The FUCHS Group, which operates globally in the lubricants industry, has signed an agreement to acquire the international LUBCON Group, primarily with the aim of jointly innovating and advancing high-quality specialty lubrication solutions. The family-run German company that operates out of Maintal in Hessen, Germany has many years of experience and expertise in the development, manufacture, sale and distribution of greases, oils, and pastes. Accordingly, this step will help the FUCHS Group strengthen its product portfolio for specialty lubrication solutions, as well as boosting its global competitiveness - subject to the closing of the deal.

The LUBCON Group comprises 13 operating companies, as well as five production locations in Germany, Poland, the Philippines, India, and the US. The company's high-quality products are used in various sectors, including the railway, roller bearings, paper, textiles, food, pharmaceutical and wind industries. 

"I feel confident that we can tap the growth potential of the LUBCON Group even more effectively on a global scale with the FUCHS network of 55 companies and 33 production facilities. We considered it extremely important to find the right partner for this and are looking forward to growing with FUCHS and safeguarding our future. As lubricant specialists, we not only operate in the same field, but are also both family-run enterprises, which strengthens our common values," comments Heiko Engelke, Managing Partner of the LUBCON Group.

"With the acquisition of the LUBCON Group, we see a great opportunity for our future development. We're not only gaining a team of highly qualified employees with extensive technological expertise, but also extending our own product portfolio, particularly in the field of industrial lubricants and greases. This not only strengthens our existing key markets but also enables us to penetrate new sales markets. We feel certain that this strategic decision will further reinforce our position as leading supplier in the industry," comments Stefan Fuchs, Chairman of the Executive Board at FUCHS SE.

The transaction is still pending approval from the cartel authorities. However, the parties anticipate closing the deal in the third quarter of 2024.

The LUBCON Group employs 211 staff members, with 180 in EMEA, 20 in Asia-Pacific, and 11 in the Americas. The company recorded sales revenue of around EUR 40 million in the financial year 2023.

The FUCHS Group has a workforce of 6,200 employees and generated sales revenue of EUR 3.5 billion in the financial year 2023.

Mannheim, April 22, 2024

FUCHS SE
Public Relations
Einsteinstraße 11
68169 Mannheim
Telefon +49 621 3802-1104
E-Mail: tina.vogel@fuchs.com

The following information can be accessed via the Internet:
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,200 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner. In 2023, the high-tech company generated revenue of EUR 3.5 billion with 33 production sites and 55 operating companies.

Publication of acquisition or disposal in respect of own shares

1. Details of issuer

FUCHS SE Einsteinstraße 11 68169 Mannheim Germany

2. Names of subsidiary undertakings or third persons
holding directly 3% or more shares, if different from 1.

3. Date on which threshold was crossed or reached

03 Apr 2024

4. Share-position

	Share-position in %	total amount of shares issued
Resulting situation	5.00370503597122 %	69500000
Previous publication	3.00942014388489 %	/

5. Details

absolute		in %
direct	indirect (via subsidiary or third person, Sec. 71d para. 1 AktG)	direct	indirect (via subsidiary or third person, Sec. 71d para. 1 AktG)
3477575		5.00370503597122 %	%

FUCHS SE and Mercedes-Benz AG announce strategic business partnership to drive a quality collaboration in the Automotive After-Sales

FUCHS SE and Mercedes-Benz Global Customer Service & Parts are pleased to announce a strategic business partnership aimed at fostering innovation, technology, and sustainability in the automotive After-Sales. The two companies have signed a collaboration contract on March 28. This marks a significant step forward in advancing technology and exceptional quality and responsibility within the automotive sector.

The partnership between the FUCHS Group, the world's largest independent supplier of lubrication solutions, and Mercedes-Benz Global Customer Service & Parts, renowned for the global Mercedes-Benz service network, is poised to redefine automotive lubrication standards and deliver enhanced performance by providing tailormade lubrication solutions for Mercedes-Benz customers.

Through this strategic alliance, both companies will leverage their respective expertise to develop innovative solutions that optimize vehicle performance, efficiency, and environmental sustainability.

"At Mercedes-Benz Global Customer Service & Parts our top priority is to deliver the highest level of customer satisfaction, truly caring for their vehicles by offering high-performing, innovative and more sustainable products," stated Andreas Jörg, Director of Service & Parts Business and Warranty & Goodwill Mercedes-Benz Cars of Mercedes-Benz Group AG. "Our strategic partnership with FUCHS SE is an exciting opportunity to further enhance our commitment to our customers by collaborating on innovative technologies that will shape the future of mobility & customer experience."

FUCHS SE shares a similar sentiment regarding the partnership's potential impact. "We are thrilled to join forces with Mercedes-Benz Global Customer Service & Parts to push the boundaries of automotive technology," said Stefan Fuchs, CEO of FUCHS SE. "FUCHS has a long history of working with Mercedes-Benz with most notably as the original partner for the genuine oil program. Together, we will work towards developing lubrication solutions that not only enhance vehicle performance and reliability but also promote environmental stewardship."

As part of their collaboration, FUCHS and Mercedes-Benz Global Customer Service & Parts will also explore opportunities for joint marketing initiatives, educational programs to raise awareness about the importance of sustainable mobility solutions.

Mannheim, April 4, 2024

FUCHS SE
Public Relations
Einsteinstraße 11
68169 Mannheim
Phone +49 621 3802-1104
E-Mail: tina.vogel@fuchs.com

The following information can be accessed via the Internet:
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

 

About FUCHS

Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,200 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner. In 2023, the high-tech company generated revenue of EUR 3.5 billion with 33 production sites and 55 operating companies.

 

About Mercedes-Benz

Mercedes-Benz Group AG is one of the world's most successful automotive companies.

The company founders, Gottlieb Daimler and Carl Benz, made history by inventing the automobile in 1886. As a pioneer of automotive engineering, Mercedes-Benz sees shaping the future of mobility in a safe and sustainable way as both a motivation and obligation. The company's focus therefore remains on innovative and green technologies as well as on safe and superior vehicles that both captivate and inspire.

With Mercedes-Benz AG, the Group is one of the world's largest manufacturers of luxury passenger cars. The company focuses on the development, production and sales of passenger cars, vans and vehicle-related services. The company also aspires to be the leader in the fields of electric mobility and vehicle software. Within the company, the Mercedes-Benz Data initiative develops, bundles, and distributes innovative data solutions related to Mercedes-Benz vehicles.

Mercedes-Benz Global Customer Service & Parts is responsible for the worldwide customer service and parts business of Mercedes-Benz Passenger Cars and Vans and works closely with international markets, distributors and branches with one focus: total customer satisfaction.

