BERLIN (dpa-AFX) - German medical and safety technology provider Draegerwerk AG & Co. KGaA (DRWKF.PK) reported that its preliminary net sales for the first quarter of 2023 increased by 18.0 percent (net of currency effects) to around 761 million euros, from last year. This was due in particular to the significant improvement in delivery capabilities, which enabled strong sales growth from the high order backlog.
Earnings before interest and taxes (EBIT) were around 29 million euros compared to negative 35.1 million euros last year.
Order intake in the first quarter of 2023 was down 1.9 percent year on year (net of currency effects), amounting to around 804 million euros.
Drager confirmed its forecast for the current fiscal year. It still expects a return to growth and profitability with an increase in net sales of 7.0 to 11.0 percent (net of currency effects) and an EBIT margin of 0.0 to 3.0 percent.
The company said it will publish full results for the first three months of the fiscal year on April 28, 2023.
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