Solid revenue1 growth of 4% driven by both segments Care Delivery and Care Enablement Operating income1 margin improved in both segments   Care Enablement delivered strong sequential margin improvement with significant progress towards the 2025 target margin band Execution of transformation continues at pace, contributing additional FME25 savings of EUR 52 million Portfolio optimization program progresses in Care Delivery with signed or closed divestments in all our Latin American markets, and closed divestments in Turkiye and of Cura Day Hospitals Group in Australia FY 2024 outlook confirmed BAD HOMBURG, Germany, May 7, 2024 /PRNewswire/ -- Helen Giza, Chief Executive Officer of Fresenius Medical Care, said: "The first quarter of this year demonstrates that we are executing on our strategy as planned. Both segments expanded their respective margins compared to the prior year. Especially for Care Enablement, the first quarter was an inflection point as our transformation efforts, higher pricing and FME25 savings drove a solid margin improvement. We are also executing with speed our strategic portfolio optimization program. We have started the year with a slightly more favorable operating income phasing than planned and confirm our financial outlook for the full year 2024. We would not be here without the great work of our employees, whom I would like to thank for their hard work and dedication." Key figures (unaudited) Q1 2024 Q1 2023 Growth Growth EUR m EUR m yoy yoy, cc Revenue 4,725 4,704 0 % +2 % on outlook base1 4,822 4,619 +4 % Operating income 246 261 -6 % -4 % on outlook base1 416 338 +23 % Net income2 71 86 -18 % -17 % on outlook base1 198 146 +35 % Basic EPS (EUR) 0.24 0.29 -18 % -17 % on outlook base1 0.67 0.50 +35 % yoy = year-on-year, cc = at constant currency, EPS = earnings per share Focused execution against the strategic plan continues into 2024 Fresenius Medical Care successfully executed on its operational efficiency and turnaround plans. In the first quarter, the FME25 transformation program continued its momentum, delivering EUR 52 million additional sustainable savings while related one-time costs amounted to EUR 28 million. The Company is well on track to achieve the targeted additional sustainable savings of EUR 100 to 150 million by year end 2024, totaling to EUR 650 million by year end 2025. Moreover, Fresenius Medical Care is executing its portfolio optimization plan to exit non-core and dilutive assets. As announced during the first quarter, the Company entered into agreements to divest its dialysis clinic networks in Brazil, Colombia, Chile and Ecuador. Special items associated with portfolio optimization amounted to negative EUR 143 million in the first quarter. Subject to regulatory approvals in Brazil, Colombia and Ecuador, the transactions represent another milestone in Fresenius Medical Care's portfolio optimization program, with each expected to close throughout 2024. After further signing the divestments of its dialysis clinic networks in Guatemala, Peru and Curacao, Fresenius Medical Care has now signed or closed the exit from all of its dialysis clinics operations in Latin America. The Company moreover closed the divestment of its dialysis clinic network in Turkiye and the Cura Day Hospitals Group, Australia, during April. All transactions that are currently signed as part of the Company's portfolio optimization plan are estimated to negatively impact Fresenius Medical Care by around EUR 250 million in the full year 2024 and will be treated as special items in operating income. The transactions listed above are expected to generate cash proceeds of around EUR 650 million upon closing. Revenue development driven by solid organic growth Revenue remained almost unchanged with EUR 4,725 million in the first quarter (+2% at constant currency, +5% organic). Revenue on outlook base1, i.e. at constant currency, excluding special items and the business impacts from closed divestitures during 2023, increased by 4%. Care Delivery revenue increased by 1% (+3% at constant currency, +6% organic) and by 5% on outlook base1. In Care Delivery U.S., revenue increased by 3% (+5% at constant currency, +6% organic) and by 6% on outlook base1. A growing value-based care business, reimbursement rate increases and a favorable payor mix had a positive impact, compensating negative exchange rate effects and the effect of closed or sold operations. In line with expectations, elevated missed treatments growth compared unfavorably to last year, in part due to adverse Q1 2024 weather events and an unusually mild 2023 flu season, capacity constraints in clinics in some metropolitan areas, and the remaining annualization effects from excess mortality, that weigh on U.S. same market treatment growth. Adjusted for the exit from less profitable acute care contracts (-0.4%), U.S. same market treatment growth came in as expected at -0.3%. In Care Delivery International, revenue declined by 9% (-4% at constant currency, +4% organic), while they grew by 2% on outlook base1. The effect of closed or sold operations and a negative exchange rate effect were partially offset by organic growth. Same market treatment growth was positive at 1.4%. Care Enablement revenue declined by 1% (+1% at constant currency, +2% organic), while they grew by 2% on outlook base1. Positive impacts from pricing were offset by negative exchange rate effects and negative volume growth compared to prior year, in the absence of sales of critical care products in China as part of ...