DGAP-Adhoc
Drägerwerk AG & Co. KGaA: One-off effects impact result. Dräger revises 2015 annual forecast. Efficiency program intensified.
Drägerwerk AG & Co. KGaA / Key word(s): Profit Warning
13.10.2015 20:42
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Ad hoc reports in accordance with Sec. 15 of the German Securities Trading
Act
Drägerwerk AG & Co. KGaA: One-off effects impact result. Dräger revises
2015 annual forecast. Efficiency program intensified.
Based on preliminary figures, Drägerwerk AG & Co. KGaA concluded the third
quarter with a negative result partly due to one-off effects. The previous
annual forecast is now unlikely to be reached. In terms of the full-year
forecast, Dräger now anticipates net sales growth of 1.0 to 3.0 percent net
of currency effects and an EBIT margin of between 2.5 and 4.5 percent.
Compared to the prior-year quarter, order intake rose by 3.5 percent in the
third quarter. Dräger also recorded a 2.1 percent rise in net sales to EUR
604.0 million. Net of currency effects, order intake increased by 1.2
percent and net sales rose by 0.2 percent. In the medical division, order
intake was up by 1.8 percent (-0.9 percent net of currency effects),
whereas net sales increased by 2.5 percent (0.2 percent net of currency
effects). Orders in the safety division climbed by 6.9 percent (5.2 percent
net of currency effects), while net sales rose by 1.4 percent (0.0 percent
net of currency effects). Group EBIT totaled approximately EUR -23 million
(prior-year quarter: EUR 47.2 million), equating to an EBIT margin of -3.7
percent (prior-year quarter: 8.0 percent).
As a result, net sales in the first nine months of the year increased by
7.1 percent year on year (2.3 percent net of currency effects). Total EBIT
stood at roughly EUR 0 million (9 months 2014: EUR 81.2 million). The EBIT
margin fell from 4.9 percent in the prior-year period to 0.0 percent.
Business development in the Asia Pacific region, particularly in China, has
suffered a further downturn. Business in the region Americas also fell
short of expectations. In the safety division, business has not yet
improved in the raw materials sector, especially in areas particularly
dependent on the price of oil.
In addition, one-off effects such as write-downs on receivables and
inventories and provisions for quality costs had a negative impact of
roughly EUR 20 million on the third-quarter result.
The gross margin for the first nine months of the year stood at 44.5
Act
Drägerwerk AG & Co. KGaA: One-off effects impact result. Dräger revises
2015 annual forecast. Efficiency program intensified.
Based on preliminary figures, Drägerwerk AG & Co. KGaA concluded the third
quarter with a negative result partly due to one-off effects. The previous
annual forecast is now unlikely to be reached. In terms of the full-year
forecast, Dräger now anticipates net sales growth of 1.0 to 3.0 percent net
of currency effects and an EBIT margin of between 2.5 and 4.5 percent.
Compared to the prior-year quarter, order intake rose by 3.5 percent in the
third quarter. Dräger also recorded a 2.1 percent rise in net sales to EUR
604.0 million. Net of currency effects, order intake increased by 1.2
percent and net sales rose by 0.2 percent. In the medical division, order
intake was up by 1.8 percent (-0.9 percent net of currency effects),
whereas net sales increased by 2.5 percent (0.2 percent net of currency
effects). Orders in the safety division climbed by 6.9 percent (5.2 percent
net of currency effects), while net sales rose by 1.4 percent (0.0 percent
net of currency effects). Group EBIT totaled approximately EUR -23 million
(prior-year quarter: EUR 47.2 million), equating to an EBIT margin of -3.7
percent (prior-year quarter: 8.0 percent).
As a result, net sales in the first nine months of the year increased by
7.1 percent year on year (2.3 percent net of currency effects). Total EBIT
stood at roughly EUR 0 million (9 months 2014: EUR 81.2 million). The EBIT
margin fell from 4.9 percent in the prior-year period to 0.0 percent.
Business development in the Asia Pacific region, particularly in China, has
suffered a further downturn. Business in the region Americas also fell
short of expectations. In the safety division, business has not yet
improved in the raw materials sector, especially in areas particularly
dependent on the price of oil.
In addition, one-off effects such as write-downs on receivables and
inventories and provisions for quality costs had a negative impact of
roughly EUR 20 million on the third-quarter result.
The gross margin for the first nine months of the year stood at 44.5
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