Dragerwerk AG & Co. KGaA (DRWKF.PK), a manufacturer of medical and safety technology products, reported that third-quarter earnings after income taxes fell to 15.3 million euros from last year's 18.6 million euros.
EBIT amounted to 24.4 million euros, lower than prior year's 29.2 million euros. The EBIT margin for the quarter came to 3.1 percent, down from 3.7 percent a year ago.
The gross margin fell to 43.5 percent from last year's 44.0 percent.
Dragerwerk's net sales decreased 1.8 percent to 774.6 million euros from prior year's 788.5 million euros. On a constant currency basis, sales edged down 0.7 percent.
In the third quarter, order intake increased 1.2 percent to 816.2 million euros from prior year's 806.7 million euros. The growth was 2.6 percent net of currency effects.
Further, the company confirmed its outlook for fiscal 2024, still expecting net sales growth of 1 to 5 percent net of currency effects; and an EBIT margin of 2.5 to 5.5 percent.
The company continues to expect net sales growth in the lower half and an EBIT margin in the upper half of the forecast range.
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