Fresenius share

Stock markets and develop­ment of the fresenius share

The global economy has shown resilience this year, even though economic activity varies between countries and sectors. Inflation has slowed down and is now closer to the targets set by central banks in most countries. While the labor market is no longer as tight, unemployment rates are still low compared to historical levels. For 2025, inflation in the euro area is expected to stabilize at around 2% from mid-2025, as cost pressures ease and past monetary policies take effect. Economic activity is predicted to gradually re-cover, supported by rising household incomes, a strong labor market, and improved financing conditions, despite ongoing geopolitical and policy uncertainties.

In the wake of these developments, the global stock markets recorded significant gains over the course of the year. In the United States, the growth in the leading S&P 500 and Dow Jones Industrial Average indices was again primarily driven by companies from the technology and artificial intelligence sectors. In Europe, the STOXX© Europe 600 gained around 5% in the 2024 fiscal year; the most important German stock market barometer, the DAX40, even rose by around 19%. The STOXX© Europe 600 Health Care, which tracks the comparatively defensive European healthcare sector, gained around 2% over the course of the year.

The closing price of the Fresenius share on December 30, 2024, the last trading day of the year, was €33.54, around 19.5% higher than the closing price at the end of 2023. The Fresenius share reached its low for the year of €24.54 on March 25, 2024, and its high for the year at €34.85 on December 13, 2024.

At https://www.fresenius.com/share-price-center you can find an interactive chart tool for graphical display and further analysis of the share price development. You can also find out how the Fresenius share has performed compared to the shares of competitors.

The market capitalization of Fresenius was €18.9 billion as of December 31, 2024. The average daily trading volume on Xetra amounted to 1,007,480 shares in the 2024 fiscal year.

CAPITALIZATION

The total number of issued shares at the end of 2024 was 563,237,277 and thus remained unchanged during the 2024 fiscal year.

Investor relations

Our investor relations activities are in accordance with the transparency rules of the German Corporate Governance Code. We communicate comprehensively, promptly, and openly with private and institutional investors, as well as financial analysts. The equal treatment of all market actors is very important to us. In addition to our current financial results and guidance, the focus is also on the strategy and long-term positioning of the Fresenius Group.

We maintained an intense dialog with the capital markets in 2024 both virtually and in person. We were in direct contact with institutional investors and analysts on 20 days at international investor conferences, 22 roadshow days, and in numerous one-on-one meetings. We also organized CEO calls and virtual field trips with banks, giving investors and analysts the opportunity to discuss matters with the Management Board. In addition, Fresenius held a corporate governance roadshow together with the Supervisory Board.

Communication with private investors was maintained both virtually and in person at events organized by shareholder associations.

In addition, interested parties had access to live webcasts of the conference calls on our quarterly results at www.fresenius.com/events-and-roadshows as well as the constantly expanding range of information on our social media channels on LinkedIn and “X” (Twitter).

Fresenius’ Investor Relations team was recognized in this year’s Investors’ Darling competition by manager magazin with fourth place in the overall ranking.

In addition, Fresenius’ capital market communication achieved third place in the IR-Benchmark ranking of the NetFed agency.

RELATIVE SHARE PRICE PERFORMANCE 2020-2024 FRESENIUS SHARE VS. INDICES

ABSOLUTE SHARE PRICE PERFORMANCE 2024 FRESENIUS SHARE IN €

If you would like to contact the Investor Relations team or find out about our 2025 financial calendar, please take a look at the contact page. For additional information on the Fresenius Group and share, please visit us at www.fresenius.com/investors.

Dividend

Fresenius is committed to generating attractive and predictable dividend yields as set out in the Fresenius Financial Framework. As part of the full-year reporting in February 2025, Fresenius defined a new dividend policy. Our target is to distribute ~30–40% of core net income (net income excluding FMC, before special items). The new dividend policy the capital allocation priorities in line with the #FutureFresenius strategy. It also underscores our intention to reinvest in growth, reduce leverage, maintain a solid investment-grade rating and provide attractive shareholder returns.

Fresenius will propose to the 2025 Annual General Meeting to distribute a dividend of €1.00 for the 2024 fiscal year.

Shareholder structure

The Else Kröner-Fresenius-Stiftung was the largest shareholder of Fresenius SE & Co. KGaA, with 27.0% of the shares.

According to notifications pursuant to the German Securities Trading Act (WpHG), there was no investor in the Fresenius shareholder base apart from the Else Kröner-Fresenius-Stiftung with voting rights of more than 5%. Voting rights notifications can be found at www. fresenius.com/shareholder-structure.

As of December 31, 2024, a shareholder survey identified the ownership of about 97% of our subscribed capital. According to this analysis, Fresenius can rely on a solid shareholder base: a total of over 600 institutional investors held about 62% (December 31, 2023: 60%) of shares outstanding. The 10 largest institutional investors held about 19% (2023: 20%) of the share capital. 8% of Fresenius shares (2023: 8%) were identified as retail holdings.

Our shares were mostly held by investors in Germany, the United States, and the United Kingdom.

Analyst recommendations

The recommendations published by financial analysts are an important guide for institutional and private investors when making investment decisions. According to our survey, as of February 17, 2025, we were rated with 17 “buy” and 2 “hold” recommendations.

At https://www.fresenius.com/analysts-and-consensus you can find out which banks regularly report on Fresenius and rate our shares.

ADR program

In the United States, Fresenius has a Sponsored Level I American Depositary Receipt (ADR) program. In this program, four Fresenius ADRs correspond to one Fresenius share. They are priced in U.S. dollars and traded in the U.S. over-the-counter (OTC) market.

You can find further information on our ADR program on www.fresenius.com/adr.

SHAREHOLDER STRUCTURE BY REGION

SHAREHOLDER STRUCTURE BY INVESTORS

ANALYST RECOMMENDATIONS