The globally operating lubricant producer FUCHS PETROLUB AG in Mannheim, Germany, in 2002 achieved the best result in the group's history. It thus successfully bucked the general trend, which has been characterized by a weak or declining business cycle, general uncertainties in the run-up to the Iraq war, and since the middle of last year by substantial rises in input material prices. Sales rose by 13.3 % to reach EUR 1,065 million (940), operating profits by 42.2 % to EUR 90.7 million, and the consolidated net income for the year by 172.5 % to EUR 24.1 million (8.8). The total return on capital was upped to 15.5 %. Capital expenditure on tangible and intangible assets came to EUR 28.8 million, and was thus at the preceding year's level of 28.7. The worldwide workforce increased, due essentially to consolidation factors, to 4,081 employees. FUCHS PETROLUB AG reported a net income of EUR 16.8 million for 2002, and will be proposing to the shareholders an increase of EUR 0.50 in the dividends, to EUR 4.37 per ordinary share and EUR 4.88 per preference share. For the current year, the group anticipates sales of about EUR 1.1 billion, and, subject to any further effects of the war in Iraq, a good earnings situation.
Mannheim, 15 April 2003