2025 was a year of numerous conflicts and geopolitical tensions and was also marked by debates worldwide about the opportunities and risks of artificial intelligence. Fresenius held its own very well in this environment and set the course for the future. Our company has reached 450 million people with its products and provided the best possible care to 27 million patients in our hospitals.
Fresenius grew strongly in terms of sales and earnings. In addition, the debt ratio was further significantly reduced. This is important because lower debt opens up options for investment.
The corporate strategy #FutureFresenius is also paying off in the third phase, Rejuvenate. Fresenius provides answers to the biggest challenge facing healthcare systems worldwide: to provide reliable and excellent medical care at a reasonable cost. The growing range of generics and biosimilars is making a significant contribution here. Health systems are relevant to national security in this new world order. Here, too, Fresenius is making a significant contribution: through a high level of vertical integration in the individual healthcare markets and reliably positioned supply chains.
Artificial intelligence and digitization have become an indispensable part of everyday clinical life. Fresenius uses these modern technologies for the benefit of patients and employees. For example, our Spanish hospital chain Quirónsalud offers a fully digitized patient journey, making it a pioneer in Europe. Fresenius is also working with partners to ensure that such complex personalized treatments are available to more people in groundbreaking therapies such as Car-T cell therapy for cancer diseases.
In order to continue on this successful course, continuity at the top of the Group is important. I am therefore very pleased that CEO Michael Sen has extended his contract by five years ahead of schedule. The Supervisory Board and I personally wish Mr. Sen and his team every success. We look forward to further cooperation in the coming years.
As of July 1, 2026, Dr. med. Christian Pawlu will join the Management Board of the general partner, where he will be responsible for the business of Fresenius Helios. Mr. Pawlu is already Chief Operating Officer (COO) of Fresenius Helios – this personnel decision is also a sign of continuity. He succeeds Robert Möller, who has successfully managed the hospital business in recent years. The Supervisory Board would like to thank Mr. Möller very much for his commitment. Robert Möller will remain with the Group and will establish the Group’s executive offices in Berlin and Brussels.
Michael Sen and his team have put Fresenius on a long-term, profitable growth trajectory. This is also reflected in the development of the share price in recent years, as well as in 2025: Last year, Fresenius shares rose by almost 50 percent, significantly outperforming the benchmark stock index STOXX Europe 600 Health Care. The shareholders are to participate appropriately in the company’s success. The company’s management will propose a dividend of 1.05 euros per share for the 2025 financial year to the Annual General Meeting on 22 May, which is an increase of 5 euro cents compared to the previous year.
All stakeholders benefit from the development at Fresenius. Today, the company is more innovative and relevant and thus has all the prerequisites to take advantage of the great opportunities in the healthcare industry. Fresenius is successful because all our colleagues share a common goal: to save and improve people’s lives.
Report of the Supervisory Board
In the reporting year, the Supervisory Board of Fresenius SE & Co. KGaA fulfilled its obligations in accordance with the provisions of the law, the articles of association, and the rules of procedure. It regularly advised the Management Board of the general partner, Fresenius Management SE, regarding the management of the Company and has supervised the management in accordance with its Supervisory Board responsibilities.
Cooperation between the Management and the Supervisory Board
In carrying out its monitoring and advisory activities, the Supervisory Board was regularly kept informed by the Management Board of the general partner in a timely and comprehensive oral and written manner. Among other things, it was informed about:
all important matters relating to corporate policy
the course of business
profitability
the situation of the Company and of the Group
corporate strategy and planning
the transformation of the Group, in particular the residual restructuring and divestments at VIACAMA (formerly: Fresenius Vamed)
the risk situation
risk management and compliance
the work of Internal Audit
important business transactions
Based on the reports provided by the Management Board of the general partner, the Supervisory Board discussed all significant business transactions in the Audit Committee and in its plenary meetings, depending on their areas of responsibility. The Management Board of the general partner also discussed the Company’s strategic direction in detail with the Supervisory Board. The Supervisory Board passed resolutions within its legal and company statutory authority.
The Supervisory Board of Fresenius SE & Co. KGaA convened for five regular meetings in fiscal year 2025, on March 20, May 23, September 1 and 2, October 16, and December 4. The meetings were all held in person. Before the meetings, the Management Board of the general partner provided the members of the Supervisory Board with detailed reports and comprehensive draft resolutions. At the meetings, the Supervisory Board discussed with them in detail the business performance and any important corporate matters based on the reports from the Management Board of the general partner. The Supervisory Board also met regularly without the Management Board of the general partner.
