Net sales and earnings significantly above prior year – Dividend increase – Forecast 2024
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EQS-Ad-hoc: Drägerwerk AG & Co. KGaA / Key word(s): Preliminary Results/Forecast Ad-hoc notification in accordance with Sec. 17 of the MAR Drägerwerk AG & Co. KGaA: Preliminary figures 2023: Net sales and earnings significantly above prior year – Dividend increase – Forecast 2024 Lübeck, January 15, 2024 – Dräger's net sales and earnings increased significantly in fiscal year 2023 based on preliminary calculations. This was due in particular to the noticeable improvement in delivery capability as a result of diminishing global supply chain problems, which enabled Dräger to generate strong net sales growth from the high order backlog of the prior year and from the continued high demand for Dräger products and services. At the beginning of the year, Dräger also benefited from the surge in demand for ventilators in China. On the earnings side, the successful cost management had a positive impact in addition to the good net sales development. Net sales in fiscal year 2023 increased by 13.2 percent (net of currency effects; nominal: 10.8 percent) to around EUR 3,374 million (2022: EUR 3,045.2 million). The medical division recorded growth of 10.4 percent (net of currency effects; nominal: 8.0 percent) to around EUR 1,967 million (2022: EUR 1,821.5 million) and the safety division an increase of 17.3 percent (net of currency effects; nominal: 15.0 percent) to around EUR 1,407 million (2022: EUR 1,223.7 million). The Group's gross margin rose to around 43.3 percent (2022: 40.7 percent), in particular due to higher production and service utilization and more effective price enforcement. Earnings before interest and taxes (EBIT) improved to around EUR 167 million (2022: EUR -88.6 million). The EBIT margin amounted to around 4.9 percent (2022: -2.9 percent). The preliminary calculated order intake increased by 1.8 percent (net of currency effects; nominal: -0.2 percent) to around EUR 3,280 million in fiscal year 2023 and was therefore currency-adjusted above the high level of the prior year (2022: EUR 3,284.7 million). In the medical division, order intake decreased by 1.8 percent (net of currency effects; nominal: -3.7 percent) to around EUR 1,907 million (2022: EUR 1,979.3 million). This was offset by an increase in the safety division of 7.3 percent (net of currency effects; nominal: 5.2 percent) to around EUR 1,373 million (2022: EUR 1,305.4 million). Overall, Dräger returned to growth and profitability in fiscal year 2023 as planned. At the same time, the preliminary figures with a net sales increase of 13.2 percent (net of currency effects) and an EBIT margin of around 4.9 percent are above Dräger's own original expectations, according to which Dräger had expected a net sales increase of 7.0 to 11.0 percent (net of currency effects) and an EBIT margin of 0.0 to 3.0 percent. Dividend proposal Forecast for 2024 The full 2023 Annual Report will be published on March 7, 2024.
Drägerwerk AG & Co. KGaA
Investor Relations:
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Disclaimer End of Inside Information
15-Jan-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Drägerwerk AG & Co. KGaA |
| Moislinger Allee 53-55 | |
| 23558 Lübeck | |
| Germany | |
| Phone: | +49 (0)451 882-0 |
| Fax: | +49 (0)451 882-2080 |
| E-mail: | info@draeger.com |
| Internet: | www.draeger.com |
| ISIN: | DE0005550602, DE 000 555 063 6, DE 000 555 071 9 |
| WKN: | 555060, 555063 Vorzüge, 555071 Genussschein D |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1815439 |
| End of Announcement | EQS News Service |
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1815439 15-Jan-2024 CET/CEST
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