Dräger with good order development, record net sales and significant increase in net profit in fiscal year 2025 – third dividend increase in a row

• Order intake exceeds the prior year's high level
• Record net sales thanks to growth in both divisions and all regions
• EBIT up by around 20 percent despite difficult conditions
• Higher dividend for 2025: EUR 2.21 per common share (2024: EUR 1.97) and EUR 2.27 per preferred share (2024: EUR 2.03)

Lübeck – Drägerwerk AG & Co. KGaA further increased its order intake in fiscal year 2025 thanks to strong demand. At around EUR 3,569 million, order intake exceeded the prior year's high figure by around EUR 189 million (2024: EUR 3,380.5 million). Net sales rose by EUR 111 million to a record figure of around EUR 3,482 million (2024: EUR 3,370.9 million). Earnings before interest and taxes (EBIT) increased by around EUR 39 million to over EUR 233 million (2024: EUR 194.0 million), despite the absence of the positive one-off effects from the prior year and the negative impact of tariff and currency effects on EBIT in 2025. The EBIT margin improved to 6.7 percent (2024: 5.8 percent).

“In 2025, we continued our successful course and generated the highest net sales in our Company's history. Despite the adverse environment, we also improved our earnings. Our goal remains to further increase profitability,” says Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG.

Good order development
In the 2025 fiscal year, the Group's order intake increased by 7.7 percent (net of currency effects) to EUR 3,569.4 million (2024: EUR 3,380.5 million). This was due to good demand in both divisions.

In the medical division, order intake rose by 8.9 percent (net of currency effects) to EUR 2,046.6 million (2024: EUR 1,924.1 million). The main driver was the high demand for our anesthesia machines, ventilators, services and consumables. We also received a major multi-year order for hospital infrastructure systems from Mexico.

The safety division continued its order growth. Order intake increased by 6.1 percent (net of currency effects) to EUR 1,522.8 million (2024: EUR 1,456.4 million). The biggest drivers were engineered solutions and gas detection. Demand for respiratory and personal protection products as well as alcohol and drug testing devices also increased.

Net sales growth in both divisions and all regions
Group net sales rose by 5.3 percent (net of currency effects) to EUR 3,481.9 million in the 2025 fiscal year (2024: EUR 3,370.9 million). Both divisions recorded growth: the medical division grew by 7.4 percent (net of currency effects) to EUR 1,995.6 million (2024: EUR 1,899.7 million), while the safety division increased its net sales by 2.6 percent (net of currency effects) to EUR 1,486.3 million (2024: EUR 1,471.2 million). All regions contributed to growth at Group level.

Significant increase in earnings despite strong headwinds
The gross margin increased by 0.3 percentage points to 45.2 percent in the 2025 fiscal year (2024: 44.9 percent). The improvement in the medical division was stronger than in the safety division.

Our EBIT increased significantly by 20.3 percent to EUR 233.4 million (2024: EUR 194.0 million). The EBIT margin increased by 0.9 percentage points to 6.7 percent (2024: 5.8 percent). The main reasons for this positive development were the high order and sales momentum, the improved gross margin and the strong year-end business. This was offset by a negative impact on earnings of around EUR 25.5 million due to US import tariffs. In addition, EBIT was impacted by currency effects of around EUR 45 million.

Business development in the fourth quarter
In the fourth quarter, order intake increased by 4.3 percent (net of currency effects) to EUR 975.3 million (Q4 2024: EUR 960.0 million). The medical division recorded growth of 2.2 percent (net of currency effects) to EUR 551.1 million (Q4 2024: EUR 555.6 million). In the safety division, order intake increased by 7.2 percent (net of currency effects) to EUR 424.2 million (Q4 2024: EUR 404.3 million).

Dräger's net sales rose by 8.7 percent (net of currency effects) to EUR 1,138.4 million (Q4 2024: EUR 1,075.8 million). Both divisions and all regions grew. At 45.5 percent, however, the gross margin was below the prior year's level (Q4 2024: 45.9 percent). EBIT increased by a very significant 37.2 percent to EUR 156.3 million (Q4 2024: EUR 113.9 million). The EBIT margin also rose significantly by 3.1 percentage points to 13.7 percent (Q4 2024: 10.6 percent).

Significant dividend increase
The Executive Board and Supervisory Board intend to propose a dividend of EUR 2.21 per common share for 2025 (2024: EUR 1.97) and EUR 2.27 per preferred share (2024: EUR 2.03) to the annual shareholders’ meeting. This would correspond to a payout of 30.1 percent of net profit. In accordance with its dividend policy, Dräger intends to continue distributing at least 30 percent of net profit in the coming years, provided that the equity ratio is at least 40 percent. As at December 31, 2025, this was 51.5 percent (December 31, 2024: 49.7 percent).

Forecast for 2026
Due to the good order intake, Dräger expects net sales to increase by 1.0 to 5.0 percent (2.0 to 6.0 percent net of currency effects) and an EBIT margin of 5.0 to 7.5 percent in the current fiscal year.

Further information is available in the financial report at www.draeger.com.

Disclaimer
This press release contains statements on the future development of Dräger Group. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information available to date. They were compiled to the best of the company’s knowledge. Dräger does not provide any warranty nor assume any responsibility for the future developments and results described above. These are dependent on a number of factors. They entail various risks and contingencies outside of the company’s influence and are based on assumptions which could prove to be incorrect. Dräger does not assume any responsibility for updating the forward-looking statements contained in this report. This does not infringe any legal stipulations on the adjustment of forecasts. Information on the financial indicators used (incl. alternative performance measures) can be found on our corporate website www.draeger.com in our Investor Relations section.