Fresenius SE: scraps 2020 targets; shares take a dive

(CercleFinance.com) - German healthcare group Fresenius SE on Friday abandoned its targets for 2020 as the group said it is expecting "record investments" in 2019.


From 2020 onwards, Fresenius now expects sustainable mid-single digit organic sales growth.

For 2019, Fresenius also expects mid-single digit organic sales growth, although net income is expected to be "broadly stable" over 2018.

"Given its current expectations for 2018 and 2019, Fresenius now believes its ambitious group targets for 2020 will not be met," it said in a statement.

Unsurprisingly, investors reacted negatively to the warning. The Frankfurt-listed shares of Fresenius were tumbling over 12% in morning trading on Friday.

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