FX.co ★ Draegerwerk Q2 Net Sales Up 1.7%

German medical and safety technology provider Draegerwerk AG & Co. KGaA (DRWKF.PK) announced a 1.7% year-over-year increase in its second-quarter net sales, reaching approximately 785 million euros compared to last year's 771.3 million euros. On a currency-adjusted basis, quarterly net sales growth was 2.0%.

During the second quarter, order intake rose by 0.3% (when adjusted for currency effects), totaling around 794 million euros from the previous year.

The company reaffirmed its forecast for the current fiscal year, projecting net sales growth between 1.0% and 5.0% (net of currency effects) and an EBIT margin ranging from 2.5% to 5.5%. Given the ongoing moderate demand in the medical division, Draegerwerk now anticipates net sales growth in the lower half of this forecast range. Additionally, the company expects the EBIT margin to likely be in the upper half of the forecast range, attributed to positive one-off effects observed in current earnings.

The comprehensive results for the first six months of the fiscal year are set to be released on July 25, 2024.