
|
218 |
|
0 |
|
285 |
|
215 |
|
0 |
|
303 |
|
228 |
|
0 |
|
409 |
|
369 |
|
0 |
|
341 |
|
306 |
|
0 |
| ||||||
Net Health Care revenue |
|
10,492 |
|
8,166 |
|
8,384 |
|
11,130 |
|
8,380 |
|
8,595 |
|
12,250 |
|
9,221 |
|
9,449 |
|
13,392 |
|
12,070 |
|
12,439 |
|
10,720 |
|
9,604 |
|
9,910 |
| ||||||
Dialysis products revenue |
|
3,308 |
|
2,575 |
|
2,575 |
|
3,480 |
|
2,620 |
|
2,620 |
|
3,582 |
|
2,696 |
|
2,696 |
|
3,346 |
|
3,016 |
|
3,016 |
|
2,504 |
|
2,243 |
|
2,243 |
| ||||||
Total net revenue |
|
13,800 |
|
10,741 |
|
10,959 |
|
14,610 |
|
11,000 |
|
11,215 |
|
15,832 |
|
11,917 |
|
12,145 |
|
16,738 |
|
15,086 |
|
15,455 |
|
13,224 |
|
11,847 |
|
12,153 |
| ||||||
Revenue growth in % (current) |
|
9.8 |
% |
|
|
19.2 |
% |
5.9 |
% |
|
|
2.3 |
% |
8.4 |
% |
|
|
8.3 |
% |
5.7 |
% |
|
|
27.3 |
% |
6.7 |
% |
|
|
6.6 |
% | ||||||
Revenue growth in % (constant) |
|
12.2 |
% |
|
|
12.4 |
% |
6.3 |
% |
|
|
6.2 |
% |
10.0 |
% |
|
|
10.0 |
% |
11.1 |
% |
|
|
11.5 |
% |
8.2 |
% |
|
|
8.1 |
% | ||||||
Organic revenue growth in % |
|
4.6 |
% |
|
|
4.6 |
% |
4.6 |
% |
|
|
4.6 |
% |
5.3 |
% |
|
|
5.3 |
% |
6.5 |
% |
|
|
6.5 |
% |
6.9 |
% |
|
|
6.9 |
% | ||||||
|
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|
|
|
|
|
|
|
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|
|
|
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|
|
|
|
|
|
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|
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|
|
|
|
|
|
| ||||||
Costs of revenue |
|
9,199 |
|
7,160 |
|
7,162 |
|
9,872 |
|
7,432 |
|
7,434 |
|
10,836 |
|
8,156 |
|
8,155 |
|
11,407 |
|
10,281 |
|
10,277 |
|
9,036 |
|
8,095 |
|
8,090 |
| ||||||
Gross profit |
|
4,601 |
|
3,581 |
|
3,797 |
|
4,738 |
|
3,568 |
|
3,781 |
|
4,996 |
|
3,761 |
|
3,990 |
|
5,331 |
|
4,805 |
|
5,178 |
|
4,188 |
|
3,752 |
|
4,063 |
| ||||||
Selling, general and administrative |
|
2,187 |
|
1,703 |
|
1,912 |
|
2,382 |
|
1,794 |
|
2,022 |
|
2,644 |
|
1,991 |
|
2,222 |
|
2,895 |
|
2,610 |
|
2,949 |
|
2,278 |
|
2,040 |
|
2,331 |
| ||||||
Research and development |
|
112 |
|
87 |
|
89 |
|
126 |
|
95 |
|
96 |
|
122 |
|
92 |
|
94 |
|
140 |
|
126 |
|
128 |
|
120 |
|
108 |
|
108 |
| ||||||
Income from equity method investees |
|
(17 |
) |
(14 |
) |
(14 |
) |
(26 |
) |
(20 |
) |
(20 |
) |
(25 |
) |
(19 |
) |
(19 |
) |
(31 |
) |
(28 |
) |
(28 |
) |
(61 |
) |
(55 |
) |
(55 |
) | ||||||
Other operating expense |
|
100 |
|
78 |
|
78 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Operating income (EBIT) |
|
2,219 |
|
1,727 |
|
1,732 |
|
2,256 |
|
1,699 |
|
1,683 |
|
2,255 |
|
1,697 |
|
1,693 |
|
2,327 |
|
2,097 |
|
2,129 |
|
1,851 |
|
1,659 |
|
1,679 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Investment gain |
|
(140 |
) |
(109 |
) |
(109 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest income |
|
(44 |
) |
(35 |
) |
(35 |
) |
(39 |
) |
(29 |
) |
(29 |
) |
(84 |
) |
(63 |
) |
(63 |
) |
(117 |
) |
(105 |
) |
(105 |
) |
(38 |
) |
(34 |
) |
(34 |
) | ||||||
Interest expense |
|
470 |
|
367 |
|
367 |
|
448 |
|
337 |
|
337 |
|
495 |
|
373 |
|
373 |
|
508 |
|
458 |
|
458 |
|
346 |
|
310 |
|
310 |
| ||||||
Interest expense, net |
|
426 |
|
332 |
|
332 |
|
409 |
|
308 |
|
308 |
|
411 |
|
310 |
|
310 |
|
391 |
|
353 |
|
353 |
|
308 |
|
276 |
|
276 |
| ||||||
Income before taxes |
|
1,933 |
|
1,504 |
|
1,509 |
|
1,847 |
|
1,391 |
|
1,375 |
|
1,844 |
|
1,387 |
|
1,383 |
|
1,936 |
|
1,744 |
|
1,776 |
|
1,543 |
|
1,383 |
|
1,403 |
| ||||||
Income tax expense |
|
605 |
|
471 |
|
475 |
|
592 |
|
446 |
|
455 |
|
584 |
|
440 |
|
441 |
|
623 |
|
560 |
|
565 |
|
471 |
|
422 |
|
427 |
| ||||||
Net income |
|
1,328 |
|
1,033 |
|
1,034 |
|
1,255 |
|
945 |
|
920 |
|
1,260 |
|
947 |
|
942 |
|
1,313 |
|
1,184 |
|
1,211 |
|
1,072 |
|
961 |
|
976 |
| ||||||
Less: Net income attributable to noncontrolling interests |
|
141 |
|
109 |
|
109 |
|
145 |
|
109 |
|
109 |
|
215 |
|
161 |
|
161 |
|
284 |
|
256 |
|
256 |
|
217 |
|
195 |
|
195 |
| ||||||
Net income attributable to shareholders of FMC AG & Co. KGaA |
|
1,187 |
|
924 |
|
925 |
|
1,110 |
|
836 |
|
811 |
|
1,045 |
|
786 |
|
781 |
|
1,029 |
|
928 |
|
955 |
|
855 |
|
766 |
|
781 |
| ||||||
Growth in net income attributable to shareholders of FMC AG Co. KGaA % (current) |
|
10.8 |
% |
|
|
18.5 |
% |
-6.5 |
% |
|
|
-12.3 |
% |
-5.8 |
% |
|
|
-3.6 |
% |
-1.5 |
% |
|
|
22.2 |
% |
20.0 |
% |
|
|
19.4 |
% | ||||||
Growth in net income attributable to shareholders of FMC AG Co. KGaA % (constant) |
|
|
|
|
|
11.6 |
% |
|
|
|
|
-9.5 |
% |
|
|
|
|
-3.3 |
% |
|
|
|
|
6.8 |
% |
|
|
|
|
19.8 |
% | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Operating income (EBIT) |
|
2,219 |
|
1,727 |
|
1,732 |
|
2,256 |
|
1,699 |
|
1,683 |
|
2,255 |
|
1,697 |
|
1,693 |
|
2,327 |
|
2,097 |
|
2,129 |
|
1,851 |
|
1,659 |
|
1,679 |
| ||||||
Depreciation and amortization |
|
602 |
|
469 |
|
471 |
|
648 |
|
488 |
|
490 |
|
699 |
|
526 |
|
528 |
|
717 |
|
647 |
|
648 |
|
573 |
|
513 |
|
513 |
| ||||||
EBITDA |
|
2,821 |
|
2,196 |
|
2,203 |
|
2,904 |
|
2,187 |
|
2,173 |
|
2,954 |
|
2,223 |
|
2,221 |
|
3,044 |
|
2,744 |
|
2,777 |
|
2,424 |
|
2,172 |
|
2,192 |
| ||||||
EBITDA margin |
|
20.4 |
% |
20.4 |
% |
20.1 |
% |
19.9 |
% |
19.9 |
% |
19.4 |
% |
18.7 |
% |
18.7 |
% |
18.3 |
% |
18.2 |
% |
18.2 |
% |
18.0 |
% |
18.3 |
% |
18.3 |
% |
18.0 |
% | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Weighted average number of shares |
|
305,108,959 |
|
305,108,959 |
|
305,108,959 |
|
303,815,122 |
|
303,815,122 |
|
303,815,122 |
|
302,339,124 |
|
302,339,124 |
|
302,339,124 |
|
304,440,184 |
|
304,440,184 |
|
304,440,184 |
|
305,602,983 |
|
305,602,983 |
|
305,602,983 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Basic earnings per share |
|
$ |
3.89 |
|
|
3.03 |
|
3.03 |
|
$ |
3.65 |
|
2.75 |
|
2.67 |
|
$ |
3.46 |
|
2.60 |
|
2.58 |
|
$ |
3.38 |
|
3.05 |
|
3.14 |
|
$ |
2.80 |
|
2.51 |
|
2.56 |
|
Basic earnings per ADS |
|
$ |
1.94 |
|
1.52 |
|
1.52 |
|
$ |
1.83 |
|
1.38 |
|
1.34 |
|
$ |
1.73 |
|
1.30 |
|
1.29 |
|
$ |
1.69 |
|
1.53 |
|
1.57 |
|
$ |
1.40 |
|
1.26 |
|
1.28 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
In percent of revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Costs of revenue |
|
66.7 |
% |
66.7 |
% |
65.4 |
% |
67.6 |
% |
67.6 |
% |
66.3 |
% |
68.4 |
% |
68.4 |
% |
67.1 |
% |
68.1 |
% |
68.1 |
% |
66.5 |
% |
68.3 |
% |
68.3 |
% |
66.6 |
% | ||||||
Gross profit |
|
33.3 |
% |
33.3 |
% |
34.6 |
% |
32.4 |
% |
32.4 |
% |
33.7 |
% |
31.6 |
% |
31.6 |
% |
32.9 |
% |
31.9 |
% |
31.9 |
% |
33.5 |
% |
31.7 |
% |
31.7 |
% |
33.4 |
% | ||||||
Operating income (EBIT) |
|
16.1 |
% |
16.1 |
% |
15.8 |
% |
15.4 |
% |
15.4 |
% |
15.0 |
% |
14.2 |
% |
14.2 |
% |
13.9 |
% |
13.9 |
% |
13.9 |
% |
13.8 |
% |
14.0 |
% |
14.0 |
% |
13.8 |
% | ||||||
Net income attributable to shareholders of FMC AG & Co. KGaA |
|
8.6 |
% |
8.6 |
% |
8.4 |
% |
7.6 |
% |
7.6 |
% |
7.2 |
% |
6.6 |
% |
6.6 |
% |
6.4 |
% |
6.2 |
% |
6.2 |
% |
6.2 |
% |
6.5 |
% |
6.5 |
% |
6.4 |
% | ||||||
(1) Growth rates as reported, 2011 not adjusted for the retrospective implemenation of IAS 19R in 2013.
The differences between the US GAAP and the IFRS key data are mainly due to the differing bad debt provision for accounts receivables related to health care services, cumulative actuarial gains and losses for pensions, recognition of gains from sale and lease back transactions, contingent purchase considerations, obligations from stock incentive plans and development costs. Additional differences for income taxes result from the different accounting treatment of intercompany transaction with equity method investees.
