Against a less-than-easy macro-economic background, the globally active lubricant producer FUCHS PETROLUB AG in Mannheim, Germany, continued to operate successfully in the third quarter of 2001. Nine-month consolidated sales rose by 5.6 % over the preceding year's equivalent figure, to reach € 710.6 m (672.7). Operating profits and earnings before interest and tax (EBIT), at € 45.0 m and € 44.3 m respectively, were almost fully up to the previous year's level, the group's best year ever (€ 45.3 m and € 45.0 m respectively). The nine-month net income of € 12.5 m (14.9) was down on the preceding year's figure by 16.1 %, due to increased exceptional items and financing cost. This produces, after goodwill amortization of € 0.8 (0.7) per share, nine-month earnings per share of € 4.9 (5.8). The cash flow from current operating activities was significantly increased during the year's first nine months, to € 24.6 m (8.0). Capital expenditures in the first nine months of the year totaled € 20.9 m (20.8). The workforce on September 30, 2001 had risen to 3,917 people (3,856).
The almost worldwide economic uncertainties render it particularly difficult at present to make business and profit forecasts. But consolidated sales in October 2001, at € 5,4 m (81.8), were significantly up on September's disappointing business volume of € 76.0 m (80.2). This gives the group confidence that it will finish the full year 2001 with an overall record better than the average for the lubricant sector and many other industries as well.
Mannheim, November 30, 2001
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
D-68169 Mannheim
Tel.: +49(0)621/3802-104