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FUCHS increases sales revenues and earnings - outlook reaffirmed

FUCHS increases sales revenues and earnings - outlook reaffirmed

DGAP-News: FUCHS PETROLUB SE / Key word(s): Quarterly / Interim Statement
2016-11-03 / 07:00
The issuer is solely responsible for the content of this announcement.


FUCHS increases sales revenues and earnings - outlook reaffirmed
"FUCHS PETROLUB remains on course for growth. Despite unfavorable currency effects, the Group recorded a double-digit increase in sales revenues in the first nine months of 2016 attributable to organic growth and the acquisitions completed in 2015. EBIT increased by 6% and free cash flow before acquisitions is above the previous year's level, despite higher capital expenditure," comments Stefan Fuchs, Chairman of the Executive Board at FUCHS PETROLUB SE.

  - Sales revenues: +11% to EUR 1.7 billion
  - Earnings (EBIT): up 6% to EUR 276 million
  - Outlook for the financial year reaffirmed

FUCHS at a glance
in EUR million Q1-3 2016 Q1-3 2015 Change in % Sales revenues (1) 1,702.9 1,538.8 10.7 Europe 1,080.1 892.6 21.0 Asia-Pacific, Africa 450.8 443.4 1.7 North and South 260.0 266.9 -2.6 America
Consolidation -88.0 -64.1 Earnings before 276.2 260.9 5.9 interest and tax(EBIT)
Earnings after tax 191.5 180.9 5.9 Capital expenditures 52.8 29.1 81.4 Free cash flow before 145.3 143.1 1.5 acquisitions
Earnings per share in EUR
Ordinary share 1.37 1.30 5.4 Preference share 1.38 1.31 5.3 Employees as at 4,870 4,347 12.0 September 30
(1)  By company location

Sales revenues and earnings
In the first nine months of 2016 FUCHS PETROLUB increased its sales revenues by 11% to EUR 1,703 million (1,539). Organic growth accelerated to 3% over the course of the year. External growth driven by the acquisitions made in the previous year was 11% and negative currency effects amounted to -3%.

The income statement is also influenced by the previous year's acquisitions. The earning power of the companies acquired in 2015 is still below the Group average. In total, EBIT increased by 6% to EUR 276 million (261). Earnings after tax also increased by 6% to EUR 192 million (181). Earnings per ordinary and preference share rose to EUR 1.37 (1.30) and EUR 1.38 (1.31) respectively.

Despite the higher capital expenditures, the free cash flow before acquisitions of EUR 145 million is slightly above the previous year's level (143).

Segments: Sales revenues and earnings
The regional analysis shows that Europe recorded strong growth largely as a result of acquisitions (+19%) and that organic gains (+4%) were achieved particularly in Germany and Central & Eastern Europe.The Asia-Pacific, Africa region is 2% above the previous year. The organic growth recorded (+5%) can primarily be attributed to China, India and South Africa. Due to weak South American currencies and an ongoing period of weak demand in the mining, oil, gas and steel industries, North and South America remains around 3% below the previous year.

The Europe region increased its EBIT by 17% to EUR 149 million, while Asia- Pacific, Africa recorded a rise of 3% to EUR 90 million. At EUR 47 million, EBIT in North and South America region is 6% below the previous year's figure.

Outlook
FUCHS PETROLUB anticipates organic and acquisition-based growth in sales revenues at the top end of the forecast range of 7% to 11%. Considering negative currency effects, the Group expects sales revenues to grow between 7% and 8%. The Group anticipates EBIT growth in the range of 4% to 6%. Free cash flow before acquisitions is likely in the upper range of the forecast of EUR 170 million to 200 million.

Mannheim, November 3, 2016

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 (0)621 3802-1104
tina.vogel@fuchs-oil.de
www.fuchs.com/group

The following information can be accessed on the internet: Quarterly statement as at September 30, 2016: 
www.fuchs.com/group/financial-reports
Press photos: www.fuchs.com/group/photogallery/

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. The company, which was founded in Mannheim in 1931, employs around 5,000 people worldwide at 60 operating companies. FUCHS is the world's largest independent lubricant manufacturer. The most important markets in terms of sales revenues are Western Europe, Asia and North America.
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, for example, include changes in the overall economic climate, changes in procurement prices, changes to 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 press release and assumes no liability for such.




2016-11-03 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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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: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange  
   
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