Drägerwerk AG & Co. KGaA Announces Significant Growth in Fiscal Year 2023

Drägerwerk AG & Co. KGaA, a leading medical and safety technology company, reported a notable increase in net sales and profits for the fiscal year 2023. Net sales grew by approximately 13 percent, adjusted for currency effects, compared to the previous year, resulting in a total of EUR 3,373.5 million. This growth was contributed to by both its medical and safety divisions across all regions.

The company also significantly improved its earnings before interest and taxes (EBIT), which amounted to around EUR 166 million, a substantial rise from the previous year's negative results. This improvement in profitability was attributed to strong net sales growth and effective cost management strategies.

Following this positive performance, Drägerwerk has decided to increase its dividend for 2023 to EUR 1.74 per common share and EUR 1.80 per preferred share, a significant rise from the dividends distributed for the fiscal year 2022.

Regarding the company's future outlook for 2024, Drägerwerk anticipates a net sales increase between 1.0 and 5.0 percent, adjusted for currency effects, and an EBIT margin ranging from 2.5 to 5.5 percent. Despite the absence of certain favorable conditions experienced in 2023, the company remains confident in its growth potential and profitability improvement plans.