Additional differences for the assets result from the different accounting treatment of the sale of receivables.
in million, except share data |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
| |||||||
|
|
Q1 2014 |
|
Q1 2014 |
|
Q2 2014 |
|
Q2 2014 |
|
Q3 2014 |
|
Q3 2014 |
|
Q4 2014 |
|
Q4 2014 |
|
YTD Q2 2014 |
|
YTD Q2 2014 |
|
YTD Q3 2014 |
|
YTD Q3 2014 |
|
FY 2014 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Health Care revenue |
|
2,845 |
|
2,078 |
|
3,014 |
|
2,198 |
|
3,277 |
|
2,467 |
|
3,417 |
|
(6,743 |
) |
5,859 |
|
4,276 |
|
9,136 |
|
6,743 |
|
12,553 |
| |||||||
Less: patient service bad debt provision |
|
63 |
|
0 |
|
65 |
|
0 |
|
80 |
|
0 |
|
95 |
|
0 |
|
128 |
|
0 |
|
208 |
|
0 |
|
303 |
| |||||||
Net Health Care revenue |
|
2,782 |
|
2,078 |
|
2,949 |
|
2,198 |
|
3,197 |
|
2,467 |
|
3,322 |
|
(6,743 |
) |
5,731 |
|
4,276 |
|
8,928 |
|
6,743 |
|
12,250 |
| |||||||
Dialysis products revenue |
|
782 |
|
570 |
|
886 |
|
646 |
|
916 |
|
690 |
|
998 |
|
790 |
|
1,667 |
|
1,216 |
|
2,583 |
|
1,906 |
|
3,582 |
| |||||||
Total net revenue |
|
3,564 |
|
2,648 |
|
3,835 |
|
2,844 |
|
4,113 |
|
3,157 |
|
4,320 |
|
(5,953 |
) |
7,398 |
|
5,492 |
|
11,511 |
|
8,649 |
|
15,832 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Costs of revenue |
|
2,482 |
|
1,809 |
|
2,624 |
|
1,913 |
|
2,825 |
|
2,130 |
|
2,906 |
|
2,302 |
|
4,104 |
|
3,723 |
|
7,929 |
|
5,853 |
|
10,836 |
| |||||||
Gross profit |
|
1,082 |
|
839 |
|
1,211 |
|
931 |
|
1,288 |
|
1,027 |
|
1,414 |
|
(8,255 |
) |
2,294 |
|
1,769 |
|
3,582 |
|
2,796 |
|
4,996 |
| |||||||
Selling, general and administrative |
|
620 |
|
512 |
|
631 |
|
504 |
|
671 |
|
562 |
|
723 |
|
645 |
|
1,250 |
|
1,015 |
|
1,922 |
|
1,577 |
|
2,644 |
| |||||||
Research and development |
|
30 |
|
22 |
|
31 |
|
23 |
|
30 |
|
23 |
|
31 |
|
26 |
|
61 |
|
45 |
|
91 |
|
68 |
|
122 |
| |||||||
Income from equity method investees |
|
(13 |
) |
(9 |
) |
(7 |
) |
(4 |
) |
(3 |
) |
(3 |
) |
(3 |
) |
(3 |
) |
(18 |
) |
(13 |
) |
(22 |
) |
(16 |
) |
(25 |
) | |||||||
Operating income (EBIT) |
|
445 |
|
314 |
|
556 |
|
408 |
|
590 |
|
445 |
|
663 |
|
(8,923 |
) |
1,001 |
|
722 |
|
1,591 |
|
1,167 |
|
2,255 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Interest income |
|
(16 |
) |
(11 |
) |
(13 |
) |
(10 |
) |
(12 |
) |
(8 |
) |
(45 |
) |
(34 |
) |
(28 |
) |
(21 |
) |
(40 |
) |
(29 |
) |
(84 |
) | |||||||
Interest expense |
|
112 |
|
81 |
|
111 |
|
82 |
|
111 |
|
83 |
|
162 |
|
127 |
|
223 |
|
163 |
|
334 |
|
246 |
|
495 |
| |||||||
Interest expense, net |
|
96 |
|
70 |
|
98 |
|
72 |
|
99 |
|
75 |
|
117 |
|
93 |
|
195 |
|
142 |
|
294 |
|
217 |
|
411 |
| |||||||
Income before taxes |
|
349 |
|
244 |
|
458 |
|
336 |
|
491 |
|
370 |
|
546 |
|
(9,016 |
) |
806 |
|
580 |
|
1,297 |
|
950 |
|
1,844 |
| |||||||
Income tax expense |
|
102 |
|
75 |
|
177 |
|
130 |
|
162 |
|
123 |
|
143 |
|
113 |
|
278 |
|
205 |
|
440 |
|
328 |
|
584 |
| |||||||
Net income |
|
247 |
|
169 |
|
281 |
|
206 |
|
329 |
|
247 |
|
403 |
|
(9,129 |
) |
528 |
|
375 |
|
857 |
|
622 |
|
1,260 |
| |||||||
Less: Net income attributable to noncontrolling interests |
|
42 |
|
31 |
|
47 |
|
35 |
|
58 |
|
42 |
|
68 |
|
53 |
|
89 |
|
66 |
|
147 |
|
108 |
|
215 |
| |||||||
Net income attributable to shareholders of FMC AG & Co. KGaA |
|
205 |
|
138 |
|
234 |
|
171 |
|
271 |
|
205 |
|
335 |
|
(9,182 |
) |
439 |
|
309 |
|
710 |
|
514 |
|
1,045 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Operating income (EBIT) |
|
445 |
|
314 |
|
556 |
|
408 |
|
590 |
|
445 |
|
663 |
|
(8,923 |
) |
1,001 |
|
722 |
|
1,591 |
|
1,167 |
|
2,255 |
| |||||||
Depreciation and amortization |
|
167 |
|
123 |
|
169 |
|
123 |
|
177 |
|
134 |
|
186 |
|
148 |
|
336 |
|
246 |
|
514 |
|
380 |
|
699 |
| |||||||
EBITDA |
|
612 |
|
437 |
|
725 |
|
531 |
|
767 |
|
579 |
|
849 |
|
(8,775 |
) |
1,337 |
|
968 |
|
2,105 |
|
1,547 |
|
2,954 |
| |||||||
EBITDA margin |
|
17.2 |
% |
16.5 |
% |
18.9 |
% |
18.7 |
% |
18.7 |
% |
18.4 |
% |
19.7 |
% |
147.5 |
% |
18.1 |
% |
17.6 |
% |
18.3 |
% |
17.9 |
% |
18.7 |
% | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Weighted average number of shares |
|
301,491,046 |
|
301,491,046 |
|
301,781,895 |
|
301,781,895 |
|
302,711,512 |
|
302,711,512 |
|
303,347,550 |
|
303,347,550 |
|
301,637,274 |
|
301,637,274 |
|
301,999,288 |
|
301,999,288 |
|
302,339,124 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Basic earnings per share |
|
$ |
0.68 |
|
0.46 |
|
$ |
0.77 |
|
0.57 |
|
$ |
0.89 |
|
0.68 |
|
$ |
1.11 |
|
0.88 |
|
$ |
1.46 |
|
1.02 |
|
$ |
2.35 |
|
1.70 |
|
$ |
3.46 |
|
Basic earnings per ADS |
|
$ |
0.34 |
|
0.23 |
|
$ |
0.39 |
|
0.29 |
|
$ |
0.45 |
|
0.34 |
|
$ |
0.55 |
|
0.44 |
|
$ |
0.73 |
|
0.51 |
|
$ |
1.18 |
|
0.85 |
|
$ |
1.73 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
In percent of revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Costs of revenue |
|
69.6 |
% |
68.3 |
% |
68.4 |
% |
67.3 |
% |
68.7 |
% |
67.4 |
% |
67.3 |
% |
65.8 |
% |
69.0 |
% |
67.8 |
% |
68.9 |
% |
67.7 |
% |
68.4 |
% | |||||||
Gross profit |
|
30.4 |
% |
31.7 |
% |
31.6 |
% |
32.7 |
% |
31.3 |
% |
32.6 |
% |
32.7 |
% |
34.2 |
% |
31.0 |
% |
32.2 |
% |
31.1 |
% |
32.3 |
% |
31.6 |
% | |||||||
Operating income (EBIT) |
|
12.5 |
% |
11.9 |
% |
14.5 |
% |
14.3 |
% |
14.3 |
% |
14.1 |
% |
15.4 |
% |
150.0 |
% |
13.5 |
% |
13.1 |
% |
13.8 |
% |
13.5 |
% |
14.2 |
% | |||||||
Net income attributable to shareholders of FMC AG & Co. KGaA |
|
5.8 |
% |
5.2 |
% |
6.1 |
% |
6.0 |
% |
6.6 |
% |
6.5 |
% |
7.8 |
% |
154.2 |
% |
5.9 |
% |
5.6 |
% |
6.2 |
% |
5.9 |
% |
6.6 |
% |
in million, except share data |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP (USD) |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
| ||||||
|
|
FY 2014 |
|
Q1 2015 |
|
Q1 2015 |
|
Q2 2015 |
|
Q2 2015 |
|
Q3 2015 |
|
Q3 2015 |
|
Q4 2015 |
|
Q4 2015 |
|
YTD Q2 2015 |
|
YTD Q2 2015 |
|
YTD Q3 2015 |
|
YTD Q3 2015 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Health Care revenue |
|
9,449 |
|
3,289 |
|
2,921 |
|
3,454 |
|
3,122 |
|
3,506 |
|
3,154 |
|
3,552 |
|
3,242 |
|
6,743 |
|
6,043 |
|
10,249 |
|
9,197 |
| ||||||
Less: patient service bad debt provision |
|
9,449 |
|
107 |
|
0 |
|
109 |
|
0 |
|
104 |
|
0 |
|
90 |
|
0 |
|
216 |
|
0 |
|
320 |
|
0 |
| ||||||
Net Health Care revenue |
|
0 |
|
3,182 |
|
2,921 |
|
3,345 |
|
3,122 |
|
3,402 |
|
3,154 |
|
3,462 |
|
3,242 |
|
6,527 |
|
6,043 |
|
9,929 |
|
9,197 |
| ||||||
Dialysis products revenue |
|
2,696 |
|
778 |
|
690 |
|
854 |
|
772 |
|
829 |
|
746 |
|
886 |
|
808 |
|
1,632 |
|
1,462 |
|
2,461 |
|
2,208 |
| ||||||
Total net revenue |
|
2,696 |
|
3,960 |
|
3,611 |
|
4,199 |
|
3,894 |
|
4,231 |
|
3,900 |
|
4,348 |
|
4,050 |
|
8,159 |
|
7,505 |
|
12,390 |
|
11,405 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Costs of revenue |
|
8,155 |
|
2,776 |
|
2,467 |
|
2,902 |
|
2,623 |
|
2,849 |
|
2,563 |
|
2,880 |
|
2,625 |
|
5,678 |
|
5,090 |
|
8,527 |
|
7,652 |
| ||||||
Gross profit |
|
(5,459 |
) |
1,184 |
|
1,144 |
|
1,297 |
|
1,271 |
|
1,382 |
|
1,337 |
|
1,468 |
|
1,425 |
|
2,481 |
|
2,415 |
|
3,863 |
|
3,753 |
| ||||||
Selling, general and administrative |
|
2,222 |
|
655 |
|
669 |
|
723 |
|
745 |
|
742 |
|
753 |
|
775 |
|
781 |
|
1,378 |
|
1,414 |
|
2,120 |
|
2,168 |
| ||||||
Research and development |
|
94 |
|
31 |
|
28 |
|
34 |
|
31 |
|
35 |
|
32 |
|
40 |
|
37 |
|
65 |
|
59 |
|
100 |
|
91 |
| ||||||
Income from equity method investees |
|
(19 |
) |
(6 |
) |
(6 |
) |
(7 |
) |
(6 |
) |
(9 |
) |
(8 |
) |
(9 |
) |
(8 |
) |
(13 |
) |
(12 |
) |
(22 |
) |
(20 |
) | ||||||
Operating income (EBIT) |
|
(7,756 |
) |
504 |
|
453 |
|
547 |
|
501 |
|
614 |
|
560 |
|
662 |
|
615 |
|
1,051 |
|
954 |
|
1,665 |
|
1,514 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest income |
