6-K

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 May 2022

Commission file number: 001-32749

FRESENIUS MEDICAL CARE AG & Co. KGaA

(Translation of registrant's 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 ¨

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): ¨

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): ¨

On May 4, 2022, Fresenius Medical Care AG & Co. KGaA (the “Company”) issued a Press Release announcing its first quarter results for the period ending March 31, 2022. A copy of the Press Release is furnished as Exhibit 99.1 and the corresponding financial figures as Exhibit 99.2.

The attached Press Release contains non-GAAP financial measures. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles. To supplement our first quarter 2022 consolidated financial results presented in accordance with International Financial Reporting Standards, or IFRS, we have used non-GAAP financial measures, including (a) EBITDA, or operating income excluding interest, taxes, depreciation and amortization, (b) free cash flow, (c) net leverage ratio (ratio of net debt to adjusted EBITDA) and (d) results presented in constant currency. These non-GAAP measures are provided to enhance the user’s overall understanding of our current financial performance and our prospects for the future. In addition, because we have historically reported certain non-GAAP financial measures in our financial results, we believe the inclusion of these non-IFRS financial measures provides consistency and comparability in our financial reporting to prior periods for which these non-GAAP financial measures were previously reported. These non-GAAP financial measures should not be used as a substitute for or be considered superior to GAAP financial measures. Reconciliation of the non-GAAP financial measures EBITDA, Adjusted EBITDA, Net Leverage Ratio and Free Cash Flow to the most comparable IFRS financial measures are included in the attached Financial Statements. As the reconciliation of amounts stated in Constant Currency is inherent in the disclosure included in the Press Release, we believe that a separate reconciliation would not provide any additional benefit.

The Exhibits attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.

EXHIBITS

The following exhibits are being furnished with this Report:

Exhibit 99.1 Press release issued on May 4, 2022.

Exhibit 99.2 Complete overview of the first quarter 2022.

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: May 4, 2022

Fresenius Medical Care AG & Co. KGaA,
a partnership limited by shares, represented by:
fresenius medical care management ag, its
General Partner
By:	/s/ Rice Powell
	Name:	Rice Powell
	Title:	Chief Executive Officer and Chairman of the Management Board of the General Partner
By:	/s/ Helen Giza
	Name:	Helen Giza
	Title:	Chief Financial Officer and Member of the Management Board of the General Partner

EX-99.1

Exhibit 99.1

Press Release Media contact  Matthias Link  T +49 6172 609-2872  matthias.link@fmc-ag.com   Contact for analysts
and investors  Dr. Dominik Heger  T +49 6172 609-2601  dominik.heger@fmc-ag.com   www.freseniusmedicalcare.com

May 4, 2022

Fresenius Medical Care reports first quarter results in line with its expectations despite significant headwinds

- Higher than anticipated COVID-19-related excess mortality, but declining throughout the quarter

- Earnings development affected by ongoing significantly elevated labor costs compounded by effects from Omicron in Health Care Services and by increased material and logistics costs in Health Care Products

- Earnings development in EMEA additionally impacted by the war in Ukraine

- Financial targets for FY 2022 confirmed

Rice Powell, Chief Executive Officer of Fresenius Medical Care, said: “When we see what is happening in Ukraine, it is again above all the human tragedy that leaves us deeply saddened. I am incredibly thankful and proud of all who continue to work tirelessly to ensure patient care and the holding up of our local operations under these outstandingly difficult circumstances. Although it is difficult to talk about numbers with these images in mind, I have to say that in addition, Omicron has affected the quarter heavily. This resulted in high excess mortality among our patients and significantly elevated labor costs in the U.S. to manage isolation clinics and shifts. We were able to compensate this and delivered the quarter in line with our expectations. Based on a strong decline in excess mortality in February and March, we confirm our financial targets for 2022.”

Page 1/8

Key figures (IFRS)

	Q1 2022 EUR m		Q1 2021 EUR m		Growth yoy		Growth yoy, cc
Revenue		4,548		4,210		+8%		+3%
Operating income excl. special items1		348 403		474 477		-27% -15%		-30% -19%
Net income2 excl. special items1		157 200		249 251		-37% -20%		-39% -23%
Basic EPS (EUR) excl. special items1		0.54 0.68		0.85 0.86		-37% -20%		-39% -23%

yoy = year-on-year, cc = at constant currency, EPS = earnings per share

Higher than expected COVID-19-related excess mortality at the beginning of the year

COVID-19-related excess mortality among Fresenius Medical Care’s patients amounted to approximately 2,310 in the first quarter of 2022 (Q1 2021: ~3,200; Q2 2021: ~1,900;
Q3 2021: ~2,900; Q4 2021: ~2,000³). It significantly declined in February and March in line with infection rates, but on a quarterly basis still exceeded the originally anticipated level. This resulted in an increased need for isolation clinics and shifts and limited the Company’s ability to mitigate the impacts from labor shortage and wage inflation in the U.S. market.

