Dr?gerwerk AG & Co. KGaA: preliminary result for the third quarter. Business development considerably above prior year. Middle to upper end of the guidance for 2020 expected.
Ad-hoc notification in accordance with Sec. 17 of the MAR
Dr?gerwerk AG & Co. KGaA: preliminary result for the third quarter. Business development considerably above prior year. Middle to upper end of the guidance for 2020 expected. On the basis of preliminary figures, Dr?ger recorded an increase in order entry of 13.0 percent (net of currency effects; nominal: 7.5 percent) in the third quarter compared to the same quarter of the previous year. Net sales increased by 35.7 percent (net of currency effects; nominal: 30.1 percent) to around EUR 862.5 million (Q3 2019: EUR 662.9 million). EBIT for the third quarter stood at around EUR 127 million, considerably above the level of the prior year (Q3 2019: EUR 9.3 million). The higher earnings were caused by considerably higher net sales volume and a higher gross profit margin of around 48.2 percent (Q3 2019: 42.9 percent). In the first nine months of 2020, order intake increased by 54.1 percent year-on-year (net of currency effects; nominal: 50.7 percent). Group net sales increased by 23.6 percent (net of currency effects; nominal: 20.7 percent) to around EUR 2,291 million (9 months 2019: EUR 1,898.8 million). The gross profit margin was around 47.5 percent (9 months 2019: 42.6 percent). Total EBIT stood at approximately EUR 228 million (9 months 2019: EUR -2.9 million).
Dr?ger expects net sales growth for fiscal year 2020 to be between 14 percent and 22 percent (net of currency effects) and the EBIT margin to be between 7.0 percent and 11.0 percent. At least for the current financial year, Dr?ger is still assuming strong demand in the wake of the COVID-19 pandemic. Therefore, Dr?ger is now assuming that it will reach the middle to upper end of the guidance for 2020.
At this point in time, Dr?ger expects that net sales volume and thus also earnings in the following year will be below the current level. In addition to the further development of the demand for products in connection with the COVID-19 pandemic, this also depends on the general economic development, which has an impact on many industries and thus on important parts of Dr?gers business. Dr?ger will publish a guidance for 2021 once the business figures for fiscal year 2020 are available.
Dr?ger will publish its full results for the first nine months of the fiscal year on October 29, 2020.
Dr?gerwerk AG & Co. KGaA Moislinger Allee 53-55 23558 L?beck, Deutschland www.draeger.com
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Disclaimer This ad hoc report contains statements on the future development of Dr?ger 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. Dr?ger 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. Dr?ger 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.
14-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Dr?gerwerk AG & Co. KGaA Moislinger Allee 53-55 23542 L?beck
Germany Phone: +49 (0)451 882-0 Fax: +49 (0)451 882-2080 E-mail: email@example.com Internet: www.draeger.com ISIN: DE0005550602, DE 000 555 063 6, DE 000 555 065 1, DE 000 555 067 7, DE 000 555 071 9 WKN: 555060, 555063 Vorz?ge, 555065 Genussschein A, 555067 Genussschein K, 555071 Genussschein D Indices: TecDAX Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich; Regulated Unofficial Market in Stuttgart, Tradegate Exchange EQS News ID: 1140975 ? End of Announcement DGAP News Service