LÜBECK (dpa-AFX) - The medical and safety technology group Drägerwerk earned significantly more in the second quarter, mainly thanks to one-off effects. Earnings before interest and taxes (EBIT) more than doubled year-on-year to around 41 million euros, as the company announced in Lübeck on Friday evening on the basis of preliminary figures. The one-off effects included the sale of a non-core part of the company and a piece of land.

The Lübeck-based company's shares initially fell moderately on Monday following the preliminary quarterly figures. By midday, the shares were up 0.4 percent at 53.40 euros. For the current year, the company, which is listed on the SDax, has recorded a price gain of around three percent on the stock exchange.

The analyst firm Warburg Research left its rating for Drägerwerk at "buy" with a target price of EUR 64 after the key figures and thus still sees considerable upside potential. Thanks to the one-off effects, the Group exceeded expectations, wrote analyst Christian Ehmann. However, incoming orders were slightly below his estimate. Overall, the expert sees no reason to adjust his expectations for 2024.

Dräger made up ground in terms of net sales in the second quarter, with revenue rising by 1.7 percent to around EUR 785 million. Good business with safety technology made up for weaknesses in medical technology. Management confirmed the outlook for the current fiscal year and expects a currency-adjusted increase in net sales of 1.0 to 5.0 percent and an operating margin (EBIT) of 2.5 to 5.5 percent.

However, due to the continued weaker development of demand in medical technology, Drägerwerk now expects net sales growth in 2024 to be in the lower half of the forecast range. However, due to the positive one-off effects in current earnings, the Group now also considers an operating margin (EBIT) in the upper half of the forecast range to be more likely. Drägerwerk will publish its full results for the first six months on July 25 /lfi/men/jha/