The medical and security technology group Drägerwerk did not increase sales as much as hoped last year.
However, the operating result was better than expected.
Revenue stagnated at 3.37 billion euros, as the SDAX-listed company surprisingly announced on Wednesday evening in Lübeck. Adjusted for the effects of the strong euro, sales would have increased by 0.6 percent. The group had recently forecast currency-adjusted growth of between one and three percent.
The margin based on earnings before interest and taxes (EBIT) was 5.8 (2023: 4.9) percent, slightly higher than previously forecast. Drägerwerk also benefited from positive one-off effects. In 2025, sales are expected to increase by between one and five percent without the impact of currency conversions and the operating margin should be between 3.5 and 6.5 percent.
Drägerwerk investors celebrate profitability
Despite a mixed overall picture of the key data, investors are keen to buy Drägerwerk on Thursday because of its operational development. In XETRA trading, the price temporarily rose by 7.55 percent to 52.70 euros. This means that the shares have reached their highest level since July.
Although sales did not increase as much as hoped in 2024, the operating result (EBIT) was better than expected. Henrik Paganetty from the analysis company Jefferies also spoke of a good result because the EBIT exceeded the consensus by 17 percent and even exceeded his own expectations by 20 percent. The fact that sales slightly missed estimates was apparently less significant. A trader also mentioned the order development positively. The first targets for 2025 correspond to expectations, added Paganetty.
LÜBECK/FRANKFURT (dpa-AFX)
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