|
(63 |
) |
(60 |
) |
(53 |
) |
(13 |
) |
(12 |
) |
(6 |
) |
(7 |
) |
(37 |
) |
(33 |
) |
(73 |
) |
(65 |
) |
(80 |
) |
(72 |
) | ||||||
Interest expense |
|
373 |
|
162 |
|
144 |
|
115 |
|
104 |
|
106 |
|
96 |
|
125 |
|
114 |
|
277 |
|
248 |
|
384 |
|
344 |
| ||||||
Interest expense, net |
|
310 |
|
102 |
|
91 |
|
102 |
|
92 |
|
100 |
|
89 |
|
88 |
|
81 |
|
204 |
|
183 |
|
304 |
|
272 |
| ||||||
Income before taxes |
|
(8,066 |
) |
402 |
|
362 |
|
445 |
|
409 |
|
514 |
|
471 |
|
574 |
|
534 |
|
847 |
|
771 |
|
1,361 |
|
1,242 |
| ||||||
Income tax expense |
|
441 |
|
138 |
|
124 |
|
135 |
|
126 |
|
168 |
|
152 |
|
180 |
|
163 |
|
273 |
|
250 |
|
441 |
|
402 |
| ||||||
Net income |
|
(8,507 |
) |
264 |
|
238 |
|
310 |
|
283 |
|
346 |
|
319 |
|
394 |
|
371 |
|
574 |
|
521 |
|
920 |
|
840 |
| ||||||
Less: Net income attributable to noncontrolling interests |
|
161 |
|
54 |
|
49 |
|
69 |
|
61 |
|
84 |
|
76 |
|
77 |
|
70 |
|
124 |
|
110 |
|
207 |
|
186 |
| ||||||
Net income attributable to shareholders of FMC AG & Co. KGaA |
|
(8,668 |
) |
210 |
|
189 |
|
241 |
|
222 |
|
262 |
|
243 |
|
317 |
|
301 |
|
450 |
|
411 |
|
713 |
|
654 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Operating income (EBIT) |
|
(7,756 |
) |
504 |
|
453 |
|
547 |
|
501 |
|
614 |
|
560 |
|
662 |
|
615 |
|
1,051 |
|
954 |
|
1,665 |
|
1,514 |
| ||||||
Depreciation and amortization |
|
528 |
|
176 |
|
156 |
|
181 |
|
165 |
|
179 |
|
162 |
|
181 |
|
165 |
|
357 |
|
321 |
|
537 |
|
483 |
| ||||||
EBITDA |
|
(7,228 |
) |
680 |
|
609 |
|
728 |
|
666 |
|
793 |
|
722 |
|
843 |
|
780 |
|
1,408 |
|
1,275 |
|
2,202 |
|
1,997 |
| ||||||
EBITDA margin |
|
-268.1 |
% |
17.2 |
% |
16.9 |
% |
17.3 |
% |
17.1 |
% |
18.7 |
% |
18.5 |
% |
19.4 |
% |
19.3 |
% |
17.3 |
% |
17.0 |
% |
17.8 |
% |
17.5 |
% | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Weighted average number of shares |
|
302,339,124 |
|
303,683,075 |
|
303,683,075 |
|
304,172,400 |
|
304,172,400 |
|
304,738,291 |
|
304,738,291 |
|
305,147,599 |
|
305,147,599 |
|
303,929,089 |
|
303,929,089 |
|
304,201,787 |
|
304,201,787 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Basic earnings per share |
|
2.58 |
|
$ |
0.69 |
|
0.62 |
|
$ |
0.79 |
|
0.73 |
|
$ |
0.86 |
|
0.80 |
|
$ |
1.04 |
|
0.99 |
|
$ |
1.48 |
|
1.35 |
|
$ |
2.34 |
|
2.15 |
|
Basic earnings per ADS |
|
1.29 |
|
$ |
0.35 |
|
0.31 |
|
$ |
0.40 |
|
0.37 |
|
$ |
0.43 |
|
0.40 |
|
$ |
0.52 |
|
0.50 |
|
$ |
0.74 |
|
0.68 |
|
$ |
1.17 |
|
1.08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
In percent of revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Costs of revenue |
|
67.1 |
% |
70.1 |
% |
68.3 |
% |
69.1 |
% |
67.3 |
% |
67.3 |
% |
65.7 |
% |
66.2 |
% |
64.8 |
% |
69.6 |
% |
67.8 |
% |
68.8 |
% |
67.1 |
% | ||||||
Gross profit |
|
32.9 |
% |
29.9 |
% |
31.7 |
% |
30.9 |
% |
32.7 |
% |
32.7 |
% |
34.3 |
% |
33.8 |
% |
35.2 |
% |
30.4 |
% |
32.2 |
% |
31.2 |
% |
32.9 |
% | ||||||
Operating income (EBIT) |
|
-287.7 |
% |
12.7 |
% |
12.5 |
% |
13.0 |
% |
12.9 |
% |
14.5 |
% |
14.4 |
% |
15.2 |
% |
15.2 |
% |
12.9 |
% |
12.7 |
% |
13.4 |
% |
13.3 |
% | ||||||
Net income attributable to shareholders of FMC AG & Co. KGaA |
|
-321.5 |
% |
5.3 |
% |
5.2 |
% |
5.7 |
% |
5.7 |
% |
6.2 |
% |
6.2 |
% |
7.3 |
% |
7.4 |
% |
5.5 |
% |
5.5 |
% |
5.8 |
% |
5.7 |
% |
in million, except share data |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
| ||||||||
|
|
FY 2015 |
|
FY 2015 |
|
Q1 2016 |
|
Q1 2016 |
|
Q2 2016 |
|
Q2 2016 |
|
Q3 2016 |
|
Q3 2016 |
|
YTD Q2 2016 |
|
YTD Q2 2016 |
|
YTD Q3 2016 |
|
YTD Q3 2016 |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Health Care revenue |
|
|
|
13,801 |
|
12,439 |
|
3,525 |
|
3,199 |
|
3,697 |
|
3,273 |
|
3,839 |
|
3,438 |
|
7,222 |
|
6,472 |
|
11,061 |
|
9,910 |
| ||||||
Less: patient service bad debt provision |
|
|
|
409 |
|
0 |
|
111 |
|
0 |
|
126 |
|
0 |
|
105 |
|
0 |
|
236 |
|
0 |
|
341 |
|
0 |
| ||||||
Net Health Care revenue |
|
|
|
13,392 |
|
12,439 |
|
3,414 |
|
3,199 |
|
3,571 |
|
3,273 |
|
3,734 |
|
3,438 |
|
6,985 |
|
6,472 |
|
10,720 |
|
9,910 |
| ||||||
Dialysis products revenue |
|
|
|
3,346 |
|
3,016 |
|
791 |
|
717 |
|
849 |
|
753 |
|
864 |
|
773 |
|
1,641 |
|
1,470 |
|
2,504 |
|
2,243 |
| ||||||
Total net revenue |
|
|
|
16,738 |
|
15,455 |
|
4,205 |
|
3,916 |
|
4,420 |
|
4,026 |
|
4,598 |
|
4,211 |
|
8,626 |
|
7,942 |
|
13,224 |
|
12,153 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Costs of revenue |
|
|
|
11,407 |
|
10,277 |
|
2,887 |
|
2,622 |
|
3,021 |
|
2,673 |
|
3,126 |
|
2,796 |
|
5,910 |
|
5,294 |
|
9,036 |
|
8,090 |
| ||||||
Gross profit |
|
|
|
5,331 |
|
5,178 |
|
1,318 |
|
1,294 |
|
1,399 |
|
1,353 |
|
1,472 |
|
1,415 |
|
2,716 |
|
2,648 |
|
4,188 |
|
4,063 |
| ||||||
Selling, general and administrative |
|
|
|
2,895 |
|
2,949 |
|
760 |
|
780 |
|
732 |
|
760 |
|
787 |
|
790 |
|
1,491 |
|
1,541 |
|
2,278 |
|
2,331 |
| ||||||
Research and development |
|
|
|
140 |
|
128 |
|
37 |
|
34 |
|
39 |
|
34 |
|
44 |
|
40 |
|
76 |
|
68 |
|
120 |
|
108 |
| ||||||
Income from equity method investees |
|
|
|
(31 |
) |
(28 |
) |
(19 |
) |
(17 |
) |
(13 |
) |
(12 |
) |
(29 |
) |
(26 |
) |
(32 |
) |
(29 |
) |
(61 |
) |
(55 |
) | ||||||
Operating income (EBIT) |
|
|
|
2,327 |
|
2,129 |
|
540 |
|
497 |
|
641 |
|
571 |
|
670 |
|
611 |
|
1,181 |
|
1,068 |
|
1,851 |
|
1,679 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest income |
|
|
|
(117 |
) |
(105 |
) |
(11 |
) |
(10 |
) |
(17 |
) |
(16 |
) |
(10 |
) |
(8 |
) |
(28 |
) |
(26 |
) |
(38 |
) |
(34 |
) | ||||||
Interest expense |
|
|
|
508 |
|
458 |
|
116 |
|
106 |
|
119 |
|
106 |
|
110 |
|
98 |
|
236 |
|
212 |
|
346 |
|
310 |
| ||||||
Interest expense, net |
|
|
|
391 |
|
353 |
|
105 |
|
96 |
|
102 |
|
90 |
|
100 |
|
90 |
|
208 |
|
186 |
|
308 |
|
276 |
| ||||||
Income before taxes |
|
|
|
1,936 |
|
1,776 |
|
435 |
|
401 |
|
539 |
|
481 |
|
570 |
|
521 |
|
973 |
|
882 |
|
1,543 |
|
1,403 |
| ||||||
Income tax expense |
|
|
|
623 |
|
565 |
|
138 |
|
126 |
|
169 |
|
149 |
|
164 |
|
152 |
|
306 |
|
275 |
|
471 |
|
427 |
| ||||||
Net income |
|
|
|
1,313 |
|
1,211 |
|
297 |
|
275 |
|
370 |
|
332 |
|
406 |
|
369 |
|
667 |
|
607 |
|
1,072 |
|
976 |
| ||||||
Less: Net income attributable to noncontrolling interests |
|
|
|
284 |
|
256 |
|
69 |
|
62 |
|
76 |
|
68 |
|
73 |
|
65 |
|
145 |
|
130 |
|
217 |
|
195 |
| ||||||
Net income attributable to shareholders of FMC AG & Co. KGaA |
|
|
|
1,029 |
|
955 |
|
228 |
|
213 |
|
294 |
|
264 |
|
333 |
|
304 |
|
522 |
|
477 |
|
855 |
|
781 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Operating income (EBIT) |
|
|
|
2,327 |
|
2,129 |
|
540 |
|
497 |
|
641 |
|
571 |
|
670 |
|
611 |
|
1,181 |
|
1,068 |
|
1,851 |
|
1,679 |
| ||||||
Depreciation and amortization |
|
|
|
717 |
|
648 |
|
182 |
|
165 |
|
194 |
|
173 |
|
197 |
|
175 |
|
376 |
|
338 |
|
573 |
|
513 |
| ||||||
EBITDA |
|
|
|
3,044 |
|
2,777 |
|
722 |
|
662 |
|
835 |
|
744 |
|
867 |
|
786 |
|
1,557 |
|
1,406 |
|
2,424 |
|
2,192 |
| ||||||
EBITDA margin |
|
|
|
18.2 |
% |
18.0 |
% |
17.2 |
% |
16.9 |
% |
18.9 |
% |
18.5 |
% |
18.8 |
% |
18.7 |
% |
18.1 |
% |
17.7 |
% |
18.3 |
% |
18.0 |
% | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Weighted average number of shares |
|
|
|
304,440,184 |
|
304,440,184 |
|
305,325,185 |
|
305,325,185 |
|
305,507,271 |
|
305,507,271 |
|
305,972,432 |
|
305,972,432 |
|
305,416,228 |
|
305,416,228 |
|
305,602,983 |
|
305,602,983 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Basic earnings per share |
|
|
|
$ |
3.38 |
|
3.14 |
|
$ |
0.75 |
|
0.70 |
|
$ |
0.96 |
|
0.86 |
|
$ |
1.09 |
|
0.99 |
|
$ |
1.71 |
|
1.56 |
|
$ |
2.80 |
|
2.56 |
|
Basic earnings per ADS |
|
|
|
$ |
1.69 |
|
1.57 |
|
$ |
0.37 |
|
0.35 |
