===
EQS-Ad-hoc: Drägerwerk AG & Co. KGaA / Key word(s): Preliminary Results/Forecast
Drägerwerk AG & Co. KGaA: Preliminary figures H1 2024: Earnings above prior year
12-Jul-2024 / 18:47 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News
- a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad-hoc notification in accordance with Sec. 17 of the MAR
Drägerwerk AG & Co. KGaA: Preliminary figures H1 2024: Earnings above prior year
Lübeck, July 12, 2024 - Dräger's earnings in the first half of the year were up on the prior-year figure despite a
slight decline in net sales. Net sales and earnings in the first quarter were still lower than in the prior year,
mainly due to base effects. In the second quarter, Dräger was able to make up for the shortfall in earnings. At around
EUR 56 million, earnings before interest and taxes (EBIT) were up around 16.9 percent on the prior-year figure in the
first half of 2024 (6 months 2023: EUR 47.7 million). In addition to the solid operating business performance, several
one-time effects contributed around EUR 20 million to EBIT. Among other things, these included the sale of a non-core
local business activity and the sale of property.
At around EUR 1,520 million, net sales were 0.3 percent (net of currency effects; nominal: -0.8 percent) below the
prior-year figure (6 months 2023: EUR 1,532.4 million). In the prior-year period, Dräger had benefited from strong
catch-up effects as a result of the noticeable improvement in delivery capacity and a surge in demand for ventilators
in China. As expected, both effects were absent in the first half of 2024.
The safety division continued its net sales growth in the first half of 2024 and recorded an increase of 8.8 percent
(net of currency effects; nominal: 8.5 percent) to around EUR 674 million (6 months 2023: EUR 621.6 million). The
medical division recorded a decline of 6.5 percent (net of currency effects; nominal: -7.1 percent) to around EUR 846
million (6 months 2023: EUR 910.7 million), which is mainly due to the aforementioned base effects in the prior year.
The Group's gross margin rose to around 44.8 percent (6 months 2023: 44.0 percent). The EBIT margin amounted to around
3.7 percent (6 months 2023: 3.1 percent).
Preliminary order intake rose by 0.9 percent (net of currency effects; nominal: 0.5 percent) to around EUR 1,604
million and was therefore above the high prior-year level (6 months 2023: EUR 1,596.6 million). In the safety division,
order intake increased by 4.1 percent (net of currency effects; nominal: 3.7 percent) to around EUR 704 million (6
months 2023: EUR 679.1 million). In the medical division, it decreased by 1.5 percent (net of currency effects;
nominal: -1.9 percent) to around EUR 900 million (6 months 2023: EUR 917.5 million). This was due in particular to the
significant decline in demand for ventilators, which had still been driven by China in the first quarter of 2023.
Business performance in the second quarter of 2024
In the second quarter, order intake increased by 0.3 percent (net of currency effects; nominal: 0.1 percent) to around
EUR 794 million (Q2 2023: EUR 792.9 million). In the safety division, order intake rose by 2.0 percent (net of currency
effects; nominal: 1.9 percent) to around EUR 347 million (Q2 2023: EUR 340.7 million). In the medical division, it
decreased by 1.0 percent (net of currency effects; nominal: -1.3 percent) to around EUR 446 million (Q2 2023: EUR 452.2
million).
Net sales rose by 2.0 percent (net of currency effects; nominal: 1.7 percent) to around EUR 785 million (Q2 2023: EUR
771.3 million). The safety division continued its growth and recorded an increase of 7.9 percent (net of currency
effects; nominal: 7.7 percent) to around EUR 356 million (Q2 2023: EUR 330.4 million). The medical division recorded a
decline of 2.3 percent (net of currency effects; nominal: -2.7 percent) to around EUR 429 million (Q2 2023: EUR 440.8
million). This is due in particular to the weak development in China. The Group's gross margin rose to around 44.3
percent (Q2 2023: 43.1 percent). EBIT amounted to around EUR 41 million (Q2 2023: EUR 18.7 million). The EBIT margin
amounted to around 5.2 percent (Q2 2023: 2.4 percent).
Dräger confirms its outlook for the current fiscal year and expects net sales to increase by 1.0 to 5.0 percent (net of
currency effects) and the EBIT margin to be between 2.5 and 5.5 percent. Due to the continued moderate development of
demand in the medical division, we now tend to expect net sales growth in the lower half of the forecast range. In
addition, we now consider an EBIT margin in the upper half of the forecast range to be more likely due to the positive
one-off effects in current earnings.
The full results for the first six months of the fiscal year will be published on July 25, 2024.
Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
23558 Lübeck, Germany
www.draeger.com

Investor Relations:
Thomas Fischler
Tel. +49 451 882-2685
thomas.fischler@draeger.com

Corporate Communications:
Melanie Kamann
Tel. +49 451 882-3998
melanie.kamann@draeger.com

Disclaimer
This ad hoc report contains statements on the future development of Dräger Group. These forward-looking statements are
based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information
available to date. They were compiled to the best of the company's knowledge. Dräger does not provide any warranty nor
assume any responsibility for the future developments and results described above. These are dependent on a number of
factors. They entail various risks and contingencies outside of the company's influence and are based on assumptions
which could prove to be incorrect. Dräger does not assume any responsibility for updating the forward-looking
statements contained in this report. This does not infringe any legal stipulations on the adjustment of forecasts.
Please go to Investor Relations / Definitions of financial indicators at www.draeger.com for information on alternative
performance measures used.
End of Inside Information
12-Jul-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press
Releases.

Archive at www.eqs-news.com  
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:       info@draeger.com 
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: 1945621

End of Announcement EQS News Service
===
1945621 12-Jul-2024 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1945621&application_name=news&site_id=dow_jones%7e%7e%7e43f1f857-252a-44a4-bbde-f4a32f6a5492

END) Dow Jones Newswires

July 12, 2024 12:48 ET (16:48 GMT)