Kidney dialysis provider Fresenius Medical Care (FMC) on Sunday revised down its forecast for 2022, expecting net income to decline this year, dragged down by rising labour costs and a slower than expected recovery in North America business.
The company now expects net income to decline in the high-teens to mid-20s percentage range this year, down from its previous outlook of a high-teens percentage drop. It still expects revenue to grow at a low single digit percentage rate.
FMC said net income dropped 16% in third quarter to 230 million euros while operating income fell by 7% to 472 million euros in the quarter.
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