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:
First name:	Stefan
Last name(s):	Fuchs

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Disposal

c) Price(s) and volume(s)

Price(s)	Volume(s)
45.54 EUR	10,610.82 EUR
45.52 EUR	13,246.32 EUR
45.50 EUR	18,245.50 EUR
45.48 EUR	29,607.48 EUR
45.46 EUR	28,958.02 EUR
45.44 EUR	19,993.60 EUR
45.42 EUR	83,436.54 EUR
45.40 EUR	36,274.60 EUR
45.38 EUR	56,498.10 EUR
45.36 EUR	7,620.48 EUR
45.34 EUR	12,695.20 EUR
45.32 EUR	29,140.76 EUR
45.30 EUR	45,571.80 EUR
45.28 EUR	27,892.48 EUR
45.26 EUR	13,034.88 EUR
45.24 EUR	48,633.00 EUR
45.22 EUR	20,529.88 EUR
45.20 EUR	2,350.40 EUR
45.18 EUR	10,075.14 EUR
45.16 EUR	59,746.68 EUR
45.00 EUR	409,500.00 EUR
45.00 EUR	9,045.00 EUR
45.00 EUR	148,095.00 EUR
45.00 EUR	2,250.00 EUR
45.00 EUR	191,970.00 EUR

d) Aggregated information

Price	Aggregated volume
45.1478 EUR	1,335,020.45 EUR

e) Date of the transaction

2024-03-22; UTC+1

f) Place of the transaction

Name:	XETRA
MIC:	XETR

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Ralph
Last name(s):	Rheinboldt

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Disposal

c) Price(s) and volume(s)

Price(s)	Volume(s)
45.98 EUR	12,920.38 EUR
45.96 EUR	16,775.40 EUR
45.94 EUR	11,622.82 EUR
45.92 EUR	26,863.20 EUR
45.90 EUR	138,663.90 EUR

d) Aggregated information

Price	Aggregated volume
45.9147 EUR	206,845.72 EUR

e) Date of the transaction

2024-03-25; UTC+1

f) Place of the transaction

Name:	XETRA
MIC:	XETR

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Susanne
Last name(s):	Fuchs

2. Reason for the notification

a) Position / status

Position:

Member of the administrative or supervisory body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Dr. Susanne Fuchs instructed a bank by way of a standing order to buy preference shares of FUCHS SE in a market sensitive manner. The acquisition follows the obligation of the members of the supervisory board to invest in each case parts of their fix cash compensation in FUCHS SE preference shares with a holding period of several years. The execution of the standing order is in each case subject to the condition precedent of the payment by FUCHS SE of the amount for which preference shares are to be acquired. The condition precedent has now occurred, the bank is accordingly instructed to buy preference shares of FUCHS SE for up to EUR 25,550.00 in a market sensitive manner until March 26, 2024.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2024-03-12; UTC+1

f) Place of the transaction

Outside a trading venue

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Christoph
Last name(s):	Loos

2. Reason for the notification

a) Position / status

Position:

Member of the administrative or supervisory body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Dr. Christoph Loos instructed a bank by way of a standing order to buy preference shares of FUCHS SE in a market sensitive manner. The acquisition follows the obligation of the members of the supervisory board to invest in each case parts of their fix cash compensation in FUCHS SE preference shares with a holding period of several years. The execution of the standing order is in each case subject to the condition precedent of the payment by FUCHS SE of the amount for which preference shares are to be acquired. The condition precedent has now occurred, the bank is accordingly instructed to buy preference shares of FUCHS SE for up to EUR 34,050.00 in a market sensitive manner until March 26, 2024.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2024-03-12; UTC+1

f) Place of the transaction

Outside a trading venue

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Ralph
Last name(s):	Rheinboldt

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Dr. Ralph Rheinboldt instructed a bank by way of a standing order to buy preference shares of FUCHS SE in a market sensitive manner. The acquisition follows the obligation of the members of the executive board to invest in each case parts of their variable cash compensation in FUCHS SE preference shares with a holding period of several years. The execution of the standing order is in each case subject to the condition precedent of the payment by FUCHS SE of the amount for which preference shares are to be acquired. The condition precedent has now occurred, the bank is accordingly instructed to buy preference shares of FUCHS SE for up to EUR 223,625.00 in a market sensitive manner until March 26, 2024.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2024-03-12; UTC+1

f) Place of the transaction

Outside a trading venue

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Timo
Last name(s):	Reister

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Dr. Timo Reister instructed a bank by way of a standing order to buy preference shares of FUCHS SE in a market sensitive manner. The acquisition follows the obligation of the members of the executive board to invest in each case parts of their variable cash compensation in FUCHS SE preference shares with a holding period of several years. The execution of the standing order is in each case subject to the condition precedent of the payment by FUCHS SE of the amount for which preference shares are to be acquired. The condition precedent has now occurred, the bank is accordingly instructed to buy preference shares of FUCHS SE for up to EUR 223,625.00 in a market sensitive manner until March 26, 2024.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2024-03-12; UTC+1

f) Place of the transaction

Outside a trading venue

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Sebastian
Last name(s):	Heiner

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Dr. Sebastian Heiner instructed a bank by way of a standing order to buy preference shares of FUCHS SE in a market sensitive manner. The acquisition follows the obligation of the members of the executive board to invest in each case parts of their variable cash compensation in FUCHS SE preference shares with a holding period of several years. The execution of the standing order is in each case subject to the condition precedent of the payment by FUCHS SE of the amount for which preference shares are to be acquired. The condition precedent has now occurred, the bank is accordingly instructed to buy preference shares of FUCHS SE for up to EUR 223,625.00 in a market sensitive manner until March 26, 2024.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2024-03-12; UTC+1

f) Place of the transaction

Outside a trading venue

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:
First name:	Isabelle
Last name(s):	Adelt

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Isabelle Adelt instructed a bank by way of a standing order to buy preference shares of FUCHS SE in a market sensitive manner. The acquisition follows the obligation of the members of the executive board to invest in each case parts of their variable cash compensation in FUCHS SE preference shares with a holding period of several years. The execution of the standing order is in each case subject to the condition precedent of the payment by FUCHS SE of the amount for which preference shares are to be acquired. The condition precedent has now occurred, the bank is accordingly instructed to buy preference shares of FUCHS SE for up to EUR 223,625.00 in a market sensitive manner until March 26, 2024.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2024-03-12; UTC+1

f) Place of the transaction

Outside a trading venue

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:
First name:	Stefan
Last name(s):	Fuchs

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Stefan Fuchs instructed a bank by way of a standing order to buy preference shares of FUCHS SE in a market sensitive manner. The acquisition follows the obligation of the members of the executive board to invest in each case parts of their variable cash compensation in FUCHS SE preference shares with a holding period of several years. The execution of the standing order is in each case subject to the condition precedent of the payment by FUCHS SE of the amount for which preference shares are to be acquired. The condition precedent has now occurred, the bank is accordingly instructed to buy preference shares of FUCHS SE for up to EUR 447,475.00 in a market sensitive manner until March 26, 2024.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2024-03-12; UTC+1

f) Place of the transaction

Outside a trading venue

FUCHS concludes financial year 2023 with new record highs

• Sales revenues with increase of 4% to EUR 3,541 million
• EBIT of EUR 413 million 13% above prior year
• Free cashflow before acquisitions at EUR 465 million
• 22^nd dividend increase in a row: up 4% to EUR 1.11 per preference share
  and EUR 1.10 per ordinary share
• Forecast 2024: Sales revenues around EUR 3.6 billion and EBIT around EUR 430 million

