Dhe corona crisis has led to some uncertainty on the stock markets. All the more in demand are shares in companies that seem to be among the clear winners. One of them is that of the medical and security technology group Drägerwerk. After the company reported on a pandemic second quarter that went extremely well on Tuesday evening and raised its annual forecast, the share price has so far increased by 10 percent.
Depending on the stock exchange, this increase is spread over Tuesday evening and Wednesday morning. On Tradegate, which only closes at around 10 p.m., the shares were already quoted at EUR 83.30 on the evening before the end of trading, so that the gains on Wednesday are limited. Xetra trading on the Frankfurt Stock Exchange, on the other hand, has to understand the spreads on Wednesday, so the plus there is more than 9 percent.
Drägerwerk predicts an increase in sales of 14 to 20 percent for the current year. The operating margin should be between 7 and 11 percent. So far, the company had only offered the “chance” for a significantly higher level of sales and earnings. Drägerwerk benefits from the high demand in medical technology in the corona pandemic. The company manufactures ventilators, among other things. In security technology, the increasing need for respiratory protection, such as FFP masks, is boosting. In the second quarter, order intake increased by currency-adjusted compared to the same quarter of the previous year, sales by more than a quarter to around 788 million euros. The operating profit of around 102 million euros was significantly better. In the previous year there was a loss of 1.5 million euros.
In order to cope with the great demand, Drägerwerk is currently expanding its capacities. Drägerwerk had obtained fresh money on the capital market at the end of April to finance it. The company, which is listed in the SDax small cap index, plans to publish the detailed figures on August 13.
The private bank Hauck & Aufhäuser left its share rating “Buy” with a target price of 95 euros. Analyst Aliaksandr Halitsa writes that the new earnings target range is well above his and the market’s expectations, and that in the best case the operating profit in the current year could exceed the average forecasts by 79 percent.