Slides
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H1 Conference Call Drägerwerk AG & Co. KGaA July 29, 2025, Lübeck
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— This presentation does not constitute an offer of securities for sale or a solicitation of an offer to purchase any securities. No money, securities or other consideration is being solicited by this presentation. This presentation contains forward-looking statements regarding the future development of the 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 it to date, and have been made to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors; they entail risks and uncertainties beyond our control and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, we assume no obligation to update the forward-looking statements contained in this presentation. Interim financial reports and preliminaries are not audited. Drägerwerk AG & Co. KGaA Disclaimer 22
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— Agenda 3 Dräger Business Highlights01 Financials H1 202502 Outlook FY 202503 3 — Drägerwerk AG & Co. KGaA
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01 Dräger Business Highlights 4Drägerwerk AG & Co. KGaA
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Drägerwerk AG & Co. KGaA Net sales EUR 1,510 million (+0.4% fx-adj.; -0.7% nominal) Stable net sales, positive earnings, better cash flow H1 2025 EBIT EUR 20.4 million (EUR -35.4 million) EBIT margin 1.3% (-2.3 pp) Good order intake paves the way to annual forecast Better operating cash flow: considerable improvement despite lower earnings High demand for Technology for Life: highest order intake since record H1 2020; growth driven by both divisions and all regions; major order from Mexico Solid business performance: Stable net sales and positive earnings; EBIT below prior-year level, mainly due to base effects Good share performance: Dräger share prices significantly increased; admission of preferred shares to the TecDAX FY 2025 guidance confirmed: good order intake should boost net sales in H2; additional push from typical seasonality expected Highlights 5 Operating cash flow EUR 17.8 million (+EUR 23.3 million)
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02 Financials H1 2025 6Drägerwerk AG & Co. KGaA
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— 55.8 20.4 6M'24 6M'25 785 780 Q2'24 Q2'25 Business development Group 7 Net sales (€ million) EBIT (€ million) • Order entry significantly increased due to good demand in both divisions and all regions. Very strong growth in Americas region. • Net sales slightly above prior-year level. Significant growth in APAC and noticeable increase in Germany offset by decline in EMEA and Americas. • Gross profit margin remained stable at 44.8% despite substantial headwinds from tariffs and FX. • Functional expenses increased (fx-adj.: 6.1%; nominal: 5.2%), mainly due to base effect (positive one-off effects in H1 2024). • EBIT positive but below prior-year level, especially due to base effect*. • Rolling 12-months DVA (EUR 17.1 million) significantly lower. 40.7 20.0 Q2'24 Q2'25 Order entry (€ million) 6M 2024 6M 2025 Change (fx-adj.) Germany 385.7 388.0 +0.6 EMEA 613.7 677.5 +10.1 Americas 349.5 411.2 +24.7 APAC 255.5 261.3 +4.7 Total 1,604.3 1,738.0 +10.1 -51.0% 5.2% EBIT margin 2.6% EBIT margin +1.8% fx-adj -0.6% nominal 1,520 1,510 6M'24 6M'25 -63.5% 3.7% EBIT margin 1.3% EBIT margin +0.4% fx-adj -0.7% nominal Drägerwerk AG & Co. KGaA 1 In the second quarter of 2024, we sold a non-core local business area in the Netherlands and a property in the USA for a total of around EUR 20 million.
