Draegerwerk shares rise after higher Q3 res, guidance hike

Draegerwerk AG & Co KGaA

17/10/2023 06:57

** Shares of Draegerwerk  DRWG.DE  jump 6% in pre-market
trade after the German medical equipment maker reported an
increase in preliminary Q3 net sales and earnings, and raised
its outlook
    ** The company posts Q3 net sales of 789 million euros, up
by 12.6% y-o-y, with EBIT margin of 3.7% compared to -5.0% year
ago
    ** It now expects currency-adjusted increase in net sales of
7-11% in 2023 and an EBIT margin of 2-4% percent instead of the
previous 0.0-3.0%
    ** The stock tops the German small-caps index  .SDAXI 

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