Stefan Dräger, CEO of Drägerwerk Verwaltungs AG said, Given the good first quarter, we are confirming our 2011 growth forecast.
EBIT margin rose to 8.5 percent
Dräger achieved total Group EBIT of EUR 42.6 million in the first quarter of 2011, an increase of 15.9 percent compared to the prior year’s period. The EBIT margin rose from 7.9 percent to 8.5 percent. Higher net sales, favorable exchange rates and positive changes to the product mix contributed to the development. As planned, these amounts were partially used as increased expenses for research and development, marketing and sales as well as IT infrastructure. Earnings after income taxes rose by 24 percent to EUR 23.2 million year-on-year.
Equity ratio went up to 33.1 percent
Dräger Group’s equity rose by EUR 11.2 million to EUR 647.8 million in the first three months of 2011, with the equity ratio increasing from 32.2 percent on December 31, 2010, to 33.1 percent. On March 31, 2010, prior to the capital increase, the equity ratio had been at 21.8 percent. “We have more strategic scope of action as our equity is increasing. For this reason, we are aiming to generate an equity ratio of at least 35 percent. We want to be ready for the next slump of the global economy,” highlighted Stefan Dräger.