Drägerwerk AG & Co. KGaA: Dräger on Track to Meet Annual Forecast After Solid First Half-Year

Drägerwerk AG & Co. KGaA has reported a strong first half of 2024, aligning with annual forecasts. Order intake rose to EUR 1,604 million, surpassing the previous year's figures by EUR 8 million. Despite this, net sales decreased by 0.3%, standing at EUR 1,520.5 million compared to EUR 1,532.4 million in the same period of 2023.

The company achieved an EBIT of EUR 55.8 million, a 17% increase from the prior year, partly due to the sale of non-core businesses and property. The EBIT margin also rose to 3.7% from 3.1%.

Growth was driven by a 4.1% increase in the safety division's order intake, while the medical division faced a 1.5% dip, largely due to reduced demand for ventilators.

In the second quarter, Dräger’s net sales increased by 2% to EUR 784.7 million, with an accompanying rise in the gross margin to 44.3%. EBIT for the quarter saw a significant boost, reaching EUR 40.7 million.

The company maintains its annual forecast, anticipating net sales growth of 1.0 to 5.0% and an EBIT margin of 2.5 to 5.5%. CEO Stefan Dräger expressed optimism regarding profitability.