Draegerwerk shares jumped over 3% after the German medical equipment maker reported a stunning fourth-quarter performance. Operating profit beat analyst expectations by more than 40%, defying headwinds from tariffs and currency fluctuations. The Lübeck-based manufacturer posted preliminary full-year EBIT between €226 million and €236 million.

The company's Medical division, supplying anesthesia and monitoring equipment, was a key driver, posting €674 million in quarterly sales. This 13% growth at constant currencies offset challenges in the Safety division. Kepler Cheuvreux analysts noted the tariff burden alone reached €30 million in 2025, making the profit beat particularly remarkable.

Full-year revenue rose 5.3% to €3.48 billion, with order intake climbing 7.9%. The gross margin expanded to 45.4%, and the EBIT margin landed between 6.5% and 6.8%, exceeding original guidance. For 2026, management projects sales growth of 2-6% and an EBIT margin of 5-7.5%, suggesting continued momentum ahead of full results on March 24.