FUCHS adjusts earnings forecast for the full year
In the first nine months of 2018, the FUCHS Group generated an increase in sales of 5% to EUR 1,953 million (1,862) and a growth of earnings before interest and tax (EBIT) of 1% to EUR 285 million (281). Including the EUR 12 million income from the sale of an at equity share, EBIT increased by 6% to EUR 297 million.
The current difficulties of the automotive manufacturers in Germany and the declining demand for cars in China suggest lower growth rates for the remainder of the year 2018. As a result, growth in earnings exceeding the planned inflation and growth-related cost increases is likely to be lower than previously expected.
Therefore, we expect our sales growth for the full year to be between 3% and 5% and the EBIT before special effect as in the previous year (EUR 373 million). Including the special effect, we expect an earnings growth in the range of 2% and 4%.
Further information will be published in our quarterly statement for the first nine months of the year on October 30, 2018.
Mannheim, October 22, 2018
FUCHS PETROLUB SE
Tel. +49 621 3802-1105
FUCHS PETROLUB SE
Tel. +49 621 3802-1104
This ad hoc 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, actual future developments and results can differ significantly from these assumptions and estimates due to a variety of factors. These factors can, for example, include changes in the overall economic climate, changes in procurement prices, changes in exchange rates and interest rates, and changes within 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 ad hoc release and assumes no liability for such.
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