Drägerwerk AG & Co. KGaA, a company specializing in the production of medical and safety technology products, announced a decrease in earnings after income taxes for the third quarter, with figures dropping to 15.3 million euros from 18.6 million euros in the previous year.
Earnings before interest and taxes (EBIT) for the quarter were reported at 24.4 million euros, down from the prior year's 29.2 million euros, resulting in an EBIT margin of 3.1 percent compared to last year's 3.7 percent. The gross margin also saw a slight decline, settling at 43.5 percent from the 44.0 percent recorded last year.
Net sales for Drägerwerk experienced a 1.8 percent decline, reaching 774.6 million euros, compared to 788.5 million euros the year before. When adjusted for constant currency, sales decreased slightly by 0.7 percent.
In contrast, order intake for the third quarter saw a modest increase of 1.2 percent, reaching 816.2 million euros, up from 806.7 million euros the previous year. When adjusted for currency fluctuations, this increase amounts to 2.6 percent.
Moreover, the company maintained its forecast for fiscal year 2024, anticipating net sales growth of between 1 to 5 percent, adjusted for currency effects, as well as an EBIT margin ranging from 2.5 to 5.5 percent. Drägerwerk expects to achieve net sales growth at the lower end and an EBIT margin at the higher end of the projected range.
