Fresenius Medical Care AG Files 20-F for Fiscal Year Ended December 31, 2023

Ticker: FMCQF · Form: 20-F · Filed: Feb 20, 2024 · CIK: 1333141

Fresenius Medical Care Ag 20-F Filing Summary
FieldDetail
CompanyFresenius Medical Care Ag (FMCQF)
Form Type20-F
Filed DateFeb 20, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: Fresenius Medical Care, 20-F Filing, Annual Report, Financials, SEC Disclosure

TL;DR

<b>Fresenius Medical Care AG has submitted its comprehensive 20-F annual report for the fiscal year ending December 31, 2023.</b>

AI Summary

Fresenius Medical Care AG (FMCQF) filed a Foreign Annual Report (20-F) with the SEC on February 20, 2024. Fresenius Medical Care AG filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing includes detailed financial information and disclosures as required by the SEC. Key financial data points such as revenue, net income, and EPS are expected to be detailed within the report. The report covers the period ending December 31, 2023, with a filing date of February 20, 2024. The company's principal executive offices are located at Else-Kroener Strasse 1, Bad Homburg, Germany.

Why It Matters

For investors and stakeholders tracking Fresenius Medical Care AG, this filing contains several important signals. This filing provides investors and analysts with the latest financial performance and operational details of Fresenius Medical Care AG for the fiscal year 2023. The 20-F report is a crucial document for understanding the company's financial health, strategic direction, and compliance with U.S. securities laws for foreign private issuers.

Risk Assessment

Risk Level: medium — Fresenius Medical Care AG shows moderate risk based on this filing. The filing is a standard annual report (20-F) which typically contains a mix of positive and negative information, making the overall sentiment neutral without specific financial results.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to assess Fresenius Medical Care AG's performance and outlook for the upcoming fiscal year.

Key Numbers

  • 2023-12-31 — Period of Report (Fiscal year end date)
  • 2024-02-20 — Filing Date (Date the report was submitted)
  • 0001333141 — Central Index Key (Company identifier)
  • 001-32749 — SEC File Number (SEC's file number for the company)

Key Players & Entities

  • Fresenius Medical Care AG (company) — Filer of the 20-F report
  • SEC (regulator) — Regulator overseeing the filing
  • Bad Homburg (location) — City where company offices are located

FAQ

When did Fresenius Medical Care AG file this 20-F?

Fresenius Medical Care AG filed this Foreign Annual Report (20-F) with the SEC on February 20, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by Fresenius Medical Care AG (FMCQF).

Where can I read the original 20-F filing from Fresenius Medical Care AG?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Fresenius Medical Care AG.

What are the key takeaways from Fresenius Medical Care AG's 20-F?

Fresenius Medical Care AG filed this 20-F on February 20, 2024. Key takeaways: Fresenius Medical Care AG filed its annual report on Form 20-F for the fiscal year ended December 31, 2023.. The filing includes detailed financial information and disclosures as required by the SEC.. Key financial data points such as revenue, net income, and EPS are expected to be detailed within the report..

Is Fresenius Medical Care AG a risky investment based on this filing?

Based on this 20-F, Fresenius Medical Care AG presents a moderate-risk profile. The filing is a standard annual report (20-F) which typically contains a mix of positive and negative information, making the overall sentiment neutral without specific financial results.

What should investors do after reading Fresenius Medical Care AG's 20-F?

Review the detailed financial statements and risk factors within the 20-F filing to assess Fresenius Medical Care AG's performance and outlook for the upcoming fiscal year. The overall sentiment from this filing is neutral.

How does Fresenius Medical Care AG compare to its industry peers?

Fresenius Medical Care AG operates in the healthcare sector, specifically in dialysis products and services, and operates as a foreign private issuer in the U.S. market.

Are there regulatory concerns for Fresenius Medical Care AG?

As a foreign private issuer, Fresenius Medical Care AG is subject to SEC regulations, including the requirement to file an annual report on Form 20-F.

Industry Context

Fresenius Medical Care AG operates in the healthcare sector, specifically in dialysis products and services, and operates as a foreign private issuer in the U.S. market.

Regulatory Implications

As a foreign private issuer, Fresenius Medical Care AG is subject to SEC regulations, including the requirement to file an annual report on Form 20-F.

What Investors Should Do

  1. Analyze the financial statements and management discussion and analysis (MD&A) within the 20-F for detailed performance metrics.
  2. Review the risk factors section to understand potential challenges and uncertainties facing the company.
  3. Compare the 2023 results with previous years to identify trends and assess the company's growth trajectory.

Key Dates

  • 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F filing.
  • 2024-02-20: Filing Date — Date Fresenius Medical Care AG submitted its 20-F report.

Year-Over-Year Comparison

This is the initial filing of the 20-F for the fiscal year 2023, providing the latest annual data.

Filing Stats: 4,515 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-02-20 10:02:35

Filing Documents

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 167 Item 12.

