Company StrategyAfter closing 72 clinics in 2023, Fresenius Medical Care could be closing only a single digit number of clinics in 2024, limiting profitability gains from higher utilisation rates.
Financial PerformanceLimited visibility on the turnaround, continuous FX headwinds, and muted patient volume growth challenge profitability targets.
ValuationValuation remains expensive with the company trading at about 13x P/E 2024, and expected sales CAGR significantly lagging behind the sector.