BERLIN, Feb. 23 (Xinhua) -- Full-year sales of German dialysis specialist Fresenius were up two percent year-on-year to 36.3 billion euros (44.1 billion U.S. dollars) while EBIT declined by two percent to 4.6 billion euros, the company said on Tuesday.
"The pandemic year 2020 showed emphatically the importance of forward-thinking, effective and efficient healthcare," said chief executive officer Stephan Sturm.
In the fourth quarter (Q4) alone, Fresenius generated revenues of 9.3 billion euros, unchanged to prior year's results. At the same time, EBIT declined by three percent to 1.2 billion euros.
Fresenius noted that China in particular saw a "solid recovery." While full-year sales in China decreased only marginal by one percent to 1.5 billion euros, Q4 sales were up 11 percent year-on-year.
At Fresenius Medical Care (FMC), subsidiary of Fresenius, sales grew by two percent in 2020 to 17.9 billion euros, providing almost half of Fresenius' revenues.
Fresenius said that COVID-19 would "continue to impact" the company's operations in 2021. Current "burdens and constraints" caused by COVID-19 were expected to recede only in the second half on 2021.
"This year, the pandemic will again present us with a number of challenges, making it even more important that we increase efficiency in order to improve our cost base," said Sturm.
For full-year 2021, Fresenius expects its sales growth in a "low to mid-single-digit percentage range and at least broadly stable net income" at constant currency. Enditem