 FUCHS at a glance

in EUR million	2023	2022	Abw.	Abw. %
Sales revenues (1)	3,541	3,412	129	4
Europe, Middle East, Africa	2,041	2,036	5	0
Asia-Pacific	979	929	50	5
North and South America	687	653	34	5
Consolidation	-166	-206	40
EBIT before income from companies consolidated at equity	406	356	50	14
EBIT	413	365	48	13
Earnings after tax	283	260	23	9
Investments in long-term assets	83	79	4	5
Free cash flow before acquisitions	465	61	404	>100
Acquisitions	-4	-2	-2	100
Free cash flow	461	59	402	>100
FUCHS Value Added	212	172	40	23
Earnings per share in EUR
Ordinary share	2.08	1.87	0,21	11
Preference share	2.09	1.88	0,21	11
Employees as of December 31	6,272	6,104	168	3

1. By company location

„2023 was a very successful year for FUCHS, with new record highs for sales revenues, EBIT and free cash flow. With a rise in sales revenues of 4% to EUR 3,541 million and an EBIT increase of 13% to EUR 413 million, we achieved a significant milestone regarding our FUCHS2025 target. While the previous two years were marked by extraordinary increases in raw material costs and considerable availability problems, raw material markets normalized in the past year. This eliminated the ripple effect of inflation of prices and allowed us to concentrate fully on business development again. In particular the Europe region performed very well. North America achieved double-digit growth in local currency. In China, the market recovered in the second half of the year. With the construction of a new plant in Vietnam, the path is set for expansion in another Asian growth market. Free cash flow before acquisitions was EUR 465 million in 2023. This high figure must be seen in the context of the two previous years, which were marked by inflation-related funds tied up. In view of the extremely positive cash flow development, the Executive Board, with the approval of the Supervisory Board, decided in December 2023 to expand and extend the share buyback program, which began in 2022. A total of up to 8 million shares with a total price of up to EUR 280 million are to be acquired. At the same time, we are proposing the 22^nd dividend increase in a row.
Geopolitically, in addition to the terrible war in Ukraine, which has now been going on for over two years, a new hotbed of crisis has emerged in the Middle East. We condemn the terrorist attack on Israel by Hamas and we observe with horror the suffering of civilians in Gaza. The attacks by the Houthi rebels on ships in the Red Sea are further exacerbating the uncertainties. The impact of all of this on the economic development as well as raw material and sales prices is difficult to forecast. Despite all the current uncertainties, we are confident about the year ahead thanks to a large number of growth projects. We anticipate sales revenues of around EUR 3.6 billion and expect EBIT of around EUR 430 million.”

Stefan Fuchs, Chairman of the Executive Board FUCHS SE

Business development in the regions

In the past financial year, FUCHS was able to increase sales revenues in all regions. While the regions EMEA as well as North and South America were able to increase EBIT, the region Asia-Pacific saw a slight decline.
The EMEA region generated sales revenues of EUR 2,041 million (2,036), which were on the previous year's level with an increase of EUR 5 million. In 2023, the ripple effects of inflation-related price adjustments lapsed. Overall, EBIT increased by EUR 43 million to EUR 213 million (170). The majority of companies contributed to the improvement in results. The main contributors were Germany, the United Kingdom, Poland and Sweden. In addition, the companies from Italy and Spain were the main countries to post high relative increases.
The Asia-Pacific region reported sales revenues of EUR 979 million (929) for the past financial year, which were EUR 50 million or 5% higher than the previous year. Despite an increase in sales, the region's EBIT of EUR 111 million fell just short of the previous year's result by EUR 2 million. The development was impacted, among other things, by significant negative currency translation effects from all countries in the region. China, in particular has not yet been able to build on the successes of the years before the pandemic, despite an increase in sales revenues, and has taken a slight step backwards in terms of results due to currency effects. India, Korea and Japan, on the other hand, recorded satisfactory earnings growth.
After already two very strong years of growth, the North and South America region was also able to achieve an impressive 5% increase in sales revenues, from EUR 653 to EUR 687 million in 2023. The region increased its EBIT by 3% to EUR 79 million (77) and, despite significant currency losses, contributed EUR 2 million more to the Group’s earnings than in the previous year. As in the previous year, Nye, the North American specialty manufacturer acquired in 2020, and the Mexican regional company in particular contributed to the positive earnings development. Argentina as a high-inflation country, on the other hand, suffered a decline in earnings as well as in sales.

22^nd consecutive increase in dividend

For 2023 again, FUCHS proposes to the Annual General Meeting a dividend increase by 4%, to EUR 1.11 (1.07) per preference share and EUR 1.10 (1.06) per ordinary share. Solid growth in sales revenues and a strong earnings- and cashflow-development in a challenging economic environment underpins the success of FUCHS’s business model. Building on this, we fulfil our long-standing dividend policy of an annually rising dividend also for 2023. For FUCHS, the dividend commitment is a key pillar of the company’s philosophy of allowing its shareholders to participate in the company’s success.

Forecast for 2024 a further step towards EBIT target 2025

The general economic uncertainty is accompanied by uncertainty about the further growth in commodity prices, and thus sales prices. At present, the FUCHS Group expects another sales revenue increase to around EUR 3.6 billion on the basis of its global and widely diversified structure. This growth is largely driven by volume, assuming stable prices. As a result, FUCHS expects to generate EBIT of around EUR 430 million. This will be achieved through continued rigorous cost management and a firm limitation on new hires. At the same time, however, we have to bear further inflation-related cost increases, especially in the area of staff costs, and prepare for the SAP S/4 HANA rollout.
Investments will be at the level of the previous year and are planned at around EUR 80 million. For 2024, we expect an FVA of around EUR 240 million. Both the improvement in EBIT to around EUR 430 million and an expected reduction in the capital costs will have a positive impact. We expect free cash flow before acquisitions to normalize after the uniquely high figure in 2023. Given the forecast result, constant investments and a light build-up of NOWC at the end of the year compared with the previous year, we are expecting free cash flow before acquisitions around EUR 250 million.