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— 846 851 6M'24 6M'25 429 438 Q2'24 Q2'25 Business development Medical 8 Net sales (€ million) EBIT (€ million) • Order entry increased substantially, driven by high demand for ventilators, anesthesia machines, services, and consumables. Additional boost from multi-year major order from Mexico. Growth driven by all regions. • Net sales slightly above prior-year level. Strong growth in APAC and positive momentum in Germany more than compensates decline in other regions. • Gross profit margin rose by +0.2pp due to favorable country mix. • Functional expenses above prior-year level (fx-adj.: 5.1%; nominal: 4.0%). • EBIT significantly below prior-year level. • Rolling 12-months DVA (EUR -59.9 million) improved.-12.9 -5.9 Order entry (€ million) 6M 2024 6M 2025 Change (fx-adj.) Germany 201.0 212.6 +5.8 EMEA 307.7 339.5 +10.0 Americas 235.6 290.6 +31.7 APAC 155.7 168.1 +10.3 Total 900.1 1,010.8 +14.8 +54.3% -3.0% EBIT margin -1.4% EBIT margin +5.0% fx-adj +2.1% nominal -39.3% -2.9% EBIT margin -4.0% EBIT margin +1.8% fx-adj +0.6% nominal -33.7-24.2 6M‘256M‘24Q2‘25Q2‘24
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— 356 342 Q2'24 Q2'25 79.9 54.0 6M'24 6M'25 674 659 6M'24 6M'25 -2.0% fx-adj -3.9% nominal Business development Safety 9 Net sales (€ million) EBIT (€ million) 53.7 25.9 Q2'24 Q2'25 • Order entry increased, driven by engineered solutions, respiratory and personal protection products, and gas detection. Decline in Germany (normalized demand) and APAC overcompensated by significant growth in EMEA and Americas. • Net sales slightly below prior-year level. Decline in EMEA and Americas stronger than growth in Germany and APAC. • Gross profit margin also slightly down (-0.2pp), particularly due to negative currency effects and tariffs. • Functional expenses up, primarily due base effect and higher marketing expenses (fx-adj.: 7.8%; nominal: 7.1%). • EBIT significantly below prior-year level. • Rolling 12-months DVA (EUR 76.9 million) also significantly down. Order entry (€ million) 6M 2024 6M 2025 Change (fx-adj.) Germany 184.6 175.4 -5.0 EMEA 306.0 338.0 +10.3 Americas 113.9 120.6 +10.1 APAC 99.8 93.2 -4.0 Total 704.3 727.2 +4.2 -51.8% 15.1% EBIT margin 7.6% EBIT margin -32.4% 11.9% EBIT margin 8.2% EBIT margin -1.4% fx-adj -2.2% nominal Drägerwerk AG & Co. KGaA
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10Drägerwerk AG & Co. KGaA Key figures 6M 2025 6M 2024 Change € million € million % Cashflow (from operating activities) 17.8 -5.5 >+100 Investments 61.9 52.6 +17.7 Cash and cash equivalents1 177.4 190.7 -7.0 Net financial debt1 269.1 272.5 -1.3 Net financial debt1 / EBITDA2 0.9 0.9 Capital employed 1 1,594.2 1,600.4 -0.4 ROCE (EBIT2/Capital employed1) 9.9% 10.9% Net Working Capital1 738.9 739.1 -0.0 Equity ratio 49.1 47.6 +1.5pp Headcount1 16,609 16,390 +1.3 1 Values as of reporting date | 2 EBITDA and accordingly EBIT of the last twelve months
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03 Outlook FY 2025 11Drägerwerk AG & Co. KGaA
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12 Outlook Results achieved in fiscal year 2024 Forecast for fiscal year 2025 Net sales (net of currency effects) 0.5% 1.0 to 5.0% EBIT margin 5.8% 3.5 to 6.5% Dräger Value Added (DVA) EUR 54.3 million EUR -30 to 80 million Drägerwerk AG & Co. KGaA
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Questions & Answers Drägerwerk AG & Co. KGaA 1313Drägerwerk AG & Co. KGaA
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14 Financial calendar Dräger publishes preliminary results approximately 2 weeks before the dates of the quarterly reports. Preliminary results for the full year are published in January. March 31, 2025 Annual Report 2024 Conference call April 30, 2025 Report for the first three months 2025 Conference call May 9, 2025 Annual shareholders‘ meeting 2025 Lübeck, Germany July 29, 2025 Report for the first six months 2025 Conference call October 29, 2025 Report for the first nine months 2025 Conference call 14Drägerwerk AG & Co. KGaA
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Thomas Fischler Head of Treasury & Investor Relations Moislinger Alle 53-55 23558 Lübeck, Germany Tel. +49 451 882 2685 Mail: thomas.fischler@draeger.com Thank you 15 Nikolaus Hammerschmidt Investor Relations Manager Moislinger Alle 53-55 23558 Lübeck, Germany Tel. +49 451 882 8903 Mail: nikolaus.hammerschmidt@draeger.com Drägerwerk AG & Co. KGaA