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Dragerwerk FY20 Profit Surges, Maintains Dividend; Sees Weak Margin, Sales In FY21

German medical and safety technology provider Draegerwerk AG & Co. KGaA (DRWKF.PK) reported Thursday that its fiscal 2020 net profit surged to 249.9 million euros from last year's 33.8 million euros.

Earnings before interest and taxes or EBIT rose significantly to 396.6 million euros, and EBIT margin improved to 11.6 percent from 2.4 percent last year.

Dräger increased net sales by 22.5 percent to 3.41 billion euros from prior year's 2.78 billion euros. Sales grew 25.7 percent net of currency effects. All regions contributed to net sales growth, with Europe accounting for the sharpest rise in net sales.

Order intake climbed 35.4 percent to 3.78 billion euros.

Further, the Executive Board of the general partner and the Supervisory Board will propose a dividend of 0.19 euro per preferred share and 0.13 euro per common share, both same as last year, to the annual shareholders' meeting on May 7.

Looking ahead for fiscal 2021, Dräger anticipates a decline in net sales, net of currency effects, of between 7.0 percent and11.0 percent. EBIT margin would be between 5 percent and 8 percent.

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