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| Lübeck-based Drägerwerk AG, a German global technology group specializing in medical, safety and aerospace technologies, reported a net income for the six months ended June 30, 2002, of €11 million (up from an H1/2001 net loss of €11 million). The company thus not only achieved the entire previous year’s profit of €10 million by midyear but even outshone all of 2001. |
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| Group sales rose by 11% to €610 million from the year-earlier €547 million. Both subgroups, Dräger Medical and Dräger Safety, contributed to the improved bottom line. While Dräger Safety again ramped up its performance from a high level, Dräger Medical, in particular, realized its intrinsic potential and made the greatest leap forward. The share of non-German sales in the total grew further. The Group’s worldwide Q2 headcount totaled some 9,600 employees. Here are some details of how the two subgroups developed in the period: |
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The Dräger Safety subgroup recorded its best-ever semiannual result, generating an EBIT of €23 million (up from €13 million) for the six months ended June 30, 2002. This corresponds to an EBIT margin of about 10%, as well as a 57% jump from the H1/2001 level.´
The sub-group’s worldwide sales of some €231 million exceeded the year earlier’s by 20%, EBIT growth thus outpacing the sales increase. Dräger Safety’s sales growth surpassed average regional market growth in all geographical segments (Europe, NAFTA, Asia/Pacific), thus further sharpening Dräger Safety’s competitive edge worldwide.
All units (Personal Protection, Gas Detection, Service) equally contributed to the higher sales.
Order intake presented a similar upswing, rising 13% over the year-earlier level. Dräger Safety expects this trend to continue into H2/2002. According to Dräger Safety CEO Prof. Dr. Albert Jugel, the success ingredients were Dräger Safety’s strong product portfolio with single-source solutions for hazard management within safety technology, an excellent global marketing and service network, and a sustained, strict cost management system.
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| Thanks to ongoing structural improvements, new products, enhanced market penetration and successful internal process optimization, the Dräger Medical subgroup made a giant leap in the first six months of 2002, generating an EBIT of €20 million (up from the year-earlier €2 million).
Sales edged up by 2% to €371 million (from €346 million), all business units contributing. The Anesthesia unit delivered an outstanding performance by further upgrading its market position through product innovations. The steepest growth rates were recorded by the North American (up 38%) and Asian/Pacific (up 25%) sales regions. The translation into practice of process improvements further cut down capital employed and thus significantly bettered ROCE versus the year before.
Dräger Medical CEO Dr. Wolfgang Reim: ”It was especially the implementation of globally oriented, standardized business processes that clearly strengthened our cost and capital structures. Encouraging order intake growth rates in combination with these better cost and capital platforms will help continue Dräger Medical’s success story from 2001 through the end of this year.” |
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Commented Drägerwerk CEO Theo Dräger on the Group’s successful H1 performance:
”We are confident that the Dräger Group with its powerful Medical and Safety subgroups will con-tinue to outpace market growth and that our bottom line outshines our sales increases. The business trend so far suggests that we will achieve our budgeted targets, with performance improving by a solid 2-digit percentage and sales up by 6% to 8%. ´
Our strategies have proved successful, and the dynamic sales uptrend in our markets is also reflected in the motivation of our employees.”
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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