Ad hoc: Fuchs: Profit rises as result of growth in sales revenues and a more efficient cost structure within an environment heavily affected by higher raw material costs

Ad hoc: Fuchs: Profit rises as result of growth in sales revenues and a more efficient cost structure within an environment heavily affected by higher raw material costs

The positive development of sales revenues continued in the third quarter of 2004 for international lubricant company FUCHS PETROLUB AG in Mannheim. With internal growth of 7.6 % and external growth of 0.6 %, the FUCHS PETROLUB Group achieved a 5.8% increase in sales revenues to reach €830.8 million (785.5) over the first nine months of 2004, despite negative currency translation effects (-2.4%). The Group also continued its successful course in terms of earnings, reaching the highest net profit after taxes within a single quarter so far with a total of €11.0 million (9.5). At €29.9 million (22.7), profit for the first nine months thus exceeded last year's figure by 31.7%. Earnings per ordinary and preference share for the nine months were €4.48 and €4.60 (3.96 and 4.09) respectively before scheduled goodwill amortization. Burdens on the purchasing side increased in the third quarter of 2004. In addi-tion to considerable price increases for base oils, there were also significant rises for addi-tives, packaging materials and energy and transport costs. Not least because of the excellent profit of the first nine months the Group confirms its previous forecast of achieving a double-digit increase in net profit for the entire year 2004.
Mannheim, 15 November 2004 FUCHS PETROLUB AG Öffentlichkeitsarbeit Friesenheimer Str. 17 68169 Mannheim Tel.: ++49 (0) 621 3802 - 105 The ad-hoc announcement is also available on the Internet at www.fuchs-oil.de. Important note This Ad hoc-release 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 Ad hoc-release and assumes no liability for such. <- Back to: Ad hoc