03 nov: Deducta købt af investeringsselskab
05 nov: Maskulin luksusmad fra Mols kro
04-11-2010 07:30:45

Dräger remains on path to success

Drägerwerk AG & Co. KGaA /

Dräger remains on path to success

Processed and transmitted by Thomson Reuters.

The issuer is solely responsible for the content of this announcement.

  • Significant rise in order intake, net sales and EBIT
  • Equity ratio at 32.4 percent
  • Company expects best fiscal year on record

 

Lübeck - Drägerwerk AG & Co. KGaA continued to develop extremely well in the third quarter of 2010 and again increased its net sales and earnings forecasts for the entire fiscal year on October 13. In the first nine months of 2010, order intake rose by 6.8 percent (net of currency effects) year-on-year to EUR 1,568.4 million. Orders on hand remained almost the same as in prior year with EUR 478.6 million, dropping by just 0.4 percent (net of currency effects). Net sales went up by 10.2 percent (net of currency effects) to EUR 1,542.0 million.

Dräger Group's EBIT rose significantly to a total of EUR 136.7 million, more than four times as high than in the same period in the prior year (9 months 2009: EUR 28.4 million). With 8.9 percent, the EBIT margin also was considerably up on the prior year's figure of 2.1 percent.

 

Reasons for profitability increasing are the continuous positive development in the Americas and Asia/Pacific regions, favorable currency effects and the continuously high percentage of equipment business, which has strong margins, in net sales in the medical division. The turnaround program also had a considerable positive effect. In the first nine months of 2010, it generated additional EUR 36.6 million in savings and efficiency gains (before implementation costs of EUR 0.5 million) compared to the prior year's period (9 months 2009: EUR 35.3 million compared to 2008). Main contributors were savings in Purchasing as well as in Marketing and Sales costs.

 

Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG, explains: We are already certain that 2010 will be the best fiscal year Dräger has ever recorded. We have been working hard to improve our competitive edge compared to 2009, and we have proven that we are quick to catch up."

 

Equity ratio exceeds 30 percent

The company's equity ratio was 32.4 percent at the end of September 2010 (December 31, 2009: 20.9 percent). This increase is mainly due to the capital increase carried out in June 2010 and the positive result of the first nine months.

 

Outlook

Dräger expects net sales growth for fiscal year 2010 in the region of 10 percent (net sales 2009: EUR 1,911 million). Net of currency effects, growth came in around the medium one-digit percentage range. Due to the positive development in the first nine months of 2010, Dräger anticipates an EBIT margin between 8 percent and 9 percent for all of 2010. This forecast includes the impact from the possible cash settled option to the amount of EUR 11.8 million agreed with Siemens. This component will no longer have a negative impact on earnings in the future.

 

In 2011, Dräger will invest even larger sums into research and development, implement projects even more quickly and improve its marketing and sales organization in particular. In addition, the company anticipates that the one-off effects from fiscal year 2010 will not be repeated, including a large number of orders on hand carried over from the previous year, high order intake from large projects, the sale of a deep sea diving system that was fully written off in 2009, the sale of software licenses and the extremely favorable product mix. External factors such as exchange rates are not expected to have the same positive impact in 2011 than in the current year.

 

In view of these facts, Dräger forecasts net sales to increase slightly in 2011 but does not expect for the EBIT margin to exceed that of fiscal year 2010. "In the medium term, we plan to grow faster than the market and achieve a minimum EBIT margin of 10 percent in the long term," comments Stefan Dräger.

 

Key figures for the first nine months of 2010 (in EUR millions)

  Third quarter 2010 Third quarter 2009 Nine months 2010 Nine months 2009 Change

nine months

Net of currency effects
Order intake 519.5 481.7 1,568.4 1,414.5 +10.9 % +6.8 %

Medical division

357.5

323.0

1,056.3

928.4

+13.8 %

+9.9 %

Safety division

167.7

166.1

532.8

506.0

+5.3 %

+0.9 %

             
Net sales 525.3 454.4 1,542.0 1,348.3 +14.4 % +10.2 %

Medical division

351.7

293.5

1,028.9

871.1

+18.1 %

+14.2 %

Safety division

178.6

167.7

531.6

496.4

+7.1 %

+2.7 %

             
EBIT[1] 34.1 13.3 136.7 28.4 +381.3 %  

Medical division

35.2

9.1

128.2

20.2

+534.7 %

 

Safety division

17.8

10.1

47.1

28.1

+67.6 %

 

             
EBIT margin 6.5 % 2.9 % 8.9 % 2.1 %    
Earnings after income taxes 14.3 3.5 70.2 4.8    
EPS[2] preferred share 0,75 0,14 4,27 0,01    
EPS[2] common share 0,73 0,12 4,22 -0,04    

[1] EBIT = Earnings before interest and taxes

[2] EPS = Earnings per share (in €)

 

Disclaimer

This press release contains forward-looking statements regarding the future development of the Dräger Group. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information available to it to date and have been prepared to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors. They entail risks and uncertainties beyond the Company's control and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, we assume no obligation to update the forward-looking statements contained in this report. You will find all other financial dates on our website at www.draeger.com under Investor Center/Financial Calendar.

