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Welcome to Investor Relations

Welcome to the Investor Relations page for Drägerwerk AG & Co. KGaA. Here you can find more information about our company profile, reasons to invest, our company goals, and our markets.

We stand for ›Technology for Life‹

Dräger manufactures medical and safety technology products. By doing so, we protect, support, and save the lives of people in hospitals, fire departments, rescue services, government agencies, mining, and industry around the world. The family-run company was founded in Lübeck, Germany, in 1889. Over the past five generations, Dräger has evolved into a global, publicly traded group. Dräger employs more than 16,000 people worldwide and is currently represented in over 190 countries. In 2023, the company generated net sales of around EUR 3.4 billion. Dräger technology is used all over the world. We operate in around 50 countries with our own sales and service companies directly on location where our customers are. The company’s long-term success is based on the four key strengths of its value-driven corporate culture:

customer intimacy,
professional employees,
continuous innovation, and
a commitment to outstanding quality.

Company Profile

Reasons to invest in Dräger

Flexible—even in times of crisis

Switch to a multiple-shift schedule, ramp-up of production capacities, and development and opening of new production sites after the onset of the coronavirus pandemic.

Quality and innovation

The Dräger brand is known worldwide for quality and innovation.

Values

Dräger combines a modern approach to management with the values of a family-run company.

A global leader

Dräger is a global leader in the fields of medical and safety technology.

Technology for Life

Dräger provides products that protect, support, and save lives.

Global network

Dräger has formed well-established customer relationships over many years through its global sales and service network.

Company goals

Long-term company goals

We have been devoted to developing and producing ›Technology for Life‹ for over 130 years now – it is a vital part of our corporate identity. Our products protect, support, and save lives. These are our foundations, which we will continue to build on in the future. In order to maintain and further strengthen our market position, in the future we will continue to do everything we can to optimally align the interests of our customers, suppliers, employees, shareholders, banks, and those in our direct vicinity with our own.

Our company principles are and remain the guiding philosophy for all our actions. They determine a key part of our decision-making: We are an independent, self-determined, pioneering, value-creating, and attractive company and want to remain so.

Our four corporate aspirations represent our vision of Dräger in the coming years.

We are first choice for our customers

Across all functions, we have a joint focus on our customers, who have a positive experience at all Dräger touchpoints. Customer satisfaction and loyalty is high.

We have a truly global footprint

Around the world, we offer a high level of service to our customers. We have the right structures and processes to serve our global markets, work with our suppliers, and support our sales channel partners. We encourage our people to bring out their talent wherever they are and in whatever function they operate. Our balanced global resources give us flexibility, allow us to respond quicker to opportunities, and make us resilient against crises. We think globally and act locally.

We are networking across borders as entrepreneurs

We see the big picture, share our knowledge and expertise, support and collaborate with each other, and learn from each other. We are all part of a professional and social network working across departmental, legal entity, and country borders. This goes beyond our Company and includes customers, suppliers, and sales channel partners. We manage the challenge to be connected. Our entrepreneurial spirit is based on our individual judgement and common sense.

We get things done

We get things done with an entrepreneurial culture in a lean organization. For our customers, we have offerings that no other supplier can match, whether these are innovative products, integrated systems, or engineered solutions. With our innovations, we are the first to fulfill customer needs. Dräger’s culture empowers our people to make decisions each and every day.

Medium-term company goals

Our medium-term company goals are based on our corporate aspirations and are aligned with financial and non-financial targets. While defining our current goals, we determined the following priorities:

Focus on profitability

Profitability is the prerequisite for our long-term survival because it enables us to finance our future investments from our own resources. Our aim is therefore to increase our profitability. In order to do so, we want to increase our EBIT margin by an average of one percentage point per year over the coming years. The environment for this is good because the global markets for medical and safety technology offer an excellent growth environment for our ›Technology for Life‹. In order to sustainably increase profitability, we will focus on supporting our margins through price enforcement and careful cost management, aligning our activities even more closely with our customers and consistently pushing ahead with our own initiatives. We will also restructure or discontinue unprofitable activities.

