DGAP-Ad-hoc: Drägerwerk AG & Co. KGaA / Key word(s): Preliminary Results/Forecast
Drägerwerk AG & Co. KGaA: Preliminary figures for the first quarter of 2022 - Increasing difficulties in the supply of electronic components make the lower end of the full-year guidance likely
13-Apr-2022 / 21:59 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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Ad-hoc notification in accordance with Sec. 17 of the MAR
Drägerwerk AG & Co. KGaA: Dräger releases preliminary figures for the first quarter of 2022 - Increasing difficulties in the supply of electronic components make the lower end of the full-year guidance likely
Lübeck, April 13, 2022 - Based on preliminary calculations, Dräger's net sales in the first quarter of 2022 amounted to EUR 649.5 million (Q1 2021: EUR 792.1 million). Adjusted for currency effects, this was 19.5 percent below the record figure of the prior-year quarter. The main reason for this was the significantly lower demand for ventilators and respiratory protection masks, which had been strongly in demand until the end of last year in connection with the coronavirus pandemic. The resulting change in the product composition of net sales (mix effect) also resulted in a significantly lower gross profit margin of 42.2 percent (Q1 2021: 52.1 percent). In addition, sharply rising prices for intermediate products, such as electronic components, as well as unchanged high freight and logistics costs continued to weigh on earnings. EBIT in the first quarter of 2022 was around EUR -35 million (Q1 2021: EUR 128.9 million).
Order intake developed positively. Adjusted for currency effects, it increased by 10.2 percent to EUR 825.7 million (Q1 2021: EUR 739.8 million) in the first quarter of 2022, growing both in the Medical and Safety divisions.
Business performance in the first quarter is therefore in line with the previously published guidance, which expects a currency-adjusted decline in net sales of between -5.0 and -9.0 percent and an EBIT margin of between 1.0 and 4.0 percent for the current year. The Executive Board confirms the guidance, but now considers the lower end likely due to the increasing difficulties in the supply of electronic components.
The full results for the first three months of the fiscal year will be published on April 28, 2022.
Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
23558 Lübeck, Deutschland
Tel. +49 451 882-2685
Tel. +49 451 882-3998
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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