|
$ |
0.48 |
|
0.43 |
|
$ |
0.54 |
|
0.50 |
|
$ |
0.85 |
|
0.78 |
|
$ |
1.40 |
|
1.28 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
In percent of revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Costs of revenue |
|
|
|
68.1 |
% |
66.5 |
% |
68.7 |
% |
66.9 |
% |
68.4 |
% |
66.4 |
% |
68.0 |
% |
66.4 |
% |
68.5 |
% |
66.7 |
% |
68.3 |
% |
66.6 |
% | ||||||
Gross profit |
|
|
|
31.9 |
% |
33.5 |
% |
31.3 |
% |
33.1 |
% |
31.6 |
% |
33.6 |
% |
32.0 |
% |
33.6 |
% |
31.5 |
% |
33.3 |
% |
31.7 |
% |
33.4 |
% | ||||||
Operating income (EBIT) |
|
|
|
13.9 |
% |
13.8 |
% |
12.8 |
% |
12.7 |
% |
14.5 |
% |
14.2 |
% |
14.6 |
% |
14.5 |
% |
13.7 |
% |
13.5 |
% |
14.0 |
% |
13.8 |
% | ||||||
Net income attributable to shareholders of FMC AG & Co. KGaA |
|
|
|
6.2 |
% |
6.2 |
% |
5.4 |
% |
5.4 |
% |
6.6 |
% |
6.6 |
% |
7.2 |
% |
7.2 |
% |
6.1 |
% |
6.0 |
% |
6.5 |
% |
6.4 |
% |
Segment information
|
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
|
|
FY 2014 |
|
FY 2014 |
|
FY 2014 |
|
FY 2015 |
|
FY 2015 |
|
FY 2015 |
|
9M 2016 |
|
9M 2016 |
|
9M 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
15,832 |
|
11,917 |
|
12,145 |
|
16,738 |
|
15,086 |
|
15,455 |
|
13,224 |
|
11,847 |
|
12,153 |
|
Operating income (EBIT) in million |
|
2,255 |
|
1,697 |
|
1,693 |
|
2,327 |
|
2,097 |
|
2,129 |
|
1,851 |
|
1,659 |
|
1,679 |
|
Operating income margin in % |
|
14.2 |
% |
14.2 |
% |
13.9 |
% |
13.9 |
% |
13.9 |
% |
13.8 |
% |
14.0 |
% |
14.0 |
% |
13.8 |
% |
Delivered EBIT in million |
|
2,040 |
|
1,536 |
|
1,532 |
|
2,043 |
|
1,841 |
|
1,873 |
|
1,634 |
|
1,464 |
|
1,484 |
|
Days sales outstanding (DSO) |
|
72 |
|
72 |
|
72 |
|
71 |
|
71 |
|
71 |
|
72 |
|
72 |
|
72 |
|
Employees (full-time equivalents) |
|
99,895 |
|
99,895 |
|
99,895 |
|
104,033 |
|
104,033 |
|
104,033 |
|
108,851 |
|
108,851 |
|
108,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
10,500 |
|
7,904 |
|
8,132 |
|
11,813 |
|
10,647 |
|
11,016 |
|
9,512 |
|
8,522 |
|
8,828 |
|
Operating income (EBIT) in million |
|
1,643 |
|
1,237 |
|
1,246 |
|
1,798 |
|
1,620 |
|
1,648 |
|
1,486 |
|
1,331 |
|
1,348 |
|
Operating income margin in % |
|
15.6 |
% |
15.6 |
% |
15.3 |
% |
15.2 |
% |
15.2 |
% |
15.0 |
% |
15.6 |
% |
15.6 |
% |
15.3 |
% |
Delivered EBIT in million |
|
1,436 |
|
1,081 |
|
1,091 |
|
1,524 |
|
1,374 |
|
1,402 |
|
1,276 |
|
1,143 |
|
1,159 |
|
Days sales outstanding (DSO) |
|
50 |
|
50 |
|
50 |
|
53 |
|
53 |
|
53 |
|
55 |
|
55 |
|
55 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per dialysis treatment |
|
342 |
|
|
|
|
|
346 |
|
|
|
|
|
350 |
|
|
|
|
|
Cost per dialysis treatment |
|
280 |
|
|
|
|
|
279 |
|
|
|
|
|
281 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EMEA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
3,072 |
|
2,313 |
|
2,313 |
|
2,629 |
|
2,369 |
|
2,369 |
|
1,982 |
|
1,776 |
|
1,776 |
|
Operating income (EBIT) in million |
|
590 |
|
444 |
|
445 |
|
577 |
|
520 |
|
522 |
|
395 |
|
354 |
|
354 |
|
Operating income margin in % |
|
19.2 |
% |
19.2 |
% |
19.3 |
% |
21.9 |
% |
21.9 |
% |
22.0 |
% |
19.9 |
% |
19.9 |
% |
19.9 |
% |
Delivered EBIT in million |
|
587 |
|
443 |
|
444 |
|
574 |
|
517 |
|
519 |
|
393 |
|
351 |
|
352 |
|
Days sales outstanding (DSO) |
|
104 |
|
104 |
|
104 |
|
104 |
|
104 |
|
104 |
|
108 |
|
108 |
|
108 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asia-Pacific |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
1,357 |
|
1,021 |
|
1,021 |
|
1,502 |
|
1,353 |
|
1,353 |
|
1,198 |
|
1,074 |
|
1,074 |
|
Operating income (EBIT) in million |
|
279 |
|
210 |
|
211 |
|
298 |
|
268 |
|
270 |
|
225 |
|
201 |
|
202 |
|
Operating income margin in % |
|
20.6 |
% |
20.6 |
% |
20.6 |
% |
19.8 |
% |
19.8 |
% |
19.9 |
% |
18.7 |
% |
18.7 |
% |
18.8 |
% |
Delivered EBIT in million |
|
274 |
|
206 |
|
206 |
|
291 |
|
261 |
|
263 |
|
220 |
|
197 |
|
198 |
|
Days sales outstanding (DSO) |
|
124 |
|
124 |
|
124 |
|
113 |
|
113 |
|
113 |
|
110 |
|
110 |
|
110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Latin America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
836 |
|
629 |
|
629 |
|
766 |
|
691 |
|
691 |
|
520 |
|
466 |
|
466 |
|
Operating income (EBIT) in million |
|
101 |
|
76 |
|
76 |
|
48 |
|
44 |
|
44 |
|
47 |
|
42 |
|
42 |
|
Operating income margin in % |
|
12.1 |
% |
12.1 |
% |
12.1 |
% |
6.3 |
% |
6.3 |
% |
6.3 |
% |
9.1 |
% |
9.1 |
% |
9.0 |
% |
Delivered EBIT in million |
|
101 |
|
76 |
|
76 |
|
48 |
|
44 |
|
44 |
|
47 |
|
42 |
|
42 |
|
Days sales outstanding (DSO) |
|
128 |
|
128 |
|
128 |
|
141 |
|
141 |
|
141 |
|
144 |
|
144 |
|
144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
67 |
|
50 |
|
50 |
|
28 |
|
26 |
|
26 |
|
12 |
|
9 |
|
9 |
|
Operating income (EBIT) in million |
|
(358 |
) |
(270 |
) |
(285 |
) |
(394 |
) |
(355 |
) |
(355 |
) |
(302 |
) |
(269 |
) |
(267 |
) |
Delivered EBIT in million |
|
(358 |
) |
(270 |
) |
(285 |
) |
(394 |
) |
(355 |
) |
(355 |
) |
(302 |
) |
(269 |
) |
(267 |
) |
Segment information
|
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
|
|
Q1 2014 |
|
Q1 2014 |
|
Q2 2014 |
|
Q2 2014 |
|
Q3 2014 |
|
Q3 2014 |
|
Q4 2014 |
|
Q4 2014 |
|
YTD Q2 2014 |
|
YTD Q2 2014 |
|
YTD Q3 2014 |
|
YTD Q3 2014 |
|
FY 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
3,564 |
|
2,648 |
|
3,835 |
|
2,844 |
|
4,113 |
|
3,157 |
|
4,320 |
|
-5,953 |
|
7,398 |
|
5,492 |
|
11,511 |
|
8,649 |
|
15,832 |
|
Operating income (EBIT) in million |
|
445 |
|
314 |
|
556 |
|
408 |
|
590 |
|
445 |
|
663 |
|
-8,923 |
|
1,001 |
|
722 |
|
1,591 |
|
1,167 |
|
2,255 |
|
Operating income margin in % |
|
12.5 |
% |
11.9 |
% |
14.5 |
% |
14.3 |
% |
14.3 |
% |
14.1 |
% |
15.4 |
% |
150.0 |
% |
13.5 |
% |
13.1 |
% |
13.8 |
% |
13.5 |
% |
14.2 |
% |
Delivered EBIT in million |
|
403 |
|
283 |
|
509 |
|
373 |
|
532 |
|
403 |
|
595 |
|
-8,976 |
|
912 |
|
656 |
|
1,444 |
|
1,059 |
|
2,040 |
|
Days sales outstanding (DSO) |
|
74 |
|
74 |
|
|
|
|
|
|
|
|
|
|
|
|
|
73 |
|
73 |
|
72 |
|
72 |
|
72 |
|
Employees (full-time equivalents) |
|
91,542 |
|
91,542 |
|
|
|
|
|
|
|
|
|
|
|
|
|
94,401 |
|
94,401 |
|
97,327 |
|
97,327 |
|
99,895 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
2,393 |
|
1,793 |
|
2,521 |
|
1,886 |
|
2,710 |
|
2,101 |
|
2,876 |
|
2,352 |
|
4,914 |
|
3,679 |
|
7,624 |
|
5,780 |
|
10,500 |
|
Operating income (EBIT) in million |
|
336 |
|
249 |
|
401 |
|
293 |
|
413 |
|
312 |
|
493 |
|
392 |
|
736 |
|
542 |
|
1,149 |
|
854 |
|
1,643 |
|
Operating income margin in % |
|
14.0 |
% |
13.9 |
% |
15.9 |
% |
15.5 |
% |
15.2 |
% |
14.8 |
% |
17.2 |
% |
16.7 |
% |
15.0 |
% |
14.7 |
% |
15.1 |
% |
14.8 |
% |
15.6 |
% |
Delivered EBIT in million |
|
295 |
|
220 |
|
355 |
|
260 |
|
358 |
|
270 |
|
428 |
|
341 |
|
651 |
|
480 |
|
1,008 |
|
750 |
|
1,436 |
|
Days sales outstanding (DSO) |
|
56 |
|
56 |
|
|
|
|
|
|
|
|
|
|
|
|
|
54 |
|
54 |
|
52 |
|
52 |
|
50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per dialysis treatment |
|
339 |
|
|
|
338 |
|
|
|
342 |
|
|
|
346 |
|
|
|
339 |
|
|
|
340 |
|
|
|
342 |
|
Cost per dialysis treatment |
|
285 |
|
|
|
277 |
|
|
|
280 |
|
|
|
277 |
|
|
|
281 |
|
|
|
280 |
|
|
|
280 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EMEA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
732 |
|
535 |
|
790 |
|
576 |
|
784 |
|
591 |
|
766 |
|
611 |
|
1,522 |
|
1,111 |
|
2,306 |
|
1,702 |
|
3,072 |
|
Operating income (EBIT) in million |
|
128 |
|
94 |
|
168 |
|
124 |
|
151 |
|
114 |
|
143 |
|
115 |
|
296 |
|
217 |
|
447 |
|
332 |
|
590 |
|
Operating income margin in % |
|
17.5 |
% |
17.5 |
% |
21.3 |
% |
21.5 |
% |
19.2 |
% |
19.3 |
% |
18.7 |
% |
18.7 |
% |
19.5 |
% |
19.6 |
% |
19.4 |
% |
19.5 |
% |
19.2 |
% |
Delivered EBIT in million |
|
127 |
|
93 |
|
168 |
|
123 |
|
150 |
|
114 |