All matters requiring Supervisory Board approval were submitted with sufficient time for proper scrutiny. The Supervisory Board approved all matters submitted to it. This took place after reviewing the related approval documents and following detailed consultation with the Management Board of the general partner.
The Supervisory Board was also informed of important business transactions and important events between meetings. In addition, members of the Management Board of the general partner, in particular the Chairman, regularly informed the Chairman of the Supervisory Board in separate meetings about the latest development of the business and forthcoming decisions, and discussed them with him.
Meeting participation
All meetings of the Supervisory Board and its committees in fiscal year 2025 were attended by all sitting members of the Supervisory Board of Fresenius SE & Co. KGaA or of the respective committee.
Participation in meetings of the Supervisory Board and its committees is reported individually for each member on the Company’s website. Information on this can be found in the Supervisory Board section.
Main focus of the Supervisory Board’s activities
In 2025, the Supervisory Board mostly focused its monitoring and consulting activities on supporting the transformation and the business operations of the Fresenius Group. The Supervisory Board thoroughly reviewed and discussed all business activities of significance to the Company with the Management Board of the general partner.
The Supervisory Board dealt in particular with the following items:
strategic alignment of the Fresenius Group and its business segments as part of the #FutureFresenius transformation process
transformation of the Fresenius Group, including restructuring and divestments at VIACAMA (formerly: Fresenius Vamed)
cost reduction and efficiency improvement measures
IT transformation programs
cybersecurity
budget
mid-term planning of the Fresenius Group
further development of the corporate governance management systems (compliance management system, risk management system, internal audit system, and internal control system)
The Management Board of the general partner also regularly informed the Supervisory Board about the risk situation, risk management, and compliance within the Group.
At its meeting on March 20, 2025, the Supervisory Board dealt in detail with the audit and approval of the annual financial statements, the consolidated financial statements (IFRS), and the management report and Group management report of Fresenius SE & Co. KGaA as of December 31, 2024. The results for fiscal year 2024 were discussed on the basis of a detailed report provided by the Chair of the Audit Committee and statements by the auditor, PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt am Main. At the same meeting, resolutions were passed on the compensation report of Fresenius SE & Co. KGaA for fiscal year 2024, the report of the Supervisory Board of Fresenius SE & Co. KGaA for fiscal year 2024, the Corporate Governance Declaration of Fresenius SE & Co. KGaA for fiscal year 2024, and the Sustainability Statement for fiscal year 2024. In addition, the business segments reported in detail on the course of business in the first two months of the fiscal year. Further items discussed included the upcoming Annual General Meeting of Fresenius SE & Co. KGaA on May 23, 2025, as well as the rules of procedure of the Supervisory Board and the Audit Committee.
At its meeting on May 23, 2025, immediately following the election of the shareholder representatives by the Annual General Meeting, the Supervisory Board reconstituted itself. The Chair and the two Deputy Chairs of the Supervisory Board were elected, along with the respective members and Chairs of the Audit Committee and the Nomination Committee. The Management Board of the general partner also reported on the business performance from January to April 2025.
The Supervisory Board meeting on September 1 and 2, 2025, focused on the strategy within the individual business units. In addition, the Supervisory Board received information on the progress and further development paths of the #FutureFresenius transformation process.
At the meeting on October 16, 2025, the members of the Supervisory Board were informed in detail about business performance from January to September 2025. The Supervisory Board also addressed the IT strategy and ongoing IT projects, the topic of cybersecurity at Fresenius, and the EMIR audit as of December 31, 2024. Another topic of discussion was the establishment of an IT Committee, which, as a standing committee of the Supervisory Board from 2026 onward, will provide targeted advice to the General Partner on the Group’s IT transformation and the associated challenges and opportunities.
At the meeting on December 4, 2025, information was provided on the 2026 budget and mid-term planning for the years 2027 to 2028, the 2026 financing budget, and the maturities for 2026 to 2028. The Management Board of the general partner also reported on the business performance from January to October 2025. Furthermore, the Supervisory Board passed a resolution on the Declaration of Conformity with the German Corporate Governance Code.
