Drägerwerk AG & Co. KGaA: preliminary result for the first quarter 2021. Net sales and earnings considerably above prior year.

Drägerwerk AG & Co. KGaA / Key word(s): Preliminary Results
Drägerwerk AG & Co. KGaA: preliminary result for the first quarter 2021. Net sales and earnings considerably above prior year.

14-Apr-2021 / 20:41 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: preliminary result for the first quarter 2021. Net sales and earnings considerably above prior year.

After the record order entry in the same quarter of the previous year in the wake of the COVID-19 pandemic that flared up at the time, the incoming orders at Dräger in the first quarter of 2021 were, as expected, lower. At around EUR 739.8 million (Q1 2020: EUR 1,392.7 million), order entry in the first quarter was around -44.9 percent (net of currency effects) below the same quarter of the previous year.

On the basis of preliminary figures, however, net sales in the first quarter of 2021 were significantly higher than the same period of the previous year. Net of currency effects, net sales rose by around 28.2 percent (nominal: 23.8 percent) to around EUR 792.1 million (Q1 2020: EUR 640.0 million). Net sales increased in the medical as well as the safety division. The gross margin was around 52.1 percent (Q1 2020: 44.2 percent). The functional expenses were 2.4 percent (net of currency effects; nominal: 0.5 percent) above the previous year's figure. The EBIT for the first quarter was around EUR 129 million (Q1 2020: EUR -0.6 million), which corresponds to an EBIT margin of around 16.3 percent (Q1 2020: - 0.1 percent).

For the full year, Dräger expects a currency-adjusted decline in net sales of between - 7.0 and - 11.0 percent and an EBIT margin of between 5.0 and 8.0 percent. The business development in the first quarter was above the original expectations, so that the probability of the upper end of the forecast or even exceeding the forecast has increased. The current epidemic situation does not permit a more precise forecast at this point in time and also contains signs of a general weakening of economic development. Dräger will review the forecast again at the latest with the half-year results and refine it if necessary.

Dräger will publish its full results for the first quarter on April 29, 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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