Draegerwerk slips in pre-market on 'horrible' results, outlook cut

Draegerwerk AG & Co KGaA

14/04/2022 07:40

** Shares of German medical equipment maker Draegerwerk
 DRWG.DE  are seen down 7.7% in early Frankfurt trader after its
Q1 EBIT swung to loss and it warned FY results would come at the
lower end of guidance  urn:newsml:reuters.com:*:nASM0007PK
    ** The company reports Q1 net sales of 649.5 million euros
($708.93 million) vs. 792.1 million a year earlier; EBIT swings
to loss of 35 million euros from a profit of 128.9 million euros
    ** It had earlier guided for FY net sales volume of 3.0-3.1
billion euros and EBIT margin of 1-4%, but now sees them at the
lower end due to increasing difficulties in supply of electronic
components  urn:newsml:reuters.com:*:nASN001X7B
    ** "Disastrous company with an ongoing disastrous
management," a local trader says, calling the revenue weak and
EBIT loss "horrible"
    ** The trader adds the "one-hit-wonder year" due to pandemic
panic is now over
    ** The stock is at the bottom of the German small-cap index
 .SDAXI 

($1 = 0.9162 euros)

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