Feb 21 Reuters German healthcare firm Fresenius beat expectations with a 13 jump in fourthquarter operating earnings on Wednesday after it exceeded its costs savings target for 2023.

CEO Michael Sen, who took the helm a year ago, has been restructuring the group to cut costs and debt after it was hit by a decline in earnings at its former dialysis unit Fresenius Medical Care.

The restructuring plan will bring Fresenius Kabi, a maker of generic hospital drugs, and Helios with its German and Spanish hospital chains to the forefront, while other parts of the business will be run as investments.

Fresenius shares jumped more than 4 in early trading, topping Germany39;s bluechip index, after it also raised 2025 structural savings target to 400 million euros 432 million, from 350 million previously.

For 2023, the diversified healthcare group achieved cost savings of around 280 million euros at an operating profit level, well above its 200 million euro target for the year.

Fresenius reported a 13 jump in quarterly earnings before interests and taxes, and before special items, to 634 million euros 685 million, 7 above analysts39; expectations.

It pointed to good earnings development across its businesses and progress in the operational turnaround at its hospital project development unit Vamed.

The group last year ceded control of the kidney dialysis business, and is looking into selling smaller noncore businesses.

Fresenius Medical Care on Tuesday also reported upbeat…