Further milestones achieved with FUCHS2025

“The success of the past 12 months encourages us to stay on the path we have taken with FUCHS2025 and to keep intensively addressing the three major megatrends – sustainability, the shift in mobility and digitalization – to ensure a successful future. In the area of sustainability, in addition to the important field of circular economy, our main focus is on Corporate Sustainability Reporting Directive (CSRD), a topic that we are preparing for rigorously. With a view to the shift in mobility, we have achieved important successes and are focusing our research on new areas of application for our products in battery-powered cars. And as part of the digitalization process, we are preparing for the introduction of SAP S/4 HANA. This is a unique opportunity for us to unify master data and processes worldwide and thus make the FUCHS Group fit for the future. The market segmentation of our business with the aim of providing our customers with comprehensive support in all lubricant-related areas has continued to pay off. We were proud to receive further recognitions from our long-time partners JOHN DEERE and DMG MORI, as well as HITACHI. In all three cases, we were able to excel due to the combination of global support, technological excellence and a motivated on-site FUCHS team.
The emotional statement MOVING YOUR WORLD is our purpose and specifies what we stand for and why we do what we do: We keep our customers’ world going and keep them moving forward. Based on this, we launched an advertising campaign across five continents at twelve international airports, accompanied by a confident social media appearance. At the same time, we changed our name to FUCHS SE to emphasize our focus on advanced and highly efficient lubricant solutions as a high-tech company. With the appointment of Dr. Timo Reister as Deputy Chairman of the Executive Board, we have established an important element in the long-term succession planning for the Executive Board, thus ensuring planning security for the future.”

Stefan Fuchs, Chairman of the Executive Board FUCHS SE

 

Mannheim, March 12, 2024

   

FUCHS SE

Public Relations

Einsteinstraße 11

68169 Mannheim

Tel. +49 (0)621 3802 1104

tina.vogel@fuchs.com 

www.fuchs.com/group 

 

The following information can be accessed via the Internet:

Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

 

About FUCHS

Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest

independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,200 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

 

Important note

This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS 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 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.

Notification of Major Holdings

1. Details of issuer

Name:	FUCHS SE
Street:	Einsteinstraße 11
Postal code:	68169
City:	Mannheim Germany
Legal Entity Identifier (LEI):	529900SNF9E1P5ZO4P98

2. Reason for notification

X	Acquisition/disposal of shares with voting rights
	Acquisition/disposal of instruments
	Change of breakdown of voting rights
	Other reason:

3. Details of person subject to the notification obligation

Legal entity: Mawer Investment Management Inc. City of registered office, country: Calgary, Canada

4. Names of shareholder(s)
holding directly 3% or more voting rights, if different from 3.

5. Date on which threshold was crossed or reached:

26 Jan 2024

6. Total positions

	% of voting rights attached to shares (total of 7.a.)	% of voting rights through instruments (total of 7.b.1 + 7.b.2)	Total of both in % (7.a. + 7.b.)	Total number of voting rights pursuant to Sec. 41 WpHG
New	2.99 %	0.00 %	2.99 %	69500000
Previous notification	4.95 %	0 %	4.95 %	/

7. Details on total positions
a. Voting rights attached to shares (Sec. 33, 34 WpHG)

ISIN	Absolute		In %
	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)
DE000A3E5D56	0	2078253	0.00 %	2.99 %
Total	2078253		2.99 %

b.1. Instruments according to Sec. 38 (1) no. 1 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Voting rights absolute	Voting rights in %
			0	0.00 %
		Total	0	0.00 %

b.2. Instruments according to Sec. 38 (1) no. 2 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Cash or physical settlement	Voting rights absolute	Voting rights in %
				0	0.00 %
			Total	0	0.00 %

8. Information in relation to the person subject to the notification obligation

X	Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) an interest in the (underlying) issuer (1.).
	Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity:

Name

% of voting rights (if at least 3% or more)

% of voting rights through instruments (if at least 5% or more)

Total of both (if at least 5% or more)

9. In case of proxy voting according to Sec. 34 para. 3 WpHG
(only in case of attribution of voting rights in accordance with Sec. 34 para. 1 sent. 1 No. 6 WpHG)

Date of general meeting:
Holding total positions after general meeting (6.) after annual general meeting:

Proportion of voting rights	Proportion of instruments	Total of both
%	%	%

10. Other explanatory remarks:

Date

30 Jan 2024

FUCHS SE honored with the "DMG MORI Partner Award 2023" for the second time

In addition to the prestigious partner award from DMG MORI, the world's leading manufacturer of machine tools, both companies are also celebrating the tenth anniversary of this successful, appreciative and forward-looking partnership in the current year 2024.

After 2021, DMG MORI honored the world's largest independent supplier of lubrication solutions, FUCHS SE, with the "DMG MORI Partner Award 2023" for the second time. FUCHS has repeatedly impressed with its long-standing technology partnership in the DMG MORI Qualified Products (DMQP) partner program, which stands for optimal manufacturing solutions for machine components, peripherals and accessories. FUCHS reliably supplies high-quality, high-performance lubricants that are exclusively tailored to the needs of DMG MORI and thus provides active service and sales support for DMG MORI customers around the globe. This ensures a secure and global supply chain as well as a sustainable and holistic approach to lubricants.

FUCHS CEO Stefan Fuchs, Susanne Heirich, Member of the Management Board of FUCHS LUBRICANTS GERMANY and Global Key Account Manager Jens Tempel were delighted to receive the award from DMG MORI President Dr. Masahiko Mori, Alfred Geißler, CEO DMG MORI AG and Timo Rickermann, CPO DMG MORI AG, at the "DMG MORI Open House" on January 25, 2024 in Pfronten. "Our common goal was and is to set standards in the field of lubrication solutions for machine tools with innovative product developments. We have succeeded in ensuring that every lubricant in the machine is tailor-made and perfectly coordinated, which means even better performance and greater sustainability for customers. Everyone benefits from this claim: DMG MORI as a leading machine tool manufacturer, FUCHS as a lubricant manufacturer and especially our joint customers. We are very pleased about this special recognition of our partnership-based cooperation," said Stefan Fuchs at the award ceremony.

Alfred Geißler, Chairman of the Executive Board of DMG MORI AG, also took the opportunity of the award ceremony to thank FUCHS for the ten years of cooperation: "FUCHS has always been a valuable partner for us, with whom we have successfully mastered challenges and achieved common goals. The high-quality lubricants from FUCHS have helped to keep our machines running reliably and smoothly. On behalf of the entire DMG MORI management, I would like to thank the FUCHS team for the outstanding cooperation over the last decade. We look forward to continuing this successful partnership in the years to come."

Growing together worldwide
FUCHS has been a technology partner since 2014 and an official lubricant partner of the DMG MORI Qualified Products (DMQP) partner program since 2019. As a certified DMQP partner, FUCHS provides lubricants tailored to DMG MORI machines and processes, such as cooling lubricants, metalworking lubricants, cleaners and greases. The technology partnership between the two companies began with projects in China and was gradually extended to other markets. The partners are now active in 41 countries worldwide. Together, FUCHS and DMG MORI are developing new lubrication solutions and services for machine tool applications to advance the digitalization of production processes and the condition monitoring of machines and systems. These holistic solutions ensure a threefold secure supply chain: globally, locally and in the future.

Mannheim, January 26, 2024

 

FUCHS SE
Public Relations
Einsteinstraße 11
68169 Mannheim
Phone +49 621 3802-1104
E-Mail: tina.vogel@fuchs.com

The following information can be accessed via the Internet:
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

 

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner. In 2022, the high-tech company generated revenue of EUR 3.4 billion with 34 production sites and 56 operating companies.

