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Drägerwerk AG & Co. KGaA: In the third quarter, net sales and EBIT were below the strong prior-year level. Overall strong business performance in the first nine months. Outlook confirmed.

10/14/2021 | 02:53pm EST

DGAP-Ad-hoc: Drägerwerk AG & Co. KGaA / Key word(s): Preliminary Results Drägerwerk AG & Co. KGaA: In the third quarter, net sales and EBIT were below the strong prior-year level. Overall strong business performance in the first nine months. Outlook confirmed. 14-Oct-2021 / 20:52 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. The issuer is solely responsible for the content of this announcement.

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Ad-hoc notification in accordance with Sec. 17 of the MAR

Drägerwerk AG & Co. KGaA: In the third quarter, net sales and EBIT were below the strong prior-year level. Overall strong business performance in the first nine months. Outlook confirmed. Lübeck, October 14, 2021

In the third quarter of 2021, Dräger's net sales and earnings were significantly below the strong prior-year figures. Based on preliminary figures, the Group's net sales of around EUR 770 million were currency adjusted -11.8 percent (nominal -10.8 percent) below the prior-year level (Q3 2020: EUR 862.5 million). At around 48 million euros, EBIT generated in the third quarter was also significantly below the prior-year figure (Q3 2020: 126.7 million euros). This was due to lower sales in connection with the coronavirus pandemic and the lower gross profit margin of around 46.9 percent (Q3 2020: 48.2 percent). At the same time, higher functional expenses impacted earnings.

In the first nine months, net sales thus totaled around 2,403 million euros, representing an increase of currency adjusted 6.3 percent (nominal 4.9 percent) compared to the prior-year level (9 months 2020: 2,290.9 million euros). EBIT was around 257 million euros, up on the prior-year level (9 months 2020: 228.3 million euros).

Order intake in the third quarter of around 760 million euros developed well ahead of the typically seasonally strong fourth quarter. However, material shortages for electronic components have increased the risk in the supply chain. As a result, management continues to expect the Dräger Group's net sales to decline by between -2.0 and -6.0 percent in constant currency and the EBIT margin to be between 8.0 and 11.0 percent in the current fiscal year following the record year in 2020. Dräger expects pandemic-related demand to normalize and does not anticipate comparable demand in the coming year.

Dräger will publish the full results for the first nine months of the fiscal year on October 28, 2021.

Drägerwerk AG & Co. KGaA Moislinger Allee 53-55 23558 Lübeck, Deutschland www.draeger.com

Investor Relations: Thomas Fischler Tel. +49 451 882-2685 thomas.fischler@draeger.com

Corporate Communications: Melanie Kamann Tel. +49 451 882-3998 melanie.kamann@draeger.com

Disclaimer This ad hoc report contains statements on the future development of Dräger Group. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information available to date. They were compiled to the best of the company's knowledge. Dräger does not provide any warranty nor assume any responsibility for the future developments and results described above. These are dependent on a number of factors. They entail various risks and contingencies outside of the company's influence and are based on assumptions which could prove to be incorrect. Dräger does not assume any responsibility for updating the forward-looking statements contained in this report. This does not infringe any legal stipulations on the adjustment of forecasts. Please go to Investor Relations / Definitions of financial indicators at www.draeger.com for information on alternative performance measures used.

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14-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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Language:     English 
Company:      Drägerwerk AG & Co. KGaA 
              Moislinger Allee 53-55 
              23542 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 Berlin, Frankfurt (Prime Standard), Hamburg, Hanover; Regulated Unofficial Market in 
              Stuttgart, Tradegate Exchange 
EQS News ID:  1240976 
 
End of Announcement  DGAP News Service 
=------------ 

1240976 14-Oct-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1240976&application_name=news

(END) Dow Jones Newswires

October 14, 2021 14:52 ET (18:52 GMT)

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