BERLIN (dpa-AFX) - German medical and safety technology provider Draegerwerk
AG & Co. KGaA (DRWKF.PK) reported that its preliminary earnings before interest
and taxes or EBIT for the first-quarter of 2024 declined to around 15 million
euros from 29.1 million euros in the first-quarter of 2023.

Net sales for the first quarter of 2024 decreased 3.3% to around 736 million
euros from the prior year's 761.1 million euros, while it was down 2.6 percent
at net of currency effects.

In the first quarter of 2023, the company had benefited from catch-up effects as
a result of the noticeable improvement in delivery capability. In addition, a
surge in demand for ventilators in China had led to higher net sales. Both
effects were absent in the first quarter of 2024.

Demand for Drager products and services remained high overall. Order intake
increased by 0.9% to around 811 million euros from the previous year.

The company confirmed its forecast for the year and continues to expect net
sales growth of 1.0 to 5.0 percent (net of currency effects) and an EBIT margin
of 2.5 to 5.5 percent.

The company said it will publish the full results for the first quarter on April
25, 2024.

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