February 22, 2017 / 7:18 AM / 5 months ago

UPDATE 1-Fresenius aims for double-digit growth through 2020

2 Min Read

* Sees sales up avg 11.2 pct/yr through 2020

* Sees net income up avg 13.1 pct/yr

* FMC affirms 2020 guidance

* FMC sees slowing profit growth in 2017 (Adds details, Fresenius results)

FRANKFURT, Feb 22 (Reuters) - German healthcare group Fresenius SE set out new targets for 2020 on Wednesday, aiming for double-digit annual gains in sales and net income.

Sales will grow to between 43 billion and 47 billion euros ($45.3-$49.5 billion) by 2020, from 29.1 billion euros in 2016, which is an average annual growth rate of 11.2 percent at the midpoint of the forecast range, it said.

Net income will increase to between 2.4 billion and 2.7 billion euros from 1.59 billion last year, up 13.1 percent per year on average.

"The company's prospects are excellent, and in the coming years Fresenius is targeting continued, dynamic growth," Chief Executive Stephan Sturm, the former finance chief who took the helm in July last year, said in a statement.

The group, which controls Fresenius Medical Care (FMC) , the world's largest kidney dialysis provider, raised its dividend for a 24th consecutive year, broadly meeting analyst forecasts with a 0.62 euro-per-share payout for 2016.

FMC stuck with 2020 targets for revenue of 24 billion euros, with an average annual increase of about 10 percent, and high single-digit percentage growth in annual net income.

FMC said it expected net income growth to slow to between 7 and 9 percent in 2017, after a 21 percent jump last year. Analysts in a Reuters poll had on average forecast an 11 percent rise in net income this year. ($1 = 0.9496 euros) (Reporting by Maria Sheahan; Editing by Victoria Bryan and Gopakumar Warrier)

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