* 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 German healthcare group
Fresenius SE set out new targets for 2020 on
Wednesday, aiming for double-digit annual gains in sales and net
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