DGAP-Adhoc: Drägerwerk AG & Co. KGaA: preliminary result for 2015 and change of dividend policy

Drägerwerk AG & Co. KGaA  / Key word(s): Preliminary Results/Dividend

02.02.2016 18:32

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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Ad hoc report in accordance with Sec. 15 of the German Securities Trading
Act

Drägerwerk AG & Co. KGaA: preliminary result for 2015 and change of
dividend policy

Drägerwerk announces its preliminary, unaudited figures for fiscal year
2015. Net sales rose by 7.2 percent (net of currency effects: 2.9 percent)
to EUR 2.61 billion (2014: EUR 2.43 billion). EBIT is expected to have
totaled approximately EUR 67 million (2014: EUR 179 million) in 2015,
equating to an EBIT margin of 2.6 percent (2014: 7.3 percent). Changes in
exchange rates had a negative effect on EBIT over the course of the year.
Net sales growth and the EBIT margin for full-year 2015 were within
Dräger's most recently forecast range.

The fourth quarter was once again characterized by positive net sales
development. Net sales rose by 7.2 percent (net of currency effects: + 4.4
percent) to EUR 825 million (Q4 2014: EUR 770 million). Dräger recorded
strong end-of-the-year business in Germany and the regions Asia/Pacific and
Middle East, Africa & Others in particular. In the fourth quarter, EBIT
fell by around 32 percent to approximately EUR 66 million (Q4 2014: EUR 97
million).

Order intake in the fourth quarter declined by 5.2 percent (net of currency
effects: - 6.9 percent) and was unable to keep up with the positive
development of net sales, resulting in a year-on-year decrease in orders on
hand of approximately EUR 70 million as of the end of the year. Dräger
accordingly expects subdued net sales development in the first quarter of
2016.

Net profit contains restructuring expenses for the ongoing efficiency
program "Fit for Growth" of EUR 35 million, EUR 30 million of which were
recognized in the P&L in the fourth quarter, EUR 21 million thereof for
personnel measures in Germany. In 2016 and 2017 Dräger expects further
restructuring expenses of approximately EUR 10 million p.a.

On account of the disappointing earnings development and ongoing
restructuring, Dräger has decided to adjust its dividend policy and retain
the generated earnings to the greatest extent. As a result, the
shareholders are also making a contribution to the restructuring and to
overcoming the company's tense economic situation.

Dräger will therefore propose a dividend of EUR 0.13 per common share and
EUR 0.19 per preferred share to the annual shareholders' meeting on April
27.

Dräger will not make any decisions on the future policy of how to use
earnings until earnings development has significantly improved and
stabilized. The company plans to make use of share buybacks for the
appropriation of earnings in the future.

Dräger will publish a forecast, details on the ongoing efficiency program
and the full, audited results for fiscal year 2015 on March 9, 2016.

Drägerwerk AG & Co. KGaA 
Moislinger Allee 53-55 
23558 Lübeck, Deutschland 
www.draeger.com

Investor Relations:
Thomas Fischler
Tel. +49 451 882-2685 
thomas.fischler@draeger.com

Corporate Communications:
Melanie Kamann
Tel. +49 451 882-3998
melanie.kamann@draeger.com

Disclaimer
Diese Mitteilung enthält Aussagen über die zukünftige Entwicklung des
Dräger-Konzerns. Diese zukunftsbezogenen Aussagen basieren auf den
gegenwärtigen Erwartungen, Vermutungen und Prognosen des Vorstands sowie
den ihm derzeit verfügbaren Informationen und sind nach bestem Wissen und
Gewissen zusammengestellt worden. Hinsichtlich solcher zukunftsbezogenen
Aussagen kann keine Garantie und keine Haftung für den Eintritt der
genannten zukünftigen Entwicklungen und Ergebnisse übernommen werden. Die
zukünftigen Entwicklungen und Ergebnisse sind vielmehr abhängig von einer
Vielzahl von Faktoren. Sie beinhalten Risiken und Unwägbarkeiten, die sich
dem Einfluss des Unternehmens entziehen und beruhen auf Annahmen, die sich
möglicherweise als nicht zutreffend erweisen. Unbeschadet rechtlicher
Bestimmungen zur Korrektur von Prognosen übernehmen wir keine
Verpflichtung, die in dieser Meldung gemachten zukunftsbezogenen Aussagen
zu aktualisieren. Alle wichtigen Finanztermine entnehmen Sie bitte unserer
Unternehmenswebseite www.draeger.com unter Investoren / Finanzkalender.


02.02.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Drägerwerk AG & Co. KGaA
              Moislinger Allee 53-55
              23542 Lübeck
              Germany
Phone:        +49 (0)451 882-0
Fax:          +49 (0)451 882-2080
E-mail:       info@draeger.com
Internet:     www.draeger.com
ISIN:         DE0005550602, DE 000 555 063 6, DE 000 555 065 1, DE 000 555
              067 7, DE 000 555 071 9
WKN:          555060, 555063 Vorzüge, 555065 Genussschein A, 555067
Genussschein K, 555071 Genussschein D 
Indices:      TecDAX
Listed:       Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
              Standard), Hamburg, Hanover, Munich; Regulated Unofficial
              Market in Stuttgart
 
End of Announcement                             DGAP News-Service
 
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