|
142 |
|
114 |
|
294 |
|
216 |
|
445 |
|
331 |
|
587 |
|
Days sales outstanding (DSO) |
|
97 |
|
97 |
|
|
|
|
|
|
|
|
|
|
|
|
|
100 |
|
100 |
|
102 |
|
102 |
|
104 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asia-Pacific |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
243 |
|
177 |
|
309 |
|
225 |
|
387 |
|
290 |
|
419 |
|
329 |
|
552 |
|
402 |
|
938 |
|
692 |
|
1,357 |
|
Operating income (EBIT) in million |
|
33 |
|
25 |
|
55 |
|
41 |
|
90 |
|
67 |
|
100 |
|
78 |
|
89 |
|
66 |
|
179 |
|
133 |
|
279 |
|
Operating income margin in % |
|
14.0 |
% |
14.1 |
% |
17.8 |
% |
18.0 |
% |
23.3 |
% |
23.2 |
% |
23.9 |
% |
23.8 |
% |
16.2 |
% |
16.3 |
% |
19.1 |
% |
19.2 |
% |
20.6 |
% |
Delivered EBIT in million |
|
33 |
|
24 |
|
54 |
|
40 |
|
88 |
|
67 |
|
98 |
|
77 |
|
87 |
|
64 |
|
175 |
|
130 |
|
274 |
|
Days sales outstanding (DSO) |
|
123 |
|
123 |
|
|
|
|
|
|
|
|
|
|
|
|
|
111 |
|
111 |
|
115 |
|
115 |
|
124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Latin America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
186 |
|
136 |
|
198 |
|
144 |
|
215 |
|
162 |
|
237 |
|
187 |
|
384 |
|
280 |
|
599 |
|
442 |
|
836 |
|
Operating income (EBIT) in million |
|
19 |
|
13 |
|
20 |
|
14 |
|
28 |
|
21 |
|
35 |
|
27 |
|
38 |
|
28 |
|
66 |
|
48 |
|
101 |
|
Operating income margin in % |
|
10.0 |
% |
9.9 |
% |
9.9 |
% |
9.9 |
% |
12.9 |
% |
12.8 |
% |
14.9 |
% |
14.7 |
% |
9.9 |
% |
9.9 |
% |
11.0 |
% |
11.0 |
% |
12.1 |
% |
Delivered EBIT in million |
|
19 |
|
13 |
|
20 |
|
14 |
|
28 |
|
21 |
|
35 |
|
27 |
|
38 |
|
27 |
|
66 |
|
48 |
|
101 |
|
Days sales outstanding (DSO) |
|
123 |
|
123 |
|
|
|
|
|
|
|
|
|
|
|
|
|
124 |
|
124 |
|
123 |
|
123 |
|
128 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
10 |
|
7 |
|
17 |
|
13 |
|
17 |
|
13 |
|
22 |
|
17 |
|
26 |
|
20 |
|
44 |
|
33 |
|
67 |
|
Operating income (EBIT) in million |
|
(71 |
) |
(67 |
) |
(88 |
) |
(64 |
) |
(92 |
) |
(69 |
) |
(108 |
) |
(86 |
) |
(158 |
) |
(131 |
) |
(250 |
) |
(200 |
) |
(358 |
) |
Delivered EBIT in million |
|
(71 |
) |
(67 |
) |
(88 |
) |
(64 |
) |
(92 |
) |
(69 |
) |
(108 |
) |
(86 |
) |
(158 |
) |
(131 |
) |
(250 |
) |
(200 |
) |
(358 |
) |
|
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
US-GAAP |
|
IFRS (EUR) |
|
|
|
FY 2014 |
|
Q1 2015 |
|
Q1 2015 |
|
Q2 2015 |
|
Q2 2015 |
|
Q3 2015 |
|
Q3 2015 |
|
Q4 2015 |
|
Q4 2015 |
|
YTD Q2 2015 |
|
YTD Q2 2015 |
|
YTD Q3 2015 |
|
YTD Q3 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
12,145 |
|
3,960 |
|
3,611 |
|
4,199 |
|
3,894 |
|
4,231 |
|
3,900 |
|
4,348 |
|
4,050 |
|
8,159 |
|
7,505 |
|
12,390 |
|
11,405 |
|
Operating income (EBIT) in million |
|
1,693 |
|
504 |
|
453 |
|
547 |
|
501 |
|
614 |
|
560 |
|
662 |
|
615 |
|
1,051 |
|
954 |
|
1,665 |
|
1,514 |
|
Operating income margin in % |
|
13.9 |
% |
12.7 |
% |
12.5 |
% |
13.0 |
% |
12.9 |
% |
14.5 |
% |
14.4 |
% |
15.2 |
% |
15.2 |
% |
12.9 |
% |
12.7 |
% |
13.4 |
% |
13.3 |
% |
Delivered EBIT in million |
|
1,532 |
|
450 |
|
404 |
|
478 |
|
440 |
|
530 |
|
484 |
|
585 |
|
545 |
|
927 |
|
844 |
|
1,458 |
|
1,328 |
|
Days sales outstanding (DSO) |
|
72 |
|
71 |
|
71 |
|
|
|
|
|
|
|
|
|
|
|
|
|
71 |
|
71 |
|
71 |
|
71 |
|
Employees (full-time equivalents) |
|
99,895 |
|
101,543 |
|
101,543 |
|
|
|
|
|
|
|
|
|
|
|
|
|
102,893 |
|
102,893 |
|
102,591 |
|
102,591 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
8,132 |
|
2,771 |
|
2,556 |
|
2,946 |
|
2,761 |
|
3,013 |
|
2,803 |
|
3,084 |
|
2,896 |
|
5,717 |
|
5,317 |
|
8,730 |
|
8,120 |
|
Operating income (EBIT) in million |
|
1,246 |
|
340 |
|
306 |
|
428 |
|
392 |
|
515 |
|
471 |
|
514 |
|
479 |
|
768 |
|
698 |
|
1,284 |
|
1,169 |
|
Operating income margin in % |
|
15.3 |
% |
12.3 |
% |
12.0 |
% |
14.5 |
% |
14.2 |
% |
17.1 |
% |
16.8 |
% |
16.7 |
% |
16.6 |
% |
13.4 |
% |
13.1 |
% |
14.7 |
% |
14.4 |
% |
Delivered EBIT in million |
|
1,091 |
|
288 |
|
259 |
|
362 |
|
333 |
|
435 |
|
398 |
|
440 |
|
412 |
|
649 |
|
592 |
|
1,085 |
|
990 |
|
Days sales outstanding (DSO) |
|
50 |
|
52 |
|
52 |
|
|
|
|
|
|
|
|
|
|
|
|
|
51 |
|
51 |
|
52 |
|
52 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per dialysis treatment |
|
|
|
341 |
|
|
|
346 |
|
|
|
347 |
|
|
|
348 |
|
|
|
344 |
|
|
|
345 |
|
|
|
Cost per dialysis treatment |
|
|
|
288 |
|
|
|
286 |
|
|
|
272 |
|
|
|
268 |
|
|
|
287 |
|
|
|
282 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EMEA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
2,313 |
|
629 |
|
559 |
|
668 |
|
603 |
|
659 |
|
593 |
|
673 |
|
614 |
|
1,297 |
|
1,162 |
|
1,956 |
|
1,755 |
|
Operating income (EBIT) in million |
|
445 |
|
141 |
|
126 |
|
134 |
|
122 |
|
130 |
|
117 |
|
172 |
|
157 |
|
275 |
|
248 |
|
405 |
|
365 |
|
Operating income margin in % |
|
19.3 |
% |
22.5 |
% |
22.5 |
% |
20.1 |
% |
20.3 |
% |
19.7 |
% |
19.8 |
% |
25.5 |
% |
25.5 |
% |
21.2 |
% |
21.4 |
% |
20.7 |
% |
20.8 |
% |
Delivered EBIT in million |
|
444 |
|
141 |
|
125 |
|
133 |
|
122 |
|
129 |
|
116 |
|
171 |
|
156 |
|
274 |
|
247 |
|
403 |
|
364 |
|
Days sales outstanding (DSO) |
|
104 |
|
110 |
|
110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
110 |
|
110 |
|
112 |
|
112 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asia-Pacific |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
1,021 |
|
353 |
|
314 |
|
376 |
|
339 |
|
378 |
|
340 |
|
394 |
|
360 |
|
729 |
|
653 |
|
1,107 |
|
993 |
|
Operating income (EBIT) in million |
|
211 |
|
85 |
|
75 |
|
67 |
|
61 |
|
68 |
|
61 |
|
79 |
|
73 |
|
152 |
|
136 |
|
219 |
|
197 |
|
Operating income margin in % |
|
20.6 |
% |
23.9 |
% |
24.0 |
% |
17.8 |
% |
18.0 |
% |
17.9 |
% |
18.0 |
% |
20.0 |
% |
20.1 |
% |
20.8 |
% |
20.9 |
% |
19.8 |
% |
19.9 |
% |
Delivered EBIT in million |
|
206 |
|
83 |
|
74 |
|
65 |
|
59 |
|
65 |
|
59 |
|
77 |
|
71 |
|
148 |
|
133 |
|
213 |
|
192 |
|
Days sales outstanding (DSO) |
|
124 |
|
112 |
|
112 |
|
|
|
|
|
|
|
|
|
|
|
|
|
113 |
|
113 |
|
111 |
|
111 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Latin America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
629 |
|
198 |
|
176 |
|
203 |
|
183 |
|
176 |
|
158 |
|
190 |
|
174 |
|
401 |
|
359 |
|
576 |
|
517 |
|
Operating income (EBIT) in million |
|
76 |
|
18 |
|
16 |
|
16 |
|
14 |
|
(8 |
) |
(7 |
) |
23 |
|
21 |
|
34 |
|
30 |
|
25 |
|
23 |
|
Operating income margin in % |
|
12.1 |
% |
9.0 |
% |
9.1 |
% |
7.8 |
% |
7.7 |
% |
-4.7 |
% |
-4.7 |
% |
12.0 |
% |
11.9 |
% |
8.4 |
% |
8.4 |
% |
4.4 |
% |
4.4 |
% |
Delivered EBIT in million |
|
76 |
|
18 |
|
16 |
|
16 |
|
14 |
|
(8 |
) |
(7 |
) |
23 |
|
21 |
|
34 |
|
30 |
|
25 |
|
22 |
|
Days sales outstanding (DSO) |
|
128 |
|
133 |
|
133 |
|
|
|
|
|
|
|
|
|
|
|
|
|
135 |
|
135 |
|
132 |
|
132 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
50 |
|
9 |
|
6 |
|
6 |
|
8 |
|
5 |
|
6 |
|
7 |
|
6 |
|
15 |
|
14 |
|
21 |
|
20 |
|
Operating income (EBIT) in million |
|
(285 |
) |
(80 |
) |
(70 |
) |
(98 |
) |
(88 |
) |
(91 |
) |
(82 |
) |
(126 |
) |
(115 |
) |
(178 |
) |
(158 |
) |
(268 |
) |
(240 |
) |
Delivered EBIT in million |
|
(285 |
) |
(80 |
) |
(70 |
) |
(98 |
) |
(88 |
) |
(91 |
) |
(82 |
) |
(126 |
) |
(115 |
) |
(178 |
) |
(158 |
) |
(268 |
) |
(240 |
) |
|
|
|
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
|
|
|
|
FY 2015 |
|
FY 2015 |
|
Q1 2016 |
|
Q1 2016 |
|
Q2 2016 |
|
Q2 2016 |
|
Q3 2016 |
|
Q3 2016 |
|
YTD Q2 2016 |
|
YTD Q2 2016 |
|
YTD Q3 2016 |
|
YTD Q3 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
|
|
16,738 |
|
15,455 |
|
4,205 |
|
3,916 |
|
4,420 |
|
4,026 |
|
4,598 |
|
4,211 |
|
8,626 |
|
7,942 |
|
13,224 |
|
12,153 |
|
Operating income (EBIT) in million |
|
|
|
2,327 |
|
2,129 |
|
540 |
|
497 |
|
641 |
|
571 |
|
670 |
|
611 |
|
1,181 |
|
1,068 |
|
1,851 |
|
1,679 |
|
Operating income margin in % |