Notification of Major Holdings

1. Details of issuer

Name:	FUCHS SE
Street:	Einsteinstraße 11
Postal code:	68169
City:	Mannheim Germany
Legal Entity Identifier (LEI):	529900SNF9E1P5ZO4P98

2. Reason for notification

X	Acquisition/disposal of shares with voting rights
	Acquisition/disposal of instruments
	Change of breakdown of voting rights
	Other reason:

3. Details of person subject to the notification obligation

Legal entity: Ministry of Finance on behalf of the State of Norway City of registered office, country: Oslo, Norway

4. Names of shareholder(s)
holding directly 3% or more voting rights, if different from 3.

Norges Bank

5. Date on which threshold was crossed or reached:

22 Jan 2024

6. Total positions

	% of voting rights attached to shares (total of 7.a.)	% of voting rights through instruments (total of 7.b.1 + 7.b.2)	Total of both in % (7.a. + 7.b.)	Total number of voting rights pursuant to Sec. 41 WpHG
New	3.01 %	0.001438848921 %	3.01 %	69500000
Previous notification	n/a %	n/a %	n/a %	/

7. Details on total positions
a. Voting rights attached to shares (Sec. 33, 34 WpHG)

ISIN	Absolute		In %
	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)
DE000A3E5D56	0	2092650	0.00 %	3.01 %
Total	2092650		3.01 %

b.1. Instruments according to Sec. 38 (1) no. 1 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Voting rights absolute	Voting rights in %
Shares on loan (right to recall)	n/a	At any time	1000	0 %
		Total	1000	0.001438848921 %

b.2. Instruments according to Sec. 38 (1) no. 2 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Cash or physical settlement	Voting rights absolute	Voting rights in %
				0	0.00 %
			Total	0	0.00 %

8. Information in relation to the person subject to the notification obligation

	Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) an interest in the (underlying) issuer (1.).
X	Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity:

Name	% of voting rights (if at least 3% or more)	% of voting rights through instruments (if at least 5% or more)	Total of both (if at least 5% or more)
State of Norway	%	%	%
Norges Bank	3.01 %	%	%

9. In case of proxy voting according to Sec. 34 para. 3 WpHG
(only in case of attribution of voting rights in accordance with Sec. 34 para. 1 sent. 1 No. 6 WpHG)

Date of general meeting:
Holding total positions after general meeting (6.) after annual general meeting:

Proportion of voting rights	Proportion of instruments	Total of both
%	%	%

10. Other explanatory remarks:

Date

23 Jan 2024

FUCHS SE appoints Dr. Timo Reister as Deputy Chairman of the Executive Board

The Supervisory Board of FUCHS SE has appointed Dr. Timo Reister (44) as Deputy Chairman of the Executive Board. The appointment will take effect from January 1, 2024 and is part of the company's long-term succession planning.

Timo Reister joined FUCHS in 2009 after studying business administration and completing his doctorate and has been a member of the Executive Board based in Mannheim since 2016. After joining the company, he was responsible for the OEM and specialty business in the USA as well as for FUCHS Mexico for almost five years. He then moved to China in 2014, where he headed the Asia-Pacific region as a member of the Group Management Committee. Through these stays, Timo Reister got to know FUCHS' two most important foreign markets on the ground. Today, he is responsible for the two global regions Americas and Asia-Pacific as well as for three global sales divisions: OEM, Automotive Aftermarket and Mining.

"The appointment is a sign of our recognition for his outstanding achievements and an important element of our long-term succession planning on the Executive Board. I am very pleased that with this step we can bind Timo Reister to our company in the long term," says Dr. Christoph Loos, Chairman of the Supervisory Board of FUCHS SE. CEO Stefan Fuchs (55) adds: "I am very happy for Timo Reister. He has impressed in all his previous positions at FUCHS and is an entrepreneur with FUCHS DNA who, in addition to his professional expertise, also has great social skills."

The responsibilities of the Executive Board remain unchanged by this appointment. In addition to Stefan FUCHS (55) and Dr. Timo Reister (44), the at the end of 2022 newly formed Executive Board team consists of Isabelle Adelt (39), CFO, Dr. Sebastian Heiner (45), CTO, and Dr. Ralph Rheinboldt responsible for the EMEA region (Europe, Africa and Middle East) and the Industry and Specialties divisions.

Mannheim, December 8, 2023

FUCHS SE
Public Relations
Einsteinstraße 11
68169 Mannheim
Phone +49 621 3802-1104'
E-Mail: tina.vogel@fuchs.com

The following information can be accessed via the Internet:
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner. In 2022, the high-tech company generated revenue of EUR 3.4 billion with 34 production sites and 56 operating companies.

FUCHS SE expands and extends buyback programme of ordinary and preference shares

The Executive Board of FUCHS SE, with the approval of the Supervisory Board, has today resolved to extend and prolong the current share buyback programme with regard to ordinary shares and preference shares of the company, which was announced on June 21, 2022 by ad hoc release and commenced on June 27, 2022. For this purpose, the company makes use of the authorization granted by the Annual General Meeting on May 5, 2020 to acquire treasury shares pursuant to Section 71 (1) No. 8 AktG. 

In addition to the existing scope of the current share buyback programme, up to a further 2,000,000 shares, of which up to a further 1,000,000 ordinary shares and up to a further 1,000,000 preference shares of the company are to be acquired. An additional amount of up to a maximum of EUR 80 million will be made available for the extension of the share buyback programme. The period of the share buyback programme will be extended until September 30, 2024.

In total, the expanded and extended share buyback programme thus includes the acquisition of up to 8,000,000 shares (previously 6,000,000 shares), of which up to 4,000,000 ordinary shares (previously 3,000,000 ordinary shares) and up to 4,000,000 preference shares (previously 3,000,000 preference shares) of the company at a total purchase price (excluding incidental acquisition costs) of up to a maximum of EUR 280 million (previously up to a maximum of EUR 200 million) in the period from June 27, 2022 until September 30, 2024 at the latest (previously until March 29, 2024 at the latest).

The company will cancel the acquired treasury shares.

The share buyback and the planned cancellation of the acquired shares will have the effect of reducing the number of outstanding ordinary and preference shares. Furthermore, the capital structure of FUCHS SE will be improved.

Information on the transactions related to the share buyback programme will be regularly provided on the company's website under Investor Relations.

Mannheim, December 7, 2023

FUCHS SE
Investor Relations
Lutz Ackermann
Tel. +49 621 3802-1201
Lutz.Ackermann@fuchs.com

 

 

Top 40 under 40:
FUCHS CFO Isabelle Adelt honored by Capital magazine

A role model for young, talented and well-educated women: Isabelle Adelt is Chief Financial Officer (CFO) at FUCHS SE and one of the youngest female Executive Board members of a listed company in Germany. She has now been recognized by the business magazine Capital as an important talent shaping Germany and voted one of the "Top 40 under 40" in the management category.

39-year-old Isabelle Adelt has been with the world's largest independent provider of lubrication solutions since November 2022, making her one of the youngest female Executive Board members of a MDAX-listed company. In addition to holistic performance management, her management style is characterized by open communication and continuous exchange with all stakeholders. In this way, she sets new impulses for a modern management culture and shows perspectives for competent, young women in management positions. The business magazine Capital has now honored her for this and included her in the "Top 40 under 40" managers.

"We are delighted that Isabelle Adelt's great commitment and holistic approach are not only highly valued by us, but also recognized and honored in the German economy," explains Stefan Fuchs, Chairman of the Executive Board of FUCHS SE.

"I am proud that my commitment has been recognized by the renowned business experts at Capital magazine," says a delighted Isabelle Adelt. "The award is also an incentive for me to continue to be active beyond my traditional tasks. Beyond digital and AI, I am passionate about equality, diversity and intercultural inclusion. Only together can we meet the challenges of a globalized world."

Competence and empathy
In addition to traditional CFO tasks, Isabelle Adelt is also responsible for digitalization, legal, compliance and investor relations. Her projects include the definition and implementation of the digital strategy "FUCHS goes Digital", the use of AI and the implementation of standardized platforms, processes and data structures. Born in East Westphalia, she previously worked nationally and internationally at the auditing firm Ernst & Young, the ZEISS Group and Schenck Process in various areas, including controlling, investor relations and project management. Isabelle Adelt is involved in the FeMale Leaders network and campaigns for a higher proportion of women in management positions. 

Top 40 under 40
Since 2007, the business magazine Capital has carried out an annual ranking of leading minds under the age of 40 in Germany in the categories of management, entrepreneurs, politicians and exceptional talents in science and society. The award winners are selected from hundreds of candidates in several jury meetings.

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner. In 2022, the high-tech company generated revenue of EUR 3.4 billion with 34 production sites and 56 operating companies.

Mannheim, November 17, 2023

FUCHS SE
Public Relations
Einsteinstraße 11
68169 Mannheim
Phone +49 621 3802-1104
E-Mail: tina.vogel@fuchs.com

The following information can be accessed via the Internet:
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Timo
Last name(s):	Reister

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Disposal

c) Price(s) and volume(s)

Price(s)	Volume(s)
38.66 EUR	22,036.20 EUR
38.64 EUR	20,517.84 EUR
38.62 EUR	33,213.20 EUR
38.56 EUR	31,542.08 EUR
38.54 EUR	11,369.30 EUR
38.50 EUR	18,749.50 EUR
38.48 EUR	9,850.88 EUR
38.44 EUR	61,504.00 EUR
38.42 EUR	2,766.24 EUR
38.38 EUR	29,552.60 EUR
38.36 EUR	87,690.96 EUR
38.70 EUR	4,798.80 EUR
38.68 EUR	10,443.60 EUR
38.60 EUR	55,120.80 EUR
38.58 EUR	18,248.34 EUR
38.52 EUR	19,260.00 EUR
38.40 EUR	3,456.00 EUR
38.02 EUR	273,173.70 EUR

d) Aggregated information

Price	Aggregated volume
38.3182 EUR	713,294.04 EUR

e) Date of the transaction

2023-11-10; UTC+1

f) Place of the transaction

Name:	XETRA
MIC:	XETR

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:
First name:	Stefan
Last name(s):	Fuchs

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Disposal

c) Price(s) and volume(s)

Price(s)	Volume(s)
39.06 EUR	21,834.54 EUR
39.04 EUR	30,958.72 EUR
39.02 EUR	52,833.08 EUR
38.98 EUR	31,963.60 EUR
38.94 EUR	133,252.68 EUR
38.90 EUR	31,081.10 EUR
38.88 EUR	7,387.20 EUR
38.86 EUR	30,233.08 EUR
38.84 EUR	16,002.08 EUR
38.82 EUR	16,110.30 EUR
39.10 EUR	17,712.30 EUR
39.08 EUR	17,390.60 EUR
39.00 EUR	31,161.00 EUR
38.96 EUR	12,584.08 EUR
38.92 EUR	17,046.96 EUR

d) Aggregated information

Price	Aggregated volume
38.9626 EUR	467,551.32 EUR

e) Date of the transaction

2023-11-10; UTC+1

f) Place of the transaction

Name:	XETRA
MIC:	XETR

1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Ralph
Last name(s):	Rheinboldt

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

b) Initial notification

3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS SE

b) LEI

529900SNF9E1P5ZO4P98

4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE000A3E5D64

b) Nature of the transaction

Disposal

c) Price(s) and volume(s)

Price(s)	Volume(s)
38.9000 EUR	57,688.70 EUR
38.8600 EUR	31,398.88 EUR
38.9800 EUR	12,317.68 EUR
38.9600 EUR	4,285.60 EUR
38.9400 EUR	19,820.46 EUR
38.9200 EUR	30,746.80 EUR
38.8800 EUR	66,134.88 EUR

d) Aggregated information

Price	Aggregated volume
38.9003 EUR	222,393.02 EUR

e) Date of the transaction

2023-11-07; UTC+1

f) Place of the transaction

Name:	XETRA
MIC:	XETR

  Nine-month result driven by strong third quarter

• Sales revenues increased price-driven by 6% to EUR 2,698 million
• EBIT of EUR 313 million 12% above prior year
• Free Cashflow before acquisitions at EUR 330 million significantly above prior year
• Forecast for free cash flow before acquisitions raised to around EUR 380 million
  (previously: around EUR 300 million)

 FUCHS at a glance

in EUR million	9M 2023	9M 2022	Change	Change in %
Sales revenues (1)	2,698	2,542	156	6
Europe, Middle East, Africa	1,566	1,511	55	4
Asia-Pacific	738	706	32	5
North and South America	523	482	41	9
Consolidation	-129	-157	28	-
EBIT	313	280	33	12
Earnings after tax	219	199	20	10
Investments	50	42	8	19
Free cash flow before acquisitions	330	-31	361	-
Earnings per share in EUR
Ordinary share	1.61	1.42	0.19	13
Preference share	1.62	1.43	0.19	13
Employees as at September 30	6,261	6,094	167	3

1. By company location

“Following a good first half-year, in the third quarter we achieved a new record with EBIT of EUR 113 million. We thus close the first nine months with an EBIT of EUR 313 million, an increase of 12% compared to the previous year. The EMEA region contributed significantly to this success across all sub-regions. Our cash flow continues to develop very positively: uncertainties in the supply chain and the strong increase in raw material and consequently

also in sales prices had led to an increase in inventories and receivables as well as high cash outflows over the past two years. In the current year, we have turned the tide as expected. After nine months, we already record a free cash flow before acquisitions of EUR 330 million. On this basis, we are raising our forecast for free cash flow before acquisitions for 2023 to around EUR 380 million.

Geopolitically, in addition to the terrible war in Ukraine, a new crisis area has arisen in the Middle East. We condemn the terrorist attack by Hamas on Israel. We also see with horror the suffering of civilians in Israel and Gaza. It is difficult to judge from today's perspective which impact this will have on economic development in general and raw material and sales prices in particular. In addition, there is a strike in the automotive industry in the USA. Despite all the uncertainties, we confirm our turnover and EBIT forecast for the full year.”

Stefan Fuchs, Chairman of the Executive Board FUCHS SE

Business development in the Group

In the first nine months of 2023, FUCHS recorded sales revenues of EUR 2,698 million (2,542), which were 6% above the prior-year period.
Despite negative currency effects, sales revenues of the first nine months improved due to price adjustments from the prior year. EBIT also benefited from the price increases of the prior year and increased by EUR 33 million, or 12% compared to the prior-year period, to EUR 313 million.
At 11.6%, the EBIT margin was slightly above the level of the first nine months 2022.
Earnings after tax increased by 10% to EUR 219 million (199).
The earnings per share was EUR 1.61 (1.42) for the ordinary share and 1.62 (1.43) for the preference share.
Free cashflow before acquisitions was at EUR 330 million (-31) significantly above the prior-year figure and benefited despite higher investments from a release in net operating working capital.

Business development in the regions

At EUR 1,566 million (1,511), sales revenues in the EMEA region were 4% higher than in the first nine months of 2022, driven by price adjustments. EBIT rose by 26% to EUR 155 million (123). Germany, as well as Sweden, Great Britain, Italy and Poland contributed to the earnings increase.
The Asia-Pacific region increased sales revenues by 5% to EUR 738 million (706), due to higher selling prices. EBIT was slightly lower than the prior-year period at EUR 80 million (88) due to a restrained economic recovery in China.
The North and South America region recorded the highest sales revenues growth of 9% to EUR 523 million (482). Most of the growth was related to price adjustments. EBIT increased by 5% to EUR 62 million (59) despite slightly negative currency effects. Strikes in the automotive industry began to affect the business at the end of the third quarter.

Forecast for free cashflow before acquisitions raised

FUCHS thus continues to operate in a challenging environment with great uncertainties regarding economic development in general and changes in commodity prices in particular. The uncertain course of the war in the Middle East adds to these uncertainties. However, due to the very good first nine months, FUCHS is adjusting its forecast slightly for the overall year:

• Sales revenues: around EUR 3.6 billion
• EBIT: around EUR 390 million
• FVA: above the previous year (EUR 172 million)
• Free cash flow before acquisitions: around EUR 380 million
  (before: around EUR 300 million)

The global positioning and solid financial base remain robust, and FUCHS continues to focus on profitable growth and the implementation of FUCHS2025.

Mannheim, October 27, 2023

 

FUCHS SE

Public Relations

Einsteinstraße 11

68169 Mannheim

Tel. +49 (0)621 3802 1104

tina.vogel@fuchs.com 

www.fuchs.com/group 

 

The following information can be accessed via the Internet:

Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

 

About FUCHS

Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest

independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's approx. 6,200 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

 

Important note

This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS 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 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.

Focus on sustainability and children: FUCHS provides EUR 50,000 in sponsorship for twelve social projects in Mannheim

FUCHS SE, which operates globally in the lubricants industry, awarded the FUCHS Sponsorship Award for the twenty-fourth time on October 26, 2023. A total of EUR 50,000 will benefit a dozen projects in the company’s home city. First-time patron is Christian Specht, the new Lord Mayor of Mannheim.

"In recent years, the FUCHS Sponsorship Award has already enabled many exemplary projects, e. g. for children, senior citizens, migrants or people with physical or mental disabilities in our city," praises Lord Mayor Specht and emphasizes: "I find the approach of concentrating on smaller associations and initiatives, sustainable ideas and innovations particularly exciting." According to Stefan Fuchs, Chairman of the Executive Board of FUCHS SE, this focus enables funding that is particularly well suited to local needs. "With the selection of our projects this year, we were able to address a wide range of currently important topics," says Fuchs.

Almost 40 associations and initiatives applied, twelve of which were selected. The size of the donations granted is not an indication of the quality of the initiative, but reflects the amount required and requested for implementing the project.

This year, many associations and initiatives applied for the first time. Children and young people were a particular focus. "We also consider the work carried out by young people from Mannheim tending the war graves at the main cemetery absolutely worthy of support. Unfortunately, this issue is more topical than ever in these times of war," says Stefan Fuchs. This makes it even more important to keep this remembrance alive. With the initiative of “Volksbund Deutsche Kriegsgräberfürsorge” (German War Graves Commission), young people come into contact with war graves and individual fates and can develop a deeper understanding of the importance of peace and the culture of remembrance.

In selecting the projects, attention was also paid to the problems of older people facing illness or isolation, for example, and to work against discrimination and the needs of people in distress. Once again, there is one special prize each for a particularly innovative and a pioneering sustainability project.

The award for „Project of the Year – Sustainability” went to "Foodsharing Mannheim – gegen Lebensmittelverschwendung e.V.". With the aim of preventing food waste, the association has set up "fairteiler" distribution points at seven locations in Mannheim. These are publicly accessible shelves that can often be accessed around the clock where people can deposit and collect food. Due to their popularity and the wear this causes, the “fairteiler” distribution points need to be regularly repaired and cleaned. The funding is intended for a thorough restoration and upgrade of these distribution points.

The award for “Project of the Year – Innovation” went to “Malteser Hilfsdienst e.V. Mannheim” for its initiative "Reading dogs – dog-aided reading support for primary school children in Mannheim". Around a quarter of all fourth graders in Germany have reading problems and do not meet the minimum standard for reading comprehension required to lay the foundation for participating in society and achieving success at school and in the workplace. Following good experience with visits by trained dog-and-handler teams to kindergartens, primary school children in deprived areas of Mannheim will now also be able to read aloud to friendly dogs one-on-one in a relaxed atmosphere, increasing their learning success. The funding will also finance PR work for finding and training more dog-and-handler teams.

Music to accompany this year’s award ceremony will be provided by “Piya – Im Duo”. The young artist, a graduate of Mannheim's “Popakademie”, makes music that is "somewhere between chanson, jazz, indie, and pop", creating her own world and her very own genre.

For more information on the FUCHS Sponsorship Award and this year's award winners, visit: https://www.fuchs.com/group/technology-sustainability/corporate-citizenship/fuchs-sponsorship-award/

Mannheim, October 26, 2023

FUCHS SE
Public Relations
Einsteinstraße 11
68169 Mannheim
Tel. +49 (0)621 3802-1104

tina.vogel@fuchs.com
www.fuchs.com/group

 

Awarded as a pioneer for climate strategies: FUCHS SE receives Global Transition Award

FUCHS SE is the winner of the Global Transition Award 2023, which was presented by Handelsblatt together with its scientific partner right° on October 18, 2023. According to the jury, the world's largest independent supplier of innovative lubrication solutions is one of the pioneering German companies whose climate strategies are driving the transition to a 1.5 °C compliant economy.

