BERLIN (dpa-AFX) - German medical and safety technology provider Draegerwerk AG (DRWKF.PK) Thursday reported a loss after taxes of 27.1 million euros for the first quarter, versus a profit of 128.9 million euros last year.
In the quarter, earnings before interest and taxes or EBIT was a negative 35.1 million euros versus a positive 128.9 million euros last year. The Group attributed the results to an unfavorable product mix and high procurement and logistics costs. The EBIT margin for the quarter was at -5.4 percent versus 16.3 percent a year ago.
Order intake in the quarter climbed by 11.6 percent, in nominal terms, to 825.7 million euros. Dräger's net sales, on the same terms, slid by 18.0 percent to 649.5 million euros.
Looking ahead, Dräger said it continues to expect net sales to decline by 5.0 - 9.0 percent, net of currency effects, and EBIT margin to be between 1.0 and 4.0 percent for the full year.
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