DGAP-Adhoc: Drägerwerk AG & Co. KGaA: Dräger sees slight

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News Desk 2018

Oct 18, 2016 at 10:45 AM

DGAP-Adhoc: Drägerwerk AG & Co. KGaA: Dräger sees slight decline in net sales in third quarter with EBIT up significantly year on year

Drägerwerk AG & Co. KGaA / Key word(s): 9-month figures 18.10.2016 15:32 Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad-hoc notification in accordance with Sec. 17 of the MAR Drägerwerk AG & Co. KGaA: Dräger with slight decline in net sales in third quarter with EBIT up significantly year on year Based on preliminary figures for the third quarter, Dräger recorded a year- on-year decline in order intake of 1.7 percent (net of currency effects) (nominal: -2.7 percent). Net sales decreased by 1.1 percent (net of currency effects) to EUR 592.9 million (nominal: -1.8 percent). The gross margin stood at approximately 44.0 percent (Q3 2015: 41.8 percent). EBIT for the quarter stood at EUR 22.5 million, up significantly on the prior year (Q3 2015: EUR -22.6 million). However, one-off effects, such as write- downs on receivables and inventories, in addition to provisions, had a negative impact of roughly EUR 20 million on the third-quarter result for 2015. Net of currency effects, this resulted in a year-on-year decline in order intake of 0.3 percent (nominal: -2.4 percent) and a drop in net sales by 2.6 percent (nominal: -4.4 percent) for the first nine months. The gross margin stood at approximately 43.9 percent (9 months 2015: 44.5 percent). Compared to the prior-year period, functional costs decreased by 7.5 percent (net of currency effects) in the first nine months of 2016 (nominal: -8.5 percent). Total EBIT stood at approximately EUR 28.1 million (9 months 2015: EUR 0.2 million). The EBIT margin rose from 0.0 percent in the prior-year period to 1.6 percent after nine months. Business performance remained sluggish overall. In particular, the demand situation in the Middle East and in many European countries did not improve significantly during the third quarter. Business in Germany and the Americas region developed positively. For fiscal year 2016, Dräger continues to expect net sales growth of between 0.0 and 3.0 percent (net of currency effects) and an EBIT margin of between 3.5 and 5.5 percent. Net sales growth will probably be at the lower end of the forecast range due to the restrained development seen to date. Dräger will publish its full results for the first nine months of the fiscal year on November 3, 2016. Drägerwerk AG & Co. KGaA Moislinger Allee 53-55 23558 Lübeck, Deutschland 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 / Financial Calendar at www.draeger.com for information on all important financial dates. 18.10.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Drägerwerk AG & Co. KGaA Moislinger Allee 53-55 23542 Lübeck Germany Phone: +49 (0)451 882-0 Fax: +49 (0)451 882-2080 E-mail: info@draeger.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 Vorzüge, 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 End of Announcement DGAP News-Service ---------------------------------------------------------------------------

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