Ad hoc: With new record earnings FUCHS proposes increased dividends
In 2003 the globally operating lubricant producer FUCHS PETROLUB AG in Mannheim, Germany, achieved again the best result in the group's history. Despite the demanding macro-economic situation the strategic concept combining growth with focussing and specialization led to a gratifying development. Sales revenues reached € 1,040.9 million, operative profits rose to a record value of € 93.2 million (90.7) and the consolidated net income for the year increased by 28.2 % to € 30.9 million (24.1). The total return on capital was upped to 17.4 %. After several years of high investment rates capital expenditure on tangible and intangible assets was reduced to € 18.7 million (28.8). The worldwide workforce increased to 4,220 (4,081) persons, essentially due to consolidation factors. FUCHS PETROLUB AG reported a net income of € 28.5 million for 2003, and will be proposing to the shareholders a dividend increase of € 0.10 to € 1.56 per ordinary share and € 1.73 per preference share. In the first quarter of 2004 the group achieved total revenues of € 266.9 million (263.4). For the current year the group is confident to continue to increase profits further in 2004 despite the continually difficult environment. Mannheim, 23 April 2004 FUCHS PETROLUB AG
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The press release is also available on the Internet under www.fuchs-oil.de. Important note This Press Information contains statements about future development that are based on assumptions and estimates by the management of FUCHS PETROLUB AG. Even if the management is of the opinion that these assumptions and estimates are accurate, future actual developments and future actual results may differ significantly from these assumptions and estimates due to a variety of factors. These factors can include changes to the overall economic climate, changes to exchange rates and interest rates and changes in the lubricants industry. FUCHS PETROLUB AG provides no guarantee that future developments and the results actually achieved in the future will agree with the assumptions and estimates set out in this press release and assumes no liability for such.