DGAP-News: FUCHS PETROLUB SE / Key word(s): Interim Report
FUCHS increases EBIT and confirms outlook for the financial year
04.11.2013 / 07:00
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FUCHS increases EBIT and confirms outlook for the financial year
- Organic sales growth offset by currency translation effects
- Earnings before interest and tax (EBIT) up 5.8% to EUR 237.2 million
- Outlook for the financial year confirmed
The first nine months of 2013 at a glance
<pre>
(Amounts in EUR million) 1-9/2013 1-9/2012
Sales revenues (1) 1,379.0 1,379.2
Europe 833.3 824.3
Asia-Pacific, Africa 366.4 364.0
North and South America 235.0 244.5
Consolidation -55.7 -53.6
Earnings before interest and tax (EBIT) 237.2 224.2
Earnings after tax (2) 165.6 156.7
Earnings per share in EUR
Ordinary share 2.32 2.19
Preference share 2.34 2.21
Gross cash flow 167.7 163.4
Investments in long-term assets (3) 51.2 47.6
Employees (as at September 30) 3,874 3,757
</pre>
(1) By company location
(2) Previous year's figures 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
The FUCHS PETROLUB Group recorded organic growth in sales revenues of 2.9%
in the first nine months of 2013. However, currency translation effects of
almost the same value were offset by the positive volume growth and changes
in product mix. At EUR 1,379.0 million, the Group recorded sales revenues
at the previous year's level (1,379.2).
At the same time, FUCHS PETROLUB generated earnings before interest and tax
(EBIT) of EUR 237.2 million (224.2). This represents an increase over the
previous year of EUR 13.0 million or 5.8%. Earnings after tax rose by 5.7%
or EUR 8.9 million to EUR 165.6 million (156.7).
Earnings per share therefore increased to EUR 2.32 (2.19) per ordinary
share and EUR 2.34 (2.21) per preference share.
Capital expenditures
FUCHS PETROLUB is consistently pushing ahead with its program of increased
investments in growth markets. In the first nine months of the current
financial year, the Group invested EUR 51.2 million (47.6).
More than half of the investments were dedicated to the modernization and
extension of our US production site in Chicago, as well as the new
facilities in China and Russia. The Russian plant in Kaluga was inaugurated
in September. The opening ceremony of the Chinese facility in Yingkou was
held on October 28. The modernization of the plant in Chicago is also
scheduled for completion in 2013.
In addition to this, the former sales partner FUCHS OFF SHORE LUBRICANTS AS
in Bergen, Norway was acquired in the third quarter. This company supplies
industrial customers, operating primarily in the offshore industry, and
currently generates sales revenues in the low single-digit millions.
Employees
As at September 30, 2013, the global workforce of the FUCHS PETROLUB Group
comprised 3,874 employees (3,757), an increase of 117 people. Most of the
new staff members were recruited in China, Brazil, Germany and Russia
especially in the areas of sales as well as research and development.
Outlook
FUCHS PETROLUB expects business in the remaining months to develop similar
to the first nine months of the year and confirms its target of achieving
organic growth in sales revenues in the low single-digit percentage range
for the financial year. The development of exchange rates could offset this
growth.
FUCHS continues to expect an increase in EBIT. It may be difficult to
continue the dynamics observed in the first nine months of the year, not
least due to exchange rate movements.
FUCHS expects its capital expenditures to at least reach the same level as
in the previous year.
Mannheim, November 4, 2013
FUCHS PETROLUB SE
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 September 30, 2013:
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 SE.
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 SE 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 SE
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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237303 04.11.2013
DGAP-News: FUCHS increases EBIT and confirms outlook for the financial year
| Source: EQS Group AG