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Summary of the fiscal year

SALES

Consolidated sales increased by 18% to €19,290 million in 2012 (20111: €16,361 million). Organic sales growth of 6% was achieved, while acquisitions contributed 8%. Divestitures reduced sales growth by 1%. Currency translation had a positive effect of 5%.

EARNINGS

Operating income2 (EBIT) grew by 20% to €3,075 million (2011: €2,563 million). The EBIT margin increased to a new record level of 15.9% (2011: 15.7%). Group net income3 increased by 22% to €938 million (2011: €770 million) and earnings per share3 by 15% to €5.42 (2011: €4.73).

Cash flow

Operating cash flow was €2,438 million (2011: €1,689 million). This was mainly driven by strong earnings growth and tight working capital management. Cash flow margin strongly improved to 12.6% (2011: 10.3%). Cash flow before acquisitions and dividends was €1,486 million (2011: €931 million).

BALANCE SHEET

Total assets increased by 17% to €30,664 million. Mainly due to the capital increase, total shareholders’ equity, including noncontrolling interest, increased by 21% to €12,758 million. The net debt / EBITDA5 ratio of 2.6 (December 31, 2011: 2.8) was at the lower end of the targeted corridor of 2.5 to 3.0.





1 2011 sales were adjusted according to a U.S. GAAP accounting change. The sales adjustment of -€161 million solely relates to Fresenius Medical Care North America. 2 Adjusted for one-time costs related to the offer to the shareholders of RHÖN-KLINIKUM AG (€6 million) and for other one-time costs at Fresenius Medical Care (€86 million) 3 Net income attributable to shareholders of Fresenius SE & Co. KGaA, adjusted for a non-taxable investment gain (€34 million) and other one-time costs (€17 million) at Fresenius Medical Care as well as for one-time costs (€29 million) related to the offer to the shareholders of RHÖN-KLINIKUM AG. 2011 adjusted for the effects of mark-to-market accounting of the Mandatory Exchangeable Bonds and the Contingent Value Rights. 4 Before special effects of the acquisition of Fresenius Kabi USA (formerly APP Pharmaceuticals) 5 Before one-time items


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