First Quarter of 2011: Dräger increases net sales and earnings

06-May-2011 - Germany

Drägerwerk AG & Co. KGaA's order intake, net sales and earnings increased in the first quarter of 2011. Order intake went up by 11.8 percent (net of currency effects) to EUR 553.6 million year-on-year. Net sales rose by 5.7 percent (net of currency effects) to EUR 500.3 million, with particularly positive developments in the Americas and Asia / Pacific regions. The safety division recorded 9.1 percent growth (net of currency effects), net sales in the medical divisions increased by 3.7 percent. "Given the good first quarter, we are confirming our 2011 growth forecast," said Stefan Dräger, CEO of Drägerwerk Verwaltungs AG.

EBIT margin rose to 8.5 percent

Dräger achieved total Group EBIT of EUR 42.6 million in the first quarter of 2011, an increase of 15.9 percent compared to the prior year's period. The EBIT margin rose from 7.9 percent to 8.5 percent. Higher net sales, favorable exchange rates and positive changes to the product mix contributed to the development. As planned, these amounts were partially used as increased expenses for research and development, marketing and sales as well as IT infrastructure. Earnings after income taxes rose by 24 percent to EUR 23.2 million year-on-year.

Equity ratio went up to 33.1 percent

Dräger Group's equity rose by EUR 11.2 million to EUR 647.8 million in the first three months of 2011, with the equity ratio increasing from 32.2 percent on December 31, 2010, to 33.1 percent. On March 31, 2010, prior to the capital increase, the equity ratio had been at 21.8 percent. "We have more strategic scope of action as our equity is increasing. For this reason, we are aiming to generate an equity ratio of at least 35 percent. We want to be ready for the next slump of the global economy," highlighted Stefan Dräger.

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