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First Quarter of 2008: Draeger Improves Order Intake and Net Sales
Date:5/9/2008

- Growth in both divisions

- Non-recurring expenses

LUEBECK, Germany, May 9 /PRNewswire/ -- Based on the first quarter, Draegerwerk AG & Co. KGaA confirms its forecast of stable EBIT (before non-recurring expenses) for 2008 with slightly higher net sales than in the prior year. In the first quarter of 2008, both order intake and net sales developed well.

The Draeger Group's order intake rose by 11.0 percent against the prior-year quarter to EUR 493.8 million. Despite the weak performance of the US dollar against the euro, net sales grew by 3.4 percent to EUR 405.7 million. If exchange rates had remained stable, the increase in both order intake and net sales would have been 4 percentage points higher. At EUR 17.5 million, EBIT (before non-recurring expenses) is on a par with the prior-year. As announced for fiscal year 2008, non-recurring expenses were incurred in the first quarter. These totaled EUR 7.1 million and related to personnel measures and IT restructuring, Accordingly, EBIT (after non-recurring expenses) totaled EUR 10.4 million in the first three months of 2008. Net profit came in at EUR 2.5 million, compared with EUR 6.5 million in the same prior-year period.

Medical division

Draeger Medical increased its order intake by 16.1 percent to EUR 320.0 million in the first quarter of 2008. At EUR 264.1 million, net sales were 1.6 percent above the prior year. Net of currency effects, order intake grew by 20.4 percent and net sales by 5.6 percent. Medical generated an above-average increase in EBIT (before non-recurring expenses), taking it to EUR 12.1 million. This represents a 42.4 percent increase year on year. EBIT (after non-recurring expenses) came to EUR 11.7 million.

Safety division

The Safety division's order intake increased by 2.5 percent (net of currency effects: 5.7 percent) to EUR 179.3 million. Net sales rose to EUR 147.6 million, up 6.3 percent (ne
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SOURCE Draeger
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