Ad hoc: Strong growth in sales and earnings
FUCHS PETROLUB AG, a global lubricants supplier, has significantly increased its sales revenues and earnings during the past financial year. According to provisional figures, the Group achieved after-tax earnings of €74.2 million, representing a significant increase over the previous year and marking the fourth successive year in which the Group has produced a double-digit increase in earnings. The figure for the prior year, which was adjusted to take into account planned goodwill amortization, was €48.7 million. Without taking into account the profit from the sale of land that was no longer required (€ 6.4 million after tax or €7.6 million pre-tax), this represents a 39% increase in earnings. Earnings before interest and tax (EBIT) were €128.8 million. On an adjusted basis, this represents an increase of 28%. The Group's sales revenues grew by 8.7% in 2005, reaching €1,192.2 million (1,096.3). All figures are still provisional.
FUCHS benefited from favorable industrial market development worldwide and from strict internal cost management. All regions contributed to the positive development of the business. In addition, the absence of any notable restructuring costs also contributed to the increased earnings as did an improved financial result and a lower tax rate. FUCHS PETROLUB will present the complete annual financial report for 2005 on April 3rd, 2006 and will comment on it as part of the balance-sheet press conference. Mannheim, 2 March 2006 FUCHS PETROLUB AG Public Relations Friesenheimer Str. 17 68169 Mannheim Phone: (0621) 3802 - 105 The press release can also be found on the Internet at 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.