EQS-News: Drägerwerk AG & Co. KGaA: Dräger significantly increases net sales and profit in fiscal year 2023 and pays significantly higher dividend
Net sales in the safety division even rose by 17.2 percent (net of currency effects) to EUR 1,407.3 million (2022: EUR 1,223.7 million).
EQS-News: Drägerwerk AG & Co. KGaA / Key word(s): Annual Report/Dividend Drägerwerk AG & Co. KGaA: Dräger significantly increases net sales and profit in fiscal year 2023 and pays significantly higher dividend 07.03.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Dräger significantly increases net sales and profit in fiscal year 2023 and pays significantly higher dividend
Lübeck – Drägerwerk AG & Co. KGaA increased its net sales by 13.1 percent (net of currency effects) to EUR 3,373.5 million in the 2023 fiscal year (2022: EUR 3,045.2 million) and significantly improved its profitability: earnings before interest and taxes (EBIT) were clearly positive again at EUR 166.4 million (2022: EUR -88.6 million), while the EBIT margin rose by 7.8 percentage points to 4.9 percent (2022: -2.9 percent). Originally, Dräger had expected an increase in net sales of 7.0 to 11.0 percent (net of currency effects) and an EBIT margin of 0.0 to 3.0 percent. “In 2023, we returned to growth and profitability as promised and even exceeded our original forecast for the year,” says Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG. “Thanks to the noticeable improvement in delivery capability and the continued good demand for our products and services, we were able to significantly increase our net sales and return to black figures. The bottom line at the end of 2023 was a clear profit, which is attributable not only to strong net sales growth but also to our successful cost management.” Net sales growth across both divisions and all regions Significant profit and strongly improved profitability Order intake slightly above high prior-year figure In the medical division, order intake decreased by 1.3 percent (net of currency effects) to EUR 1,916.2 million (2022: EUR 1,979.3 million). This was due in particular to the lower demand for ventilators and anesthesia devices as well as products from patient monitoring. This decline contrasted with tangible growth in the service business and in the area of hospital infrastructure. In the safety division, order intake increased by 7.4 percent (net of currency effects) to EUR 1,373.8 million (2022: EUR 1,305.4 million). Growth was driven in particular by our gas detection devices area, which had been increasingly affected by supply chain problems during the prior year and benefited from pent-up demand for customer orders in 2023 thanks to the improved delivery capability. Our service business also grew significantly. Business development in the fourth quarter Dräger's net sales increased by 5.1 percent (net of currency effects) to EUR 1,052.6 million (Q4 2022: EUR 1,018.2 million). At 41.6 percent, the gross margin was also significantly above the prior-year figure (Q4 2022: 41.0 percent). EBIT improved to EUR 89.5 million (Q4 2022: EUR 59.7 million). The EBIT margin was 8.5 percent (Q4 2022: 5.9 percent). Dividend Forecast for 2024 “Our markets for medical and safety technology are in good shape worldwide and offer us excellent growth opportunities. Demand for our ›Technology for Life‹ remains high. We are therefore well placed to become even more profitable. This will be our focus in the future,” says Stefan Dräger. “Over the coming years, we want to continue to increase our margin, by one percentage point per year on average. This will enable us to continuously generate a positive value contribution, i.e. a positive DVA, and increase the Company's value.” Further information is available in the financial report at www.draeger.com. Disclaimer
07.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
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: | [email protected] |
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: | 1853121 |
End of News | EQS News Service |
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1853121 07.03.2024 CET/CEST