EQS-News

Drägerwerk AG & Co. KGaA: Dräger with strong net sales growth and positive earnings in the first quarter of 2023 - Seite 2

In the safety division, net sales increased by almost 11 percent (net of currency effects) to EUR 291.2 million (3 months 2022: EUR 264.3 million). Growth was driven in particular by the Europe and Americas regions, each with a significant increase, but the Africa, Asia, and Australia region also recorded an increase.

Significant improvement in profitability
The earnings development in the first quarter of 2023 was positively impacted in particular by strong net sales growth and a higher gross margin. The latter increased significantly to 45.0 percent (3 months 2022: 42.2 percent), mainly as a result of price increases. Earnings after income taxes also improved significantly and amounted to EUR 17.2 million (3 months 2022: EUR -27.1 million).

Order intake slightly below high prior-year figure
At around EUR 804 million, order intake was at a high level and, net of currency effects, only just under two percent below the strong prior-year figure (3 months 2022: EUR 825.7 million). In the Americas as well as Africa, Asia, and Australia region, order intake decreased significantly, while demand in Europe increased noticeably.

In the medical division, order intake was around eight percent (net of currency effects) below the level of the prior-year period at EUR 465.3 million (3 months 2022: EUR 507.9 million). Demand for ventilators in China in the first quarter of 2023 was twice as high as in the prior-year period, but declined significantly compared to the fourth quarter of 2022. Dräger therefore expects this business to normalize further.

In the safety division, order intake increased by more than seven percent (net of currency effects) to EUR 338.4 million (3 months 2022: EUR 317.8 million). Growth was driven in particular by gas detection devices, engineered solutions and our services.

Growth and profitability expected for the full year
For 2023, Dräger continues to expect an increase in net sales of between 7.0 and 11.0 percent (net of currency effects) and an EBIT margin of 0.0 to 3.0 percent. The current order backlog remains high despite the significant increase in deliveries in the first quarter. This will enable Dräger to generate significant net sales in the coming months as well.