Since 2024, the Supervisory Board, with the support of external legal advisors, has reviewed whether current or former members of the Management Board of Fresenius Management SE can be accused of breaches of duty in connection with the continuation of the business of the former VAMED AG. This review was completed in the reporting year. Based on the results of the investigation, the Supervisory Board has come to the conclusion that former members of the Management Board of Fresenius Management SE have breached their duties in this context. The Supervisory Board – as well as the Supervisory Board of Fresenius Management SE – has decided, in accordance with its obligations under German stock corporation law, not to assert any claims for damages against these former members of the Management Board at this time. In the interest of the Company, the Supervisory Board has also taken into account that a legal dispute that is likely to take many years associated with the assertion of damages and the litigation and cost risks naturally associated with it, as well as potential reputational disadvantages to the detriment of the Company and the members of the Management Board concerned, can be avoided. However, the Supervisory Board has taken note of the resolution of the Supervisory Board of Fresenius Management SE that outstanding variable compensation components – to which two of these former members of the Management Board were still entitled – will not be paid out, which only requires the existence of a breach of duty. The amount of the variable remuneration components that have been forfeited and thus retained by the company amounts to a high single-digit million euro amount.
Corporate Governance
In December 2025, the Supervisory Board of Fresenius SE & Co. KGaA and the Management Board of the general partner issued the Declaration of Conformity with the German Corporate Governance Code in accordance with Section 161 of the German Stock Corporation Act (AktG) and made it permanently available to the shareholders on the Company’s website.
In fiscal year 2025, the Chairman of the Supervisory Board of Fresenius SE & Co. KGaA held discussions with investors on topics specific to the Supervisory Board to the extent permitted by law and in close consultation with the Management Board of the general partner. In this context, the Chairman of the Supervisory Board of Fresenius SE & Co. KGaA again participated in the annual corporate governance roadshow in October 2025.
The Management Board of the general partner and the Supervisory Board of Fresenius SE & Co. KGaA have a duty to act in the best interests of the Company. In performing their activities, they do not pursue personal interests or bestow unjustified benefits on others. Any secondary activities or dealings with the Company by members of the corporate bodies must immediately be reported to the Supervisory Board. Its approval is required. There were no conflicts of interest of Supervisory Board members in the past fiscal year.
There are regular separate preliminary meetings of the employee representatives and consultations among the shareholder representatives.
The members of the Supervisory Board independently take on necessary training and further education measures required for their tasks and are supported appropriately by Fresenius. They keep themselves regularly informed, through internal and external sources, about the latest requirements with regard to their supervisory activities and exchange information on relevant external training opportunities. The Supervisory Board at all times ensures that its members are suitably qualified, keep their professional knowledge up to date, and further develop their judgment and expertise. External experts as well as experts from Fresenius provide information about important developments, for example about relevant new laws and precedents or changes in the IFRS accounting and auditing standards. The ESG expert appointed by the Audit Committee also provided updates on the work of the external Fresenius Sustainability Advisory Board, an independent advisory body for sustainability matters. In fiscal year 2025, a second comprehensive internal training course on ESG took place, focusing on the further development of the sustainability strategy, as well as changes resulting from the European Commission’s Omnibus Package for EU CSRD reporting and supply chain regulation. New members of the Supervisory Board are offered onboarding, for example on internal structures and corporate strategy. The onboarding is accompanied by visits to sites.
The Supervisory Board regularly, most recently in fiscal year 2024, assesses how effectively it and its committees fulfill their tasks.
For more information on Corporate Governance at Fresenius, please see the Corporate Governance Declaration under section “Coporate Governance” of the Annual Report. Fresenius has disclosed the information on related parties under section “Consolidated financial statements” of the Annual Report.
Work of the committees
In order to perform its duties efficiently, the Supervisory Board has formed various standing committees, which prepare the consultations and resolutions in the plenary session or can pass resolutions themselves. The committees of the Supervisory Board consist of an Audit Committee, a Nomination Committee, and a Joint Committee.
The Audit Committee held eight meetings in fiscal year 2025. Five of these meetings were held in person and three virtually. The auditor took part in all the meetings. The committee also held regular discussions without the Management Board of the general partner.
