Notes to the consolidated statements of income (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Notes to the consolidated statements of income |
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| Schedule of revenue |
Revenue in € K | | | | | | | | | | | Revenue from | | Revenue from | | | | | | | contracts with | | insurance | | Revenue from | | | | | customers | | contracts | | lease contracts | | Total | | | | For the three months ended March 31, 2026 | Healthcare services | | 3,144,507 | | — | | — | | 3,144,507 | Healthcare products | | 1,001,887 | | — | | 18,734 | | 1,020,621 | Insurance contracts | | — | | 447,019 | | — | | 447,019 | Total | | 4,146,394 | | 447,019 | | 18,734 | | 4,612,147 |
| | | | | | | | | | | For the three months ended March 31, 2025 | | | Revenue from | | Revenue from | | | | | | | contracts with | | insurance | | Revenue from | | | | | customers | | contracts | | lease contracts | | Total | Healthcare services | | 3,276,313 | | — | | — | | 3,276,313 | Healthcare products | | 1,079,191 | | — | | 22,590 | | 1,101,781 | Insurance contracts | | — | | 503,360 | | — | | 503,360 | Total | | 4,355,504 | | 503,360 | | 22,590 | | 4,881,454 |
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| Schedule of disaggregation of revenue by categories |
Disaggregation of revenue by categories in € K | | | | | | | For the three months ended | | | March 31, | | | 2026 | | 2025 | Care Delivery | | 3,293,568 | | 3,446,829 | Thereof: U.S. | | 2,765,420 | | 2,891,270 | Thereof: International | | 528,148 | | 555,559 | Value-Based Care | | 490,370 | | 529,491 | Care Enablement | | 1,298,993 | | 1,366,932 | Inter-segment eliminations | | (470,784) | | (461,798) | Total | | 4,612,147 | | 4,881,454 |
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| Schedule of selling, general and administrative expenses |
Selling, general and administrative expense in € K | | | | | | | For the three months ended | | | March 31, | | | 2026 | | 2025 | Distribution costs(1) | | 147,535 | | 156,485 | General and administrative expense(1) | | 601,403 | | 594,201 | Selling, general and administrative expense | | 748,938 | | 750,686 |
(1) | The Company reclassified €34,008 from “Distribution costs” to “General and administrative expense” for the three months ended March 31, 2025 as a result of a change in accounting policy made to improve the presentation of core administrative functions that support the Company’s operational infrastructure, particularly in relation to patient service-related costs within the revenue cycle management process, including insurance verification, pre-authorizations, coding, claims submission, cash posting, and denial management. |
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| Schedule of amounts included in other operating income |
Other operating income in € K | | | | | | | For the three months ended | | | March 31, | | | 2026 | | 2025 | Foreign exchange gains | | 124,746 | | 114,916 | Gains on right-of-use assets, from the sale of fixed assets, clinics and investments | | 15,375 | | 2,461 | Income from strategic transactions and programs | | — | | 454 | Other | | 18,264 | | 23,484 | Other operating income | | 158,385 | | 141,315 |
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| Schedule of amounts included in other operating expense |
Other operating expense in € K | | | | | | | For the three months ended | | | March 31, | | | 2026 | | 2025 | Foreign exchange losses | | 128,508 | | 122,177 | Losses on right-of-use assets, from the sale of fixed assets, clinics and investments | | 947 | | 1,336 | Revaluation of certain investments (1) | | 6,360 | | 67,606 | Expenses from strategic transactions and programs | | 134,988 | | 24,883 | Other | | 34,954 | | 31,566 | Other operating expense | | 305,757 | | 247,568 |
(1) | Primarily driven by the remeasurement of the Company’s investment in Humacyte, Inc. for the three months ended March 31, 2026 and 2025. |
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| Schedule of expenses from strategic transactions and programs |
Expenses from strategic transactions and programs in € K | | | | | | | For the three months ended | | | March 31, | | | 2026 | | 2025 | Impairment of intangible and tangible assets(1) | | 105,136 | | 1,607 | Legacy Portfolio Optimization | | — | | 1,607 | FME25+ Program | | 105,136 | | — | Impairment resulting from the measurement of assets held for sale | | — | | 6,018 | Legacy Portfolio Optimization | | — | | 6,018 | Loss from the sale of business | | 650 | | — | Legacy Portfolio Optimization | | 650 | | — | Other(1) | | 29,202 | | 17,258 | FME25+ Program | | 18,412 | | — | Legacy Portfolio Optimization | | 10,790 | | 16,949 | Legal Form Conversion Costs | | — | | 309 | Expenses from strategic transactions and programs | | 134,988 | | 24,883 |
| (1) | For the three months ended March 31, 2026 and 2025, the amounts primarily relate to selling, general and administrative expense. |
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| Schedule of reconciliation of basic and diluted earnings per share |
Reconciliation of basic and diluted earnings per share in € K, except share and per share data | | | | | | | For the three months ended | | | March 31, | | | 2026 | | 2025 | Numerator: | | | | | Net income attributable to shareholders of FME AG | | 117,529 | | 151,221 | | | | | | Denominators: | | | | | Weighted average number of shares outstanding | | 275,246,345 | | 293,413,449 | Potentially dilutive shares (see note 9) | | — | | — | | | | | | Basic earnings per share | | 0.43 | | 0.52 | Diluted earnings per share | | 0.43 | | 0.52 |
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| Schedule of number of shares acquired in the context of the share buy-back programs |
Treasury Stock | | | | | | | | | | | | | | | Total number of | | | | | | | | | shares purchased | | Maximum value of | | | | | | | and retired | | shares that may yet | | | | | | | as part of publicly | | be purchased under | | | Total number of | | Average price per | | announced plans or | | the plans or | Period | | shares purchased | | share | | programs | | programs | | | | | in € | | | | in € K | | | | | | | | | | August 2025 | | 2,084,733 | | 42.68 | | 2,084,733 | | 511,021 | September 2025 | | 1,479,790 | | 42.45 | | 1,479,790 | | 448,210 | October 2025 | | 788,260 | | 46.38 | | 788,260 | | 411,651 | November 2025 | | 4,164,232 | | 41.10 | | 4,164,232 | | 240,485 | December 2025 | | 5,607,549 | | 40.26 | | 5,607,549 | | — | January 2026 | | 2,898,373 | | 37.29 | | 2,898,373 | | 305,474 | February 2026 | | 2,596,794 | | 39.67 | | 2,596,794 | | 202,449 | March 2026 | | 3,705,233 | | 38.72 | | 3,705,233 | | 58,973 | Total repurchased treasury stock (1) | | 23,324,964 | | 40.29 | | 23,324,964 | | 58,973 |
| (1) | The difference between the maximum value of shares that may yet be purchased under the Company’s share buy-back program and the liability for such shares as of March 31, 2026 and December 31, 2025 results from the timing of payments made for share repurchases on a weekly basis. The difference is recorded in the Consolidated statements of equity within Additional paid-in capital. |
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