BERLIN (dpa-AFX) - Drägerwerk AG & Co. KGaA (DRWKF.PK) reported that preliminary net sales for the first quarter of 2022 declined to 649.5 million euros from last year's 792.1 million euros.
Adjusted for currency effects, net sale was 19.5 percent below the record figure of the prior-year quarter. The main reason for this was the significantly lower demand for ventilators and respiratory protection masks, which had been strongly in demand until the end of last year in connection with the coronavirus pandemic.
EBIT in the first quarter of 2022 was negative around 35 million euros compared to positive 128.9 million euros in the prior year.
Order intake developed positively. Adjusted for currency effects, it increased by 10.2 percent yea-over-year to 825.7 million euros in the first quarter of 2022, growing both in the Medical and Safety divisions.
Business performance in the first quarter is therefore in line with the previously published guidance, which expects a currency-adjusted decline in net sales of between -5.0 and -9.0 percent and an EBIT margin of between 1.0 and 4.0 percent for the current year. The Executive Board confirmed the guidance, but now considers the lower end likely due to the increasing difficulties in the supply of electronic components.
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