In the context of the COVID-19 pandemic, Dräger's net sales and EBIT development are considerably above the prior year.

Based on preliminary figures for the second quarter, Dräger recorded a year-on-year growth in order intake of 36.3 percent (net of currency effects; nominal: 33.6 percent). Net sales increased by 26.5 percent (net of currency effects; nominal: 24.3 percent) to around EUR 788.4 million (Q2 2019: EUR 634.3 million). EBIT for the second quarter stood at around EUR 102 million, considerably above the level of the prior year (Q2 2019: EUR -1.5 million). The higher earnings were caused by considerably higher net sales volume and a higher gross profit margin of around 49.2 percent (Q2 2019: 42.6 percent).

In the first six months of 2020, order intake increased by 75.7 percent year-on-year (net of currency effects; nominal: 73.5 percent). Due to the COVID-19 pandemic, demand in the medical division was exceptionally strong. In the safety division, demand for light breathing protection (e.g. FFP masks) was considerably above the prior year. Group net sales increased by 17.1 percent (net of currency effects; nominal: 15.6 percent) to around EUR 1,428.4 million (6 months 2019: EUR 1,235.9 million). Total EBIT stood at approximately EUR 102 million (6 months 2019: EUR -12.2 million).

Considering the high demand due to the COVID-19 pandemic, Dräger expects full year net sales and EBIT to be considerably above both the prior year and the original guidance. Dräger expects net sales growth for fiscal year 2020 to be between 14 percent and 22 percent (net of currency effects). The expectation for the EBIT margin is between 7.0 percent and 11.0 percent.

Dräger will publish its full results for the first six months of the fiscal year on August 13, 2020.