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Fresenius SE & Co. KGaA / Key word(s): Dividend Fresenius SE & Co. KGaA: Fresenius retains relief payments for hospitals of up to €300 million (from the current perspective) and is therefore subject to a ban on dividends and bonuses for 2023 05-Dec-2023 / 21:29 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Fresenius retains relief payments for hospitals of up to €300 million (from the current perspective) and is therefore subject to a ban on dividends and bonuses for 2023
The Management Board of Fresenius Management SE decided today that Fresenius Group will retain the governmental compensation and reimbursement payments of up to €300 million (from the current perspective) for German hospitals provided for in the “Energy Relief Package” (Entlastungspaket Energiehilfen). The retention of these payments, which Fresenius will use to promote the long-term strengthening of the Company, is subject to legal restrictions. Among other things, Fresenius SE & Co. KGaA is prohibited by law from paying a dividend to its shareholders for the financial year 2023. Furthermore, no bonuses or other variable compensation components for the financial year 2023 may be paid to the members of the Management Board of Fresenius Management SE and the management bodies of other companies covered by the statutory bans. Today’s resolution of the Management Board is subject to the approval of the Supervisory Board of Fresenius Management SE, which is expected to decide on this approval on 6 December 2023. Also on 6 December 2023, the Supervisory Board of Fresenius SE & Co. KGaA is expected to decide on the favorable acknowledgement of today’s resolution of the Management Board. The cash inflow of compensation and reimbursement payments as well as the dividend suspension will reduce the company’s debt and consequently improve the leverage ratio by around 20 to 25 basis points. The reduction in debt will have a positive effect on net interest expense and ultimately on earnings per share. For additional information on the performance indicators used please refer to our website at https://www.fresenius.com/alternative-performance-measures. Fresenius SE & Co. KGaA, Bad Homburg v.d.H., December 5, 2023 —————————————- End of Note End of Inside Information 05-Dec-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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