COVID-19-related excess mortality accumulated to approximately 9,000 patients over the past twelve months and to approximately 22,600 since the start of the pandemic.

The overall estimated adverse effect of accumulated COVID-19-related excess mortality on organic growth in the Health Care Services business amounted to around 290 basis points in the first quarter.

¹ 2021: costs related to the FME25 program; 2022: costs related to the FME25 program and impacts related to the war in Ukraine

² Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA

³ Historical excess mortality updated for late entries

Page 2/8

War in Ukraine impacting business development

The war in Ukraine is affecting Fresenius Medical Cares' dialysis operations and patient care in the country itself, but also caused higher bad debt expenses in Russia and Ukraine. The direct adverse effect of the war in Ukraine amounted to EUR 22 million at operating income level in the first quarter and is treated as a special item. Fresenius Medical Care will continue to monitor closely the potential effects of the war as well as the general impact of the challenging inflationary macroeconomic environment.

First quarter earnings development in line with expectations

Revenue increased by 8% to EUR 4,548 million (+3% at constant currency, +2% organic).

Health Care Services revenue increased by 8% to EUR 3,607 million (+3% at constant currency, +1% organic). At constant currency, this was mainly driven by organic growth, which was achieved despite the adverse impact of COVID-19, the partial reversal of an accrual related to a revenue recognition adjustment for accounts receivable in legal dispute and contributions from acquisitions.

Health Care Products revenue increased by 6% to EUR 941 million (+3% at constant currency, +3% organic). Constant currency growth was mainly driven by higher sales of in-center disposables and renal pharmaceuticals. This was partially offset by lower sales of machines for chronic treatment.

Operating income decreased by 27% to EUR 348 million (-30% at constant currency), resulting in a margin of 7.6% (Q1 2021: 11.3%). Operating income excluding special items, i.e. costs incurred for FME25 and the impacts related to the war in Ukraine, declined by 15% to EUR 403 million (-19% at constant currency), resulting in a margin of 8.9% (Q1 2021: 11.3%). At constant currency, the decline was mainly due to higher labor costs, adverse COVID-19-related effects, as well as inflationary and supply chain cost increases. These effects were only partially mitigated by the partial reversal of an accrual related to a revenue recognition adjustment for accounts receivable in legal dispute.

Net income² decreased by 37% to EUR 157 million (-39% at constant currency). Excluding special items, net income declined by 20% to EUR 200 million (-23% at constant currency), mainly due to the mentioned negative effects on operating income.

Basic earnings per share (EPS) decreased by 37% to EUR 0.54 (-39% at constant currency). EPS excluding special items declined by 20% to EUR 0.68 (-23% at constant currency).

Page 3/8

Cash flow development

In the first quarter, Fresenius Medical Care generated EUR 159 million of operating cash flow (Q1 2021: EUR 208 million), resulting in a margin of 3.5% (Q1 2021: 4.9%). The decrease was mainly due to continued recoupment of the U.S. government’s payments received in 2020 under the CARES Act and a decrease in net income, partially offset by a favorable impact from trade accounts and other receivables.

Free cash flow⁴ amounted to EUR -1 million (Q1 2021: EUR 29 million) in the first quarter, resulting in a margin of 0.0% (Q1 2021: 0.7%).

Regional developments

In North America, revenue increased by 9% to EUR 3,171 million (+2% at constant currency, +0% organic). At constant currency, this was mainly driven by organic growth in the Health Care Product business and the reversal of an accrual related to a revenue recognition adjustment for accounts receivable in legal dispute. This was partially offset by the adverse COVID-19 impact on the Health Care Services business.

Operating income in North America decreased by 24% to EUR 304 million (-29% at constant currency), resulting in a margin of 9.6% (Q1 2021: 13.7%). At constant currency, the decline in operating income was mainly due to higher labor costs, the adverse impact of COVID-19, inflationary and supply chain cost increases as well as costs related to FME25. This was only partially offset by the partial reversal of an accrual related to a revenue recognition adjustment for accounts receivable in legal dispute.

