The medical and safety technology company Drägerwerk was able to more than double its earnings before interest and taxes (EBIT) in the second quarter of 2024 due to one-time effects. As the Lübeck-based company announced on Friday evening based on preliminary figures, EBIT increased by approximately 41 million euros compared to the same period last year.

Among the one-time effects were the sale of a non-core business unit and a piece of real estate. These sales significantly contributed to the increased profit.

Drägerwerk was also able to increase its revenue, achieving earnings of around 785 million euros in the second quarter, representing a 1.7 percent increase compared to the previous year. While the safety technology business flourished and compensated for weaknesses in medical technology, management expressed satisfaction and confirmed the annual forecast.

After the release of preliminary figures, Dräger stock initially rose by 2.2 percent on the Tradegate platform compared to the Xetra close. However, in later trading, the stock turned negative and lost 2.23 percent to 52.50 euros.

Drägerwerk plans to present detailed quarterly figures on July 25. Until then, it remains to be seen whether the company can continue the positive trends and how market conditions will develop further.