Drägerwerk AG & Co. KGaA: Preliminary H1 2024 Earnings Exceed Previous Year

Drägerwerk AG & Co. KGaA has reported preliminary earnings for the first half of 2024 that surpass the previous year's figures, despite a slight decline in net sales. The company experienced lower net sales and earnings in the first quarter due to base effects but recovered in the second quarter. EBIT reached EUR 56 million, a 16.9 percent increase from the prior year. One-time effects, including the sale of a non-core business and property, contributed approximately EUR 20 million to EBIT.

Net sales amounted to EUR 1,520 million, down 0.3 percent from the previous year. The safety division saw an 8.8 percent increase in net sales, while the medical division recorded a 6.5 percent decline. The order intake rose by 0.9 percent to EUR 1,604 million. The safety division's order intake increased by 4.1 percent, whereas the medical division faced a 1.5 percent decrease.

In the second quarter, order intake grew by 0.3 percent to EUR 794 million. The safety division's sales rose by 7.9 percent, while the medical division's sales fell by 2.3 percent. EBIT for the second quarter amounted to EUR 41 million, with an EBIT margin of 5.2 percent.

Dräger confirms its outlook for the fiscal year, anticipating a net sales increase of 1.0 to 5.0 percent and an EBIT margin between 2.5 and 5.5 percent. Full results will be published on July 25, 2024.