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Dräger settles down in Spain: 10% drop in 2021 after COVID-19 spike

Globally, Dräger posted a 22.5% rise in turnover in 2020 compared with the previous year to $4.1 billion (€3.4 billion). The medical technology segment saw an increase in orders of 48.6%, while in the security technology segment the increase was 23.3%. The group already estimated that it would not be easy to repeat “the extraordinary results achieved in 2020 in this fiscal year.”

Anne Kings

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After a year in which Dräger, the company specializing in medical technology and security in Iberia increased its turnover by 40% compared to the previous year, to $135 million (€111.5 million), the subsidiary in Iberia estimates a drop in sales for 2021.

The company expects a 10% drop in turnover in 2021 compared to 2020, to $121 million (€100 million), according to Dionisio Martínez, Dräger’s general manager in Iberia. Martínez assured that the drop is due to the fact that “the need for respirators and medical equipment is not the same”, although he also points out that estimates may vary, as was the case in the previous year.

The group even tripled its production capacity in 2020 and the general manager in Iberia studied the possibility of having a mask factory in Spain. Martínez proposed it to the authorities in July 2020 and is currently “analyzing whether to continue pushing for such a factory.”

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A decision is expected in 2021. Dräger is studying the start-up of a mask factory in Spain

In Iberia, Dräger receives the supply of material from Germany, the group’s country of origin, but the general manager in Spain and Portugal assured that “if I am able to bring part of this technology, as a Spanish citizen I will be delighted.”

In addition, Martínez considers that the mask factory would be the “spearhead for developing different technologies in the country.” On the other hand, Dräger’s subsidiary in Spain and Portugal, together with 17 other entities including authorities, autonomous communities, and public and private hospitals, has applied for European funds for a project to improve data management in intensive care units.

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The amount sought for this project is $108.9 million (€90 million). Martínez remarked that the group’s investment in Iberia will depend on the progress of the company’s projects. In relation to the pandemic, Dräger’s general manager in Spain and Portugal points out that its current intention is to help the health authorities to face Covid-19.

Dräger in Spain and Portugal, together with 17 other entities, is seeking ninety million euros of European funds

In the medium and long term, Martínez points out that his objective is “to contribute our knowledge to be able to develop the health system for the next generations, help to weave the Spanish industrial sector and continue creating employment.”

Despite the forecast drop in turnover, Dräger in Iberia is maintaining its upward trend and estimates a turnover in 2021 of $24.2 million (€20 million) more than in 2019. The subsidiary has been in Spain for 45 years out of the group’s 130-year history and has 374 employees in Spain and Portugal.

Globally, Dräger posted a 22.5% rise in turnover in 2020 compared with the previous year to $4.1 billion (€3.4 billion). The medical technology segment saw an increase in orders of 48.6%, while in the security technology segment the increase was 23.3%. The group already estimated that it would not be easy to repeat “the extraordinary results achieved in 2020 in this fiscal year.”

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(Featured image by coyot via Pixabay)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Anne Kings is a reporter for the financial sector, often tackling Wall Street and shareholders' interests. She also covers the intersection of media and technology, and delves into interesting topics on entertainment. Sometimes she also writes about the cannabis industry, in particular CBD and hemp. She is currently based in New York.

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