|
|
|
13.9 |
% |
13.8 |
% |
12.8 |
% |
12.7 |
% |
14.5 |
% |
14.2 |
% |
14.6 |
% |
14.5 |
% |
13.7 |
% |
13.5 |
% |
14.0 |
% |
13.8 |
% |
Delivered EBIT in million |
|
|
|
2,043 |
|
1,873 |
|
471 |
|
435 |
|
565 |
|
503 |
|
597 |
|
546 |
|
1,036 |
|
938 |
|
1,634 |
|
1,484 |
|
Days sales outstanding (DSO) |
|
|
|
71 |
|
71 |
|
74 |
|
74 |
|
|
|
|
|
|
|
|
|
70 |
|
70 |
|
72 |
|
72 |
|
Employees (full-time equivalents) |
|
|
|
104,033 |
|
104,033 |
|
104,687 |
|
104,687 |
|
|
|
|
|
|
|
|
|
106,556 |
|
106,556 |
|
108,851 |
|
108,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
|
|
11,813 |
|
11,016 |
|
3,044 |
|
2,862 |
|
3,168 |
|
2,916 |
|
3,300 |
|
3,050 |
|
6,212 |
|
5,778 |
|
9,512 |
|
8,828 |
|
Operating income (EBIT) in million |
|
|
|
1,798 |
|
1,648 |
|
436 |
|
402 |
|
513 |
|
456 |
|
536 |
|
490 |
|
949 |
|
858 |
|
1,486 |
|
1,348 |
|
Operating income margin in % |
|
|
|
15.2 |
% |
15.0 |
% |
14.3 |
% |
14.0 |
% |
16.2 |
% |
15.7 |
% |
16.2 |
% |
16.1 |
% |
15.3 |
% |
14.9 |
% |
15.6 |
% |
15.3 |
% |
Delivered EBIT in million |
|
|
|
1,524 |
|
1,402 |
|
370 |
|
342 |
|
439 |
|
391 |
|
466 |
|
427 |
|
809 |
|
733 |
|
1,276 |
|
1,159 |
|
Days sales outstanding (DSO) |
|
|
|
53 |
|
53 |
|
60 |
|
60 |
|
|
|
|
|
|
|
|
|
54 |
|
54 |
|
55 |
|
55 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per dialysis treatment |
|
|
|
346 |
|
|
|
348 |
|
|
|
352 |
|
|
|
350 |
|
|
|
350 |
|
|
|
350 |
|
|
|
Cost per dialysis treatment |
|
|
|
279 |
|
|
|
281 |
|
|
|
282 |
|
|
|
278 |
|
|
|
282 |
|
|
|
281 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EMEA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
|
|
2,629 |
|
2,369 |
|
631 |
|
572 |
|
676 |
|
599 |
|
675 |
|
605 |
|
1,307 |
|
1,171 |
|
1,982 |
|
1,776 |
|
Operating income (EBIT) in million |
|
|
|
577 |
|
522 |
|
130 |
|
118 |
|
139 |
|
124 |
|
125 |
|
113 |
|
269 |
|
242 |
|
395 |
|
354 |
|
Operating income margin in % |
|
|
|
21.9 |
% |
22.0 |
% |
20.6 |
% |
20.6 |
% |
20.6 |
% |
20.7 |
% |
18.5 |
% |
18.6 |
% |
20.6 |
% |
20.6 |
% |
19.9 |
% |
19.9 |
% |
Delivered EBIT in million |
|
|
|
574 |
|
519 |
|
129 |
|
117 |
|
139 |
|
123 |
|
124 |
|
112 |
|
267 |
|
240 |
|
393 |
|
352 |
|
Days sales outstanding (DSO) |
|
|
|
104 |
|
104 |
|
104 |
|
104 |
|
|
|
|
|
|
|
|
|
105 |
|
105 |
|
108 |
|
108 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asia-Pacific |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
|
|
1,502 |
|
1,353 |
|
374 |
|
340 |
|
397 |
|
351 |
|
427 |
|
383 |
|
771 |
|
691 |
|
1,198 |
|
1,074 |
|
Operating income (EBIT) in million |
|
|
|
298 |
|
270 |
|
65 |
|
59 |
|
75 |
|
67 |
|
85 |
|
76 |
|
140 |
|
126 |
|
225 |
|
202 |
|
Operating income margin in % |
|
|
|
19.8 |
% |
19.9 |
% |
17.4 |
% |
17.5 |
% |
18.9 |
% |
19.0 |
% |
19.8 |
% |
19.9 |
% |
18.2 |
% |
18.2 |
% |
18.7 |
% |
18.8 |
% |
Delivered EBIT in million |
|
|
|
291 |
|
263 |
|
63 |
|
58 |
|
73 |
|
65 |
|
83 |
|
75 |
|
137 |
|
123 |
|
220 |
|
198 |
|
Days sales outstanding (DSO) |
|
|
|
113 |
|
113 |
|
104 |
|
104 |
|
|
|
|
|
|
|
|
|
103 |
|
103 |
|
110 |
|
110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Latin America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
|
|
766 |
|
691 |
|
153 |
|
139 |
|
175 |
|
155 |
|
192 |
|
172 |
|
328 |
|
294 |
|
520 |
|
466 |
|
Operating income (EBIT) in million |
|
|
|
48 |
|
44 |
|
11 |
|
10 |
|
16 |
|
14 |
|
20 |
|
18 |
|
27 |
|
24 |
|
47 |
|
42 |
|
Operating income margin in % |
|
|
|
6.3 |
% |
6.3 |
% |
7.1 |
% |
7.0 |
% |
9.3 |
% |
9.3 |
% |
10.5 |
% |
10.4 |
% |
8.3 |
% |
8.2 |
% |
9.1 |
% |
9.0 |
% |
Delivered EBIT in million |
|
|
|
48 |
|
44 |
|
11 |
|
10 |
|
16 |
|
14 |
|
20 |
|
18 |
|
27 |
|
24 |
|
47 |
|
42 |
|
Days sales outstanding (DSO) |
|
|
|
141 |
|
141 |
|
148 |
|
148 |
|
|
|
|
|
|
|
|
|
147 |
|
147 |
|
144 |
|
144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in million |
|
|
|
28 |
|
26 |
|
3 |
|
3 |
|
4 |
|
5 |
|
4 |
|
1 |
|
8 |
|
8 |
|
12 |
|
9 |
|
Operating income (EBIT) in million |
|
|
|
(394 |
) |
(355 |
) |
(102 |
) |
(92 |
) |
(102 |
) |
(90 |
) |
(96 |
) |
(86 |
) |
(204 |
) |
(182 |
) |
(302 |
) |
(267 |
) |
Delivered EBIT in million |
|
|
|
(394 |
) |
(355 |
) |
(102 |
) |
(92 |
) |
(102 |
) |
(90 |
) |
(96 |
) |
(86 |
) |
(204 |
) |
(182 |
) |
(302 |
) |
(267 |
) |
Key metrics North America segment
in million / percent |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
|
|
FY 2014 |
|
FY 2014 |
|
FY 2014 |
|
FY 2015 |
|
FY 2015 |
|
FY 2015 |
|
9M 2016 |
|
9M 2016 |
|
9M 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Care Coordination |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
1,039 |
|
782 |
|
804 |
|
1,882 |
|
1,696 |
|
1,798 |
|
1,704 |
|
1,527 |
|
1,615 |
|
Operating income (EBIT) |
|
77 |
|
58 |
|
58 |
|
97 |
|
88 |
|
90 |
|
66 |
|
59 |
|
59 |
|
Operating income margin in % |
|
7.4 |
% |
7.4 |
% |
7.2 |
% |
5.2 |
% |
5.2 |
% |
5.0 |
% |
3.9 |
% |
3.9 |
% |
3.6 |
% |
Delivered EBIT |
|
57 |
|
43 |
|
43 |
|
57 |
|
52 |
|
54 |
|
44 |
|
39 |
|
39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dialysis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
9,461 |
|
7,122 |
|
7,328 |
|
9,931 |
|
8,951 |
|
9,218 |
|
7,808 |
|
6,995 |
|
7,213 |
|
Operating income (EBIT) |
|
1,566 |
|
1,179 |
|
1,188 |
|
1,701 |
|
1,532 |
|
1,558 |
|
1,420 |
|
1,272 |
|
1,289 |
|
Operating income margin in % |
|
16.5 |
% |
16.5 |
% |
16.2 |
% |
17.1 |
% |
17.1 |
% |
16.9 |
% |
18.2 |
% |
18.2 |
% |
17.9 |
% |
Delivered EBIT |
|
1,379 |
|
1,038 |
|
1,048 |
|
1,467 |
|
1,322 |
|
1,348 |
|
1,232 |
|
1,104 |
|
1,120 |
|
Key metrics North America segment
in million / percent |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
|
|
Q1 2014 |
|
Q1 2014 |
|
Q2 2014 |
|
Q2 2014 |
|
Q3 2014 |
|
Q3 2014 |
|
Q4 2014 |
|
Q4 2014 |
|
YTD Q2 2014 |
|
YTD Q2 2014 |
|
YTD Q3 2014 |
|
YTD Q3 2014 |
|
FY 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Care Coordination |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
149 |
|
110 |
|
188 |
|
138 |
|
307 |
|
238 |
|
395 |
|
318 |
|
337 |
|
248 |
|
644 |
|
486 |
|
1,039 |
|
Operating income (EBIT) |
|
13 |
|
9 |
|
17 |
|
13 |
|
17 |
|
13 |
|
30 |
|
23 |
|
30 |
|
22 |
|
47 |
|
35 |
|
77 |
|
Operating income margin in % |
|
8.6 |
% |
8.5 |
% |
9.1 |
% |
9.1 |
% |
5.6 |
% |
5.4 |
% |
7.6 |
% |
7.4 |
% |
8.9 |
% |
8.8 |
% |
7.3 |
% |
7.2 |
% |
7.4 |
% |
Delivered EBIT |
|
10 |
|
8 |
|
14 |
|
10 |
|
13 |
|
10 |
|
19 |
|
15 |
|
25 |
|
18 |
|
38 |
|
28 |
|
57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dialysis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
2,244 |
|
1,683 |
|
2,333 |
|
1,748 |
|
2,403 |
|
1,863 |
|
2,481 |
|
2,034 |
|
4,577 |
|
3,431 |
|
6,980 |
|
5,294 |
|
9,461 |
|
Operating income (EBIT) |
|
323 |
|
240 |
|
384 |
|
280 |
|
396 |
|
299 |
|
463 |
|
369 |
|
706 |
|
520 |
|
1,102 |
|
819 |
|
1,566 |
|
Operating income margin in % |
|
14.4 |
% |
14.3 |
% |
16.4 |
% |
16.0 |
% |
16.5 |
% |
16.0 |
% |
18.7 |
% |
18.2 |
% |
15.4 |
% |
15.2 |
% |
15.8 |
% |
15.5 |
% |
16.5 |
% |
Delivered EBIT |
|
285 |
|
212 |
|
341 |
|
250 |
|
345 |
|
260 |
|
409 |
|
326 |
|
626 |
|
462 |
|
970 |
|
722 |
|
1,379 |
|
in million / percent |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
|
|
FY 2014 |
|
Q1 2015 |
|
Q1 2015 |
|
Q2 2015 |
|
Q2 2015 |
|
Q3 2015 |
|
Q3 2015 |
|
Q4 2015 |
|
Q4 2015 |
|
YTD Q2 2015 |
|
YTD Q2 2015 |
|
YTD Q3 2015 |
|
YTD Q3 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Care Coordination |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
804 |
|
434 |
|
413 |
|
468 |
|
450 |
|
480 |
|
454 |
|
501 |
|
481 |
|
902 |
|
863 |
|
1,382 |
|
1,317 |
|
Operating income (EBIT) |
|
58 |
|
15 |
|
14 |
|
37 |
|
33 |
|
33 |
|
31 |
|
13 |
|
13 |
|
52 |
|
47 |
|
