Dräger Reports Modest First Quarter Results for 2024

Drägerwerk AG & Co. KGaA announced a solid start to 2024, with a slight increase in order intake but a decline in earnings compared to the same period last year. In its first-quarter financial statement, Dräger reported an order intake of EUR 811 million, marginally higher than the previous year, and a net sales reduction of 2.6 percent, totaling EUR 735.8 million.

Earnings before interest and taxes (EBIT) for the first quarter stood at EUR 15.1 million, down from EUR 29.1 million in 2023, with an EBIT margin of 2.0 percent. Despite these figures, the company confirms its annual forecast, expecting a net sales growth of 1.0 to 5.0 percent and an EBIT margin ranging from 2.5 to 5.5 percent.

The company experienced varied performance across divisions. The safety division saw a 6.1 percent increase in orders, driven by demand for occupational health and safety equipment. However, the medical division's orders decreased by 1.9 percent, largely due to reduced demand for ventilators in China.

Stefan Dräger, Chairman of the Executive Board, remains optimistic about meeting the year-end targets, attributing the quarter's performance to cyclical business variations and external market forces experienced in the previous year.