Preliminary figures 2011

Another record net sales and earnings year for Dräger

Drägerwerk AG & Co. KGaA /
Preliminary figures 2011: Another record net sales and earnings year for Dräger
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Lübeck - According to the preliminary, unaudited financial statements,
Drägerwerk AG & Co. KGaA achieved record net sales of around EUR 2.3 billion in
fiscal year 2011 (2010: EUR 2.2 billion), corresponding to net sales growth of
3.6 percent. The EBIT margin was 9.5 percent, coming in at the upper limit of
the forecast of 8.5 percent to 9.5 percent. Overall, Dräger increased its
earnings before interest and taxes by approximately 11 percent year-on-year and
closed fiscal year 2011 with EBIT of some EUR 214 million (2010: EUR 193
million). This amount also includes expenses for the implementation of the new
sales structure in the mid one-digit million euro range advised for 2012.

As a result of the extraordinarily strong fourth quarter, the medical division´s
net sales went up by 0.9 percent to approximately EUR 1.5 billion. The EBIT
margin came to around 12.9 percent (2010: 12.7 percent) according to preliminary
data. This positive development was mainly the result of extraordinarily high
net sales, particularly from countries with above-average margins, as well as an
advantageous product mix in the fourth quarter of 2011.

The safety division´s net sales rose by 9.4 percent to EUR 0.8 billion. The EBIT
margin amounted to around 9.5 percent (2010: 8.3 percent) according to
preliminary estimates. In 2011, the safety division profited in particular from
an upturn in industrial demand.

Growth expected to continue in 2012
Dräger again expects to grow at least at the pace of overall global economic
growth in 2012 (IMF January 2012 estimate: +3.3 percent). However, as announced
in November 2011, research and development as well as IT costs are likely to
rise higher than net sales in 2012: Based on stable market development, the
Company continues to anticipate a Group EBIT margin of between 8.0 percent and
9.5 percent for fiscal year 2012. In the medium term, the new sales structure
will significantly reduce sales expenses and tap into additional growth
potential. All in all, Dräger expects to make relative marketing and sales costs
savings of at least one percentage point by the end of 2014. The Company also
plans to continue to grow faster than the market and achieve a minimum EBIT
margin of 10 percent in the medium term.

Preliminary figures 2011 (EUR million)

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