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/

  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

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.

  FUCHS successfully concludes first half-year

• Sales revenues increased price-driven significantly by 11% to EUR 1,822 million
• EBIT of EUR 200 million 11% above prior year
• Free Cashflow before acquisitions at EUR 164 million significantly above prior year
• Forecast for free cash flow before acquisitions raised to around EUR 300 million
  (previously: around EUR 250 million)

 FUCHS at a glance

1. By company location

“After a good first quarter, with an EBIT of EUR 97 million we also achieved our plan in the second quarter. The first half of the year saw an 11% increase in EBIT, reaching EUR 200 million, putting us on track to meet our full-year forecast. Mainly the EMEA region, with contributions from a variety of countries showed significant growth compared to previous year, with contributions from many countries. We are especially pleased with the positive development in the Nordic region.

In the past two years, we faced substantial increases in raw material costs and availability issues, resulting in a significant rise in inventories and receivables. During the first half of this year, we managed to turn this trend around, leading to an overall free cash flow before acquisitions of EUR 164 million. Based on this performance, we are raising our forecast for free cash flow before acquisitions to around EUR 300 million. We are moving forward with confidence despite the well-known market volatility. At the same time, we are investing in our future, particularly focusing on digitalization.”

Stefan Fuchs, Chairman of the Executive Board FUCHS SE

Business development in the Group

In the first six months of 2023, FUCHS recorded sales revenues of EUR 1,822 million (1,640), which were 11% above the prior-year period.
Growth in all regions was predominantly driven by price increases of the prior year, while all regions recorded negative currency effects.
EBIT also benefitted from the price increases of the prior year and increased by EUR 20 million or 11% to EUR 200 million, compared to the prior-year period.
At 11.0%, the EBIT margin was on level of the first half of 2022.
While both regions, EMEA and North and South America, increased their EBIT, the Asia-Pacific region recorded a slight decline.
Earnings after tax increased by 9% to EUR 141 million (129).
The earnings per share was EUR 1.03 (0.92) for the ordinary share and 1.04 (0.93) for the preference share.
Free cashflow before acquisitions was at EUR 164 million (0) significantly above the prior-year figure and benefited despite higher investments from a lower built-up in net operating working capital.

Business development in the regions

At EUR 1,067 million (987), sales revenues in the EMEA region were 8% higher than in the first six months of 2022, driven by price increases. EBIT rose by 18% to EUR 99 million (84). Germany, Great Britain, Italy, Poland and in particular Sweden contributed to the earnings increase.

The Asia-Pacific region increased sales revenues by 8% to EUR 491 million (454), driven by price increases. EBIT was slightly lower than the prior-year period at EUR 52 million (55) due to a restrained economic recovery in China.

The North and South America region recorded the highest sales revenues growth of 17% to EUR 352 million (300). EBIT increased by 11% to EUR 39 million (35) due to the positive business development, especially in the USA and Brazil, despite slightly negative currency effects.

Forecast for free cashflow before acquisitions raised

FUCHS continues to operate in a highly volatile environment. Uncertainty with regard to the economic development as well as raw material and thus also sales prices must be taken into account. Due to a positive development of funds tied up in net operating working capital, FUCHS is slightly adjusting its forecast for free cash flow before acquisitions:

• 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 300 million
  (before: around EUR 250 million)

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

Mannheim, July 28, 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 6,100 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 PETROLUB SE becomes FUCHS SE

FUCHS PETROLUB SE will be operating under the name of FUCHS SE in future. The resolution to change the name was passed at the Annual General Meeting on May 3, 2023.

"The term PETROLUB refers to the origin of the raw materials and is of no relevance today either in brand communication or in the company names of the Group companies, and it can lead to a misconception of our business model," explains Chief Technology Officer Sebastian Heiner. FUCHS has been focusing for a long time on the development, manufacture and distribution of highly efficient lubrication solutions for the operation of equipment and machinery. In light of increasing technical requirements and sustainability efforts, the focus is on high-performance raw materials from sustainable sources, which is why the name component PETROLUB is no longer appropriate. In addition, the word PETROLUB is not part of the company name of the 56 FUCHS subsidiaries worldwide and is therefore not an issue from the customer's point of view.

