DGAP-News: Fuchs Petrolub AG / Key word(s): Interim Report
FUCHS increases EBIT to EUR 73.4 million and confirms outlook for the
financial year
02.05.2013 / 07:00
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FUCHS increases EBIT to EUR 73.4 million and confirms outlook for the
financial year
- Sales revenues just below the previous year's level due to currency
effects
- Moderate increase in earnings before interest and tax (EBIT)
- Outlook for the financial year confirmed
The first three months of 2013 at a glance
<pre>
(Amounts in EUR million) 1-3/2013 1-3/2012
Sales revenues (1) 442.0 448.4
Europe 265.3 263.5
Asia-Pacific, Africa 117.7 118.9
North and South America 75.6 79.8
Consolidation -16.6 -13.8
Earnings before interest and tax (EBIT) 73.4 72.5
Profit after tax (2) 51.6 51.4
Earnings per share in EUR
Ordinary share 0.72 0.72
Preference share 0.73 0.73
Gross cash flow 52.6 53.3
Investments in long-term assets (3) 14.2 22.3
Employees (as at March 31) 3,795 3,722
</pre>
(1) By company location
(2) Previous year's figure adjusted, see 'Application of new accounting
standards' in the notes to the consolidated financial statements
(3) Intangible assets, property, plant and equipment, and financial assets
In the first quarter of 2013, the FUCHS PETROLUB Group confirmed its
earnings targets for the financial year with an increase in earnings before
interest and tax (EBIT). At the same time, sales revenues recorded a slight
decrease due to currency effects. The organic growth planned for the
financial year was not yet achieved in the first quarter due to weaker
development in the US. In the first three months of the current financial
year, the Group generated sales revenues of EUR 442.0 million, which were
1.4% below the level for the same period in the previous year (448.4).
FUCHS PETROLUB was able to increase its gross profit by EUR 3.7 million or
2.3% to EUR 165.6 million (161.9) in the first quarter of 2013. After
taking into account other expenses, FUCHS recorded an EBIT of EUR 73.4
million. This is 1.2% more than in the first quarter of the previous year
(72.5). Earnings after interest and taxes increased slightly to EUR 51.6
million (51.4).
Earnings per share are EUR 0.72 (0.72) per ordinary share and EUR 0.73
(0.73) per preference share.
Capital expenditures
The FUCHS PETROLUB Group invested EUR 14.2 million (22.3) in long-term
assets in the first three months of the current financial year. These
investments focused on the two new facilities currently under construction
in Russia and China, as well as the expansion and modernization of the US
facility.
Employees
As at March 31, 2013, the global workforce of the FUCHS PETROLUB Group
consisted of 3,795 employees. Compared with December 31, 2012, this
represents an increase of 22 people. The new staff were primarily hired at
companies in Asia-Pacific, Africa.
Outlook
FUCHS PETROLUB expects business operations to improve slightly in the next
three quarters compared to the first quarter of 2013. The first quarter of
a year is generally somewhat weaker than the two middle quarters. FUCHS is
therefore maintaining its target for the financial year of achieving
organic growth in sales revenues in the low single-digit percentage range.
However, it remains to be seen how currency exchange rates will develop.
Based on the aforementioned assumptions, which predict that the overall
economic situation will not change considerably, FUCHS still expects to
record an increase in earnings before interest and tax (EBIT) for 2013.
Capital expenditure has developed in line with expectations and is likely
to remain at a similar level in the subsequent quarters.
Mannheim, May 2, 2013
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Germany
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 March 31, 2013:
http://www.fuchs-oil.com/ir_firstquarter.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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209268 02.05.2013
DGAP-News: FUCHS increases EBIT to EUR 73.4 million and confirms outlook for the financial year
| Source: EQS Group AG