BERLIN (dpa-AFX) - German medical and safety technology provider Draegerwerk AG (DRWKF.PK) Thursday reported that its fourth-quarter earnings after income taxes were 49 million euros, compared to last year's loss of 16.3 million euros.
EBIT amounted to 59.7 million euros, more than quadrupling compared to the prior-year quarter's 14.7 million euros. This was due in particular to the higher sales volume and lower procurement costs as a result of improved material availability.
At 5.9 percent, EBIT margin was also significantly higher than prior year's 1.6 percent.
Draeger's net sales increased 10 percent in the fourth quarter to 1.02 billion euros from last year's 925.5 million euros. Net sales increased 7.3 percent net of currency effects.
Order intake was 860.6 million euros, compared to 850.8 million euros last year. Order intake was down 1.0 percent net of currency effects.
In fiscal 2022, net sales and earnings were significantly below prior year, in particular due to disrupted supply chains.
Looking ahead for fiscal 2023, the company expects return to profitable growth.
For 2023, Draeger expects an increase in net sales of between 7.0 and 11.0 percent, net of currency effects, and an EBIT margin of 0.0 to 3.0 percent.
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