Revenue in the EMEA region increased by 1% to EUR 674 million in the first quarter (+3% at constant currency, +2% organic). At constant currency, this was mainly due to organic growth in the Health Care Services business, which was achieved despite the negative impact of COVID-19.

Operating income in EMEA decreased by 23% to EUR 61 million (-19% at constant currency), resulting in a margin of 9.1% (Q1 2021: 11.9%). The decline was mainly due to the impact related to the war in Ukraine.

In Asia-Pacific, revenue increased by 8% to EUR 507 million (+4% at constant currency, +4% organic). At constant currency, this was mainly driven by organic growth in the Health Care Products business.

Operating income increased by 16% to EUR 99 million (+14% at constant currency), resulting in a margin of 19.5% (Q1 2021: 18.1%). At constant currency, this was mainly due to a gain from the sale of clinics, favorable currency transaction effects and growth in the Health Care Products business.

⁴ Net cash provided by / used in operating activities, after capital expenditures, before acquisitions, investments, and dividends

Page 4/8

Latin America revenue increased by 15% to EUR 183 million (+15% at constant currency, +16% organic), mainly driven by strong organic growth in both the Health Care Services and Health Care Products business.

Operating income improved by 68% to EUR 11 million (+51% at constant currency), resulting in a margin of 6.1% (Q1 2021: 4.2%). This was mainly due to a favorable currency transaction effect, which was partially offset by inflationary cost increases.

Patients, clinics and employees

As of March 31, 2022, Fresenius Medical Care treated 343,493 patients in 4,153 dialysis clinics worldwide and had 122,635 employees (full-time equivalents) globally, compared to 124,995 employees as of March 31, 2021.

Outlook

Based on the results for the first quarter, which were in line with the Company’s expectations, Fresenius Medical Care confirms its financial targets for 2022. The earnings improvement will be driven by expected business growth, PPE cost reduction and FME25 savings. The Company expects revenue and net income to grow at low to mid-single digit percentage rates in FY 2022.⁵

Conference call

Fresenius Medical Care will host a conference call to discuss the results of the first quarter 2022 on May 4, 2022 at 3:30 p.m. CEST / 9:30 a.m. EDT. Details will be available on the Fresenius Medical Care website in the “Investors” section. A replay will be available shortly after the call.

Please refer to our statement of earnings included at the end of this news and to the attachments as separate PDF files for a complete overview of the results of the first quarter 2022. Our 6-K disclosure provides more details.

⁵ These targets are based on the 2021 results excluding the costs related to FME25 of EUR 49 million (for Net Income). They are based on the assumptions outlined in the Press Release on the Q4 and FY 2021 results (Feb. 22, 2022), in constant currency and exclude special items. Special items include further costs related to FME25, the impacts related to the war in Ukraine, and other effects that are unusual in nature and have not been foreseeable or not foreseeable in size or impact at the time of giving guidance.

Page 5/8

Fresenius Medical Care is the world's leading provider of products and services for individuals with renal diseases of which around 3.8 million patients worldwide regularly undergo dialysis treatment. Through its network of 4,153 dialysis clinics, Fresenius Medical Care provides dialysis treatments for approximately 343,000 patients around the globe. Fresenius Medical Care is also the leading provider of dialysis products such as dialysis machines or dialyzers. Along with its core business, the Renal Care Continuum, the Company focuses on expanding in complementary areas and in the field of critical care. Fresenius Medical Care is listed on the Frankfurt Stock Exchange (FME) and on the New York Stock Exchange (FMS).

For more information visit the Company’s 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 various factors, including, but not limited to, changes in business, economic and competitive conditions, legal changes, regulatory approvals, impacts related to COVID-19, results of clinical studies, 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. KGaA's 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.

Implementation of measures as presented herein may be subject to information and consultation procedures with works councils and other employee representative bodies, as per local laws and practice. Consultation procedures may lead to changes on proposed measures.

