Dräger achieved a strong first quarter 2010
(Thomson Reuters ONE) -
Drägerwerk AG & Co. KGaA / Dräger achieved a strong first quarter 2010 processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Drägerwerk AG & Co. KGaA's achieved excellent figures for orders on hand, net
sales and earnings in the first quarter of 2010 compared with the first quarter
in 2009. With EUR 488.2 million (net of currency effects), order intake was 7.4
percent up year-on-year, one of the main reasons being a spurt of economic
growth in the Americas (+34.6 percent net of currency effects). Orders on hand
amounted to EUR 472.9 million (net of currency effects) and were 9.0 percent up
on the prior year, and net sales increased by 8.1 percent (net of currency
effects) to EUR 465.9 million. Group EBIT rose to EUR 36.8 million (1st quarter
2009: EUR 6.5 million), mainly as a result of savings from the turnaround
program of EUR 11.9 million (before EUR 0.4 million implementation costs),
currency effects and an improved product mix. The EBIT margin amounted to 7.9
percent (1st quarter 2009: 1.5 percent).
In the medical division, order intake in the first quarter of 2010 was up by
8.9 percent (net of currency effects) to EUR 323.6 million compared to the same
period in the prior year. With EUR 326.1 million (net of currency effects),
orders on hand were 28.8 percent up year-on-year as of March 31, 2010. The
division particularly benefited from the positive developments in the Americas:
Order intake in this region increased by 49.0 percent to EUR 79.6 million and
orders on hand by 67.8 percent (net of currency effects) to EUR 84.3 million.
The division's net sales rose by 13.2 percent (net of currency effects) to EUR
306.3 million, one of the contributing factors being the steep rise in order
intake at the end of 2009. EBIT amounted to an excellent EUR 40.3 million (1st
quarter 2009: EUR 2.7 million) and with 13.2 percent, the EBIT margin was
significantly up on the prior year (1st quarter 2009: EUR 1.0 percent), mainly
as a result of savings from the turnaround program of EUR 8.2 million
attributable to the medical division, an improved product mix and currency
effects.
Order intake in the safety division in the first quarter of 2010 increased by
4.8 percent (net of currency effects) to EUR 172.3 million, while orders on hand
decreased by 19.0 percent (net of currency effects) to EUR 148.1 million, some
of the reasons being the cancellation of a deep sea diving system in 2009, which
was included in orders on hand in the prior year's first quarter, and the
completion of large orders after the first quarter of 2009. Net sales in the
first quarter of 2010 remained at the prior year's level, rising by 0.1 percent
(net of currency effects) to EUR 167.0 million. The safety division's EBIT went
up by 21.0 percent to EUR 12.7 million (1st quarter 2009: EUR 10.5 million) as a
result of the product mix shifting to more profitable products and positive
currency effects. The EBIT margin amounted to 7.6 percent (1st quarter
2009: 6.4 percent).
Due to the extraordinarily positive earnings trend in the first quarter of
2010, Dräger expects to achieve an EBIT margin in the upper region of the
originally anticipated 5 to 6 percent before effects of the transaction with
Siemens, and net sales growth in the lower single-digit percentage range. This
estimate is based on the assumption that the markets relevant to Dräger are
going to continue growing and also that the turnaround program will continued to
be implemented successfully.
Dräger is publishing the complete Dräger Group quarterly report as of March
31, 2010 on May 5, 2010.
Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55
23558 Lübeck, Germany
www.draeger.com
Investor Relations:
Vanina Herbst
Tel +49 451 882-2685
vanina.herbst(at)draeger.com
Corporate Communications:
Burkard Dillig
Tel +49 451 882-2185
burkard.dillig(at)draeger.com
Disclaimer
This ad-hoc release contains forward-looking statements regarding the future
development of the 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 it to date and have been prepared to the
best of its knowledge and belief. No guarantee or liability for the occurrence
of the future developments and results specified can be assumed in respect of
such forward-looking statements. Rather, the future developments and results are
dependent on a number of factors. They entail risks and uncertainties beyond the
Company's control and are based on assumptions which could prove to be
incorrect. Notwithstanding any legal requirements to adjust forecasts, we assume
no obligation to update the forward-looking statements contained in this report.
You will find all other financial dates on our website at www.draeger.com
[HUG#1407152]
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Drägerwerk AG & Co. KGaA
Moislinger Allee 53-55 Lübeck Germany
Press release (PDF): http://hugin.info/135701/R/1407152/360426.pdf
Unternehmensinformation / Kurzprofil:
Datum: 22.04.2010 - 17:48 Uhr
Sprache: Deutsch
News-ID 19534
Anzahl Zeichen: 0
contact information:
Town:
Lübeck
Kategorie:
Business News
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