EQS-News: Drägerwerk AG & Co. KGaA: Dräger significantly increases net sales and earnings in the first nine months of 2023
EQS-News: Drägerwerk AG Co. KGaA
/ Key word(s): 9 Month figures/Quarter Results
Dräger significantly increases net sales and earnings in the first nine months of 2023
Lübeck – Drägerwerk AG Co. KGaA increased its net sales by 17.1 percent (net of currency effects) to EUR 2,320.9 million in the first nine months of 2023 (9 months 2022: EUR 2,027.0 million) and significantly improved its profitability: earnings before interest and taxes (EBIT) were clearly positive again at EUR 76.9 million (9 months 2022: EUR -148.3 million), while the EBIT margin rose by 10.6 percentage points to 3.3 percent (9 months 2022: -7.3 percent). “During the first nine months of the current fiscal year, we significantly increased our net sales and earnings. We are thus well on track to return to growth and profitability in the full year 2023,” says Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG. “Our delivery capability has significantly improved. This enabled us to realize the potential net sales from our high order backlog, with which we started the fiscal year, more quickly. In addition, we benefited from exceptionally high demand for ventilators in China in early 2023. Overall, demand for our products and services remained high during the first nine months. Successful cost management also paid off and, in conjunction with good net sales growth, led to a very positive result.” Net sales growth across both divisions and all regions In the safety division, net sales increased by 19.9 percent (net of currency effects) to EUR 961.7 million (9M 2022: EUR 818.7 million), driven by strong growth in all regions. Both divisions benefited from a noticeable improvement in supply capability and a positive order trend. Significant improvement in profitability Order intake slightly above high prior-year figure In the medical division, order intake decreased by 1.7 percent (net of currency effects) to EUR 1,410.7 million (9 months 2022: EUR 1,462.1 million). This was due in particular to demand in the area of patient monitoring and for anesthesia devices, both of which declined again following the strong increase in the prior-year period. This decline contrasted with tangible growth in the service business. In the safety division, order intake increased by 5.5 percent (net of currency effects) to EUR 992.7 million (9 months 2022: EUR 962.0 million). Growth was driven in particular by our gas detection devices and service business. Business development in the third quarter Dräger's net sales increased by 12.6 percent (net of currency effects) to EUR 788.5 million (Q3 2022: EUR 724.6 million). At 44.0 percent, the gross margin was also significantly above the prior-year figure (Q3 2022: 40.6 percent). EBIT improved to EUR 29.2 million (Q3 2022: EUR -36.6 million). EBIT margin was 3.7 percent (Q3 2022: -5.0 percent). Full-year forecast raised “Thanks to the positive business development during the third quarter, our expectations for the full year are now more optimistic than before: In terms of net sales growth, we are likely to reach the upper end of the forecast, and we also expect a higher EBIT margin,” says Stefan Dräger. For net sales, Dräger expects a currency-adjusted increase of 7.0 to 11.0 percent (which corresponds to nominal growth of 4.5 to 8.5 percent based on current exchange rates). The forecast for EBIT margin has been raised from 0.0 to 3.0 percent to 2.0 to 4.0 percent. Further information is available in the financial report at www.draeger.com. Disclaimer
02.11.2023 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: | 1762955 |
End of News | EQS News Service |
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1762955 02.11.2023 CET/CEST
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