Draegerwerk Exceeds Profitability Goal on Year-End Orders

Draegerwerk AG & Co. KGaA, a German medical-equipment manufacturer, said it exceeded an earnings target after generating a higher number of orders for more profitable products such as ventilators at the end of 2012.

Earnings before interest and tax were as much as 9.7 percent of revenue last year according to preliminary data, the Luebeck, Germany-based company said today in an e-mailed statement. Draegerwerk had said its so-called Ebit margin would be in the “mid-range” of 8 percent to 9.5 percent, according to the statement.

Sales rose 5.3 percent to almost 2.4 billion euros ($3.2 billion) in 2012 from a year earlier while order intake gained 4.8 percent to “a good” 2.4 billion euros, the company said. Excluding currency effects, sales increased 2.6 percent while order intake advanced 2.2 percent, according to the statement.

Sales should rise at about the same rate this year as they did in 2012 when excluding currency effects, Draegerwerk said. The company’s Ebit margin will be 8 percent to 10 percent depending on individual markets and products, according to the statement.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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