EQS-News

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 Drägerwerk AG & Co. KGaA: Dräger with strong net sales growth and positive earnings in the first quarter of 2023 28.04.2023 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Dräger with strong net sales growth and positive earnings in the first quarter of 2023

• Net sales increase of 18 percent compared to the same quarter in the previous year
• Net sales growth across both divisions and all regions
• EBIT well up at around EUR 29 million
• Noticeable improvement in supply capability as well as temporarily high demand for ventilators in China
• Order intake slightly below high prior-year level
• Annual forecast confirmed

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 medical division, net sales increased by 23 percent (net of currency effects) to EUR 469.9 million (3 months 2022: EUR 385.2 million), driven by significant growth in all regions, but particularly Africa, Asia, and Australia, where net sales rose by almost half, primarily due to high demand for ventilators in China.