Page 6/8

Statement of earnings

in € million, except share data, unaudited	Three months ended March 31									Change
	2022			2021			Change			at cc
Health Care Services		3,607			3,325			8.5	%		2.6	%
Health Care Products		941			885			6.4	%		3.3	%
Revenue		4,548			4,210			8.0	%		2.7	%
Costs of revenue		3,290			3,003			9.5	%		4.1	%
Gross profit		1,258			1,207			4.3	%		-0.6	%
Selling, general and administrative		870			712			22.4	%		16.8	%
Research and development		50			49			2.1	%		-0.9	%
Income from equity method investees		(10	)		(28	)		-62.2	%		-62.0	%
Operating income		348			474			-26.7	%		-30.2	%
Operating income excl. special items		403			477			-15.4	%		-19.0	%
Interest expense, net		69			76			-9.2	%		-14.3	%
Income before taxes		279			398			-30.0	%		-33.2	%
Income tax expense		67			94			-28.9	%		-31.7	%
Net income		212			304			-30.4	%		-33.7	%
Net income attributable to noncontrolling interests		55			55			-1.7	%		-8.4	%
Net income1		157			249			-36.8	%		-39.3	%
Net income1 excl. special items		200			251			-20.1	%		-22.7	%
Weighted average number of shares		293,007,109			292,878,085
Basic earnings per share	€	0.54		€	0.85			-36.8	%		-39.4	%
Basic earnings per share excl. special items	€	0.68		€	0.86			-20.1	%		-22.8	%
In percent of revenue
Operating income margin		7.6	%		11.3	%
Operating income margin excl. special items		8.9	%		11.3	%

¹ Attributable to shareholders of FMC-AG & Co. KGaA

For a reconciliation of special items, please refer to the table at the end of the press release.

Page 7/8

Reconciliation of non-IFRS financial measures to the most directly comparable IFRS financial measures

in € million, unaudited

	Three months ended March 31
	2022		2021
Operating performance excl. special items
Revenue		4,548		4,210
Operating income		348		474
FME25 Program		33		3
Ukraine War1		22
Operating income excl. special items		403		477
Net income2		157		249
FME25 Program		24		2
Ukraine War1		19
Net income2 excl. special items		200		251

¹ Bad debt expense in Russia and Ukraine and accruals for certain risks associated with allowances on inventories related to the Ukraine War.

² Attributable to shareholders of FMC-AG & Co. KGaA

Page 8/8

EX-99.2

Exhibit 99.2

Fresenius Medical Care AG & Co. KGaA

COMPLETE OVERVIEW OF THE FIRST QUARTER 2022

May 4, 2022

Investor Relations

phone: +49 6172 609 2525

Content:
Statement of earnings	page 2
Segment information	page 3
Balance sheet	page 4
Cash flow	page 5
Revenue development	page 6
Key metrics	page 7
Quality data	page 8
Reconciliation results excl. special items	page 9
Outlook 2022	page 10

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 various factors, including, but not limited to, changes in business, economic and competitive conditions, legal changes, regulatory approvals, impacts related to COVID-19, results of clinical studies, 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. KGaA's 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.

Copyright by Fresenius Medical Care AG & Co. KGaA

 

Statement of earnings

in € million, except share data, unaudited	Three months ended March 31
	2022			2021			Change			Change at cc
Health Care Services		3,607			3,325			8.5	%		2.6	%
Health Care Products		941			885			6.4	%		3.3	%
Total revenue		4,548			4,210			8.0	%		2.7	%
Costs of revenue		3,290			3,003			9.5	%		4.1	%
Gross profit		1,258			1,207			4.3	%		-0.6	%
Selling, general and administrative		870			712			22.4	%		16.8	%
Research and development		50			49			2.1	%		-0.9	%
Income from equity method investees		(10	)		(28	)		-62.2	%		-62.0	%
Operating income		348			474			-26.7	%		-30.2	%
Operating income margin		7.6	%		11.3	%
Interest income		(14	)		(15	)		-7.5	%		-7.2	%
Interest expense		83			91			-8.9	%		-13.1	%
Interest expense, net		69			76			-9.2	%		-14.3	%
Income before taxes		279			398			-30.0	%		-33.2	%
Income tax expense		67			94			-28.9	%		-31.7	%
Net income		212			304			-30.4	%		-33.7	%
Net income attributable to noncontrolling interests		55			55			-1.7	%		-8.4	%
Net income attributable to shareholders of FMC-AG & Co. KGaA		157			249			-36.8	%		-39.3	%
Operating income		348			474			-26.7	%		-30.2	%
Depreciation, amortization and impairment loss		419			388			7.9	%		2.5	%
EBITDA		767			862			-11.1	%		-15.5	%
EBITDA margin		16.9	%		20.5	%
Weighted average number of shares		293,007,109			292,878,085
Basic earnings per share	€	0.54		€	0.85			-36.8	%		-39.4	%
Basic earnings per ADS	€	0.27		€	0.42			-36.8	%		-39.4	%

