EQS-News: Drägerwerk AG & Co. KGaA: Dräger with significant increase in net sales and earnings in the first half of 2023
EQS-News: Drägerwerk AG Co. KGaA
/ Key word(s): Half Year Report/Half Year Results
Dräger with significant increase in net sales and earnings in the first half of 2023
Lübeck – Drägerwerk AG Co. KGaA increased its net sales by 19.6 percent (net of currency effects) to EUR 1,532.4 million in the first six months of 2023 (6 months 2022: EUR 1,302.4 million) and significantly improved its profitability: earnings before interest and taxes (EBIT) were clearly positive at EUR 47.7 million (6 months 2022: EUR -111.7 million), while the EBIT margin rose by 11.7 percentage points to 3.1 percent (6 months 2022: -8.6 percent). Dräger confirms its full-year guidance. “Following the disappointing financial year 2022, our situation improved significantly during the first six months of 2023. Our net sales increased by around a fifth, and our earnings were also well up,” said Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG. “On the net sales side, we mainly benefited from the large order backlog and improved delivery capabilities. On the earnings side, in addition to the significantly higher net sales volume, our active price management also paid off. However, we are not fully satisfied with order intake.” Net sales growth across both segments and all regions In the safety division, net sales increased by 20.0 percent (net of currency effects) to EUR 621.6 million (6 months 2022: EUR 525.2 million), driven by significant growth in all regions, but particularly in Europe, where net sales rose by around a fifth, mainly due to strong growth in Germany. Both divisions benefited from a noticeable improvement in delivery capabilities, which enabled strong net sales growth from the high order backlog. Significant improvement in profitability Order intake slightly below high prior-year figure In the medical division, order intake decreased by 6.5 percent (net of currency effects) to EUR 917.5 million (6 months 2022: EUR 996.8 million). This was due in particular to demand for anesthesia devices, which was unable to match the strong volume of the prior-year period. By contrast, demand in the service business increased noticeably. In the safety division, order intake increased by 6.2 percent (net of currency effects) to EUR 679.1 million (6 months 2022: EUR 650.8 million). Growth was driven in particular by our service business and our gas detection devices. Business development in the second quarter Dräger's net sales increased by 21.1 percent (net of currency effects) to EUR 771.3 million (Q2 2022: EUR 652.9 million). At 43.1 percent, the gross margin was also significantly above the prior-year figure (Q2 2022: 38.6 percent). EBIT improved to EUR 18.7 million (Q2 2022: EUR -76.6 million). EBIT margin was 2.4 percent (Q2 2022: -11.7 percent). Full-year forecast confirmed “Our goal remains to return to growth and profitability in 2023. We are therefore focusing on taking advantage of intact market growth, improving our supply capability, increasing our prices, optimizing our free cash flow, and strengthening our cost awareness. So far, we have made great progress in this regard, but further efforts are still required,” said Stefan Dräger. Further information is available in the financial report at www.draeger.com. Disclaimer
27.07.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Drägerwerk AG Co. KGaA |
Moislinger Allee 53-55 | |
23558 Lübeck | |
Germany | |
Phone: | +49 (0)451 882-0 |
Fax: | +49 (0)451 882-2080 |
E-mail: | [email protected] |
Internet: | www.draeger.com |
ISIN: | DE0005550602, DE 000 555 063 6, DE 000 555 071 9 |
WKN: | 555060, 555063 Vorzüge, 555071 Genussschein D |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Stuttgart, Tradegate Exchange |
EQS News ID: | 1688983 |
End of News | EQS News Service |
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1688983 27.07.2023 CET/CEST
Drägerwerk AG & Co. KGaA ST Aktie
Drägerwerk AG & Co. KGaA ST sticht etwas positiv hervor mit 3 Buy- und 0 Sell-Einschätzungen.
Das Community-Kursziel von 66 € für Drägerwerk AG & Co. KGaA ST deutet auf eine deutliche Steigerung um mehr als 50% gegenüber dem aktuellen Kurs von 42.7 € hin.