DGAP-News: FUCHS sets new records for sales revenues and earnings in 2012
(firmenpresse) - DGAP-News: Fuchs Petrolub AG / Key word(s): Final Results
FUCHS sets new records for sales revenues and earnings in 2012
20.03.2013 / 07:00
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FUCHS sets new records for sales revenues and earnings in 2012
- Sales revenues grow by 10% to EUR 1,819 million
- Earnings before interest and tax increase by 11% to EUR 293 million
- Dividend to be raised by 30% to EUR 1.30 per preference share
The financial year 2012 at a glance
(Amounts in EUR million) 2012 2011 (2)(1) By company location.
Sales revenues (1) 1,819.1 1,651.5
Europe 1,080.7 1,006.7
Asia-Pacific, Africa 486.8 412.3
North and South America 320.3 282.6
Consolidation -68.7 -50.1
Earnings before interest and tax (EBIT) 293.0 263.5
Profit after tax 207.3 183.1
Earnings per share in EUR
Ordinary share 2.90 2.56
Preference share 2.92 2.58
Dividends per share in EUR
Ordinary share 1.28 (3) 0.98
Preference share 1.30 (3) 1.00
Free cash flow 140.4 59.0
Investments in fixed assets 71.4 37.0
Employees (December 31) 3,773 3,669
(2) Previous year's figures adjusted, see 'changes in the accounting
policies' in the notes to the consolidated financial statements.
(3) 2012 dividend proposal to be submitted to the Annual General Meeting on
May 8, 2013.
Performance
2012 was a successful year for the FUCHS PETROLUB Group. Sales revenues and
earnings enjoyed double-digit growth.
FUCHS increased its sales revenues to EUR 1,819.1 million in 2012. The
previous year's figure of EUR 1,651.5 million was therefore exceeded by EUR
167.6 million or 10.1%. At EUR 107.0 million, almost two thirds of the
increase in sales revenues can be attributed to organic growth. Added to
this is an increase of EUR 58.8 million due to currency translation effects
and EUR 1.8 million from external growth.
FUCHS PETROLUB recorded organic growth in all three global regions. Every
region achieved an increase in sales volumes, although the relative
increases varied as a result of weaker economic development in several
countries. Added to this were sales price increases due to higher costs of
raw materials.
Earnings before interest and tax (EBIT) increased by 11.2% to EUR 293.0
million (263.5) and profit after tax rose by 13.2% to EUR 207.3 million
(183.1). At the same time, personnel and overhead costs for selling,
distribution, administration as well as research and development increased
by EUR 29.4 million or 8.5% to EUR 376.1 million (346.7).
Earnings per ordinary and preference share increased by around 13.2%
year-on-year to EUR 2.90 (2.56) and EUR 2.92 (2.58) respectively.
Dividends
In the light of thesuccessful business performance and solid financial
position, the Executive Board and Supervisory Board of FUCHS PETROLUB AG
will propose a dividend increase of around 30% to the Annual General
Meeting which will take place on May 8, 2013. The dividend per preference
share would amount to EUR 1.30 (1.00), and per ordinary share to EUR 1.28
(0.98).
Capital expenditures
The growth initiative was continued in 2012. At EUR 71.4 million (37.0),
total investments in property, plant and equipment and intangible assets
(excluding acquisitions) as well as in financial assets virtually doubled
in 2012 relative to the previous year.
The investments in property, plant and equipment and intangible assets
totaling EUR 61.0 million (35.6) focused on the completion of the new
research and development center in Mannheim, the expansion and
modernization of the facility near Chicago and the construction of a new
manufacturing site in Kaluga, Russia. We are planning to open the Kaluga
site in the first six months of 2013. Furthermore, construction of a new
plant in Yingkou in Northern China commenced in 2012. In addition to these
developments, investments were made to replace and modernize equipment at
existing facilities at several of the Group's other locations and to
install fire protection equipment.
In Turkey, the Group invested EUR 10.1 million within the scope of
acquiring an automotive lubricants business by a joint venture company.
Employees
As at December 31, 2012, the FUCHS PETROLUB Group employed 3,773 people
worldwide (3,669). The total number of employees therefore increased by 104
or 2.8% compared to the previous year. The largest increase was in the
Europe region, where the workforce increased by 78 compared to the previous
year (+3.3%). Compared to December 31, 2011, 21 more people were employed
in the Asia-Pacific, Africa region (+2.6%) and five more people were
employed in North and South America (+1.0%).
Forecast
Due to its broad regional base and activities in many niche markets, in its
planning for 2013, the FUCHS PETROLUB Group expects to be able to continue
its growth policy. This is based on the assumption that, despite the known
issues, the global economy will enjoy positive development in 2013. In the
light of this economic framework, the Group plans for organic growth in the
low single-digit percentage range in 2013. To what extent external growth
will be possible through acquisitions or whether sales revenues will be
influenced by changes in currency exchange rates remains to be seen.
Moreover, the Group anticipates further growth in earnings before interest
and tax (EBIT) and profit after tax.
Mannheim, March 20, 2013
FUCHS PETROLUB AG
Public Relations
Friesenheimer Straße 17
68169 Mannheim
Germany
Tel.: 0049 (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:
www.fuchs-oil.com
Press photos:
http://www.fuchs-oil.com/photogallery02.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(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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204462 20.03.2013
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Datum: 20.03.2013 - 07:00 Uhr
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