Europe Movers: Dragerwerk, Pets At Home

Inga Muller
01 Apr, 2025
Frankfurt

Drägerwerk AG traded flat at €51.80 after the provider of protection equipment, gas detection, and analysis systems reported lower sales in 2024.

Net sales dropped to €3.370 billion from €3.373 billion, net profit increased to €124.41 million from €110.43 million, and diluted earnings per share rose to €6.61 from €5.86 a year ago.

The company proposed a dividend of €2.03 per preferred share, compared to €1.80 in 2023, and €1.97 per common share, up from €1.74 a year ago, corresponding to 30.1% of the company’s net profit.

“Dräger intends to continue distributing at least 30% of group net profit in the coming years, provided that the group's equity ratio is at least 40%,” the company said in a release to investors.

Pets At Home Group Plc. plunged 8.5% to 216.40 pence after the UK-based pet products retailer estimated lower earnings in the fiscal 2026.

The underlying profit before tax for fiscal 2025 is expected to be £133 million, in line with previous guidance.

“We expect to finish fiscal 2025 in a net cash position, after having returned £85 million to investors during the year,” the company said in a release to investors.

“Fiscal year 2026 will see capex return to normalized levels of less than £50 million, and we do not expect any non-underlying costs,” the company added in the statement.

Taking into account the demand and costs ratio, Pets At Home estimated group underlying profit before tax to be down from a year ago, to range between £115 million and £125 million in fiscal 2026, compared to £133 million in the previous year.  

The retailer estimated an £18 million impact from the increases in the National Living Wage and National Insurance employer contributions, a £2 million increase from new packaging regulations.

In addition, the company estimated a £10 million impact from rebuilding variable pay and £3 million in additional marketing expenses to increase sales.

Meanwhile, the company said operating expenses in fiscal 2026 are not expected to rise more than 5% because of the management initiatives to reduce costs and productivity enhancement measures.