February 19, 2020 / 8:16 PM / in 3 months

Fresenius Medical says Q4 operating profit up 3%

FRANKFURT, Feb 19 (Reuters) - Germany’s Fresenius Medical Care on Wednesday said quarterly adjusted operating income edged 3% higher as growth in dialysis services and products was partly offset by a negative adjustment for accounts receivable in a legal dispute in North America.

Fourth-quarter earnings before interest and tax, adjusted for special items, advanced to 655 million euros ($707 million), the group said in an unscheduled statement, coming in below a median analyst estimate of 689 million euros, according to a company-provided poll.

The kidney dialysis provider, controlled by diversified healthcare group Fresenius SE, predicted 2020 revenue and net income would grow at a mid- to high single-digit rate in 2020, when measured without currency swings and excluding special items.

The guidance is based on the adjusted results for 2019, including the acquisition of home dialysis company NxStage, it added. ($1 = 0.9261 euro) (Reporting by Ludwig Burger; editing by Jonathan Oatis)

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