Drägerwerk AG & Co. KGaA / DE0005550602

Drägerwerk AG & Co. KGaA: Preliminary figures 2023: Net sales and earnings significantly above prior year – Dividend increase – Forecast 2024

EQS-Ad-hoc: Drägerwerk AG & Co. KGaA / Key word(s): Preliminary Results/Forecast
Drägerwerk AG & Co. KGaA: Preliminary figures 2023: Net sales and earnings significantly above prior year – Dividend increase – Forecast 2024

15-Jan-2024 / 18:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ad-hoc notification in accordance with Sec. 17 of the MAR Drägerwerk AG & Co. KGaA: Preliminary figures 2023: Net sales and earnings significantly above prior year – Dividend increase – Forecast 2024 Lübeck, January 15, 2024 – Dräger's net sales and earnings increased significantly in fiscal year 2023 based on preliminary calculations. This was due in particular to the noticeable improvement in delivery capability as a result of diminishing global supply chain problems, which enabled Dräger to generate strong net sales growth from the high order backlog of the prior year and from the continued high demand for Dräger products and services. At the beginning of the year, Dräger also benefited from the surge in demand for ventilators in China. On the earnings side, the successful cost management had a positive impact in addition to the good net sales development. Net sales in fiscal year 2023 increased by 13.2 percent (net of currency effects; nominal: 10.8 percent) to around EUR 3,374 million (2022: EUR 3,045.2 million). The medical division recorded growth of 10.4 percent (net of currency effects; nominal: 8.0 percent) to around EUR 1,967 million (2022: EUR 1,821.5 million) and the safety division an increase of 17.3 percent (net of currency effects; nominal: 15.0 percent) to around EUR 1,407 million (2022: EUR 1,223.7 million). The Group's gross margin rose to around 43.3 percent (2022: 40.7 percent), in particular due to higher production and service utilization and more effective price enforcement. Earnings before interest and taxes (EBIT) improved to around EUR 167 million (2022: EUR -88.6 million). The EBIT margin amounted to around 4.9 percent (2022: -2.9 percent). The preliminary calculated order intake increased by 1.8 percent (net of currency effects; nominal: -0.2 percent) to around EUR 3,280 million in fiscal year 2023 and was therefore currency-adjusted above the high level of the prior year (2022: EUR 3,284.7 million). In the medical division, order intake decreased by 1.8 percent (net of currency effects; nominal: -3.7 percent) to around EUR 1,907 million (2022: EUR 1,979.3 million). This was offset by an increase in the safety division of 7.3 percent (net of currency effects; nominal: 5.2 percent) to around EUR 1,373 million (2022: EUR 1,305.4 million). Overall, Dräger returned to growth and profitability in fiscal year 2023 as planned. At the same time, the preliminary figures with a net sales increase of 13.2 percent (net of currency effects) and an EBIT margin of around 4.9 percent are above Dräger's own original expectations, according to which Dräger had expected a net sales increase of 7.0 to 11.0 percent (net of currency effects) and an EBIT margin of 0.0 to 3.0 percent. Dividend proposal
Due to the higher profitability and the strong equity ratio of well over 40 percent (46.0 percent at the end of Q3 2023), Dräger intends to significantly increase the dividend and pay out around 30 percent of the Group’s net profit (dividend for fiscal year 2022: EUR 0.19 per preferred share and EUR 0.13 per common share). The final dividend proposal will be made with the final business figures for 2023. Forecast for 2024
In 2023, growth and profitability were supported by catch-up effects as a result of the improvement in the previously limited delivery capability; in addition, the surge in demand for ventilators in China at the beginning of the year had a positive impact on net sales and earnings. These two effects will be absent in the current fiscal year. Against this backdrop, Dräger expects an increase in net sales of 1.0 to 5.0 percent (net of currency effects). In addition, Dräger anticipates an EBIT margin of 2.5 to 5.5 percent. The full 2023 Annual Report will be published on March 7, 2024.   Drägerwerk AG & Co. KGaA
Moislinger Allee 53–55
23558 Lübeck, Germany
www.draeger.com   Investor Relations:
Thomas Fischler
Tel. [phone]
[e-mail]   Corporate Communications:
Melanie Kamann
Tel. [phone]
[e-mail]   Disclaimer
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 / Definitions of financial indicators at www.draeger.com for information on alternative performance measures used.

End of Inside Information

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15-Jan-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:	English
Company:	Drägerwerk AG & Co. KGaA
	Moislinger Allee 53-55
	23558 Lübeck
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.draeger.com
ISIN:	DE0005550602, DE 000 555 063 6, DE 000 555 071 9
WKN:	555060, 555063 Vorzüge, 555071 Genussschein D
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Stuttgart, Tradegate Exchange
EQS News ID:	1815439

End of Announcement	EQS News Service

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1815439  15-Jan-2024 CET/CEST