Navigation Links
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 (net of currency effects: 9.6 percent) on the prior year (EUR 138.9 million). Safety's EBIT before non-recurring expenses totaled EUR 9.5 million (22.8 percent below the prior year) and EBIT after non-recurring expenses came to EUR 4.3 million. Earnings were marred by the strong euro and shifts in the product mix.

Forecast

For the current fiscal year, the Company anticipates that EBIT (before non-recurring expenses) will remain stable despite the slowdown in the global economy, with net sales increasing slightly. As announced, we expect to incur non-recurring expenses of between EUR 20 million and EUR 25 million.

Disclaimer

This press release contains forward-looking statements regarding the future development of the Draeger 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 it to date, and have been made to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors. They entail various risks and uncertainties and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, we assume no obligation to update the forward-looking statements contained in this report. The Draeger Group will publish the Q1/2008 figures on May 8, 2008. You will find all other financial dates on our website at http://www.draeger.com under Investor Center/Financial Calendar.

Q1/2008 key figures (EUR million)

Q1/2008 Q1/2007 Change

Order intake 493.8 444.9 +11.0%

Medical 320.0 275.7 +16.1%

Safety 179.3 174.9 +2.5%

Net sales 405.7 392.5 +3.4%

Medical 264.1 260.0 +1.6%

Safety 147.6 138.9 +6.3%

EBIT(1) before non-recurring

expenses 17.5 17.4 +0.6%

Medical 12.1 8.5 +42.4%

Safety 9.5 12.3 -22.8%

Non-recurring expenses 7.1 0.0

Medical 0.4 0.0

Safety 5.2 0.0

Net profit 2.5 6.5 -61.5%

Earnings per limited

preferred share (EUR) 0.05 0.40 -87.5%

(1) EBIT = Earnings before net interest result and income taxes


'/>"/>
SOURCE Draeger
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. First biomarker discovered that predicts prostate cancer outcome
2. FDA Approves First Anti-Psychotic for Kids
3. Single-incision belly-button surgery to remove kidney performed first at UT Southwestern
4. First study examines newly-licensed RN work attitudes and intentions
5. Glades General Hospital First in Palm Beach County to Provide On-Site Electronic Birth Registration
6. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
7. Father and Daughter From Tanzania Receive Their First Medical Examination in Newport Beach
8. High and mighty: first common height gene identified by researchers behind obesity gene finding
9. APA Comments on FDAs First Approval of Medication to Treat Pediatric Schizophrenia and Bipolar Disorder
10. TriWest Creates First-of-its-Kind Partnership to Offer Military Leaders With Grief Support Program
11. Watson Receives First FDA Approval for Manufacturing Product at Its Goa, India Facility
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture ... said Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package ... Final Cut Pro X . Simply select a ProHand generator and drag it ...
(Date:6/25/2016)... Oklahoma City, Oklahoma (PRWEB) , ... June 25, ... ... to helping both athletes and non-athletes recover from injury. Recently, he has implemented ... for the Oklahoma City area —Johnson is one of the first doctors to ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published June 14 ... The article goes on to state that individuals are now more comfortable seeking to ... operations such as calf and cheek reduction. The Los Angeles area medical group, Beverly ...
(Date:6/24/2016)... ... ... Marcy was in a crisis. Her son James, eight, was out of control. Prone to ... , “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If there ... my other children and say he was going to kill them. If we were ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. Amanda ... orthodontic treatment. Dr. Cheng has extensive experience with all areas of orthodontics, including ... accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 Research and ... Market for Companion Diagnostic Tests" report to their offering. ... for Companion Diagnostics The World Market for ... personalized medicine diagnostics. Market analysis in the report includes the ... Market (In Vitro Diagnostic Kits) by Region (N. America, EU, ...
(Date:6/23/2016)... , June 23, 2016  MedSource announced today ... its e-clinical software solution of choice.  This latest ... possible value to their clients by offering a ... preferred relationship establishes nowEDC as the EDC platform ... MedSource,s full-service clients.  "nowEDC has long been a ...
(Date:6/23/2016)... Roche (SIX: RO, ROG; OTCQX: RHHBY) announced ... BRAHMS PCT (procalcitonin) assay as a dedicated testing solution ... this clearance, Roche is the first IVD company in ... sepsis risk assessment and management. PCT is ... levels in blood can aid clinicians in assessing the ...
Breaking Medicine Technology: