Slides
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9M Conference Call Drägerwerk AG & Co. KGaA October 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 9M 2025 02 Outlook FY 2025 03 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 2,344million (+3.7% fx-adj.; +2.1% nominal) Higher net sales, slightly lower EBIT, better cash flow 9M 2025 EBIT EUR 77.1 million (EUR -3.0 million) EBIT margin 3.3% (-0.2 pp) Outlook more optimistic due to strong business performance Better operating cash flow: considerable improvement due to higher earnings 9M supported by excellent Q3: Noticeable increase in net sales in 9M; EBIT only slightly lower despite positive one-off-effects in the prior year and headwinds from exchange rates and tariffs High demand for Technology for Life: highest order intake since record 9M 2020; growth driven by both divisions and all regions; major order from Mexico Impressive share performance: Dräger share prices significantly increased after Q3 prelims FY 2025 guidance adjusted: net sales growth and EBIT margin now expected to be in the upper half of the range Highlights 5 Operating cash flow EUR 92.6 million (+EUR 35.4 million)
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02 Financials 9M 2025 6Drägerwerk AG & Co. KGaA
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— 24.4 56.7 Q3'24 Q3'25 80.1 77.1 9M'24 9M'25 775 833 Q3'24 Q3'25 Business development Group 7 Net sales (€ million) EBIT (€ million) • Order entry significantly increased due to good demand in both divisions and all regions. Strong growth in EMEA and Americas. • Net sales clearly above prior-year level. Growth driven by both divisions and all regions. • Gross profit margin increased to 45.1% due to good net sales development. Improvement in medical stronger than in safety. • Functional expenses increased (fx-adj.: 5.7%; nominal: 4.4%), mainly due to positive one-off effects in 9M 2024 1. • EBIT only slightly below prior-year level despite positive one- off effects in the prior year1 and headwinds from exchange rates and tariffs. • Rolling 12-months DVA (EUR 49.1 million) significantly higher. Order entry (€ million) 9M 2024 9M 2025 Change (fx-adj.) Germany 586.7 587.8 +0.2 EMEA 923.6 1,030.4 +11.5 Americas 521.8 591.6 +19.1 APAC 388.5 384.4 +2.9 Total 2,420.5 2,594.1 +9.0 >+100% 3.1% EBIT margin 6.8% EBIT margin +10.1% fx-adj +7.6% nominal 2,295 2,344 9M'24 9M'25 -3.8% 3.5% EBIT margin 3.3% EBIT margin +3.7% fx-adj +2.1% 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. In addition, we sold a building in Spain for around EUR 10 million in the third quarter of 2024..
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— -4.0 11.0 1,285 1,322 9M'24 9M'25 439 471 Q3'24 Q3'25 Business development Medical 8 Net sales (€ million) EBIT (€ million) • Order entry significantly increased, driven by high demand for ventilators and anesthesia machines, services and consumables. Additional boost from multi-year major order from Mexico. Growth driven by all regions. • Net sales clearly above prior-year level due to growth in all regions. • Gross profit margin rose by 1.1pp due to favorable product and country mix, despite negative currency and customs effects. • Functional expenses above prior-year level (fx-adj.: 6.0%; nominal: 4.5%). • EBIT still negative but considerably improved. • Rolling 12-months DVA (EUR -45.2 million) also significantly improved. Order entry (€ million) 9M 2024 9M 2025 Change (fx-adj.) Germany 304.9 318.3 +4.4 EMEA 472.2 527.0 +11.6 Americas 352.2 408.6 +22.3 APAC 239.2 241.6 +4.9 Total 1,368.5 1,495.5 +11.6 >+100% -0.9% EBIT margin 2.3% EBIT margin +10.2% fx-adj +7.3% nominal +19.5% -2.2% EBIT margin -1.7% EBIT margin +4.7% fx-adj +2.9% nominal -22.7-28.1 9M‘259M‘24Q3‘25Q3‘24
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— 336 362 Q3'24 Q3'25 108.3 99.8 9M'24 9M'25 1.010 1.021 9M'24 9M'25 +9.9% fx-adj +7.9% nominal Business development Safety 9 Net sales (€ million) EBIT (€ million) 28.3 45.8 Q3'24 Q3'25 • Order entry clearly increased, driven by gas detection, respiratory and personal protection products, and engineered solutions. Decline in Germany (normalized demand) and APAC overcompensated by significant growth in EMEA and Americas. • Net sales above prior-year level due to growth in all regions. • Gross profit margin slightly improved (+0.2pp) due to better product mix, despite negative currency and customs effects. • Functional expenses up, primarily due base effect and higher marketing expenses (fx-adj.: 5.2%; nominal: 4.2%). • EBIT below prior-year level. • Rolling 12-months DVA (EUR 94.3 million) slightly decreased. Order entry (€ million) 9M 2024 9M 2025 Change (fx-adj.) Germany 281.8 269.4 -4.4 EMEA 451.4 503.4 +11.5 Americas 169.6 183.0 +12.5 APAC 149.3 142.7 -0.3 Total 1,052.1 1,098.6 +5.7 +61.4% 8.4% EBIT margin 12.6% EBIT margin -7.9% 10.7% EBIT margin 9.8% EBIT margin +2.4% fx-adj +1.1% nominal Drägerwerk AG & Co. KGaA
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10Drägerwerk AG & Co. KGaA Key figures 9M 2025 9M 2024 Change € million € million % Cashflow (from operating activities) 92.6 57.2 +61.8 Investments 93.5 78.9 +18.5 Cash and cash equivalents1 188.3 179.8 +4.7 Net financial debt1 221.9 230.6 -3.8 Net financial debt1 / EBITDA2 0.7 0.7 Capital employed 1 1,589.0 1,550.7 +2.5 ROCE (EBIT2/Capital employed1) 12.0% 10.9% Net Working Capital1 721.4 698.5 +3.3 Equity ratio 49.8 47.8 +2.0pp Headcount1 16,684 16,556 +0.8 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 Current forecast for fiscal year 2025 Net sales (net of currency effects) 0.5% 1.0 to 5.0% 3.0 to 5.0% EBIT margin 5.8% 3.5 to 6.5% 4.5 to 6.5% Dräger Value Added (DVA) EUR 54.3 million EUR -30 to 80 million EUR 10 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