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Draegerwerk sees 2017 sales growth on promising start of new year
March 8, 2017 / 8:50 AM / 9 months ago

Draegerwerk sees 2017 sales growth on promising start of new year

March 8 (Reuters) - German medical equipment supplier Draegerwerk said on Wednesday it targeted sales improvement of between 0 and 3 percent in 2017 as orders on hand at the start of the new fiscal year are over 4 percent higher than twelve months before.

The company said it expected an operating profit (earnings before interest and tax) margin of between 5 and 7 percent for the fiscal year despite warning that EBIT might be negatively impacted by restructuring expenses of up to 10 million euros ($11 million).

“We will... continue to work on our innovative strength in 2017 and systematically look for sales opportunities internationally without losing sight of the costs in the process,” chief executive Stefan Draeger said.

Draegerwerk, which had published preliminary figures in January, missed its 2016 guidance by posting net sales of 2.52 billion euros, 3.3 percent below the level of 2015 fiscal year. However, its EBIT margin came in at the higher end of the forecast range at 5.4 percent. ($1 = 0.9471 euros) (Reporting by Bartosz Dabrowski; Editing by Georgina Prodhan)

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