The Audit Committee dealt with the topics that fall within its area of responsibility under German and European law, the articles of association, and the rules of procedure and the resolutions of the Supervisory Board, taking into account the recommendations and suggestions of the German Corporate Governance Code. These topics include, in particular, the monitoring of accounting and the accounting process, and the effectiveness of the internal control system, the risk management system, the compliance management system, and the internal audit system, as well as the audit of the financial statements.
As part of the monitoring of the audit of the financial statements, the Audit Committee dealt with the selection and independence of the auditor in particular. The committee used a scorecard to assess the quality of the audit of the financial statements for fiscal year 2024 and monitored the non-audit services provided by the auditor on a quarterly basis. The Audit Committee recommended to the Supervisory Board that PricewaterhouseCoopers GmbH Wirtschaftprüfungsgesellschaft, Frankfurt am Main, (PwC) be appointed as auditors for fiscal year 2025 at the Annual General Meeting. The notification, information, and reporting obligations recommended by the German Corporate Governance Code were contractually agreed with the auditor. The Audit Committee discussed with the auditor the audit strategy, the materiality thresholds, the key audit matters, the risk assessment and key audit areas, the audit fee, and the scope of reporting on the audit. For the audit of the Sustainability Statement, the Audit Committee discussed with the auditor the planned supplementary audit procedures, in particular, to obtain reasonable assurance for individual components of the statement. The Audit Committee discussed the Half-Year Financial Report and the quarterly financial reports with the Management Board of the general partner and the auditor prior to their publication and discussed the auditor’s report on the review of the interim consolidated financial statements and management report as of June 30, 2025. The Chair of the Audit Committee regularly discussed the preparation and progress of the various audits with the auditor (of the annual financial statements) outside of meetings and reported on this to the committee. They also discussed the substantive review of the public Country-by-Country Reporting planned for 2026.
In 2025, the committee’s work in the area of accounting again focused on the restructuring and divestments at Fresenius Vamed and their impact on the consolidated financial statements. The Audit Committee also discussed the status of the implementation of IFRS 18. It was regularly informed about the sample audit of the consolidated financial statements as of December 31, 2024, by the German Federal Financial Supervisory Authority (BaFin), which was completed in November 2025 without any findings of error. The Audit Committee discussed in detail the regular reports from the officers responsible for compliance, risk management, internal control, and internal audit. With regard to compliance, the Audit Committee focused, in particular, on the establishment of the new Environmental Compliance function, the standardization of processes within the Group Data Protection function, and the implementation of human rights due diligence obligations at Quirónsalud and Fresenius Health Services. In the area of risk management and the internal control system, in addition to regular reporting, the focus was on the consideration of geopolitical and fundamental risks, and the further rollout and the planned further development of the systems in the Group. In terms of internal auditing, the committee was primarily concerned with the results of audits and follow-up audits that had been carried out, as well as with risk-oriented audit planning for the years 2026 and 2027. In addition, the Audit Committee discussed in detail the findings of an external review of the adequacy and effectiveness of the internal audit system and the adequacy of the risk management system, as well as an external assessment of the governance status of the compliance management system and the internal control system. In the area of sustainability reporting, the focus – in part due to the continued failure to transpose the EU Corporate Sustainability Reporting Directive (CSRD) into national law in the previous fiscal year – was on current and future regulatory requirements and their implementation, taking into consideration internal findings on the reduction of data points and the scope of the report. In the area of taxation, the Audit Committee addressed compliance management, the processes for the timely and accurate submission of declarations relating to the global minimum tax, and the status of preparations for the public Country-by-Country Reporting to be submitted for the first time for 2025.
The Audit Committee was also informed by the auditor about current regulatory developments in fiscal year 2025. The members of the Supervisory Board independently take on necessary training and further education measures relevant to their tasks and are supported by the Company in this.
The Chair of the Audit Committee reports in detail at the subsequent plenary meeting on the topics discussed and resolutions passed and explains the proposed resolutions.
The Company’s Nomination Committee met once in fiscal year 2025. The meeting was held in person. It focused, in particular, on the further development of the qualification matrix and the skills profile for the members of the Supervisory Boards of Fresenius Management SE and Fresenius SE & Co. KGaA, as well as on succession planning for the Supervisory Board of Fresenius SE & Co. KGaA.
