Calendar and publications

Dräger Value Added = EBIT less cost of capital of average capital employed.
Dräger Value Added (DVA) is the central key management figure at Dräger. It is reported for the two segments (medical and safety divisions). We use DVA to measure the development of the Company’s added value and that of its various units. Not only does Dräger base its strategic decision-making on the development of DVA, the management’s variable remuneration is also aligned with DVA, among other things.
We want to achieve three key goals with the help of management via DVA:

• profitable growth,
• increasing operating efficiency and
• increasing capital efficiency.
  In mathematical terms, DVA is the difference between the operating result (earnings before interest and taxes –EBIT) over the preceding twelve months and calculated capital costs. Capital costs are determined using average capital employed in the past twelve months, based on the average cost of equity and borrowed capital before taxes. 

Gross profit margin = (net sales – cost of sales) / net sales.

EBITDA = earnings before net interest result, income taxes, depreciation and amortization.

EBITDA is calculated from EBIT by adding depreciations recognized in income and deducting write-ups recognized in income on intangible assets, property, plant and equipment, and right-of-use assets.

EBIT = Earnings before net interest result and income taxes.

EBIT margin = Ratio of EBIT to sales.

Net financial debt = Non-current and current interest-bearing loans, liabilities to banks and non-current and current lease liabilities less cash and cash equivalents.

Net financial debt (value as at the reporting date) / EBITDA (value of the last 12 months). 

This key figure provides information on the extent to which the company is able to fulfil its payment obligations.

Constant currencies for income and expenses are calculated using prior year average rates; constant currencies for assets and liabilities are calculated using the mid-closing rate on the date of the respective statement of financial position.

Capital Employed = Total assets less deferred tax assets, securities, cash and cash equivalents, non-interest-bearing liabilities and other non-operating items.

ROCE = EBIT (value of the last 12 months) / capital employed (value as at the reporting date).

Net Working Capital = Trade receivables and inventories less trade payables, customer prepayments, short-term operating provisions and other short-term operating items.

Gearing = Ratio of net financial debt to equity.

Working Capital = Average balance of trade receivables, contract assets, notes receivable and inventories less trade payables, notes payable and contract liabilities over the last twelve months.

Days Working Capital = Average reach of net working capital of the last twelve months.

Free Cashflow = The sum of the change in cash flow from operating and investing activities.

R&D ratio = Ratio of R&D expenses to sales.

Research and development expenses (R&D) include all costs incurred during the research and development process. This also includes the costs for approval, prototypes and initial series production costs, unless they are capitalized as separate development costs for products including their software. Research costs at Dräger comprise direct research costs and directly attributable overheads.

Order intake = Total customer orders received up to the balance sheet date.

Employees = Temporary employees as well as permanent employees, regardless of their working hours.
Not included are trainees and working students, drivers or security guards if they do not have an employment contract with Dräger, inactive employees (e.g. employees on maternity leave, employees on parental leave, employees on leave of absence) and temporary workers.

Scope 1 emissions = Direct emissions from fuels and mobility. 

• Primary data with mass-based calculation of fuel or gas consumption.
  We calculate Scope 1, 2 and 3 emissions in accordance with the requirements of the GHG Protocol.

Scope 2 emissions = Purchased energy.

• Primary data with activity-based calculation of electricity and heat consumption.
• In individual cases, it was not possible to determine a provider-specific emission factor, so the regional grid average is also used as an approximate value when calculating the market-based result.

When calculating Scope 1, 2 and 3 emissions, we follow the guidelines of the GHG Protocol.

Operating expenses (OpEx) cover, as per the definition of the EU Taxonomy Regulation, the direct, non-capitalized costs in connection with Research and Development (R&D), short-term leasing, building renovation measures, as well as maintenance and repair costs. Research and development costs that have already been taken into consideration under investment expenditure are not operating expenses.