85 |
|
78 |
|
Operating income margin in % |
|
7.2 |
% |
3.5 |
% |
3.3 |
% |
7.8 |
% |
7.3 |
% |
6.8 |
% |
6.8 |
% |
2.5 |
% |
2.6 |
% |
5.8 |
% |
5.4 |
% |
6.1 |
% |
5.9 |
% |
Delivered EBIT |
|
43 |
|
6 |
|
5 |
|
24 |
|
21 |
|
22 |
|
22 |
|
5 |
|
6 |
|
30 |
|
27 |
|
52 |
|
48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dialysis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
7,328 |
|
2,337 |
|
2,143 |
|
2,478 |
|
2,311 |
|
2,533 |
|
2,349 |
|
2,583 |
|
2,415 |
|
4,815 |
|
4,454 |
|
7,348 |
|
6,803 |
|
Operating income (EBIT) |
|
1,188 |
|
325 |
|
292 |
|
391 |
|
359 |
|
482 |
|
440 |
|
501 |
|
466 |
|
716 |
|
651 |
|
1,199 |
|
1,091 |
|
Operating income margin in % |
|
16.2 |
% |
13.9 |
% |
13.6 |
% |
15.8 |
% |
15.6 |
% |
19.1 |
% |
18.7 |
% |
19.4 |
% |
19.3 |
% |
14.9 |
% |
14.6 |
% |
16.3 |
% |
16.0 |
% |
Delivered EBIT |
|
1,048 |
|
282 |
|
254 |
|
338 |
|
312 |
|
413 |
|
376 |
|
435 |
|
406 |
|
619 |
|
565 |
|
1,033 |
|
942 |
|
in million / percent |
|
|
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
|
|
|
|
FY 2015 |
|
FY 2015 |
|
Q1 2016 |
|
Q1 2016 |
|
Q2 2016 |
|
Q2 2016 |
|
Q3 2016 |
|
Q3 2016 |
|
YTD Q2 2016 |
|
YTD Q2 2016 |
|
YTD Q3 2016 |
|
YTD Q3 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Care Coordination |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
|
|
1,882 |
|
1,798 |
|
522 |
|
499 |
|
564 |
|
528 |
|
618 |
|
588 |
|
1,086 |
|
1,027 |
|
1,704 |
|
1,615 |
|
Operating income (EBIT) |
|
|
|
97 |
|
90 |
|
10 |
|
11 |
|
25 |
|
17 |
|
31 |
|
30 |
|
35 |
|
28 |
|
66 |
|
59 |
|
Operating income margin in % |
|
|
|
5.2 |
% |
5.0 |
% |
2.0 |
% |
2.2 |
% |
4.4 |
% |
3.3 |
% |
5.0 |
% |
5.1 |
% |
3.2 |
% |
2.8 |
% |
3.9 |
% |
3.6 |
% |
Delivered EBIT |
|
|
|
57 |
|
54 |
|
2 |
|
3 |
|
17 |
|
10 |
|
26 |
|
26 |
|
18 |
|
13 |
|
44 |
|
39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dialysis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
|
|
9,931 |
|
9,218 |
|
2,522 |
|
2,363 |
|
2,604 |
|
2,388 |
|
2,682 |
|
2,462 |
|
5,126 |
|
4,751 |
|
7,808 |
|
7,213 |
|
Operating income (EBIT) |
|
|
|
1,701 |
|
1,558 |
|
426 |
|
391 |
|
488 |
|
439 |
|
505 |
|
460 |
|
914 |
|
830 |
|
1,420 |
|
1,289 |
|
Operating income margin in % |
|
|
|
17.1 |
% |
16.9 |
% |
16.9 |
% |
16.5 |
% |
18.7 |
% |
18.4 |
% |
18.8 |
% |
18.7 |
% |
17.8 |
% |
17.5 |
% |
18.2 |
% |
17.9 |
% |
Delivered EBIT |
|
|
|
1,467 |
|
1,348 |
|
368 |
|
339 |
|
422 |
|
381 |
|
440 |
|
401 |
|
791 |
|
720 |
|
1,232 |
|
1,120 |
|
Balance sheet |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
US-GAAP |
|
IFRS |
|
in million, except debt/EBITDA ratio |
|
December 31 |
|
December 31 |
|
December 31 |
|
December 31 |
|
December 31 |
|
December 31 |
|
December 31 |
|
December 31 |
|
December 31 |
|
December 31 |
|
December 31 |
|
December 31 |
|
September 30 |
|
September 30 |
|
September 30 |
|
|
|
2012 (1) (2) |
|
2012 |
|
2012 (3) (4) |
|
2013 (1) (2) |
|
2013 |
|
2013 (3) (4) |
|
2014 (1) (2) |
|
2014 |
|
2014 (3) (4) |
|
2015(1) |
|
2015 |
|
2015 (4) |
|
2016 |
|
2016 |
|
2016 |
|
|
|
(audited) |
|
(audited) |
|
(audited) |
|
(audited) |
|
(audited) |
|
(audited) |
|
(audited) |
|
(audited) |
|
(audited) |
|
(audited) |
|
(audited) |
|
(audited) |
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
5,853 |
|
4,436 |
|
4,402 |
|
6,001 |
|
4,351 |
|
4,323 |
|
6,473 |
|
5,331 |
|
5,291 |
|
6,768 |
|
6,217 |
|
6,172 |
|
7,218 |
|
6,468 |
|
6,418 |
|
Goodwill and Intangible assets |
|
12,132 |
|
9,195 |
|
9,195 |
|
12,416 |
|
9,003 |
|
9,001 |
|
13,951 |
|
11,491 |
|
11,486 |
|
13,863 |
|
12,734 |
|
12,724 |
|
14,307 |
|
12,818 |
|
12,809 |
|
Other non-current assets |
|
4,013 |
|
3,041 |
|
3,138 |
|
4,382 |
|
3,178 |
|
3,195 |
|
4,746 |
|
3,909 |
|
3,896 |
|
4,734 |
|
4,347 |
|
4,350 |
|
5,133 |
|
4,599 |
|
4,607 |
|
Total assets |
|
21,998 |
|
16,672 |
|
16,735 |
|
22,799 |
|
16,532 |
|
16,519 |
|
25,170 |
|
20,731 |
|
20,673 |
|
25,365 |
|
23,298 |
|
23,246 |
|
26,658 |
|
23,885 |
|
23,834 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
3,140 |
|
2,380 |
|
2,486 |
|
3,520 |
|
2,552 |
|
2,713 |
|
3,442 |
|
2,835 |
|
3,027 |
|
4,149 |
|
3,811 |
|
4,139 |
|
5,254 |
|
4,707 |
|
5,099 |
|
Long-term liabilities |
|
9,128 |
|
6,917 |
|
7,129 |
|
9,146 |
|
6,632 |
|
6,815 |
|
10,875 |
|
8,957 |
|
9,258 |
|
9,692 |
|
8,901 |
|
9,301 |
|
8,943 |
|
8,014 |
|
8,498 |
|
Noncontrolling interests subject to put provisions and other temporary equity |
|
523 |
|
397 |
|
0 |
|
648 |
|
470 |
|
0 |
|
825 |
|
679 |
|
0 |
|
1,028 |
|
945 |
|
0 |
|
1,223 |
|
1,095 |
|
0 |
|
Total equity |
|
9,207 |
|
6,978 |
|
7,120 |
|
9,485 |
|
6,878 |
|
6,991 |
|
10,028 |
|
8,260 |
|
8,388 |
|
10,496 |
|
9,641 |
|
9,806 |
|
11,238 |
|
10,069 |
|
10,237 |
|
Total liabilities and equity |
|
21,998 |
|
16,672 |
|
16,735 |
|
22,799 |
|
16,532 |
|
16,519 |
|
25,170 |
|
20,731 |
|
20,673 |
|
25,365 |
|
23,298 |
|
23,246 |
|
26,658 |
|
23,885 |
|
23,834 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity/assets ratio |
|
42 |
% |
42 |
% |
43 |
% |
42 |
% |
42 |
% |
42 |
% |
40 |
% |
40 |
% |
41 |
% |
41 |
% |
41 |
% |
42 |
% |
42 |
% |
42 |
% |
43 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term debt |
|
118 |
|
89 |
|
89 |
|
97 |
|
70 |
|
77 |
|
133 |
|
110 |
|
112 |
|
109 |
|
100 |
|
101 |
|
721 |
|
646 |
|
647 |
|
Short-term debt from related parties |
|
4 |
|
3 |
|
3 |
|
62 |
|
45 |
|
45 |
|
5 |
|
4 |
|
4 |
|
19 |
|
18 |
|
18 |
|
99 |
|
88 |
|
88 |
|
Current portion of long-term debt and capital lease obligations |
|
335 |
|
254 |
|
254 |
|
511 |
|
371 |
|
371 |
|
314 |
|
258 |
|
258 |
|
664 |
|
610 |
|
610 |
|
891 |
|
799 |
|
799 |
|
Long-term debt and capital lease obligations, less current portion |
|
7,709 |
|
5,843 |
|
5,843 |
|
7,682 |
|
5,570 |
|
5,570 |
|
9,014 |
|
7,425 |
|
7,425 |
|
7,854 |
|
7,214 |
|
7,214 |
|
7,174 |
|
6,428 |
|
6,428 |
|
Long-term debt from related parties |
|
56 |
|
43 |
|
43 |
|
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
|
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Total debt |
|
8,222 |
|
6,232 |
|
6,232 |
|
8,352 |
|
6,056 |
|
6,063 |
|
9,466 |
|
7,797 |
|
7,799 |
|
8,646 |
|
7,942 |
|
7,943 |
|
8,885 |
|
7,961 |
|
7,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt/EBITDA ratio |
|
2.8 |
|
2.8 |
|
2.8 |
|
2.8 |
|
2.8 |
|
2.9 |
|
3.0 |
|
3.0 |
|
3.1 |
|
2.8 |
|
2.8 |
|
2.7 |
|
2.6 |
|
2.6 |
|
2.6 |
|
(1) In accordance with ASU 2015-17 (Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes) deferred taxes previously recorded in current assets and liabilities have been reclassified to noncurrent assets and liabilities. Current assets were reduced by $268 M, $279 M, $245 M, $216 M as per December 31, 2012, 2013, 2014 and 2015 respectively. Current liabilities were reduced by $30 M, $34 M, $35 M, $36 M as per December 31, 2012, 2013, 2014 and 2015 respectively. As a result of deferred tax netting, non-current assets and liabilities were then adjusted in the amount of $251 M, $256 M, $211 M, $168 M as per December 31, 2012, 2013, 2014 and 2015 respectively .
(2) Under US GAAP debt issuance costs have been reclassified from current assets and other non-current assets to long-term liabilities in the amount of $77 M, $65 M and $66 M as per December 31, 2012, 2013 and 2014 respectively to conform to the current year´s presentation.
(3) In oder to conform with current years presentation, debt issuance costs under IFRS have been reclassified from current portion of long-term debt and capital lease obligation into long-term debt and capital lease obligations, less current portion in the amount of 5 M, 5 M and 5 M as per December 31, 2012, 2013 and 2014 respectively. Current liabilities and long-term liabilities were adjusted accordingly.
