Significant factors affecting operating performance

In 2010, the Fresenius Group’s positive development was again driven to a large extent by the very good operating development in all business segments.

The annual financial statements for 2010 include special effects of the mark-to-market accounting of the Mandatory Exchangeable Bonds (MEB) and the Contingent Value Rights (CVR) relating to the acquisition of APP Pharmaceuticals. This also applies to the annual financial statements for 2009. The adjusted earnings figures represent the Group’s business operations in the given reporting period.