German healthcare group Fresenius’ net income dropped by 13 percent compared to the same quarter last year to 410 million euros (482 million United States dollars) in the second quarter (Q2) of 2020, the company announced on Thursday.
Sales increased by 2 percent to 8.9 billion euros between April and June, according to the company. Earnings before Interest and Taxes (EBIT) remained stable at around 1.1 billion euros.
“Despite the extra effort and restrictions, in particular in our hospital business, we achieved a very solid second quarter,” said Stephan Sturm, Chief Executive Officer of Fresenius.
The company would “stand on a broad, strong foundation, whose resilience is being proved more than ever right now,” said Sturm. “Even with all the current uncertainties, we expect increasingly dynamic earnings development in the coming quarters.”
Following the announcement, Fresenius’ shares decreased by more than five percent, making it one of the biggest losers of Germany’s 30 largest companies listed in the DAX.
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