UPDATE 1-German healthcare group Fresenius Q1 EBIT beats expectations

(Adds outlook in paragraph 3, 4, 5)

May 8 (Reuters) – German healthcare group Fresenius first quarter results beat expectations, the company said on Wednesday, citing strong performance at its Kabi and Helios operating companies, prompting it to raise its full-year outlook.

First-quarter earnings before interests and taxes (EBIT) were 633 million euros ($680 million), above analysts’ expectations of 606 million euros, according to a consensus of forecasts from Vara research.

The Hessian-based firm said late on Tuesday it raised its full-year outlook after a strong first quarter and due to improved business prospects for its maker of generic hospital drugs, Fresenius Kabi.

It now expects its organic group revenue to grow by 4%-7% this year, up from the 3%-6% it had expected earlier.

Fresenius also hiked its EBIT margin expectations to between 15% and 16% compared with a previous forecast of around 15%.

($1 = 0.9312 euros) (Reporting by Tristan Veyet in Gdansk; Editing by Tom Hogue)

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