After a surprisingly good start to the year, the medical and safety technology group Drägerwerk is more optimistic about business development for the year as a whole. In the first quarter, according to preliminary calculations, the business was above original expectations, the company announced on Wednesday evening.
In the first quarter, sales rose by more than a quarter to a good 792 million euros compared to the previous year. According to the Management Board, both the medical and safety technology segments contributed to this. The EBIT was 129 million euros after a small minus in the previous year. The EBIT margin jumped from minus 0,1 percent to plus 16,3 percent.
As expected, incoming orders fell significantly in the first three months after Drägerwerk had benefited from the high demand a year earlier in the wake of the Covid-19 pandemic that flared up at the time. At 740 million euros, orders in the past quarter were only half as high as a year earlier, adjusted for currency effects, but were still almost 100 million euros higher than in the pre-Corona period in the first quarter of 2019.
The company plans to publish the full figures on April 29th.