The globally operating lubricants producer FUCHS PETROLUB AG in Mannheim, Germany, performed successfully during the first quarter of 2002, with both sales and profits developing well. At the same time, the group has changed over to International Accounting Standards (IAS), thus enhancing the transparency of its reporting work and ensuring improved comparability in the context of international competition. Sales rose by 13.1 % to reach EUR 265.7 m (234.9), operating profits by 23.4 % to EUR 19.5 m (15.8), and the net income for the quarter, at EUR 4.6 m (3.4), was up by 35.3 %. Goodwill was for the first time amortized in full pro rata temporis against profits in accordance with International Accounting Standards (IAS). The quarterly earnings per share increased to EUR 3.0 (2.4) before and EUR 1.8 (1.3) after goodwill amortization.

Mannheim, 31 May 2002