BERLIN (dpa-AFX) - German medical and safety technology provider Draegerwerk AG & Co. KGaA (DRWKF.PK) reported that preliminary net sales for the first quarter of 2021 were significantly higher than the same period of the previous year.
Net of currency effects, net sales for the quarter rose around 28.2 percent or 23.8 percent nominal basis to about 792.1 million euros from last year.
The EBIT for the first quarter was around 129 million euros compared to negative 0.6 million euros in the previous year.
Incoming orders at Dräger in the first quarter of 2021 were lower at around 739.8 million euros compared to 1.39 billion euros last year.
For the full year, Dräger expects a currency-adjusted decline in net sales of between - 7.0 and - 11.0 percent and an EBIT margin of between 5.0 and 8.0 percent.
According to the company, the business development in the first quarter was above the original expectations, so that the probability of the upper end of the forecast or even exceeding the forecast has increased. The current epidemic situation does not permit a more precise forecast at this point in time and also contains signs of a general weakening of economic development.
The company said it will review the forecast again at the latest with the half-year results and refine it if necessary.
Dräger will publish its full results for the first quarter on April 29, 2021.
Copyright RTT News/dpa-AFX
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