Net sales just below and earnings just above expectations – Forecast 2025 – Biotech Investments

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

Drägerwerk AG & Co. KGaA: Preliminary figures 2024: Net sales just below and earnings just above expectations –Forecast 2025

Lübeck, January 15, 2025 – Based on preliminary calculations, Dräger’s net sales in fiscal year 2024 increased by 0.6 percent (net of currency effects; nominal: 0.0 percent). Net sales were thus just below the last forecast, according to which Dräger had expected an increase in net sales in the range of 1.0 to 3.0 percent (net of currency effects). At around EUR 3,373 million, net sales nevertheless came close to the high figure of the prior year (2023: EUR 3,373.5 million), in which Dräger had benefited from strong catch-up effects as a result of the noticeable improvement in delivery capability and the surge in demand for ventilators in China. As expected, these two effects were absent in 2024.

The safety division continued its growth in the 2024 fiscal year and recorded an increase in net sales of 5.1 percent (net of currency effects; nominal: 4.7 percent) to around EUR 1,473 million (2023: EUR 1,407.3 million). The medical division saw a decline of 2.6 percent (net of currency effects; nominal: -3.4 percent) to around EUR 1,900 million (2023: EUR 1,966.2 million), which is attributable in particular to the aforementioned base effects in the prior year and the current difficult market conditions in China. The Group’s gross margin rose to around 45.0 percent (2023: 43.3 percent).

Earnings before interest and taxes (EBIT) increased significantly by around 19 percent to around EUR 197 million (2023: EUR 166.4 million). In addition to the operating business performance, several one-time effects with an impact on earnings amounting to around EUR 22 million had a positive effect on EBIT. At 5.8 percent (2023: 4.9 percent), the EBIT margin was just above the last annual forecast (range of 4.0 to 5.5 percent).

At around EUR 3,381 million, Dräger’s order intake was up 3.4 percent (net of currency effects; nominal: 2.7 percent) on the high prior-year figure (2023: EUR 3,290.0 million). Both divisions contributed to this positive development: order intake in safety rose by 6.5 percent (net of currency effects; nominal: 6.1 percent) to around EUR 1,457 million (2023: EUR 1,373.8 million), while order intake in medical increased by 1.2 percent (net of currency effects; nominal: 0.4 percent) to around EUR 1,923 million (2023: EUR 1,916.2 million) following a decline in the prior year.

Dividend proposal
In line with the existing dividend policy, Dräger intends to distribute around 30 percent of the group net profit to its shareholders. The final dividend proposal will be made with the final business figures for 2024.

Forecast for 2025
For the current fiscal year, Dräger expects an increase in net sales of 1.0 to 5.0 percent (net of currency effects) and an EBIT margin of 3.5 to 6.5 percent. The expected EBIT margin is therefore in line with our goal of increasing the EBIT margin by an average of one percentage point each year.

The full 2024 Annual Report will be published on April 3, 2025.

Drägerwerk AG & Co. KGaA
Moislinger Allee 53–55
23558 Lübeck, Germany
www.draeger.com

Investor Relations:
Thomas Fischler
Tel. +49 451 882-2685
thomas.fischler@draeger.com

Corporate Communications:
Melanie Kamann
Tel. +49 451 882-3998
melanie.kamann@draeger.com

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.