- Sales revenues up 10% and EBIT up 11%
- Dividend to be increased to EUR 1.30 per preference share
FUCHS PETROLUB AG, with global operations in the lubricant business, set new record levels both for sales revenues and earnings. Sales revenues increased by 10% to EUR 1,819 million. Earnings before interest and tax (EBIT) and profit after tax both recorded disproportionately high gains. EBIT rose 11% to EUR 293 million, while profit after tax increased 13% to EUR 207 million.
The Group generated free cash flow of around EUR 140 million and further strengthened its balance sheet. All figures are still provisional.
The Executive Board at FUCHS PETROLUB AG has therefore decided – subject to approval of a corresponding resolution by the Supervisory Board on March 19, 2013 – to propose a dividend of EUR 1.30 per preference share and EUR 1.28 per ordinary share for the financial year 2012 to the Annual General Meeting scheduled for May 8, 2013. This would correspond to an increase of 30% for the preference share.
Working to the premise that, despite the known issues, the global economy will enjoy positive development in 2013, FUCHS is planning to further increase its sales revenues and earnings for the financial year 2013. However, FUCHS will not be able to repeat the high growth rates recorded in previous years.
The complete financial statements for 2012 will be published on March 20, 2013 and presented during the balance sheet press conference.
Key figures of the Group
| Amounts in EUR million | 2012 (1) | 2011 (2) |
|---|---|---|
| Sales revenues | 1,819 | 1,652 |
| EBIT | 293 | 264 |
| Profit after tax | 207 | 183 |
| Earnings per share in EUR | ||
| Ordinary share | 2.90 | 2.56 |
| Preference share | 2.92 | 2.58 |
| Dividends in EUR | ||
| Ordinary share | 1.28 (3) | 0.98 |
| Preference share | 1.30 (3) | 1.00 |
| Free cash flow | 140 | 59 |
| Employees (December 31) | 3,773 | 3,669 |
(1) Provisional figures
(2) Comparable
(3) Proposal of the Executive Board
Mannheim, February 22, 2013
FUCHS PETROLUB AG
Public Relations
Friesenheimer Straße 17
68169 Mannheim, Germany
Tel.: 0049-(0)621-3802-1104
E-mail: tina.vogel@fuchs-oil.de
The information below can be accessed at the following web addresses:
Press release:
www.fuchs-oil.com
Press photos:
www.fuchs-oil.com/pressphotos1.html
Important note
This press release contains statements about future developments 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 in 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 match the assumptions and estimates set out in this press release and assumes no liability for such.