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The Lübeck-based Dräger Group virtually doubled its net income for 2002 to EUR 19.8 mil-lion (up from EUR 10.2 million). Net sales were raised by 6.0 percent to EUR 1.333 billion (up from EUR 1.257 billion). Order intake by Dräger climbed, too, up 4.1 percent from EUR 1.292 billion to EUR 1.345 billion. EBIT hiked up 34 percent to EUR 64.5 million (from EUR 49.5 million), the EBIT margin improving from 3.9 to 4.8 percent, after accounting for nonre-curring expenses of around EUR 15 million.
ROCE improved from 9.2 percent in 2001 to 13.2 percent in 2002. The Group’s net financial debts were downsized from EUR 240 million a year ago to EUR 189 million in 2002. Both subgroups, Dräger Medical and Dräger Safety, made a decisive input to the uptrend in 2002.
Die Kapitalrendite (ROCE) verbesserte sich nach 9,2 Prozent im Jahre 2001 auf jetzt 13,2 Prozent. Die Nettoverschuldung des Konzerns wurde auf jetzt 189 Mio Euro (Vorjahr: 240 Mio Euro) abgebaut. Zu der positiven Entwicklung in 2002 haben beide Teilkonzerne, Dräger Medical und Dräger Safety, entscheidend beigetragen.
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| Dräger Medical stepped up its net sales by 5.3 percent from EUR 805 million to EUR 848 million. A the same time, this subgroup doubled its EBIT to EUR 75 million (up from EUR 39 million), equivalent to an EBIT margin of 8.9 percent (up from 4.8 percent). ROCE soared from 12.3 to 25.1 percent. |
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| With net sales up 10.8 percent to EUR 471 million (from EUR 425 million), Dräger Safety generated an EBIT of EUR 40.1 million (up from EUR 30.3 million). The EBIT margin was ratcheted up from 7.1 a year ago to 8.5 percent in 2002. ROCE, too, was upgraded from the prior-year 19.4 percent to 27.1 percent in 2002. |
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| Dividend proposal: For fiscal 2002, Drägerwerk AG’s Executive Board will propose to the Supervisory Board and the annual stockholders’ meeting to distribute from the net income for 2002 a cash dividend of EUR 0.35 (up from EUR 0.13 + EUR 0.13 in arrears) per share to preferred stockholders and one of EUR 0.29 per share to common stockholders. In line with the tenfold par value, holders of participation certificates will then receive €3.50 (10 times the preferred dividend, which governs the distribution to participation certificate holders). |
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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