BERLIN (dpa-AFX) - German medical and safety technology provider Draegerwerk AG (DRWKF.PK) reported that its second-quarter preliminary EBIT declined to 80 million euros from last year's 102 million euros, due to the lower gross margin and higher functional expenses.
Net sales were about 841 million euros, a currency-adjusted increase of 9.0 percent or 6.7 percent on nominal basis compared to the prior year's period.
The company had already raised its guidance on June 21, due to the better than expected order development. The company expects a currency-adjusted decrease in net sales of between 2 and 6 percent for fiscal year 2021. This would correspond to a nominal decrease in net sales of around 3 to 7 percent. The EBIT margin is expected to be between 8.0 and 11.0 percent.
The company expects pandemic-related demand to normalize in the second half of the year and does not anticipate comparable demand in the coming year.
The company will publish its full results for the first six months of the fiscal year on July 29, 2021.
Copyright RTT News/dpa-AFX