Dragerwerk AG & Co. KGaA (DRWKF.PK), a manufacturer of medical and safety technology products, Thursday reported earnings before interest and taxes or EBIT of 55.8 million euros for the first half, higher than 47.7 million euros in the same period last year.
Net sales decreased 0.8 percent to 1.521 billion euros from 1.532 billion in the previous year, in which sales were benefitted by improvement in delivery capacity and a surge in demand for ventilators in China.
In the first half, the group's order intake increased 0.5 percent to 1.604 billion from 1.597 billion a year ago.
Looking ahead, Drager continues to expects sales to grow in the range of 1 percent to 5 percent, net of currency effects. EBIT margin is expected between 2.5 percent and 5.5 percent.
"Due to the continued moderate demand in the medical business, we now tend to expect net sales growth in the lower half of the forecast range. However, we have become more optimistic with regard to our profitability. We now believe that an EBIT margin in the upper half of the forecast range is more likely," said Stefan Drager, Chairman of the Board.
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