BERLIN (dpa-AFX) - German medical and safety technology provider Draegerwerk AG (DRWKF.PK) reported that its preliminary net sales for fiscal year 2019 rose by about 7.3 percent or about 6.0 percent net of currency effects to 2.78 billion euros from last year.
Annual order intake increased by about 4.2 percent or about 3.0 percent net of currency effects.
Earnings before interest and taxes or EBIT for fiscal year 2019 were slightly higher than in the prior year. The company expects EBIT margin for 2019 to be between 2.3 percent and 2.5 percent, compared to 2.4 percent in 2018.
The company expects somewhat weaker net sales development in the fiscal year 2020.
The company expects to see currency-adjusted net sales growth of between 1.0 and 4.0 percent in fiscal year 2020, compared to currency-adjusted net sales growth of around 6.0 percent in 2019.
The company expects the gross margin to be roughly on par with the prior year. Due to the current lengthy regulatory approval times and increased uncertainty regarding the timing of market launches for new medical products for the US-market, Draeger forecasts an EBIT margin of between 1.0 and 4.0 percent for the fiscal year 2020.
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