Drägerwerk AG & Co. KGaA / Quarter Results
22.04.2010 17:31
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.
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Ad-hoc release according to section 15 Securities Trading Act (WpHG)
Dräger achieved a strong first quarter 2010
Drägerwerk AG & Co. KGaA's achieved excellent figures for orders on hand,
net sales and earnings in the first quarter of 2010 compared with the first
quarter in 2009. With EUR 488.2 million (net of currency effects), order
intake was 7.4 percent up year-on-year, one of the main reasons being a
spurt of economic growth in the Americas (+34.6 percent net of currency
effects). Orders on hand amounted to EUR 472.9 million (net of currency
effects) and were 9.0 percent up on the prior year, and net sales increased
by 8.1 percent (net of currency effects) to EUR 465.9 million. Group EBIT
rose to EUR 36.8 million (1st quarter 2009: EUR 6.5 million), mainly as a
result of savings from the turnaround program of EUR 11.9 million (before
EUR 0.4 million implementation costs), currency effects and an improved
product mix. The EBIT margin amounted to 7.9 percent (1st quarter 2009: 1.5
percent).
In the medical division, order intake in the first quarter of 2010 was up
by 8.9 percent (net of currency effects) to EUR 323.6 million compared to
the same period in the prior year. With EUR 326.1 million (net of currency
effects), orders on hand were 28.8 percent up year-on-year as of March 31,
2010. The division particularly benefited from the positive developments in
the Americas: Order intake in this region increased by 49.0 percent to EUR
79.6 million and orders on hand by 67.8 percent (net of currency effects)
to EUR 84.3 million. The division's net sales rose by 13.2 percent (net of
currency effects) to EUR 306.3 million, one of the contributing factors
being the steep rise in order intake at the end of 2009. EBIT amounted to
an excellent EUR 40.3 million (1st quarter 2009: EUR 2.7 million) and with
13.2 percent, the EBIT margin was significantly up on the prior year (1st
quarter 2009: EUR 1.0 percent), mainly as a result of savings from the
turnaround program of EUR 8.2 million attributable to the medical division,
an improved product mix and currency effects.
Order intake in the safety division in the first quarter of 2010 increased
by 4.8 percent (net of currency effects) to EUR 172.3 million, while orders
on hand decreased by 19.0 percent (net of currency effects) to EUR 148.1
million, some of the reasons being the cancellation of a deep sea diving
system in 2009, which was included in orders on hand in the prior year's
first quarter, and the completion of large orders after the first quarter
of 2009. Net sales in the first quarter of 2010 remained at the prior
year's level, rising by 0.1 percent (net of currency effects) to EUR 167.0
million. The safety division's EBIT went up by 21.0 percent to EUR 12.7
million (1st quarter 2009: EUR 10.5 million) as a result of the product mix
shifting to more profitable products and positive currency effects. The
EBIT margin amounted to 7.6 percent (1st quarter 2009: 6.4 percent).
Due to the extraordinarily positive earnings trend in the first quarter of
2010, Dräger expects to achieve an EBIT margin in the upper region of the
originally anticipated 5 to 6 percent before effects of the transaction
with Siemens, and net sales growth in the lower single-digit percentage
range. This estimate is based on the assumption that the markets relevant
to Dräger are going to continue growing and also that the turnaround
program will continued to be implemented successfully.
Dräger is publishing the complete Dräger Group quarterly report as of March
31, 2010 on May 5, 2010.
Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
23558 Lübeck, Germany
www.draeger.com
Investor Relations:
Vanina Herbst
Tel +49 451 882-2685
vanina.herbst@draeger.com
Corporate Communications:
Burkard Dillig
Tel +49 451 882-2185
burkard.dillig@draeger.com
Disclaimer
This ad-hoc 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.
22.04.2010 17:31 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
23542 Lübeck
Deutschland
Phone: +49 (0)451 882-0
Fax: +49 (0)451 882-2080
E-mail: info@draeger.com
Internet: www.draeger.com
ISIN: DE0005550636, DE 000 555 065 1, DE 000 555 067 7, DE 000 555 071 9
WKN: 555063, 555065 Genussschein A, 555067 Genussschein K, 555071 Genussschein D
Indices: TecDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Düsseldorf, Hannover, München, Hamburg; Freiverkehr in
Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Drägerwerk AG & Co. KGaA: Dräger achieved a strong first quarter 2010
| Source: EQS Group AG