Notwithstanding a less-than-favorable market and business environment, the globally operating lubricant producer FUCHS PETROLUB AG in Mannheim/Germany continued to perform successfully over the first half of the year: consolidated sales were up by 7.9 % to € 478 m (443) and operating profits, at € 30.7 m (31.3), were maintained at almost the same level. Compared to the first half of 2000, however, turnover and price factors meant that a higher level of working capital had to be financed, and acquisitions were reflected in increased interest expenses, entailing a drop in mid-year net income of 16.9 % to € 8.5 m (10.2), while the cash flow and the inflow of funds from current operating activities showed an increase. At € 14.1 m, capital expenditures during the first half of the year were € 0.9 m up on the previous year (13.2). The group was employing 3,938 people on 30 June.
Mannheim, 31 August 2001
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
D-68169 Mannheim
Tel.: +49(0)6 21 38 02 - 104