 

 

Contact

           

Corporate Communications:

Burkard Dillig

Tel. +49 451 882-2185

burkard.dillig@draeger.com

 

Investor Relations:

Vanina Herbst

Tel. +49 451 882-2685

vanina.herbst@draeger.com

 

Drägerwerk AG & Co. KGaA     

Moislinger Allee 53-55

23558 Lübeck, Germany

www.draeger.com

HUG#1458841

Press release (PDF)

--- End of Message ---

Drägerwerk AG & Co. KGaA

Moislinger Allee 53-55 Lübeck Germany

Listed: Freiverkehr in Börse Stuttgart,

Prime Standard in Frankfurter Wertpapierbörse,

Regulierter Markt in Frankfurter Wertpapierbörse,

Regulierter Markt in Bayerische Börse München,

Regulierter Markt in Börse Berlin,

Regulierter Markt in Hanseatische Wertpapierbörse zu Hamburg,

Regulierter Markt in Börse Düsseldorf,

Regulierter Markt in Niedersächsische Börse zu Hannover;

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the

information contained therein.

Source: Drägerwerk AG & Co. KGaA via Thomson Reuters ONE

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
17 nov
ALMB
Når man dagligt læser indlæg fra Alpehuen, Mackkeith, Malurt, EMEA (MENA), Powertrade som via en flo..
33
17 nov
PNDORA
Om nogen, har jeg ikke meget tilovers for GW, men jeg har tilladt mig at anmelde dit indlæg. Nu må i..
29
20 nov
I:SP500
God aften   Gå lige ind under Conference Board i USA og læs, at de ledende indikatorer steg med hele..
26
21 nov
PNDORA
Hej Roland.   Dem du prøver at råde om aktiehandel, fortjener at vide hvilken tåbe, der prøver at rå..
25
16 nov
NOVO-B
Og Goodwrench, Baronen og marc55
25
20 nov
VWS
Roland, nu må du simpelthen stoppe. Det her er simpelthen for ynkeligt, hvordan kan du være så selvi..
23
17 nov
OMXC20
  Her kommer en kort gennemgang og forklaring på, hvorfor aktietilbagekøb både kan være rigtig godt ..
23
22 nov
 
Kiggede lige forbi, for at se om jeg er gået glip af noget den seneste måneds tid.   Og kan da konst..
21
18 nov
I:NDX
Der er efterhånden alt for få på EI, der bruger hovedparten af deres tid på at tjene penge på aktier..
18
19 nov
PNDORA
Hvad skal vi med millionærklubben når vi har roland333 
17

Aktier/middag: Vestas-nedtur for femte dag i træk tynger C20

23-11-2017 11:33:16
Der er en overvægt af røde aktier på det danske aktiemarked torsdag, hvor særligt Vestas og FLSmidth er ramt af udsalg, mens Royal Unibrew bliver belønnet for sit regnskab for tredje kvartal.Omkring 11.30-tiden falder det toneangivende C20 Cap-indeks 0,5 pct. til 1115,75. Aktiviteten er påvirket af, at de amerikanske børser holder lukket som følge af thanksgiving.For femte dag i træk dykker Vestas..

Aktier/tendens: Stille åbning efterlader rampelyset til Unibrew

23-11-2017 07:55:35
Roen er så småt begyndt at sænke sig over det danske aktiemarked efter den seneste tids store regnskaber, og det efterlader plads i rampelyset til selskaber som Royal Unibrew, der har været på banen med sit seneste kvartalsregnskab.Overordnet ser det danske aktiemarked torsdag morgen ud til at åbne tæt på onsdagens lukkeniveau. Hen over natten er der ikke sket de store bevægelser på børsen i USA, ..

Pandora/ABG: Mindre sats på kursfald hos hedgefond luner aktiekursen

22-11-2017 15:47:15
Pandora har haft et hårdt 2017 på aktiemarkedet, hvilket er blevet forstærket af, at en håndfuld store investeringsselskaber har shortet aktien og dermed satset på kursfald.Derfor er det positivt for aktiekursen, at den amerikanske hedgefond Maverick Capital har mindsket sin shortposition til 0,97 pct. af aktierne fra tidligere 1,31 pct.- Det er den første større shortreduktion, vi har set gennem ..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Vestas får første russiske ordre nogensinde - NY
2
Onsdagens aktier: Kapitalfonds retræte trak Pandora til tops
3
Vestas i laveste niveau i over to år
4
Goldman Sachs: Trumps skattepakke giver 10 pct. til amerikanske aktier
5
Vestas/Sydbank: Vindmølleindustrien risikerer endnu lavere priser

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
23. november 2017 14:01:28
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20171108.1 - EUROWEB5 - 2017-11-23 14:01:28 - 2017-11-23 14:01:28 - 1 - Website: OKAY