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| For the first time ever, the Dräger Group, Lübeck (sales in 2001: €1.3 billion; EBIT in 2001: €49.5 million; 9,500 employees) generated in the first three months of a year positive earnings through higher sales, process improvements and a leaner cost management, totaling €3 million (previous year: a negative EBIT of €16 million). The Dräger Safety subgroup continued recent years’ upswing. For Dräger Medical, the measures from the restructuring program are showing effect. Increasing by more than 10 percent over Q1/2001, Group sales climbed to a total of €280 million, the first quarter of 2002 thus sustaining the earnings-driven growth of the preceding year.
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| At €10 million, Dräger Safety (sales in 2001: €425 million; EBIT in 2001: €30 million; 3,030 employees) showed a steep EBIT rise over Q1/2001, while sales advanced 14.7 percent to around €108 million (up from €94 million a year earlier). Sales increases by the non-German sales companies were exceptionally strong in all regions. This improvement was posted by all product groups. In Q1/2002, order intake climbed globally over the year-earlier period by 8 percent to €113 million. At 15.6 percent, the European countries (excluding Germany) achieved the largest gains. Personal protection products were in brisk demand. |
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| "The earnings and sales growth at Safety was chiefly the outcome of the subgroup’s consistent market- and process-oriented alignment," stated Dräger Executive Board member for Safety, Prof. Albert Jugel, when commenting on the success of his division. "An innovative services spectrum, direct customer proximity and comprehensive process management have led to further efficiency enhancements at Dräger Safety." Also, the healthy order and hence sales situation as well as a rigorous cost management largely contributed, he said, toward these positive earnings in the first quarter of 2002, which are well above the Q1/2001 level. |
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| "Dräger Medical (sales in 2001: €805 million; EBIT in 2001: €39 million; 4,800 employees) for the first time in the division’s history generated a positive EBIT in the first quarter, a period which in the past had traditionally shown poor sales. This not only represents an important strategic target achievement, it is also a very sound basis for a sustained performance improvement over the previous year," stated Dr. Wolfgang Reim, Executive Board member for Dräger Medical. In Q1/2002, Dräger Medical generated a positive EBIT of €4 million (up from a negative €7 million). Worldwide sales climbed almost 14 percent to €168 million in the first quarter (up from €150 million). Order intake rose 7 percent to €210 million over the previous year, altogether 72 percent of all customer orders being placed abroad.
It was chiefly much stronger demand in Anesthesia, HomeCare, and IT, as well as steep growth rates in the US and Asia that fueled earnings. Likewise encouraging were the effects from the ongoing implementation of productivity enhancement programs and from the unswerving focus on global business processes, these allowing us to predict further EBIT improvements over the years to come.
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| In the quarter ended March 31, 2002, the price of Dräger preferred stock had climbed 25 percent, from €10.50 to €13.30.This clearly outperformed both the SDAX and the MDAX (each up less than 5 percent). Meanwhile, the price of Dräger preferred stock has passed the €15 resistance level and is presently at €16.
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| In looking ahead to the current fiscal year 2002, Dräger’s Executive Board reemphasizes its annual target of boosting Group sales by more than 5 percent and EBIT above average. According to Theo Dräger, CEO of Drägerwerk AG, Lübeck, both Dräger Medical and Dräger Safety with their product and services portfolios were well poised in the international arena, allowing them to outpace their markets, with EBIT outgrowing sales.
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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