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

25.04.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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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


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   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
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1888701 25.04.2024 CET/CEST