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Draegerwerk Q2 Preliminary EBIT Down

German medical and safety technology provider Draegerwerk AG (DRWKF.PK) reported that preliminary EBIT for the second-quarter was about 17 million euros, approximately 20% below the level of the prior-year quarter's 21.2 million euros.

The company recorded net of currency effects a 7.0 percent (nominally 6.6 percent) increase in orderintake year-on-year in the second quarter of 2017.

Net sales increased net of currency effects by 1.0 percent (nominally 0.3 percent) to 581 million euros. As a result, the orders on hand further increased in the second quarter. The gross margin declined and stood at 44.4 percent compared to 45.5percent last year. The decline in the gross margin was mainly due to negative currencyeffects caused by the stronger Euro.

For fiscal year 2017, the company continues to expect net sales growth of between 0.0 and 3.0 percent (net of currency effects) and an EBIT margin of between 5.0 and 7.0 percent.

The company will publish its full results for the first six months of the fiscal year on July 27, 2017.

by RTT Staff Writer

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