Drägerwerk AG & Co. KGaA: Dräger with strong demand, noticeable net sales growth and very good earnings performance in the first nine months of 2025

Dräger with strong demand, noticeable net sales growth and very good earnings performance in the first nine months of 2025

• Order intake significantly increased
• Net sales growth in both divisions and all regions
• EBIT up substantially excluding positive one-off effects in the prior year
• Considerable increase in net sales and earnings in the third quarter
• Annual forecast: net sales and EBIT margin expected to be in the upper half of the range

Lübeck – Drägerwerk AG & Co. KGaA significantly increased its order intake in the first nine months of 2025 thanks to strong demand. At around EUR 2,594 million, order intake exceeded the high prior-year figure by around EUR 174 million (9 months 2024: EUR 2,420.5 million). Net sales increased by around EUR 48 million to around EUR 2,344 million (9 months 2024: EUR 2,295.1 million). At EUR 77.1 million, earnings before interest and taxes (EBIT) did not reach the prior year's figure (9 months 2024: EUR 80.1 million), but this was mainly due to the positive one-off effects in the prior year. The EBIT margin amounted to 3.3 percent (9 months 2024: 3.5 percent).

“Demand for our ‘Technology for Life’ was significantly higher in the first nine months of 2025 than the prior year's high level. The last time we had such a strong order intake after three quarters was in our record year 2020,” says Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG. “Net sales have also increased noticeably. Our earnings have also developed very well. Despite the absence of positive one-off effects and the headwinds from US tariffs and unfavorable exchange rates, we almost matched the prior year's result. This shows that we are making progress in improving our profitability.”

Order intake significantly increased
In the first nine months of 2025, the Group's order intake increased by 9.0 percent (net of currency effects) to EUR 2,594.1 million (9 months 2024: EUR 2,420.5 million). This was due to good demand in both divisions and all regions.

In the medical division, order intake rose by 11.6 percent (net of currency effects) to EUR 1,495.5 million (9 months 2024: EUR 1,368.5 million). The main driver was the high demand for our ventilators, anesthesia machines, services, and consumables. In the second quarter, we also received a major multi-year order for hospital infrastructure systems from Mexico.

The safety division continued its order growth. Order intake increased by 5.7 percent (net of currency effects) to EUR 1,098.6 million (9 months 2024: EUR 1,052.1 million). The biggest growth drivers were gas detection, respiratory and personal protection products, and engineered solutions.

Net sales growth in both divisions and all regions
Group net sales rose by 3.7 percent (net of currency effects) to EUR 2,343.5 million in the first nine months of 2025 (9 months 2024: EUR 2,295.1 million). Both divisions grew: the medical division recorded growth of 4.7 percent (net of currency effects) to EUR 1,322.3 million (9 months 2024: EUR 1,285.3 million), while the safety division increased its net sales by 2.4 percent (net of currency effects) to EUR 1,021.2 million (9 months 2024: EUR 1,009.7 million). All regions contributed to growth at both Group and division level.

Earnings up substantially excluding positive one-off effects in the prior year
The gross margin rose by 0.7 percentage points to 45.1 percent in the first nine months of 2025 (9 months 2024: 44.4 percent). The margin improvement in the medical division was stronger than in the safety division.

At EUR 77.1 million, our EBIT did not reach the prior year's level (9 months 2024: EUR 80.1 million). This was mainly due to positive one-off effects of around EUR 30 million in the prior year: in the second quarter of 2024, Dräger sold a non-strategic business area in the Netherlands and a property in the USA for a total of around EUR 20 million; in addition, a building in Spain was sold for around EUR 10 million in the third quarter of 2024. Currency and tariff effects also had a negative impact on earnings in the first nine months of 2025. Adjusted for these effects, our EBIT would have significantly exceeded the prior year's figure.

Business development in the third quarter
In the third quarter, order intake increased by 6.9 percent (net of currency effects) to EUR 856.1 million (Q3 2024: EUR 816.2 million). The medical division recorded growth of 5.4 percent (net of currency effects) to EUR 484.7 million (Q3 2024: EUR 468.4 million). In the safety division, order intake increased by 8.8 percent (net of currency effects) to EUR 371.4 million (Q3 2024: EUR 347.8 million).

Dräger's net sales increased significantly by 10.1 percent (net of currency effects) to EUR 833.3 million (Q3 2024: EUR 774.6 million). Both divisions and all regions recorded growth. The gross margin increased by 2.1 percentage points to 45.6 percent (Q3 2024: 43.5 percent). EBIT more than doubled to EUR 56.7 million (Q3 2024: EUR 24.4 million) despite the negative effects mentioned above. The EBIT margin also increased significantly by 3.7 percentage points to 6.8 percent (Q3 2024: 3.1 percent).

Annual forecast: net sales and EBIT margin expected to be in the upper half of the range
For the current fiscal year, Dräger now tends to expect net sales growth of 3.0 to 5.0 percent net of currency effects (previously 1.0 to 5.0 percent net of currency effects) and an EBIT margin of 4.5 to 6.5 percent (previously 3.5 to 6.5 percent).

“The excellent order development and the increasing sales momentum make us optimistic for the further course of business this year,” says Stefan Dräger.

Further information is available in the financial report at www.draeger.com.

Disclaimer
This press release contains statements on the future development of Dräger Group. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information available to date. They were compiled to the best of the company’s knowledge. Dräger does not provide any warranty nor assume any responsibility for the future developments and results described above. These are dependent on a number of factors. They entail various risks and contingencies outside of the company’s influence and are based on assumptions which could prove to be incorrect. Dräger does not assume any responsibility for updating the forward-looking statements contained in this report. This does not infringe any legal stipulations on the adjustment of forecasts. Information on the financial indicators used (incl. alternative performance measures) can be found on our corporate website www.draeger.com in our Investor Relations section.