The Joint Committee is responsible for approving certain important transactions of Fresenius SE & Co. KGaA and certain legal transactions between the Company and the Else Kröner-Fresenius-Stiftung. In 2025, no transactions were carried out that required its approval. Accordingly, the Joint Committee did not meet in 2025.
There is no Mediation Committee because the Supervisory Board of Fresenius SE & Co. KGaA does not appoint the Management Board members of Fresenius Management SE.
For more information about the committees and their composition and work methods, please refer to the Corporate Governance Declaration under section “Corporate Governance” of the Annual Report.
Personnel
The term of office of all members of the Supervisory Board of the Company ended with the Annual General Meeting of Fresenius SE & Co. KGaA on May 23, 2025.
The regular re-election of the six shareholder representatives was carried out by the Annual General Meeting on May 23, 2025. For the first time, Prof. Dr. med. Ralf Kiesslich was elected to the 12-member body. Mr. Michael Diekmann, Mr. Wolfgang Kirsch, Prof. Dr. med. Iris Löw-Friedrich, Ms. Susanne Zeidler, and Dr. Christoph Zindel were re-elected.
The European Works Council elected Mr. Bernd Behlert, Ms. Grit Genster, Mr. Carsten Georg, Ms. Tania Lara Campaña, Mr. Holger Michel, and Mr. Oscar Romero de Paco as employee representatives. Mr. Carsten Georg and Ms. Tania Lara Campaña had not previously been members of the Supervisory Board.
At its constitutive meeting on May 23, 2025, the Supervisory Board elected Mr. Wolfgang Kirsch as Chairman of the Supervisory Board of Fresenius SE & Co. KGaA. On the proposal of the shareholder representatives, Mr. Michael Diekmann, and on the proposal of the employee representatives, Ms. Grit Genster, were elected Deputy Chairs of the Supervisory Board. At the same meeting, Mr. Bernd Behlert, Ms. Grit Genster, Mr. Wolfgang Kirsch, Ms. Susanne Zeidler, and Mr. Christoph Zindel were elected members of the Audit Committee. Ms. Susanne Zeidler was elected Chairwoman of the Audit Committee. In addition, at the Supervisory Board meeting on May 23, 2025, Mr. Michael Diekmann, Mr. Wolfgang Kirsch, and Ms. Susanne Zeidler were elected members of the Nomination Committee, with Mr. Wolfgang Kirsch elected as its Chairman. By resolution of the Annual General Meeting of May 23, 2025, Mr. Michael Diekmann and Ms. Susanne Zeidler were elected as members of the Supervisory Board of the Company in the Joint Committee. The general partner, Fresenius Management SE, appointed Mr. Wolfgang Kirsch and Dr. Dieter Schenk as members of the Joint Committee and appointed Dr. Dieter Schenk as its Chairman.
The composition of the Management Board of the general partner, Fresenius Management SE, remained unchanged in the past fiscal year.
Annual financial statements and consolidated financial statements 2025
The auditor PwC audited the annual financial statements, consolidated financial statements, and combined management report for fiscal year 2025 and issued an unqualified audit opinion in each case. PwC has been the auditor for Fresenius SE & Co. KGaA and the Fresenius Group since fiscal year 2020. Following an internal rotation at PwC carried out for fiscal year 2025, Mr. Dietmar Prümm and Ms. Aissata Touré are now the assigned auditors, with the latter also acting as the lead auditor.
The Company’s annual financial statements and the combined management report for the Company and the Group were prepared in accordance with the accounting provisions of the German Commercial Code (HGB) and the Company’s consolidated financial statements were prepared in accordance with IFRS, as adopted by the EU, and the additional requirements of German law pursuant to Section 315e HGB. The auditors conducted all audits in accordance with Section 317 HGB and the EU Audit Regulation, taking into account the generally accepted German standards for the auditing of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW) and the International Standards on Auditing (ISA).
The Audit Committee already received comprehensive reports on the preparatory work for the 2025 annual and consolidated financial statements at the meetings on October 15, 2025, and December 3, 2025.
At the Audit Committee meeting on February 23, 2026, the Audit Committee discussed the drafts of the annual and consolidated financial statements as well as the combined management report with the Management Board of the general partner. The Audit Committee dealt in detail with statement of the Management Board of the general partner in the combined management report on the appropriateness and effectiveness of the risk management and internal control system. The auditors informed the Supervisory Board that the audits of the financial statements had been materially completed and – provided there were no new findings – could be concluded on the following day with unqualified audit opinions. The annual and consolidated financial statements, as well as the combined management report, the draft Annual Report, and the auditor’s reports, were made available to the Supervisory Board in good time.
