- Nachrichtendetail
-
25.04.2024 07:30:35 - EQS-News: Drägerwerk AG & Co. KGaA: Dräger with solid business performance in the first quarter of 2024
===
EQS-News: Drägerwerk AG & Co. KGaA / Key word(s): Quarter Results/Forecast
Drägerwerk AG & Co. KGaA: Dräger with solid business performance in the first quarter of 2024
2024-04-25 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
Dräger with solid business performance in the first quarter of 2024
. Order intake slightly above high prior-year level
. Net sales and earnings below strong prior-year quarter due to base effects
. Annual forecast confirmed
Lübeck - Drägerwerk AG & Co. KGaA increased its order intake in the first quarter of 2024 thanks to good overall
demand. At around EUR 811 million, order intake was around EUR 7 million above the high prior-year figure. In addition,
Dräger achieved a positive operating result in what is traditionally a weak reporting period for the Company. Compared
to the strong prior-year quarter, however, earnings and net sales declined as expected. Net of currency effects, net
sales fell by 2.6 percent to around EUR 735.8 million (3 months 2023: EUR 761.1 million). Earnings before interest and
taxes (EBIT) amounted to EUR 15.1 million (3 months 2023: EUR 29.1 million). The EBIT margin amounted to 2.0 percent
(3 months 2023: 3.8 percent).
"Our order intake increased in the first quarter. This shows that demand for our Technology for Life remains high,"
says Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG. "The fact that net sales and earnings
were down on the strong prior-year quarter is no surprise. Firstly, we had benefited from a noticeable improvement in
delivery capability, and thus from the processing of the order backlog. Secondly, the relaxation of the zero-Covid
policy in China had led to a surge in demand for our ventilators. As expected, neither effect was repeated."
Good demand in safety business
Net of currency effects, order intake increased by 1.5 percent to EUR 810.8 million in the first quarter of 2024 (3
months 2023: EUR 803.8 million), in particular due to the positive development in the Europe, Middle East, and Africa
region.
In the safety division, order intake rose by 6.1 percent (net of currency effects) to EUR 357.2 million (3 months 2023:
EUR 338.4 million). Growth was driven in particular by occupational health and safety equipment, respiratory and
personal protection products as well as alcohol and drug testing devices.
In the medical division, order intake decreased by 1.9 percent (net of currency effects) to EUR 453.7 million (3 months
2023: EUR 465.3 million). This was due in particular to the lack of a renewed wave of demand for ventilators in China.
As a result, order intake in the Asia-Pacific region fell significantly. In contrast, demand for devices in the areas
of thermoregulation, patient monitoring and anesthesia increased.
Safety business with significant net sales growth - Medical business down on the prior year
The safety division continued its net sales growth in the first quarter of 2024 and recorded an increase of 10.0
percent (net of currency effects) to EUR 318.4 million (3 months 2023: EUR 291.2 million), due in particular to the
good order situation.
In the medical division, net sales decreased by 10.4 percent (net of currency effects) to EUR 417.4 million (3 months
2023: EUR 469.9 million). This was due in particular to the China effect described above. In the same period of the
prior year, the division also benefited from catch-up effects as a result of the noticeable improvement in delivery
capability.
Positive EBIT in traditionally weak quarter
Due to the decline in net sales and the slight increase in functional expenses, EBIT of EUR 15.1 million in the first
quarter of 2024 was significantly below the prior-year figure (3 months 2023: EUR 29.1 million). At the same time, the
first quarter of 2024 was one of the best opening quarters of the past ten years in terms of earnings. The first
quarter is usually the weakest quarter of the fiscal year for Dräger.
Dräger's gross margin rose to 45.3 percent in the first quarter of 2024 (3 months 2023: 45.0 percent), in particular
due to high production utilization in the safety division. Earnings after taxes amounted to EUR 7.5 million (3 months
2023: EUR 17.2 million).
Annual forecast confirmed
Dräger confirms its forecast for the year and continues to anticipate 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.
"Despite the first quarter traditionally being the weakest in our fiscal year, we achieved a positive result. We are
therefore confident that we will achieve our forecast for the year," says Stefan Dräger.
Further information is available in the financial report at www.draeger.com.
Disclaimer
This press release 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.
Information on the financial indicators used (incl. alternative performance measures) can be found on our corporate
website www.draeger.com in our Investor Relations section.
Employees 16,476 16,284
===
-----------------------------------------------------------------------------------------------------------------------
2024-04-25 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
-----------------------------------------------------------------------------------------------------------------------
===
Moislinger Allee 53-55
23558 Lübeck
Germany
Tradegate Exchange
EQS News ID: 1888701
End of News EQS News Service
===
1888701 2024-04-25 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1888701&application_name=news
END) Dow Jones Newswires
April 25, 2024 01:30 ET (05:30 GMT)
EQS-News: Drägerwerk AG & Co. KGaA / Key word(s): Quarter Results/Forecast
Drägerwerk AG & Co. KGaA: Dräger with solid business performance in the first quarter of 2024
2024-04-25 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
Dräger with solid business performance in the first quarter of 2024
. Order intake slightly above high prior-year level
. Net sales and earnings below strong prior-year quarter due to base effects
. Annual forecast confirmed
Lübeck - Drägerwerk AG & Co. KGaA increased its order intake in the first quarter of 2024 thanks to good overall
demand. At around EUR 811 million, order intake was around EUR 7 million above the high prior-year figure. In addition,
Dräger achieved a positive operating result in what is traditionally a weak reporting period for the Company. Compared
to the strong prior-year quarter, however, earnings and net sales declined as expected. Net of currency effects, net
sales fell by 2.6 percent to around EUR 735.8 million (3 months 2023: EUR 761.1 million). Earnings before interest and
taxes (EBIT) amounted to EUR 15.1 million (3 months 2023: EUR 29.1 million). The EBIT margin amounted to 2.0 percent
(3 months 2023: 3.8 percent).
