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 25.04.2024 / 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.