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SHARE IN FOCUS: Outlook shocks Drägerwerk shareholders – ‘Margin too thin’

Wednesday, 11/24/2021 11:40 AM from

dpa-AFX

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FRANKFURT (dpa-AFX) – The margin outlook from Drägerwerk on Wednesday after the corona boom shocked investors. Looking at the share price, the status of the medical and safety technology provider as a beneficiary of the pandemic is crumbling even further: In early trading, the papers fell below the 60 euro mark to the lowest level since the early phase of the pandemic. This closed a gap in the course from mid-March 2020.

Due to an emerging further cooling of the demand for corona-specific products, Drägerwerk specified the revenue expected for 2022 to three to 3.1 billion euros. However, this was not seen as a major problem in the market, but rather the prospect of profitability. The company sees the operating margin (EBIT) between one and four percent in 2022. According to retailers, the average of market expectations was over six percent.

“After two outstanding years for Dräger, driven by a boom in covid-related products, next year profitability is expected to fall back to the level of 2018 and 2019”, analyzed the expert Eggert Kuls from Warburg Research. This is a negative surprise and a major blow for investors. He sees the need to significantly reduce expectations regarding profit development.

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Further down?

Short-term position in Drägerwerk Vz

Ask: 2,11

Leverage: 4.66

with moderate leverage

Morgan Stanley

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