Shares in Draegerwerk slide after disappointing Q2 results

Draegerwerk AG & Co KGaA

15/07/2021 06:36

BERLIN, July 15 (Reuters) - Shares in Draegerwerk
 DRWG_p.DE  slid 2.5% in pre-market trade at brokerage Lang &
Schwarz on Thursday after the German medical equipment maker
reported a 22% slide in second-quarter operating profit.
    Earnings before interest and tax (EBIT) fell to 80 million
euros ($95 million) in the three months through June compared
with 102 million in the year-earlier period, Draegerwerk said
late on Wednesday.
    Sales were broadly flat at 738 million euros, bolstered by
demand for medical equipment related to the coronavirus
pandemic, but the gross margin slipped to 46% from 49.2% due to
higher expenses.
    "There may be more downside as harsh retreat in EBIT in Q2
21 is disappointing, given ongoing topline development," a local
trader said.


($1 = 0.8445 euros)

 (Reporting by Maria Sheahan, editing by Kirsti Knolle)
 ((maria.sheahan@thomsonreuters.com; +49 30 22013 3680;))