Statement of earnings page 2 of 8      May 4, 2022

 

Segment information

unaudited	Three months ended March 31
	2022			2021			Change			Change at cc
Total
Revenue in € million		4,548			4,210			8.0	%		2.7	%
Operating income in € million		348			474			-26.7	%		-30.2	%
Operating income margin		7.6	%		11.3	%
Days sales outstanding (DSO)		69			60
Employees (full-time equivalents)		122,635			124,995
North America
Revenue in € million		3,171			2,899			9.4	%		1.8	%
Operating income in € million		304			399			-23.7	%		-28.7	%
Operating income margin		9.6	%		13.7	%
Days sales outstanding (DSO)		58			43
EMEA
Revenue in € million		674			670			0.7	%		2.6	%
Operating income in € million		61			80			-23.3	%		-18.8	%
Operating income margin		9.1	%		11.9	%
Days sales outstanding (DSO)		84			85
Asia-Pacific
Revenue in € million		507			471			7.6	%		4.1	%
Operating income in € million		99			85			15.9	%		14.1	%
Operating income margin		19.5	%		18.1	%
Days sales outstanding (DSO)		95			102
Latin America
Revenue in € million		183			159			15.4	%		15.3	%
Operating income in € million		11			7			67.7	%		50.8	%
Operating income margin		6.1	%		4.2	%
Days sales outstanding (DSO)		126			128
Corporate
Revenue in € million		13			11			12.0	%		7.5	%
Operating income in € million		(127	)		(97	)		32.7	%		30.2	%

cc = constant currency. Changes in revenue, operating income, net income attributable to shareholders of FMC-AG & Co. KGaA and other items include the impact of changes in foreign currency exchange rates. We calculate these non-IFRS financial measures at constant exchange rates to show changes in our revenue, operating income, net income attributable to shareholders of FMC-AG & Co. KGaA and other items without giving effect to period-to-period currency fluctuations. Under IFRS, amounts received in local (non-euro) currency are translated into euro at the average exchange rate for the period presented. Once we translate the local currency for the constant currency, we then calculate the change, as a percentage, of the current period using the prior period exchange rates versus the prior period. The single quarter results are calculated as the variance between the current year-to-date results less the preceding quarter’s year-to-date which makes the single quarter subject to further foreign exchange fluctuation. This resulting percentage is a non-IFRS measure referring to a change as a percentage at constant currency. These currency-adjusted financial measures are identifiable by the designated term "Constant Currency".

Segment information page 3 of 8      May 4, 2022

 

Balance sheet

in € million, except for net leverage ratio, unaudited	March 31			December 31
	2022			2021
Assets
Current assets		8,039			7,967
Goodwill and intangible assets		16,109			15,821
Right of use assets		4,274			4,316
Other non-current assets		6,302			6,263
Total assets		34,724			34,367
Liabilities and equity
Current liabilities		6,377			7,258
Non-current liabilities		13,808			13,130
Total equity		14,539			13,979
Total liabilities and equity		34,724			34,367
Equity/assets ratio		42	%		41	%
Debt and lease liabilities
Short-term debt from unrelated parties		970			1,178
Short-term debt from related parties		145			78
Current portion of long-term debt		59			668
Current portion of lease liabilities from unrelated parties		650			640
Current portion of lease liabilities from related parties		22			21
Long-term debt, less current portion		7,452			6,647
Lease liabilities from unrelated parties, less current portion		3,951			3,990
Lease liabilities from related parties, less current portion		94			98
Total debt and lease liabilities		13,343			13,320
Minus: Cash and cash equivalents		(1,173	)		(1,482	)
Total net debt and lease liabilities		12,170			11,838
Reconciliation of annualized adjusted EBITDA and net leverage ratio to the most directly comparable IFRS financial measures
Net income		1,127			1,219
Income tax expense		326			353
Interest income		(72	)		(73	)
Interest expense		345			353
Depreciation and amortization		1,611			1,586
Adjustments1		173			125
Annualized adjusted EBITDA		3,510			3,563
Net leverage ratio		3.5			3.3

¹ Acquisitions and divestitures made for the last twelve months with a purchase price above a €50 M threshold as defined in the Syndicated Credit Facility (2022: €9 M; 2021: €13 M), non-cash charges, primarily related to pension expense (2022: €50 M; 2021: €49 M), impairment loss (2022: €43 M; 2021: €38 M), as well as costs related to the FME25 Program (2022: € 50M; 2021: €25 M) and the impacts related to the War in Ukraine (2022: €21 M).

