Drägerwerk AG & Co. KGaA / Key word(s): Profit Warning
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc report in accordance with Sec. 15 of the German Securities Trading
Dräger exceeds previous forecast; EBIT margin in the range of up to 9.7
Net sales grow by 2.6 percent (net of currency effects) to EUR 2.4 billion
On the basis of preliminaries, Drägerwerk AG & Co. KGaA achieved an EBIT
margin in the range of up to 9.7 percent in fiscal year 2012 (2011: 9.5
percent). This result exceeds the EBIT margin forecast that Dräger
published in its third quarterly report (EBIT margin in the mid-range of
8.0 percent to 9.5 percent). Net sales rose by some 5.3 percent year on
year to almost EUR 2.4 billion. The company saw order intake rise by some
4.8 percent to a good EUR 2.4 billion. Net of currency effects, net sales
growth amounted to roughly 2.6 percent and order intake growth totaled
approximately 2.2 percent.
The main reasons for the increased earnings development: The share of
end-of-year orders in especially profitable business areas was better than
expected. For example, demand for ventilators was particularly strong.
Business with industrial customers also developed positively. In addition,
Dräger profited from strong demand from countries with above-average
margins. The ratio of general administrative and sales expenses to net
sales was also down on the previous year. Furthermore, some of the expenses
originally planned for the fourth quarter were not incurred.
As in the prior year, employees share in the Company´s good performance
through special variable payments reached as part of a supplementary
collective agreement (formerly special vacation and Christmas pay). Based
on the preliminaries, this payment increases to some EUR 3,000 per employee
Dräger expects net sales growth (net of currency effects) for fiscal year
2013 to be more or less on par with the level seen in 2012. The EBIT margin
is expected to be between 8.0 percent and 10.0 percent, depending
especially on the country and product mix.
Details on the medium-term guidance will be communicated with the
publication of the audited figures on March 12, 2013.
The published net sales and margin estimates are based on the assumption of
a steady development in the markets relevant for Dräger and unchanged
Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
23558 Lübeck, Germany
Phone: +49 451 882-2685
Phone: +49 451 882-3998
This ad hoc report 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. Please go to Investoren / Finanzkalender at
www.draeger.com for information on all important financial dates.
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Company: Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
Phone: +49 (0)451 882-0
Fax: +49 (0)451 882-2080
ISIN: DE0005550602, DE 000 555 063 6, DE 000 555 065 1, DE 000 555
067 7, DE 000 555 071 9
WKN: 555060, 555063 Vorzüge, 555065 Genussschein A, 555067 Genussschein K, 555071 Genussschein D
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, Hannover, München; Freiverkehr in
End of Announcement DGAP News-Service