At the Audit Committee meeting on March 18, 2026, the Management Board of the general partner explained the annual and consolidated financial statements in detail. The auditors reported in detail on the scope, focus, and key findings of their audit, focusing in particular on the key audit matters, including the audit procedures performed in this context. No material weaknesses were reported in the accounting-related internal control system or the early-warning system set up by the Management Board of the general partner to identify risks. As a result of its review, the Audit Committee recommended that the Supervisory Board approve the findings of the audit at the plenary meeting on March 19, 2026, and, since in its opinion there were no objections to the documents submitted by the Management Board of the general partner, that it approve the annual and consolidated financial statements, as well as the distribution of the retained profit for fiscal year 2025 reported in the annual financial statements.
On March 19, 2026, the Supervisory Board conducted its final review of the financial statement documents, taking into account the report and recommendations of the Audit Committee and the auditor’s reports. It discussed further issues with the Management Board of the general partner and the auditor. The Supervisory Board approved the auditor’s findings. As there were no objections to the annual financial statements, consolidated financial statements, or combined management report following the final results of its own examination, the Supervisory Board approved the annual financial statements and consolidated financial statements prepared by the Management Board of the general partner in accordance with the Audit Committee’s proposed resolution. The Supervisory Board approved the proposal of the Management Board of the general partner on the distribution of the retained profit for fiscal year 2025 reported in the annual financial statements.
Sustainability Statement 2025
Notwithstanding the still-outstanding transposition of the EU CSRD into national law, a Sustainability Statement was prepared for fiscal year 2025 – as was the case in the previous fiscal year – that applies the European Sustainability Reporting Standards (ESRS) as a framework and, at the same time, meets the legal requirements for a separate Group Non-financial Report. PwC subjected the Sustainability Statement for fiscal year 2025, included as a separate section in the combined management report, to a formal and substantive audit and concluded the audit without objections. The compensation-relevant key figures of this report were audited with reasonable assurance, while the other components of the report were audited with limited assurance. PwC conducted its audit in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised), issued by the International Auditing and Assurance Standards Board (IAASB).
At its meeting on October 15, 2025, the Audit Committee was informed about the status of the implementation of the EU CSRD into national law. At its meeting on December 3, 2025, it received a report on the preparatory work for the preparation of the Sustainability Statement for fiscal year 2025. This included, in particular, updating the double materiality assessment, the reduced scope and optimized structure of the statement, and the adjustment of compensation-related key performance indicators adopted by the Personnel Committee.
The Sustainability Statement and the auditor’s report from PwC were made available to each member of the Supervisory Board of the Company in good time. At their meetings on March 18 and 19, 2026, the Audit Committee and then the full Supervisory Board discussed all the documents in detail. At both meetings, the appointed auditor reported on the key findings of the audit and answered questions. The Audit Committee and the Supervisory Board approved the auditor’s findings. The Audit Committee’s and the Supervisory Board’s own review also found no objections to the Sustainability Statement. At its meeting on March 19, 2026, the Supervisory Board approved the Sustainability Statement in accordance with the resolution proposed by the Audit Committee.
Compensation report
PwC formally and materially audited the compensation report for fiscal year 2025 and did not raise any objections.
The compensation report was prepared together with the general partner and finally discussed and approved at the Supervisory Board meeting on March 19, 2026.
The compensation report is published under section “Corporate Governance” of the Annual Report and the auditor’s findings are published under section “Consolidated financial statements” of the Annual Report.
Thanks from the Supervisory Board
The Management Board of the general partner, chaired by Michael Sen, and the 178,000 employees worldwide can proudly look back on an excellent financial year. Now it is a matter of building on the momentum of the Rejuvenate phase and expanding Fresenius’ position as a leading healthcare company. The Supervisory Board would like to express its thanks to the Management Board of the general partner and all employees for their achievements in the past financial year.
Bad Homburg v. d. H., March 19, 2026
The Supervisory Board of Fresenius SE & Co. KGaA
Wolfgang Kirsch
Chairman