(4) In order to conform with current years presentation, deferred tax netting under IFRS has been adjusted as per December 31, 2012, 2013, 2014 and 2015. As a result non-current assets and liabilities were reduced in the amount of 182 M, 185 M, 174 M and 154 M as per December 31, 2012, 2013, 2014 and 2015 respectively.
Cash flow statement
in million/percent |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
|
|
FY 2012 |
|
FY 2012 |
|
FY 2012 |
|
FY 2013 |
|
FY 2013 |
|
FY 2013 |
|
FY 2014 |
|
FY 2014 |
|
Operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
1,328 |
|
1,033 |
|
1,034 |
|
1,255 |
|
945 |
|
920 |
|
1,260 |
|
947 |
|
Depreciation / amortization |
|
602 |
|
469 |
|
471 |
|
648 |
|
488 |
|
490 |
|
699 |
|
526 |
|
Investment gain |
|
-140 |
|
-109 |
|
-109 |
|
|
|
|
|
|
|
|
|
|
|
Change in working capital and other non-cash items |
|
249 |
|
194 |
|
191 |
|
132 |
|
99 |
|
122 |
|
(98 |
) |
(72 |
) |
Net cash provided by operating activities |
|
2,039 |
|
1,587 |
|
1,587 |
|
2,035 |
|
1,532 |
|
1,532 |
|
1,861 |
|
1,401 |
|
In percent of revenue |
|
14.8 |
% |
14.8 |
% |
14.5 |
% |
13.9 |
% |
13.9 |
% |
13.7 |
% |
11.8 |
% |
11.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
|
(675 |
) |
(526 |
) |
(526 |
) |
(748 |
) |
(563 |
) |
(563 |
) |
(932 |
) |
(701 |
) |
Proceeds from sale of property, plant and equipment |
|
9 |
|
8 |
|
8 |
|
20 |
|
15 |
|
15 |
|
12 |
|
8 |
|
Capital expenditures, net |
|
(666 |
) |
(518 |
) |
(518 |
) |
(728 |
) |
(548 |
) |
(548 |
) |
(920 |
) |
(693 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Free cash flow |
|
1,373 |
|
1,069 |
|
1,069 |
|
1,307 |
|
984 |
|
984 |
|
941 |
|
708 |
|
In percent of revenue |
|
10.0 |
% |
10.0 |
% |
9.8 |
% |
8.9 |
% |
8.9 |
% |
8.8 |
% |
5.9 |
% |
5.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisitions and investments, net of cash acquired, and purchases of intangible assets |
|
(1,879 |
) |
(1,403 |
) |
(1,402 |
) |
(496 |
) |
(373 |
) |
(373 |
) |
(1,779 |
) |
(1,339 |
) |
Proceeds from divestitures |
|
264 |
|
205 |
|
205 |
|
18 |
|
14 |
|
14 |
|
9 |
|
7 |
|
Acquisitions and investments, net of divestitures |
|
(1,615 |
) |
(1,198 |
) |
(1,197 |
) |
(478 |
) |
(359 |
) |
(359 |
) |
(1,770 |
) |
(1,332 |
) |
Free cash flow after investing activities |
|
(242 |
) |
(129 |
) |
(128 |
) |
829 |
|
625 |
|
625 |
|
(829 |
) |
(624 |
) |
in million/percent |
|
IFRS (EUR) |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
US-GAAP (USD) |
|
US-GAAP (EUR) |
|
IFRS (EUR) |
|
|
|
FY 2014 |
|
FY 2015 |
|
FY 2015 |
|
FY 2015 |
|
9M 2016 |
|
9M 2016 |
|
9M 2016 |
|
Operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
942 |
|
1,313 |
|
1,184 |
|
1,211 |
|
1,072 |
|
961 |
|
976 |
|
Depreciation / amortization |
|
528 |
|
717 |
|
647 |
|
648 |
|
573 |
|
513 |
|
513 |
|
Investment gain |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in working capital and other non-cash items |
|
(115 |
) |
(70 |
) |
(64 |
) |
(92 |
) |
(349 |
) |
(313 |
) |
(329 |
) |
Net cash provided by operating activities |
|
1,355 |
|
1,960 |
|
1,767 |
|
1,767 |
|
1,296 |
|
1,161 |
|
1,160 |
|
In percent of revenue |
|
11.2 |
% |
11.7 |
% |
11.7 |
% |
11.4 |
% |
9.8 |
% |
9.8 |
% |
9.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
|
(701 |
) |
(953 |
) |
(859 |
) |
(859 |
) |
(748 |
) |
(670 |
) |
(670 |
) |
Proceeds from sale of property, plant and equipment |
|
8 |
|
18 |
|
16 |
|
16 |
|
14 |
|
12 |
|
12 |
|
Capital expenditures, net |
|
(693 |
) |
(935 |
) |
(843 |
) |
(843 |
) |
(734 |
) |
(658 |
) |
(658 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Free cash flow |
|
662 |
|
1,025 |
|
924 |
|
924 |
|
562 |
|
503 |
|
502 |
|
In percent of revenue |
|
5.5 |
% |
6.1 |
% |
6.1 |
% |
6.0 |
% |
4.3 |
% |
4.3 |
% |
4.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisitions and investments, net of cash acquired, and purchases of intangible assets |
|
(1,293 |
) |
(317 |
) |
(286 |
) |
(286 |
) |
(387 |
) |
(346 |
) |
(346 |
) |
Proceeds from divestitures |
|
7 |
|
251 |
|
227 |
|
227 |
|
193 |
|
173 |
|
173 |
|
Acquisitions and investments, net of divestitures |
|
(1,286 |
) |
(66 |
) |
(59 |
) |
(59 |
) |
(194 |
) |
(173 |
) |
(173 |
) |
Free cash flow after investing activities |
|
(624 |
) |
959 |
|
865 |
|
865 |
|
368 |
|
330 |
|
329 |
|
in million/percent |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
|
|
Q1 2014 |
|
Q1 2014 |
|
Q2 2014 |
|
Q2 2014 |
|
Q3 2014 |
|
Q3 2014 |
|
Q4 2014 |
|
Q4 2014 |
|
YTD Q2 2014 |
|
YTD Q2 2014 |
|
YTD Q3 2014 |
|
YTD Q3 2014 |
|
Net cash provided by operating activities |
|
112 |
|
82 |
|
449 |
|
282 |
|
712 |
|
530 |
|
588 |
|
461 |
|
562 |
|
364 |
|
1,274 |
|
894 |
|
In percent of revenue |
|
3.2 |
% |
3.1 |
% |
11.7 |
% |
9.9 |
% |
17.3 |
% |
17.0 |
% |
13.6 |
% |
13.3 |
% |
7.6 |
% |
6.6 |
% |
11.1 |
% |
10.3 |
% |
Free cash flow |
|
(85 |
) |
(62 |
) |
231 |
|
123 |
|
488 |
|
362 |
|
306 |
|
239 |
|
147 |
|
61 |
|
635 |
|
423 |
|
In percent of revenue |
|
-2.4 |
% |
-2.3 |
% |
6.0 |
% |
4.3 |
% |
11.9 |
% |
11.7 |
% |
7.1 |
% |
7.0 |
% |
2.0 |
% |
1.1 |
% |
5.5 |
% |
4.9 |
% |
Capital expenditures, net |
|
(197 |
) |
(144 |
) |
(218 |
) |
(159 |
) |
(224 |
) |
(168 |
) |
(282 |
) |
(222 |
) |
(415 |
) |
(303 |
) |
(639 |
) |
(471 |
) |
Acquisitions and investments, net of divestitures |
|
(135 |
) |
(98 |
) |
(297 |
) |
(170 |
) |
(613 |
) |
(458 |
) |
(725 |
) |
(560 |
) |
(432 |
) |
(268 |
) |
(1,045 |
) |
(726 |
) |
in million/percent |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
|
|
FY 2014 |
|
FY 2014 |
|
Q1 2015 |
|
Q1 2015 |
|
Q2 2015 |
|
Q2 2015 |
|
Q3 2015 |
|
Q3 2015 |
|
Q4 2015 |
|
Q4 2015 |
|
YTD Q2 2015 |
|
YTD Q2 2015 |
|
Net cash provided by operating activities |
|
1,861 |
|
1,355 |
|
447 |
|
397 |
|
385 |
|
349 |
|
579 |
|
521 |
|
548 |
|
500 |
|
832 |
|
746 |
|
In percent of revenue |
|
11.8 |
% |
11.2 |
% |
11.3 |
% |
11.0 |
% |
9.2 |
% |
9.0 |
% |
13.7 |
% |
13.4 |
% |
12.6 |
% |
12.3 |
% |
10.2 |
% |
9.9 |
% |
Free cash flow |
|
941 |
|
662 |
|
250 |
|
222 |
|
171 |
|
155 |
|
355 |
|
319 |
|
249 |
|
228 |
|
421 |
|
377 |
|
In percent of revenue |
|
5.9 |
% |
5.5 |
% |
6.3 |
% |
6.1 |
% |
4.1 |
% |
4.0 |
% |
8.4 |
% |
8.2 |
% |
5.7 |
% |
5.6 |
% |
5.2 |
% |
5.0 |
% |
Capital expenditures, net |
|
(920 |
) |
(693 |
) |
(197 |
) |
(175 |
) |
(214 |
) |
(194 |
) |
(224 |
) |
(202 |
) |
(299 |
) |
(272 |
) |
(411 |
) |
(369 |
) |
Acquisitions and investments, net of divestitures |
|
(1,770 |
) |
(1,286 |
) |
(11 |
) |
(10 |
) |
(55 |
) |
(49 |
) |
(57 |
) |
(51 |
) |
58 |
|
51 |
|
(66 |
) |
(59 |
) |
in million/percent |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
US-GAAP |
|
IFRS |
|
|
|
YTD Q3 2015 |
|
YTD Q3 2015 |
|
FY 2015 |
|
FY 2015 |
|
Q1 2016 |
|
Q1 2016 |
|
Q2 2016 |
|
Q2 2016 |
|
Q3 2016 |
|
Q3 2016 |
|
YTD Q2 2016 |
|
YTD Q2 2016 |
|
YTD Q3 2016 |
|
YTD Q3 2016 |
|
Net cash provided by operating activities |
|
1,412 |
|
1,267 |
|
1,960 |
|
1,767 |
|
180 |
|
163 |
|
678 |
|
604 |
|
439 |
|
393 |
|
857 |
|
767 |
|
1,296 |
|
1,160 |
|
In percent of revenue |
|
11.4 |
% |
11.1 |
% |
11.7 |
% |
11.4 |
% |
4.3 |
% |
4.2 |
% |
15.3 |
% |
15.0 |
% |
9.5 |
% |
9.3 |
% |
9.9 |
% |
9.7 |
% |
9.8 |
% |
9.5 |
% |
Free cash flow |
|
776 |
|
696 |
|
1,025 |
|
924 |
|
(66 |
) |
(60 |
) |
426 |
|
381 |
|
203 |
|
181 |
|
359 |
|
321 |
|
562 |
|
502 |
|
In percent of revenue |
|
6.3 |
% |
6.1 |
% |
6.1 |
% |
6.0 |
% |
-1.6 |
% |
-1.5 |
% |
9.6 |
% |
9.5 |
% |
4.4 |
% |
4.3 |
% |
4.2 |
% |
4.0 |
% |
4.3 |
% |
4.1 |
% |
Capital expenditures, net |
|
(636 |
) |
(571 |
) |
(935 |
) |
(843 |
) |
(246 |
) |
(223 |
) |
(252 |
) |
(223 |
) |
(236 |
) |
(212 |
) |
(498 |
) |
(446 |
) |
(734 |
) |
(658 |
) |
Acquisitions and investments, net of divestitures |
|
(124 |
) |
(110 |
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(66 |
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(59 |
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(91 |
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(83 |
) |
(67 |
) |
(58 |
) |
(37 |
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(32 |
) |
(157 |
) |
(141 |
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(194 |
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(173 |
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