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Drägerwerk: Dividend falls short of expectations

Drägerwerk has exceeded its own targets for 2020. Sales are up 22.6 percent. The prognosis was 14 percent to 22 percent. The EBIT margin is between 11.3 percent and 11.6 percent. Drägerwerk had previously expected 7 percent to 11 percent. In absolute figures, Drägerwerk has sales of EUR 3.41 billion and an EBIT of EUR 385 million to EUR 395 million.

As in the previous year, Drägerwerk plans to distribute a dividend of EUR 0.19 per share in order to strengthen the equity ratio. Here the market started at 0.45 euros. But Drägerwerk wants to achieve an equity ratio of 40 percent again before a higher dividend. In 2020, this decreased from 41.9 percent to 31.0 percent due to the cancellation of participation certificates.

In 2021, sales are expected to fall by 7 to 11 percent after adjusting for currency effects. The special influences due to the pandemic will decrease. An EBIT margin of 5 percent to 8 percent is also expected.

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