Drägerwerk AG & Co. KGaA (0MT8) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, and thank you for joining our conference call on our financial results for the first three months of 2025. I have with me today Keita Pihlescu, CFO, as well as Tom Fischler and Nikolaus Hammerschmidt, both investor relations. We would like to take you through the results with a presentation that we made available on our webpage this morning. Following the presentation, we will open the floor to your questions. Let's get started on page five with the business highlights. The first quarter is usually the weakest in our fiscal year. Against this background, we deliver robust net sales, slightly positive earnings, and higher operating cash flow. In terms of demand, we delivered the best Q1 since the first quarter of our record-breaking year 2020, when we achieved an order intake of nearly 1.4 billion due to the high demand for ventilators and FFP masks. At around 861 million euro, our order intake in Q125 clearly surpassed the high level of the prior year period. Net sales at 730 million euros almost reached the prior year figure. as in the last couple of quarters in the safety division developed better than the medical division. Despite the seasonal weakness, we achieved a slightly positive EBIT. On the other hand, the EBIT of 0.4 million euros did not reach the much higher prior year figure of 15.1 million euros. In addition to the lower net sales volume, this was due to higher expenses. Regarding the warning letter from the FDA, there has been no relevant change since our last conference call at the end of March. The FDA carried out an inspection of our plant in Andover in the fourth quarter of last year and concluded with zero complaints in the form of 483s. This was a key prerequisite for the warning letter to be lifted. We continue to be in close co...