Drägerwerk AG & Co. KGaA: preliminary result for the first quarter

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Drägerwerk AG & Co. KGaA / Key word(s): Quarter Results
Drägerwerk AG & Co. KGaA: preliminary result for the first quarter

16-Apr-2018 / 18:46 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Ad-hoc notification in accordance with Sec. 17 of the MAR

Drägerwerk AG & Co. KGaA: preliminary result for the first quarter

Dräger announces preliminary figures for the first quarter 2018.

Order intake in the first quarter rose by roughly 2.6 percent net of currency effects (nominal: -2.8 percent) compared to the first quarter last year. Net sales declined by roughly 2.5 percent net of currency effects (nominal: -7.4 percent) to approximately EUR 496 million. The gross profit margin stood at 41.4 percent (Q1 2017: 44.9 percent). Functional expenses increased by 6.6 percent net of currency effects (nominal: 2.8 percent). Mainly due to the low net sales volume, weak gross profit margin and adverse currency effects, EBIT for the first quarter amounted to roughly EUR -40 million and was significantly below the EBIT of the prior year's quarter (Q1 2017: EUR 2.3 million).

Compared to the prior year's quarter, the regions Africa, Asia, and Australia (AAA) and the region Americas increased order intake net of currency effects. Demand increase in AAA was particularly strong. Net sales, by contrast, declined in all three regions. Moreover, the strengthening Euro caused pronounced negative currency effects, so that the net sales decline was significant in real terms.

For the full year, Draeger continues to expect net sales growth (net of currency effects) of between 2.0 and 5.0 percent and an EBIT margin of between 4.0 and 6.0 percent. Due to the restrained business development in the first quarter and currency effects, the EBIT margin is likely to come out in the lower range of the guidance.

Dräger will publish final results for the first three months of 2018 on April 26, 2018.

Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
23558 Lübeck, Deutschland

Investor Relations:
Thomas Fischler
Tel. +49 451 882-2685

Corporate Communications:
Melanie Kamann
Tel. +49 451 882-3998

This ad hoc report contains statements on the future development of 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 date. They were compiled to the best of the company's knowledge. Dräger does not provide any warranty nor assume any responsibility for the future developments and results described above. These are dependent on a number of factors. They entail various risks and contingencies outside of the company's influence and are based on assumptions which could prove to be incorrect. Dräger does not assume any responsibility for updating the forward-looking statements contained in this report. This does not infringe any legal stipulations on the adjustment of forecasts. Please go to Investor Relations / Financial Calendar at www.draeger.com for information on all important financial dates.

16-Apr-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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