Fresenius SE & Co. KGaA (FSNUY) Q4 2025 Earnings Call Transcript

SA Transcripts158.62K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Fresenius SE & Co. KGaA (FSNUY) Q4 2025 Earnings Call February 25, 2026 7:30 AM EST Company Participants Nick Stone - Senior VP of Investor Relations & Head of Investor Relations - Fresenius Management SEMichael Sen - CEO, President & Chairman of Management Board of Fresenius Management SESara Hennicken - CFO & Member of the Management Board - Fresenius Management SE Conference Call Participants Hassan Al-Wakeel - Barclays Bank PLC, Research DivisionOliver Metzger - ODDO BHF Corporate & Markets, Research DivisionVeronika Dubajova - Citigroup Inc., Research DivisionHugo Solvet - BNP Paribas, Research DivisionPhilip Omnou - JPMorgan Chase & Co, Research DivisionFalko Friedrichs - Deutsche Bank AG, Research DivisionAnna Ractliffe - BofA Securities, Research Division Presentation Operator Good afternoon, and welcome to the conference call of Fresenius Investor Relations, which is now starting. May I hand you over to Nick Stone, Head of Investor Relations. Nick StoneSenior VP of Investor Relations & Head of Investor Relations - Fresenius Management SE Thank you, Valentina. Hello, everyone. Good morning, good afternoon, wherever you are. Welcome to our full year and Q4 2025 earnings call and webcast. Presentation was e-mailed to our distribution list earlier today and is available on fresenius.com. On Slide 2 of the presentation, you'll find the usual safe harbor statement. Unless stated otherwise, we'll comment on our performance using constant exchange rates, or CER. Today, I'm pleased to welcome Michael and Sara, who will present another competitive performance, followed by an overview of the full year '26 guidance and the underlying components. As usual, the call will last approximately 1 hour with a presentation taken between 35 to 40 minutes and remaining time for your questions. To give everyone a chance to participate, please limit your questions to 1 to 2 and we can always come back for a second