Draegerwerk plummets as sees pandemic-driven boom fading next year

Draegerwerk AG & Co KGaA

24/11/2021 07:13

** Shares in Draegerwerk  DRWG_p.DE  drop 13% in early trade
after the German medical equipment maker said it expected net
sales and earnings to decline in 2022, citing noticeably
weakened demand for pandemic-related products  urn:newsml:reuters.com:*:nASN001X7B
    ** The company said it sees 2022 net sales volume of around
3 to 3.1 billion euros, "significantly below two strong previous
years"
    ** It expects EBIT margin in next year to be between 1% and
4%, from expectations for a 2021 EBIT margin of between 8-11%
    ** Draegerwerk also warned of one-time expenses of around 30
million euros impacting Q4 earnings
    ** The stock is seen at the bottom of German small-cap index
 .SDAXI 

 (Reporting by Linda Pasquini)
 ((Linda.pasquini@thomsonreuters.com))