"As a high-tech company, we want to expand our technology leadership in strategically important application areas, be it in the fields of digitalization, future mobility or sustainability. With the current renaming, we are underlining our focus on advanced, process-oriented and holistic solutions for lubricants and functional fluids," says CEO Stefan Fuchs.

Today, the FUCHS product portfolio comprises more than 10,000 products in almost all industry segments, including novel functional fluids such as thermofluids, which regulate the temperature in the drive of electric cars or are also used in large data centers.

The renaming to FUCHS SE is expected to take place on July 3, 2023.

Mannheim, May 3, 2023

FUCHS PETROLUB 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:
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.

  FUCHS starts into the year 2023 successfully

• Sales revenues increased price-driven significantly by 16% to EUR 936 million
• EBIT of EUR 103 million 11% above prior year
• Free Cashflow before acquisitions at EUR 52 million significantly above prior year
• Forecast 2023 confirmed

 FUCHS at a glance

1. By company location

“With EBIT at EUR 103 million, we have started the new year very well. The necessary price adjustments in the course of 2022 due to sharply rising raw material costs and high inflation rates take effect and enable an increase in gross profit year-on-year and also cover the inflation-related cost increases, particularly in the areas of energy, personnel and freight costs. In total, FUCHS improved its EBIT in the first quarter by EUR 10 million or 11% year-on-year. The largest contribution to this increase in earnings was made by the EMEA region, with an increase of EUR 6 million, or an impressive 14%. In addition, North and South America also saw business growth and an increase in earnings of EUR 2 million or 12%. In the Asia-Pacific region, on the other hand, the covid-19-related difficult start to the year in China put a strain on the development of the region, resulting in a slight decline in earnings of EUR 1 million or 3%.
Based on the very good first quarter, we look forward to the coming months with confidence. At the same time, there are continuing uncertainties regarding the further development of the economic environment and the development of raw material prices. Overall, we confirm our forecast for the full year and anticipate an EBIT of around EUR 390 million.”

Stefan Fuchs, Chairman of the Executive Board FUCHS PETROLUB SE

Business development in the Group

In the first three months of 2023, FUCHS recorded sales revenues of EUR 936 million (808), which were 16% above the prior-year period.
The growth of all regions was mainly price-driven, positive currency effects of the region North and South America could not fully compensate for negative currency effects of the regions EMEA and Asia-Pacific.
The EBIT benefitted from the price increases of the prior year and increased by EUR 10 million or 11% to EUR 103 million, compared to the prior-year period.
At 11.0%, the EBIT margin was below the prior-year level (11.5) but increased by 1.2 percentage points compared to the fourth quarter 2023.
While both regions, EMEA and North and South America, increased their EBIT, the Asia-Pacific region recorded a slight decline.
Earnings after tax increased by 9% to EUR 73 million (67).
The earnings per share was EUR 0.54 (0.48) for both, the ordinary and the preference share.
Free cashflow before acquisitions was at EUR 52 million (13) significantly above the prior-year figure and benefited despite higher capital expenditure from a lower built-up in net operating working capital.

Business development in the regions

At EUR 552 million (481), sales revenues in the EMEA region were 15% higher than in the first three months of 2021, driven by price increases. EBIT rose by 14% to EUR 50 million (44). Germany, Sweden, the United Kingdom and Poland in particular contributed to the earnings increase.
The Asia-Pacific region increased sales revenues by 6% to EUR 252 million (237), driven by price increases. EBIT was slightly lower than the prior-year quarter at EUR 28 million (29) due to a slow start to the year in China.
The North and South America region recorded the highest sales revenues growth of 28% to EUR 181 million (141). The entire region benefited from price increases and positive business development. EBIT increased slightly to EUR 19 million (17) due to the positive business development and positive currency effects.

Forecast confirmed

FUCHS continues to operate in a highly volatile environment. Uncertainty with regard to the economic development as well as raw material and thus also sales prices must be taken into account. Based on a very good first quarter, we maintain our forecast for the full year:

• Sales revenues: approx. EUR 3.6 billion
• EBIT: approx. EUR 390 million
• FVA: above the previous year (EUR 172 million)
• Free cash flow before acquisitions: around EUR 250 million

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

Mannheim, April 28, 2023

FUCHS PETROLUB 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 6,100 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 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 press release and assumes no liability for such.