DGAP-News: FUCHS increases sales revenues and earnings again in the first half of the year and confirms its outlook for the financial year
(firmenpresse) - DGAP-News: Fuchs Petrolub AG / Key word(s): Half Year Results
FUCHS increases sales revenues and earnings again in the first half of
the year and confirms its outlook for the financial year
02.08.2012 / 07:00
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FUCHS increases sales revenues and earnings again in the first half of the
year and confirms its outlook for the financial year
- Further growth in sales revenues and earnings
- Earnings before interest and tax (EBIT) up 8.9% to EUR 145.4 million
- Outlook confirmed for the year 2012
The first six months of 2012 at a glance
(Amounts in EUR million) 1-6/2012 1-6/2011(2)(1) By company location.
Sales revenues (1) 910.0 818.4
Europe 541.0 504.6
Asia-Pacific, Africa 240.5 201.5
North and South America 161.4 138.1
Consolidation -32.9 -25.8
Earnings before interest and tax (EBIT) 145.4 133.5
Profit after tax 101.9 91.6
Earnings per share in EUR
Ordinary share 1.42 1.28
Preference share 1.43 1.29
Gross cash flow 105.5 94.4
Investments in long-term assets 33.4 16.5
Employees (as at June 30) 3,764 3,624
(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.
Performance
In the first half of 2012, the FUCHS PETROLUB Group increased its sales
revenues in all regions. This growth in sales revenues was largely driven
by increased sales volumes and sales prices. Organic growth was EUR 63.9
million or 7.8%. However, currency translations also had a positive effect
on sales revenues. Total revenues of EUR 910.0 million (818.4) were
recorded, which represents an increase of 11.2% over the same period of the
previous year.
This growth in sales revenues also allowed FUCHS PETROLUB to increase its
gross profit by 8.1% or EUR 24.7 million to EUR 330.1 million (305.4) in
the first half of the year. Due to the effects of growth and inflation,
personnel and other direct costs for sales, administration, research and
development increased by EUR 15.3 million or 8.8% to EUR 188.9 million
(173.6).
After inclusion of income from participations, the Group recorded earnings
before interest and tax (EBIT) of EUR 145.4 million (133.5). The figure
from the same period of the previous year was therefore exceeded by 8.9% or
EUR 11.9 million. Earnings after taxes rose by 11.2% or EUR 10.3 million to
EUR 101.9 million (91.6).
Earnings per share increased to EUR 1.42 (1.28) per ordinary share and EUR
1.43 (1.29) per preference share.
Capital expenditures
The FUCHS PETROLUB Group invested a sum of EUR 33.4 million (16.5) in
long-term assets in the first half of 2012.
Besides completion of the new research and development center, the EUR 23.3
million (14.4) invested inproperty, plant, equipment and intangible assets
also focused on extending the production facilities in Mannheim,
construction of our facility in Russia, modernizing our US production site
in Chicago and setting up fire protection facilities in Great Britain. The
planned construction of a new facility in Brazil also got underway with the
acquisition of a property.
Investments in financial assets revolved around a capital injection of EUR
10.1 million, with which the Group provided support for its holding in
Turkey in acquiring an automotive lubricants business.
Employees
As at June 30, 2012, the workforce of the FUCHS PETROLUB Group consisted of
3,764 employees worldwide. Compared with the 3,673 employees recorded at
the end of the previous year, this represents an increase of 91 people. The
recruitments were made in Asia and in Europe.
Outlook
The overall economic situation deteriorated slightly in the second quarter
of 2012. In addition various latent risks remain in place for the
development of the global economy, such as a potential worsening of the
national debt crisis. Despite this, FUCHS currently still rates the
economic situation as satisfactory and anticipates being able to push
forward with its growth in sales revenues in the second half of 2012.
As a result of the ongoing growth initiative, personnel and other direct
costs will be higher than the previous year. This has been accounted for in
our budgeting. Despite this increase in costs, the FUCHS PETROLUB Group is
still anticipating increases in earnings over the previous year, insofar
and as long as the various risks do not have an appreciable impact on our
operations.
Overall, FUCHS confirms its outlook for the year 2012. The Group is
striving to exceed the earnings before interest and tax of EUR 264.2
million achieved in the previous year. In light of the economic risks,
however, the earnings recorded in the first half of the year should not
simply be extrapolated over the full year.
Mannheim, August 2, 2012
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Germany
Tel.: ++49 (0) 621 3802-1104
E-Mail: tina.vogel(at)fuchs-oil.de
The information below can be accessed at the following web addresses:
Press release:
http://www.fuchs-oil.com
Interim report as at June 30, 2012:
http://www.fuchs-oil.com/ir_sixmonths.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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02.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Fuchs Petrolub AG
Friesenheimer Str. 17
68169 Mannheim
Germany
Phone: +49 (0)621 / 3802-0Fax: +49 (0)621 / 3802-7190
E-mail: ir(at)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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179983 02.08.2012
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Datum: 02.08.2012 - 07:00 Uhr
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