(Reuters) – Fresenius reported a bigger-than-expected 13% jump in fourth-quarter operating profit on Wednesday, citing good earnings development across its businesses and progress in the operational turnaround at its hospital project development unit Vamed.
The diversified healthcare group reported quarterly earnings before interests and taxes, and before special items, of 634 million euros ($685 million), 7% above analysts’ expectations of 591 million in a poll compiled by Vara Research.
The company’s strong result echoes the performance of its former dialysis unit Fresenius Medical Care, which on Tuesday reported upbeat quarterly results and gave a higher 2024 guidance.
Fresenius last year ceded control of the dialysis business, and is looking into selling smaller non-core businesses to focus on its generic drugs unit Kabi and hospital operator Helios.
($1 = 0.9250 euros)
(Reporting by Tristan Veyet in Gdansk; editing by Milla Nissi)
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