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Draeger's upswing continues
Q3/2001 once more with definite sales and earnings gains Safety Technology strong Medical Technology reaping restructuring benefits
Luebeck, Germany (ots) - With 9-month sales and earnings buoyant, Luebeck-based Draegerwerk AG is progressing well along the turnaround road leading to its back-to-the-black destination for 2001.
As announced by this Medical & Safety Technology Group, consolidated three-quarter sales advanced by 13.6 percent to Euros 825.6 million (up from Euros 726.9 million). At 18 percent, non-German sales outpaced domestic gains (up 4 percent). Accounting for around 70 percent, foreign business reached a new record.
The nine-eleven events in the United States have so far barely impacted on Draeger's own business, with hardly any fallout on Medical Technology as of mid-October. On the contrary, gas detection instruments and personal protection equipment (both Safety Technology) have been in somewhat stronger demand. Given the uncertainties in civil aviation, Draeger Aerospace, the smallest of the divisions, does not anticipate any growth rates in 2002.
At present, order inflow throughout the Group is around 10 percent up over 2000.
With both of the premier divisions showing sales growth and the cost-pruning program already in place, the Draeger Group's 9-month earnings are altogether a definite improvement over the year-earlier period. Draeger Safety, in particular, upped its already good performance to develop into an important earnings generator throughout the Group. Draeger Medical's restructuring program, initiated in 2000, has been making good progress and helping significantly to sharpen the competitive edge. In fact, Medical Technology's restructuring drive is expected to deliver further earnings gains in the final quarter of 2001.
ots Original Text Service: Draegerwerk Aktiengesellschaft Internet: www.newsaktuell.ch
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