Ad hoc: FUCHS achieves above-average growth against the trend within the industry sector
The global lubricants supplier FUCHS PETROLUB AG in Mannheim concluded the first half of 2004 against the trend within the industry sector with an above-average growth in sales. At 7.0 %, internal growth proved to be a particular highlight. Nominal sales growth was 5.0 %, thus in total sales in the first six months amounted to €548.9 million (522.5). The Group continued its positive profit development in the second quarter of 2004. At €9.7 million (7.1), FUCHS achieved the highest yet net profit before minority interest within a single quarter. For the entire half-year too, the Group reached a record profit after taxes of €18.9 million (13.2). The earnings per ordinary and preference share are €2.30 and €2.39 (1.71 and 1.80). Before scheduled goodwill amortization, the corresponding earnings are €2.84 and €2.93 (2.43 and 2.52). Despite the burden on the purchasing side the Group is aiming for a double-digit profit increase for the entire year 2004. Base-related, the 43.2% rate of increase in the first half of 2004 will, however, not continue in the second half of 2004.
Mannheim, 17 August 2004 FUCHS PETROLUB AG Öffentlichkeitsarbeit Friesenheimer Str. 17 68169 Mannheim Tel.: ++49 (0) 621 3802 - 105 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.