DGAP-News: Fuchs Petrolub AG / Key word(s): Quarter Results
FUCHS enjoys double-digit growth and gives a positive outlook for the
financial year
05.11.2012 / 07:00
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FUCHS enjoys double-digit growth and gives a positive outlook for the
financial year
- Sales revenues and earnings both enjoy double-digit growth
- Earnings before interest and tax (EBIT) up 12.3% to EUR 224 million
- Positive outlook for the financial year
The first nine months of 2012 at a glance
<pre>
(Amounts in EUR million) 1-9/2012 1-9/2011(2)
Sales revenues (1) 1,379.2 1,239.3
Europe 824.3 761.3
Asia-Pacific, Africa 364.0 305.5
North and South America 244.5 211.4
Consolidation -53.6 -38.9
Earnings before interest and tax (EBIT) 224.2 199.6
Profit after tax 156.9 136.9
Earnings per share in EUR
Ordinary share 2.19 1.91
Preference share 2.21 1.93
Gross cash flow 163.4 147.4
Investments in long-term assets 47.6 24.4
Employees (as at September 30) 3,757 3,679
</pre>
(1) By company location.
(2) The previous year's figures have been adjusted for reasons of
comparability, see 'changes in the accounting policies' in the notes to the
consolidated financial statements.
The FUCHS PETROLUB Group increased its sales revenues in the first nine
months by 11.3% to EUR 1,379.2 million (1,239.3). Higher sales volumes,
increases in sales prices due to higher raw material costs and positive
currency translation effects made a noticeable impact on sales revenues.
This growth in sales revenues also allowed FUCHS PETROLUB to increase its
gross profit by 9.8% or EUR 45.0 million to EUR 503.0 million (458.0) in
the first nine months. Personnel and other direct costs for sales,
administration, research and development increased by EUR 26.8 million or
10.2% to EUR 289.5 million (262.7) within the same period. The rise in
costs is attributable to the effects of growth and inflation.
After inclusion of income from participations, the Group recorded earnings
before interest and tax (EBIT) amounting to EUR 224.2 million (199.6). The
figure recorded in the same period of the previous year was exceeded by
12.3% or EUR 24.6 million. Profit after tax rose by 14.6% or EUR 20.0
million to EUR 156.9 million (136.9).
Earnings per share increased to EUR 2.19 (1.91) per ordinary share and EUR
2.21 (1.93) per preference share.
Capital expenditures
The FUCHS PETROLUB Group invested EUR 47.6 million (24.4) in long-term
assets during the first nine months.
FUCHS PETROLUB invested EUR 37.4 million (23.4) in property, plant and
equipment and intangible assets. Larger projects were the completion of the
new research and development center and the extensions to the production
facilities in Mannheim, construction of the facility in Russia,
modernization of the American production facility in Chicago and fire
protection systems in Great Britain. In addition, the Group invested in two
sites in China.
Employees
As at September 30, 2012, the global workforce of the FUCHS PETROLUB Group
consisted of 3,757 employees. Compared with the 3,673 employees recorded at
the end of the previous year, this represents an increase of 84 people. The
new staff were primarily hired to strengthen the fields of sales and
research and development.
Outlook
Based on the premise that the overall economic situation will not be
subject to significant change in the fourth quarter, FUCHS expects earnings
before interest and tax (EBIT) for the financial year to be around 10% over
the previous year's figure. This prediction is based on the assumption that
raw material costs and sales prices will remain largely stable.
The high capital expenditure of the first nine months is set to continue
over the coming months. Nevertheless, the free cash flow should be above
EUR 100 million.
Mannheim, November 5, 2012
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel.: ++49 (0) 621 3802-1104
E-mail: tina.vogel@fuchs-oil.de
The information below can be accessed at the following web addresses:
Press release:
www.fuchs-oil.com
Interim report as at September 30, 2012:
http://www.fuchs-oil.com/ir_ninemonths.html
Press photos:
http://www.fuchs-oil.com/pressphotos1.html
Important note
This press release contains statements about future developments that are
based on assumptions and estimates by the management of FUCHS PETROLUB AG.
Even if the management is of the opinion that these assumptions and
estimates are accurate, future actual developments and future actual
results may differ significantly from these assumptions and estimates due
to a variety of factors. These factors can include changes in the overall
economic climate, changes to exchange rates and interest rates, and changes
in the lubricants industry. FUCHS PETROLUB AG provides no guarantee that
future developments and the results actually achieved in the future will
match the assumptions and estimates set out in this press release and
assumes no liability for such.
End of Corporate News
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Language: English
Company: Fuchs Petrolub AG
Friesenheimer Str. 17
68169 Mannheim
Germany
Phone: +49 (0)621 / 3802-0
Fax: +49 (0)621 / 3802-7190
E-mail: ir@fuchs-oil.de
Internet: www.fuchs-oil.de
ISIN: DE0005790430, DE0005790406
WKN: 579043, 579040
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
End of News DGAP News-Service
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191372 05.11.2012
DGAP-News: FUCHS enjoys double-digit growth and gives a positive outlook for the financial year
| Source: EQS Group AG