Draegerwerk drops after reports lower Q2 results

Draegerwerk AG & Co KGaA

15/07/2022 07:34

** Shares of Draegerwerk  DRWG.DE  slide 2.8% in early
Frankfurt trade after the German medical equipment maker
reported lower sales and earnings in the second quarter
 urn:newsml:reuters.com:*:nASM000JDL
    ** Draegerwerk said it has been impacted by a
lockdown-related sales decline in China -- Q2 prelim net sales
fell 24.7% to around 653 mln euros, while EBIT loss reached 77
mln euros versus profit of 80.3 mln euros year ago
    ** A local trader, who labels the company's results as
"horrible quarter", says it would be difficult for Draegerwerk
to reach profitability goal in FY 2022
    ** "Stay away from this company as long as CEO has not
changed," the trader adds
    ** The stock sits at the bottom of the German small-caps
index  .SDAXI 

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))