March 8 German medical equipment supplier
Draegerwerk said on Wednesday it targeted sales
improvement of between 0 and 3 percent in 2017 as orders on hand
at the start of the new fiscal year are over 4 percent higher
than twelve months before.
The company said it expected an operating profit (earnings
before interest and tax) margin of between 5 and 7 percent for
the fiscal year despite warning that EBIT might be negatively
impacted by restructuring expenses of up to 10 million euros
"We will... continue to work on our innovative strength in
2017 and systematically look for sales opportunities
internationally without losing sight of the costs in the
process," chief executive Stefan Draeger said.
Draegerwerk, which had published preliminary figures in
January, missed its 2016 guidance by posting net sales of 2.52
billion euros, 3.3 percent below the level of 2015 fiscal year.
However, its EBIT margin came in at the higher end of the
forecast range at 5.4 percent.
($1 = 0.9471 euros)
(Reporting by Bartosz Dabrowski; Editing by Georgina Prodhan)