Innovation leadership

›Technology for Life‹ is our guiding philosophy. Technology stands for technological innovation and engineering excellence, which are deeply ingrained in our DNA. We have products that are held in high regard, considered particularly innovative, and market-leading in certain aspects. These innovative products are developed in close collaboration with customers all over the world, by a top-class research and development team. The team utilizes the latest technologies and methods and is always conscious of achieving continuous improvement.

At the same time, we invest in commercial innovations to develop business models that meet the requirements of our existing and future customers. We also support local innovation and added value in different countries, particularly in services, project business, and additional software, by offering engineered solutions where they are utilized.

Competency in the fields of system business and interoperability

To offer our customers even more value, we are strengthening our system business. This means that we understand customer requirements both from a technical and a business perspective. With this system approach, we can achieve a larger share of wallet and share of mind among our customers and are integrated deeply in their value chain. We are developing our business more toward an approach based on system solutions and cash-flow orientation. One of the reasons for doing this is to counteract a price war in which some of our traditional products are becoming a commodity.

Interoperability is the ability of machines, devices, sensors, and people to connect with each other and communicate. This approach supports our customers’ decision-making process through greater transparency, by linking up data and providing recommendations. In most cases, these systems run on an infrastructure that we do not develop ourselves and that is not owned by us or the customer. We deliver and procure the components and bear responsibility for system functionality.

Strategic goals in markets

Medical

With our products, system solutions, and services, we are helping hospitals around the world to achieve the best possible treatment outcomes in acute care – despite rising challenges.

Improving acute care through therapy support and automation
Connected medical technology
Modernization of the product portfolio
Development of digital applications
Strengthening offers along the product life cycle

Safety

In the safety division, our portfolio of products and solutions includes stationary and mobile gas detection systems, personal protective equipment, alcohol and drug testing devices, and a varied range of training and services.

Our goal is to continuously improve the safety and productivity of industrial processes and employees through this portfolio of hardware, software, consulting, and services.

In our target markets

fire and rescue services,
raw material extraction,
the chemical industry, and
oil and gas,

we work with our customers to develop integrated safety approaches and solutions that are tailored to the individual situation based on our application understanding, outstanding service orientation, and global on-site presence.

We focus on the following strategic issues in order to develop the safety division’s market position:

Internationalization of rental and safety services

Increased focus on the market for light respiratory protection
Digitalization and data-supported services
Optimizing touch points on the path to the customer
Developing promising fields of sustainability and renewable energies

Expectations for fiscal year 2024

	Results achieved for fiscal year 2023	Forecast for fiscal year 2024
Net sales (net of currency effects)	13.1%	1.0 to 5.0%
Gross margin	43.3%	43.0 to 45.0%
EBIT margin	4.9%	2.5 to 5.5%
DVA	EUR 55.8 million	EUR -60 to 40 million

R&D costs	EUR 325.4 million	EUR 330 to 350 million
Net financial debt	EUR 197.7 million	at prior-year-level
Investment volume¹	EUR 86.3 million	EUR 95 to 115 million
Interest result	EUR -25.1 million	EUR -20 to -26 million
Days Working Capital (DWC)	108.8 days	108 to 113 days

¹Excluding acquisitions and the capitalization of right-of-use assets pursuant to IFRS 16

Our markets

Medical

As a specialist for acute care, our aim is to optimize critical care. Because our focus is on the satisfaction of hospital staff and the well-being of patients in addition to improving clinical results and optimizing treatment costs, Dräger has been passionate about developing technologies, products, expertise, and services for critical care that help hospitals achieve their goals for over 130 years.

Safety

Dräger Safety offers a wide range of safety products such as mobile and fixed gas detection devices, as well as personal protective equipment. A global sales network and more than 130 years of experience underpin Dräger’s outstanding reputation in the field of safety technology. For small-scale enterprises and major corporations alike, Dräger has the ideal solution for every situation and helps protect employees, equipment, and systems.