Drägerwerk AG & Co KGaA (OTCPK:DGWPF) Full Year 2024 Earnings Conference Call March 31, 2025 9:00 AM ET
Company Participants
Stefan Dräger – Chief Executive Officer
Gert-Hartwig Lescow – Chief Financial Officer
Conference Call Participants
Oliver Reinberg – Kepler Cheuvreux
Christian Ehmann – Warburg Research
Alexander Galitsa – HAIB
Harald Hof – mwb research
Virendra Chauhan – AlphaValue
Operator
Ladies and gentlemen, welcome to the Drägerwerk’s Full Year 2024 Earnings Conference Call. I’m Sandra, the Chorus Call operator. I would like to remind you that all participants have been in listen-only and the conference is being recorded. The presentation will be followed by a Q&A session. [Operator Instructions] The conference must not be recorded for publication or broadcast.
At this time it’s my pleasure to hand over to Stefan Dräger, CEO. Please go ahead, sir.
Stefan Dräger
Yes, Good afternoon and thank you for joining our conference call on our financial results for the fiscal year 2024. I have with me today Gert-Hartwig Lescow, CFO; as well as Tom Fischler and Nikolaus Hammerschmidt, both Investor Relations. We would like to take you through the results for the presentation that we made available on our webpage this morning. Following the presentation, we will open the floor to your questions.
Let’s get started on Page 5 with the business highlights. 2024 was a successful year for Dräger with a robust business performance and a significant improvement in profitability. While net sales were slightly below our expectations, we maintained a strong performance achieving around €3.4 billion matching the prior year’s figure. This is an outstanding achievement considering that we benefited from strong catch up effects in 2023 driven by the improved delivery capabilities and a surge in demand for ventilators in China.
And importantly, although business in China fell in 2024 by almost half
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