Drägerwerk AG & Co. KGaA: Dräger increases guidance for fiscal 2021

Drägerwerk AG & Co. KGaA / Key word(s): Change in Forecast
Drägerwerk AG & Co. KGaA: Dräger increases guidance for fiscal 2021

21-Jun-2021 / 19:24 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.

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

Drägerwerk AG & Co. KGaA: Dräger increases guidance for fiscal 2021

Lübeck, June 21, 2021

Based on order entry exceeding expectations during the first months of the year and a good business development expected for the rest of the year, Dräger is increasing its guidance for fiscal year 2021. Following the record year 2020, management now expects a currency-adjusted decrease in net sales of only between -2 and -6 percent for fiscal year 2021; currently, this would correspond to a nominal decrease in net sales of around -3 to -7 percent (previous expectation: currency-adjusted decrease in net sales of between -7 and -11 percent).

Due to the higher net sales expectation, the associated scale effects and the expected product mix, the earnings guidance is also being raised. The EBIT margin is now expected to reach between 8 and 11 percent (previous expectation: 5 to 8 percent).

The stronger business development in the current year is mainly due to the coronavirus pandemic. The demand trend is better than expected, as the need for products to treat patients suffering from COVID 19 is lasting longer than originally anticipated. The company continues to expect pandemic-related demand to normalize further in the current year and does not anticipate comparable demand in the coming fiscal year.

The earnings guidance is subject to the assumption of unchanged exchange rates. Due to the pandemic, the guidance is still subject to higher uncertainty than usual. In particular, it is based on functioning supply chains.

Dräger will publish its preliminary figures for the second quarter and the first half of 2021 in mid-July.

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

Investor Relations:
Thomas Fischler
Tel. +49 451 882-0
thomas.fischler@draeger.com

Corporate Communications:
Melanie Kamann
Tel. +49 451 882-0
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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