Brief: Draegerwerk Expects Lower Net Sales And Earnings In FY 2021

Draegerwerk AG & Co KGaA

29/10/2020 06:32

Oct 29 (Reuters) - Draegerwerk  DRWG_p.DE :
    * ORDER INTAKE AND NET SALES SEE SIGNIFICANT GROWTH IN FIRST
NINE
MONTHS
    * WITH PUBLICATION OF FIRST QUARTER RESULTS DRÄGER ANNOUNCED
TO
CLEARLY SURPASS THE ORIGINAL GUIDANCE FOR 2020. ON THE OCCASION
OF Q2 THIS WAS THEN SPECIFIED WITH A SIGNIFICANTLY HIGHER RANGE
FOR NET SALES/EARNINGS
    * DRÄGER’S ORDER INTAKE INCREASED BY 13.0 PERCENT IN THE
THIRD
QUARTER OF 2020(NET OF CURRENCY EFFECTS)
    * DUE TO STRONG DEMAND FORVENTILATORS IN THE PAST FEW MONTHS
DELIVERY DATES EXTEND INTO 2021 AND HADAN IMPACT ON ORDER INTAKE
    * GIVEN THE DYNAMIC NET SALES DEVELOPMENT IN THE FIRST NINE
MONTHS
OF THE YEAR,DRÄGER EXPECTS TO GENERATE NET SALES GROWTH IN THE
MID- TO UPPER RANGE OF THE FORECAST CORRIDOR OF 14 TO 22 PERCENT
IN FISCAL YEAR 2020.
    * DRÄGER ALSO ANTICIPATES A FULL-YEAR EBIT MARGIN IN THE
MID- TO
UPPER RANGE OF THE FORECAST CORRIDOR OF 7 TO11 PERCENT
    * AT THE MOMENT, DRÄGER EXPECTS NET SALES VOLUME AND
THEREFORE
ALSO EARNINGS INFISCAL YEAR 2021 TO BE LOWER THAN THE LEVELS
RECORDED IN 2020
    * DRÄGER WILL PROVIDE A DETAILED FORECAST FOR FISCAL YEAR
2021
WITH THE PUBLICATION OF THE RESULTS FOR FISCAL YEAR 2020.
    * Q3  ORDER INTAKE INTHE SAFETY DIVISION ROSE SHARPLY DUE TO
A
MAJOR ORDER FOR RESPIRATORY PROTECTION MASKS FROM THE UNITED
KINGDOM
    * Q3  ORDER INTAKE IN THE MEDICAL DIVISION MERELY REACHED
THE
PRIOR-YEAR LEVEL
    * EARNINGS BEFORE INTEREST AND TAXES (EBIT) AMOUNTED TO EUR
126.7MILLION IN THE THIRD QUARTER (Q3 2019: EUR 9.3 MILLION)
WITH AN EBIT MARGIN OF 14.7 PERCENT (Q3 2019: 1.4 PERCENT)

Further company coverage:  DRWG_p.DE 

 (Reporting by Berlin Speed Desk)
 ((berlin.newsroom@thomsonreuters.com;))