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Drägerwerk AG & Co. KGaA: preliminary result for the second quarter. Business development considerably above prior year.

Drägerwerk AG & Co. KGaA / Key word(s): Preliminary Results
Drägerwerk AG & Co. KGaA: preliminary result for the second quarter. Business development considerably above prior year.

14-Jul-2020 / 19:08 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
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In the context of the COVID-19 pandemic, Dräger's net sales and EBIT development are considerably above the prior year.

Based on preliminary figures for the second quarter, Dräger recorded a year-on-year growth in order intake of 36.3 percent (net of currency effects; nominal: 33.6 percent). Net sales increased by 26.5 percent (net of currency effects; nominal: 24.3 percent) to around EUR 788.4 million (Q2 2019: EUR 634.3 million). EBIT for the second quarter stood at around EUR 102 million, considerably above the level of the prior year (Q2 2019: EUR -1.5 million). The higher earnings were caused by considerably higher net sales volume and a higher gross profit margin of around 49.2 percent (Q2 2019: 42.6 percent).

In the first six months of 2020, order intake increased by 75.7 percent year-on-year (net of currency effects; nominal: 73.5 percent). Due to the COVID-19 pandemic, demand in the medical division was exceptionally strong. In the safety division, demand for light breathing protection (e.g. FFP masks) was considerably above the prior year. Group net sales increased by 17.1 percent (net of currency effects; nominal: 15.6 percent) to around EUR 1,428.4 million (6 months 2019: EUR 1,235.9 million). Total EBIT stood at approximately EUR 102 million (6 months 2019: EUR -12.2 million).

Considering the high demand due to the COVID-19 pandemic, Dräger expects full year net sales and EBIT to be considerably above both the prior year and the original guidance. Dräger expects net sales growth for fiscal year 2020 to be between 14 percent and 22 percent (net of currency effects). The expectation for the EBIT margin is between 7.0 percent and 11.0 percent.

Dräger will publish its full results for the first six months of the fiscal year on August 13, 2020.

14-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
23542 Lübeck
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
Indices: TecDAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich; Regulated Unofficial Market in Stuttgart, Tradegate Exchange
EQS News ID: 1093659

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Last Updated: 14-Jul-2020