Description of securities other than equity securities

Description of securities other than equity securities 168 Part II Item 13. N/A Defaults, dividend arrearages and delinquencies 170 Item 14. N/A Material modifications to the rights of security holders and use of proceeds 170 Item 15A. Disclosure controls and procedures 170 Item 15B. Management's annual report on internal control over financial reporting 170 Item 15C. Attestation report of the registered public accounting firm 170 Item 15D. Changes in internal control over financial reporting 170 Item 16A. Audit committee financial expert 171 Item 16B. Code of ethics 171 Item 16C. Principal accountant fees and services 171 Item 16D. N/A Exemptions from the listing standards for audit committees 172 Item 16E. Purchase of equity securities by the issuer and affiliated purchasers 172 Item 16F. Change in registrant's certifying accountant 172 Item 16G. Corporate governance 172 Item 16H. N/A Mine safety disclosure 180 Item 16I. N/A Disclosure regarding foreign jurisdictions that prevent inspections 181 Item 16J. Insider trading policies 181 Item 16K. Cybersecurity 181 Part III Item 17. N/A

Financial statements

Financial statements 183 Item 18.

Financial statements

Financial statements 183 Item 19. Exhibits 183 i Table of Contents Certain defined terms In this report, (1) the "Company" refers to (a) Fresenius Medical Care AG & Co. KGaA or Fresenius Medical Care AG & Co. KGaA and its subsidiaries on a consolidated basis prior to the transformation of legal form of the Company from a partnership limited by shares ( Kommanditgesellschaft auf Aktien – KGaA ) into a German stock corporation ( Aktiengesellschaft – AG ) (the Conversion) which was approved at an extraordinary general meeting (EGM) of the Company held on July 14, 2023 by the Company's shareholders and became effective upon registration of the Conversion with the competent commercial register on November 30, 2023 and to (b) Fresenius Medical Care AG or Fresenius Medical Care AG and its subsidiaries on a consolidated basis after the Conversion; (2) "we", "us" and "our" refer either to the Company or the Company and its subsidiaries on a consolidated basis both before and after the Conversion, as the context requires; (3) "Fresenius Medical Care AG" and "FME AG" refer to the Company as a German stock corporation after the Conversion and "FME AG & Co. KGaA" refers to the Company as a German partnership limited by shares before the Conversion and (4) "FMCH" and "D-GmbH" refer, respectively, to Fresenius Medical Care Holdings, Inc., the holding company for our North American operations, and to Fresenius Medical Care Deutschland GmbH, one of our German subsidiaries. In addition, "Fresenius SE" and "Fresenius SE & Co. KGaA" refer to Fresenius SE & Co. KGaA. Fresenius SE owns 94,380,382 of our shares as of February 8, 2024, 32.2% based on 293,413,449 outstanding shares, as reported herein. In this report, we use Fresenius SE to refer to that company as a partnership limited by shares, effective on and after January 28, 2011, as well as both before and after the conversion of Fresenius AG from a stock corporation into a European Company ( Societas Europaea ) on July

Forward-looking statements

Forward-looking statements This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). When used in this report, the words "outlook," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "guidance," "target" and similar expressions are generally intended to identify forward looking statements. Although we believe that the assumptions and expectations reflected in such forward-looking statements are reasonable, forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not be anticipated. Additionally, subsequent events and actual results, financial and otherwise, have differed in the past and, going forward, could differ materially from those set forth in or contemplated by the forward-looking statements contained elsewhere in this report. We have based these forward-looking statements on current estimates and assumptions made to the best of our knowledge. By their nature, such forward-looking statements involve risks, uncertainties, assumptions and other factors which could cause actual results, including our financial condition and profitability, to differ materially, positively or negatively, relative to the results expressly or implicitly described in or suggested by these statements. Moreover, forward-looking estimates or predictions derived from third parties' studies or information may prove to be inaccurate. Consequently, we cannot give any assurance regarding the future accuracy of the opinions set forth in this report or the actual occurrence of the projected developments described herein. In addition, even if our future results meet the expectations expressed here, those results may not be indicative of our performance in future periods. These risks, uncertainties, assumptions, and other

Offer statistics and expected timetable

Item 2. Offer statistics and expected timetable Not applicable

Key information

Item 3. Key information We conduct our business on a global basis in various currencies with major operations located in the U.S. and Germany. We prepare our consolidated financial statements utilizing the euro as our reporting currency. We have converted the balance sheets of our non-euro denominated operations into euro at the exchange rates prevailing at the balance sheet date. Revenues and expenses are translated at the average exchange rates for the respective period, as shown. A summary of the spot and average exchange rates for the euro to U.S. dollars for the last three years is set forth below. The European Central Bank (ECB) determines such rates (Reference Rates) based on the regular daily averaging of rates between central banks within and outside the European banking system. The ECB normally publishes the Reference Rates daily around 4 p.m. Central European Time (CET). Exchange rates December 31, December 31, 2023 2022 2023 2022 2021 spot exchange spot exchange average exchange average exchange average exchange rate in rate in rate in rate in rate in 1 U.S. dollar 0.90498 0.93756 0.92484 0.94962 0.84549 B. Capitalization and indebtedness Not applicable C. Reasons for the offer and use of proceeds Not applicable D.

Risk factors

Risk factors Before you invest in our securities, you should be aware that the occurrence of any of the events described in the following risk factors or elsewhere in this report, and other events that we have not predicted or assessed could affect the outcome of forward-looking statements included in this report and/or have a material adverse impact on our business, financial condition and results of operations. If the events described below or other unpredicted events occur, then the trading price of our securities could decline and you may lose all or part of your investment. 5 Table of Contents Risks relating to legal and regulatory matters We operate in a highly regulated industry such that the potential for legislative reform provides uncertainty and potential threats to our operating models and results. The delivery of health care services and products is highly regulated in most of the countr

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