"Our order intake increased in the first quarter. This shows that demand for our Technology for Life remains high,"
says Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG. "The fact that net sales and earnings
were down on the strong prior-year quarter is no surprise. Firstly, we had benefited from a noticeable improvement in
delivery capability, and thus from the processing of the order backlog. Secondly, the relaxation of the zero-Covid
policy in China had led to a surge in demand for our ventilators. As expected, neither effect was repeated."
Good demand in safety business
Net of currency effects, order intake increased by 1.5 percent to EUR 810.8 million in the first quarter of 2024 (3
months 2023: EUR 803.8 million), in particular due to the positive development in the Europe, Middle East, and Africa
region.
In the safety division, order intake rose by 6.1 percent (net of currency effects) to EUR 357.2 million (3 months 2023:
EUR 338.4 million). Growth was driven in particular by occupational health and safety equipment, respiratory and
personal protection products as well as alcohol and drug testing devices.
In the medical division, order intake decreased by 1.9 percent (net of currency effects) to EUR 453.7 million (3 months
2023: EUR 465.3 million). This was due in particular to the lack of a renewed wave of demand for ventilators in China.
As a result, order intake in the Asia-Pacific region fell significantly. In contrast, demand for devices in the areas
of thermoregulation, patient monitoring and anesthesia increased.
Safety business with significant net sales growth - Medical business down on the prior year
The safety division continued its net sales growth in the first quarter of 2024 and recorded an increase of 10.0
percent (net of currency effects) to EUR 318.4 million (3 months 2023: EUR 291.2 million), due in particular to the
good order situation.
In the medical division, net sales decreased by 10.4 percent (net of currency effects) to EUR 417.4 million (3 months
2023: EUR 469.9 million). This was due in particular to the China effect described above. In the same period of the
prior year, the division also benefited from catch-up effects as a result of the noticeable improvement in delivery
capability.
Positive EBIT in traditionally weak quarter
Due to the decline in net sales and the slight increase in functional expenses, EBIT of EUR 15.1 million in the first
quarter of 2024 was significantly below the prior-year figure (3 months 2023: EUR 29.1 million). At the same time, the
first quarter of 2024 was one of the best opening quarters of the past ten years in terms of earnings. The first
quarter is usually the weakest quarter of the fiscal year for Dräger.
Dräger's gross margin rose to 45.3 percent in the first quarter of 2024 (3 months 2023: 45.0 percent), in particular
due to high production utilization in the safety division. Earnings after taxes amounted to EUR 7.5 million (3 months
2023: EUR 17.2 million).
Annual forecast confirmed
Dräger confirms its forecast for the year and continues to anticipate 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.
"Despite the first quarter traditionally being the weakest in our fiscal year, we achieved a positive result. We are
therefore confident that we will achieve our forecast for the year," says Stefan Dräger.
Further information is available in the financial report at www.draeger.com.
Disclaimer
This press release 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.
Information on the financial indicators used (incl. alternative performance measures) can be found on our corporate
website www.draeger.com in our Investor Relations section.
Key figures for the first quarter Q1 2024 Q1 2023 Change Net of cur- (EUR million) rency effects
Order intake 810.8 803.8 +0.9 +1.5 Germany 212.1 200.7 +5.7 +5.7 Europe, Middle East, and Africa 312.0 288.8 +8.0 +7.9 Americas 160.4 143.4 +11.9 +10.8 Asia-Pacific 126.3 170.8 -26.1 -22.2
Order intake, medical division 453.7 465.3 -2.5 -1.9 Order intake, safety division 357.2 338.4 +5.5 +6.1
Net sales 735.8 761.1 -3.3 -2.6 Germany 170.0 162.4 +4.7 +4.7 Europe, Middle East, and Africa 301.8 281.2 +7.3 +7.2 Americas 156.5 160.1 -2.3 -2.7 Asia-Pacific 107.6 157.4 -31.7 -27.6
Net sales, medical division 417.4 469.9 -11.2 -10.4 Net sales, safety division 318.4 291.2 +9.3 +10.0
EBIT 15.1 29.1 EBIT margin 2.0 3.8 Earnings after income taxes 7.5 17.2
EBIT margin, medical division -2.7 2.2 EBIT margin, safety division 8.3 6.5
Employees 16,476 16,284
===
-----------------------------------------------------------------------------------------------------------------------
2024-04-25 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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: 1888701
End of News EQS News Service
===
1888701 2024-04-25 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1888701&application_name=news
END) Dow Jones Newswires
April 25, 2024 01:30 ET (05:30 GMT)
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
DRAEGERWERK ST.A.O.N. | 555060 | Frankfurt | 46,200 | 07.06.24 08:03:36 | -0,500 | -1,07% | 0,000 | 0,000 | 46,200 | 46,200 |