This is the second time that FUCHS has received a prestigious sustainability award. After winning the German Sustainability Award 2016 as the most sustainable medium-sized company, FUCHS has now received the Global Transition Award 2023 in Düsseldorf. The award is presented by Handelsblatt, a renowned German-language business newspaper, together with its scientific partner right° and the other partners Capgemini and Techem. FUCHS is a leader in climate performance, the jury said. The company stands out for its comprehensive reports on all emissions sub-areas, as well as its ambitious target for reducing emissions inside and outside the factory gates (Scope 3 emissions). FUCHS aims to become a net zero company by 2040. This science-based objective is supported by close cooperation at global and local level. To achieve this, the Group is investing heavily in research & development, defossilization and innovative solutions, and is embedding the changes in a comprehensive strategy process that also places an emphasis on cultural change within the company.

"We are very pleased to receive this recognition and award for our commitment to climate neutrality as part of our FUCHS2025 transformation program," explains Stefan Fuchs, CEO of the FUCHS Group. "We see the award as an appreciation and an encouragement to consistently continue on our path. I am particularly proud of our 6,000 employees who are actively shaping our transformation. To drive this culture change, we have nominated so-called cultural scouts in each of our 56 subsidiaries who are committed to local culture change on the one hand, but also create an environment conducive to innovation."

Leading the way for the lubricants industry

Together with suppliers and industry associations, FUCHS develops standards and measures to quantify and certify sustainability along the entire value chain. The products themselves also enable greater sustainability for customers, both ecologically and economically. Because with FUCHS lubrication solutions, machines and processes in almost all industries and application areas run much more efficiently and save resources.

About the Global Transition Award

The Global Transition Award recognizes companies that actively contribute to a 1.5 °C compliant economy. In partnership with the climate tech company right°, the award honors companies that are helping to shape the transition to such a future and thus set a new climate standard in the German economy. Selected companies are evaluated based on their current and aspired climate performance and an analysis of their decarbonization strategies. Special recognition is given to companies that not only drive their own transformation, but also provide innovative solutions for others, thus decisively advancing the global transformation towards a climate-compliant reorientation.

About FUCHS

Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

Mannheim, October 19, 2023

FUCHS SE
Public Relations
Einsteinstraße 11
68169 Mannheim
Phone +49 621 3802-1104
E-Mail: tina.vogel@fuchs.com

 

The following information can be accessed via the Internet:
Global Transition Award: Global Transition Award › Together for a 1.5°C future
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

FUCHS opens new, state-of-the-art plant in Ba Ria-Vung Tau, Vietnam

The FUCHS Group, which operates globally in the lubricants industry, is opening a new plant in Ba Ria-Vung Tau, Vietnam. The investment of EUR nine million in the high-tech plant will enable FUCHS Vietnam to serve the growing demand for lubricants in this region and to respond faster to local market demands. In addition, the range of FUCHS products in Vietnam will be expanded and diversified to suit the strong growth potential of the Vietnamese market. The official inauguration ceremony took place on September 14, 2023.

State-of-the-art plant
The new plant covers an area of 20,000 m² and will be expanded in two construction phases, the first of which has already been completed. The modern plant consists of offices, laboratory, production and filling, a tank farm and a warehouse. Currently, the plant has a capacity of 20,000 tonnes per year, which can be expanded in the second construction phase. The high-performance production portfolio includes automotive oils, industrial oils, metal working fluids and products for the mining industry, which FUCHS Vietnam will be able to offer its customers from a single source in the future. Production will start in the fourth quarter of 2023.

Stefan Fuchs, Chairman of the Executive Board of FUCHS SE, appreciates the great importance of the new opening: "My thanks go to to our joint venture partner, Nguyen Mai Son, for his vision and unwavering commitment to FUCHS and the Vietnamese market. Without his support the construction would not have been possible. Our Vietnamese joint venture with the owner of STD & S Co., Ltd. has paved the way for the FUCHS Group in this important market and laid the foundation for another important base in Asia."

Daniel Henn, Managing Director FUCHS Vietnam, adds: "This is a historic moment for FUCHS Vietnam. We are celebrating the expansion of our global presence and the strengthening of our local capabilities here at the right time, as Vietnam is an emerging market with great growth potential and plays a key role in diversifying supply chains. We are excited to be part of Vietnam's promising future with our new plant, while providing even better product solutions and services to our customers."

FUCHS active in Vietnam since 2013
FUCHS has been active in Vietnam with a sales office since 2013. In 2021, the FUCHS Group acquired 70% of the lubricants business of STD & S Co., Ltd., a distributor of specialty lubricants based in Vietnam. The business was integrated into the subsidiary FUCHS LUBRICANTS VIETNAM COMPANY LTD. in which the owner of STD & S Co., Ltd. holds a 30% share. By the end of 2023, FUCHS LUBRICANTS VIETNAM will increase its workforce to 35 employees. In the fiscal year 2022 the company achieved sales in the mid single-digit million range.
 

Mannheim, September 14, 2023 

FUCHS SE
Public Relations
Einsteinstraße 11, 68169 Mannheim
Phone +49 621 3802-1104
E-Mail: tina.vogel@fuchs.com

The following information can be accessed via the Internet:
Press release 2021: “FUCHS strengthens presence in Vietnam through joint venture“
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/ 

 

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

 

Important note
This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS 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 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.

FUCHS further intensifies activities in South America and takes over 100% of FUCHS LUBRICANTS SpA in Chile

The FUCHS Group, which operates globally in the lubricants industry, expands its presence in South America with the full acquisition of FUCHS LUBRICANTS SpA in Chile. On September 1, 2023, the joint venture seamlessly transitioned into a wholly owned subsidiary of the FUCHS Group.

FUCHS LUBRICANTS SpA was founded in 2018 when FUCHS acquired the lubricants business of Comercial Pacific Ltda. in Chile and integrated it into the newly founded company – with FUCHS holding 65% of the shares at that time and Comercial Pacific Ltda. the remaining 35%.

“We thank our joint venture partner Andre Boeck and the team of Comercial Pacific for our successful time together. With Chile being an important lubricant market in South America, this transaction is another milestone on our journey to further strengthen our business activities in the Southern part of the Americas,” states Dr. Timo Reister, Member of the Executive Board at FUCHS and responsible for the North and South America region.

Yasser Majluf, Managing Director of FUCHS Lubricants SpA in Chile, adds: “The Chilean lubricant market offers significant potential for FUCHS. We see a strong trend towards high performance lubricants. With our growing local FUCHS team in Chile, we are happy to support our expanding customer base in segments like mining, food, wind power and automotive.”

Mannheim, September 4, 2023

FUCHS SE
Public Relations
Einsteinstrasse 11
68169 Mannheim
Tel: +49 (0)621 3802-1104
E-mail: tina.vogel@fuchs.com
 

The following information can be accessed via the Internet:

Press release 2018: “FUCHS strengthens presence in South America with the acquisition of the lubricants business from Comercial Pacific Ltda., Chile“ 

Image and video material: https://www.fuchs.com/gb-en/photo-gallery/ 

 

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.