Drägerwerk AG & Co. KGaA: Dräger with strong net sales growth and positive earnings in the first quarter of 2023
EQS-News: Drägerwerk AG & Co. KGaA / Key word(s): Quarter Results/Forecast
Dräger with strong net sales growth and positive earnings in the first quarter of 2023
Lübeck—Drägerwerk AG & Co. KGaA increased its net sales by 18.0 percent (net of currency effects) to EUR 761.1 million in the first quarter of 2023 (3 months 2022: EUR 649.5 million) and significantly improved its profitability: earnings before interest and taxes (EBIT) were clearly positive at EUR 29.1 million (3 months 2022: EUR -35.1 million), while the EBIT margin rose by 9.2 percentage points to 3.8 percent (3 months 2022: -5.4 percent). Dräger confirms its full-year guidance.
“During the first quarter, we made a successful start to the new fiscal year with a strong increase in net sales and clearly positive earnings,” said Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG. “Our delivery capability has significantly improved. This has enabled us to realize potential net sales from our high order backlog much more quickly than before. In addition, the significant increase in demand for ventilators in China had a positive impact on our net sales development and earnings.”
Net sales growth across both segments and all regions
In the safety division, net sales increased by almost 11 percent (net of currency effects) to EUR 291.2 million (3 months 2022: EUR 264.3 million). Growth was driven in particular by the Europe and Americas regions, each with a significant increase, but the Africa, Asia, and Australia region also recorded an increase.
Significant improvement in profitability
Order intake slightly below high prior-year figure
In the medical division, order intake was around eight percent (net of currency effects) below the level of the prior-year period at EUR 465.3 million (3 months 2022: EUR 507.9 million). Demand for ventilators in China in the first quarter of 2023 was twice as high as in the prior-year period, but declined significantly compared to the fourth quarter of 2022. Dräger therefore expects this business to normalize further.
In the safety division, order intake increased by more than seven percent (net of currency effects) to EUR 338.4 million (3 months 2022: EUR 317.8 million). Growth was driven in particular by gas detection devices, engineered solutions and our services.
Growth and profitability expected for the full year
“The successful start to the year makes us confident of returning to growth and profitability in 2023 as planned. We expect demand for our products and services to remain strong,” said Stefan Dräger.
Further information is available in the financial report at www.draeger.com.
28.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
+49 (0)451 882-0
+49 (0)451 882-2080
DE0005550602, DE 000 555 063 6, DE 000 555 071 9
555060, 555063 Vorzüge, 555071 Genussschein D
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Stuttgart, Tradegate Exchange
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