FUCHS PETROLUB achieves its sixth successive record earnings performance and is proposing a substantial dividend increase
- Earnings increase by more than 20%
- Planned dividend increase by €0.50 to €1.50 per preference share
In the 2007 financial year, FUCHS PETROLUB AG, which operates globally in the lubricants business, achieved its sixth successive record earnings performance. Sales revenues increased by 3.2% to €1,365.3 million (1,323.3). Earnings before interest and tax (EBIT) rose more than proportionately by 21.1% to €195.2 million (161.2). In line with this, profit after tax increased to €120.3 million (97.2). All figures are still preliminary.
Strong cash flow in 2007 allowed FUCHS to buy back 3% of its own shares, to pay an attractive dividend and to further strengthen the balance sheet ratios.
The Executive Board of FUCHS PETROLUB AG therefore has decided - subject to a corresponding decision of the Supervisory Board on 27 March 2008 - to propose for the 2007 financial year a dividend of €1.50 per preference share and €1.44 per ordinary share to the annual general meeting taking place on 6 May 2008. For the preference share, this would be equivalent to an increase of 50%.
The FUCHS PETROLUB Group believes that it is well positioned in the market and looks positively to the future. Anticipating that economic trends in Europe and Asia remain positive, FUCHS aims to further grow sales and EBIT in 2008. With regard to EBIT the high growth rates seen in previous years will not be perpetuated. The tax reform in Germany and the continued buyback of shares should additionally benefit the earnings per share.
The complete annual financial statements for 2007 will be presented and elaborated on during the annual press conference, on 28 March 2008.
Key figures for the Group
| 20071) | 2006 | |
|---|---|---|
| Umsatz | 1.365,3 Mio Euro | 1.323,3 Mio Euro |
| EBIT | 195,2 Mio Euro | 161,2 Mio Euro |
| Ergebnis nach Steuern | 120,3 Mio Euro | 97,2 Mio Euro |
| Dividende | ||
| - je Vorzugsaktie - je Stammaktie | 1,50 2) Euro 1,44 2) Euro | 1,00 Euro 0,94 Euro |
2) Proposal of the Executive Board
Mannheim, 22 February 2008
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Phone: ++49 (0) 621 3802 - 105
The ad hoc message can also be found on the Internet at www.fuchs-oil.com.
Important note
This ad hoc message 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 message and assumes no liability for such.