BERLIN (dpa-AFX) - Drägerwerk AG & Co. KGaA (DRWKF.PK) reported that its preliminary net sales for the third quarter declined 9.1 percent, net of currency effects, to around 725 million euros from the prior year's 769.6 million euros.
But quarterly order intake rose to around 777 million euros from 759.6 million euros in the previous year.
EBIT was about negative 37 million euros compared to a positive 47.9 million euros in the prior year, mainly due to decline in net sales volume and the lower gross margin.
Dräger continues to expect a strong acceleration of sales recognition in the coming weeks. Due to the extent of the delay to date, Dräger no longer expects to be able to achieve the annual forecast.
Within its annual forecast, the Executive Board had anticipated a decline in net sales of between -5.0 and -9.0 percent, net of currency effects, and an EBIT margin of between 1.0 and 4.0 percent for 2022 versus prior-year. Most recently, the Executive Board had assumed that the lower end of the range would be achieved in each case.
The full results for the first nine months of the fiscal year will be published on October 27, 2022.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX