BERLIN (dpa-AFX) - Drägerwerk AG & Co. KGaA (DRWKF.PK) reported that preliminary EBIT for the second quarter was negative 2 million euros, compared to 3.2 million euros last year due to a weaker gross margin, as well as higher costs, particularly as a result of the investments in specific sales capabilities.
The company reported a year-on-year growth in order intake of 2.9 percent (net of currency effects).
Net sales for the second-quarter increased by 2.0 percent (net of currency effects) to around 634 million euros from last year. In nominal terms, net sales were 2.3 percent.
The company reported that group net sales for the first six months of 2019 increased by 10.8 percent to around 1.236 billion euros from the prior year. Total EBIT for the period was negative 12 million euros, compared to negative 36.6 million euros last year.
Order intake increased by 3.1 percent year on year in the first six months of 2019 (net of currency effects).
The company expects net sales growth for fiscal year 2019 to be at the higher end of the guidance of between 1.0 percent and 4.0 percent (net of currency effects). The expectation for the EBIT margin remains between 1.0 percent and 3.0 percent.
The company will release its results for the first six months of the fiscal year on August 8, 2019.
Copyright RTT News/dpa-AFX