The globally operating lubricants producer FUCHS PETROLUB AG in Mannheim, Germany, finished 2002 with a sizable increase in sales and the highest consolidated profits in its history. This uptrend continued into January and February of 2003.
In the past business year, sales exceeded one billion euros for the first time, growing by € 125 mn or 13.3 % to reach € 1,065 mn (940). Internal growth came to 5.8 %, since the quantities sold showed a substantial rise, especially in Asia. By contrast, worldwide demand for lubricants increased during 2002 by a mere 0.3 % in real terms. A significant contribution to sales came from external growth (+11.3 %), with a particular boost from first-time full consolidation of FUCHS EUROPE SCHMIERSTOFFE GMBH (+ € 97.6 mn), while currency translation reduced the sales figure by € 36.1 mn (-3.8 %).
Consolidated profits after tax, which in the first nine months of 2002, after goodwill amortization of € 11.4 mn affecting earnings in full, were up by more than 150 % to reach € 19.0 mn (7.5), increased still further in the fourth quarter of 2002, so that in the past business year the group achieved by far the best result in its entire history. The definitive figures will be published on 15 April.
In the first two months of the ongoing business year, sales came to € 173.4 mn, and were thus, despite substantial effects from currency translation, still at last year's level (173.2). Adjusted for currency translation factors, internal growth came to 6.7 %, external growth to 1.3 %. Monthly results have continued to be good.
Mannheim, 18 March 2003
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
D-68169 Mannheim
Tel.: +49 (0) 621 3802-104