Balance sheet page 4 of 8      May 4, 2022

Cash flow statement

in € million, unaudited	Three months ended March 31
	2022			2021
Operating activities
Net income		212			304
Depreciation / amortization / impairment loss		419			388
Change in working capital and other non-cash items		(472	)		(484	)
Net cash provided by (used in) operating activities		159			208
In percent of revenue		3.5	%		4.9	%
Investing activities
Purchases of property, plant and equipment and capitalized development costs		(162	)		(184	)
Proceeds from sale of property, plant and equipment		2			5
Capital expenditures, net		(160	)		(179	)
Free cash flow		(1	)		29
In percent of revenue		0.0	%		0.7	%
Acquisitions and investments, net of cash acquired, and purchases of intangible assests		(36	)		(106	)
Investments in debt securities		(43	)		(11	)
Proceeds from divestitures		14			2
Proceeds from sale of debt securities		13			70
Free cash flow after investing activities		(53	)		(16	)

Cash flow page 5 of 8      May 4, 2022

 

Revenue development

														Same
														market
								Change			Organic			treatment
in € million, unaudited	2022		2021		Change			at cc			growth			growth1
Three months ended March 31,
Total revenue		4,548		4,210		8.0	%		2.7	%		1.5	%
Health Care Services		3,607		3,325		8.5	%		2.6	%		1.1	%		-1.4	%
Health Care Products		941		885		6.4	%		3.3	%		3.2	%
North America		3,171		2,899		9.4	%		1.8	%		0.3	%
Health Care Services		2,889		2,643		9.3	%		1.7	%		0.0	%		-2.1	% 2
Health Care Products		282		256		10.3	%		2.7	%		2.7	%
EMEA		674		670		0.7	%		2.6	%		2.0	%
Health Care Services		344		332		3.6	%		5.0	%		4.2	%		-0.8	%
Health Care Products		330		338		-2.2	%		0.2	%		-0.1	%
Asia-Pacific		507		471		7.6	%		4.1	%		3.6	%
Health Care Services		236		228		3.5	%		2.2	%		1.2	%		1.6	%
Health Care Products		271		243		11.5	%		5.9	%		5.9	%
Latin America		183		159		15.4	%		15.3	%		15.6	%
Health Care Services		130		115		13.2	%		15.1	%		15.5	%		-1.8	%
Health Care Products		53		44		21.0	%		15.9	%		15.9	%
Corporate		13		11		12.0	%		7.5	%
Health Care Services		8		7		11.2	%		4.2	%
Health Care Products		5		4		13.2	%		13.1	%

¹ Same market treatment growth = organic growth less price effects

² U.S. (excl. Mexico), same market treatment growth North America: -2.0% for the three months ended March 31, 2022.

Revenue development page 6 of 8      May 4, 2022

 

Key metrics Dialysis Care Services

unaudited	Three months ended March 31, 2022
			Growth							Growth					Growth
	Clinics		in %			De novos		Patients		in %			Treatments		in %
Total		4,153		1	%		9		343,493		0	%		12,858,103		-1	%
North America		2,692		1	%		6		207,238		-1	%		7,814,534		-1	%
EMEA		819		1	%		1		65,973		2	%		2,437,934		0	%
Asia-Pacific		393		-2	%		2		33,523		1	%		1,179,567		1	%
Latin America		249		1	%		-		36,759		0	%		1,426,068		-3	%

Key metrics page 7 of 8      May 4, 2022

 

Quality data¹

in % of patients	North America				EMEA				Latin America				Asia-Pacific
	Q1 2022		Q1 2021		Q1 2022		Q1 2021		Q1 2022		Q1 2021		Q1 2022		Q1 2021
Kt/V ≥ 1.2		97		97		93		93		92		91		95		93
Hemoglobin = 10-12 g/dl		70		69		81		81		49		48		52		50
Calcium = 8.4-10.2 mg/dl		84		81		79		78		74		74		72		71
Albumin ≥ 3.5 g/dl		84		80		89		90		90		89		89		89
Phosphate ≤ 5.5 mg/dl		57		58		78		79		77		76		63		63
Patients without catheter (after 90 days)		78		79		76		77		77		78		79		81
in days
Days in hospital per patient year (global basis)		10.7		11.1		(Q1 2021)

¹ Definitions cf. Annual Report 2021, Section "Non-Financial Group Report"

Quality data page 8 of 8      May 4, 2022