Fuchs Petrolub AG / Key word(s): Quarter Results

03.11.2010 07:00

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Profit after tax for the first nine months of the year increased to EUR
132.7 million

- Sales revenues back to the 2008 level
- Profitability of the first half of 2010 virtually maintained
- Profit after tax increased to EUR 132.7 million

The first nine months of 2010 at a glance


(1) By company location
(2) In property, plant and equipment and intangible assets

Performance
The FUCHS PETROLUB Group continued its strong growth in sales revenues in
the third quarter of 2010. At EUR 1,083.5 million, revenues enjoyed a 24.1%
increase for the first nine months of the year over the same period of the
previous year (873.2). Consequently, the then highest nine-month figure of
2008 (1,083.5) was equaled again. The strong growth, which lifted Group
sales revenues back up to their pre-crisis level, was driven in particular
by the regions Asia-Pacific, Africa and North and South America.

Together with the pronounced growth in sales revenues, the FUCHS PETROLUB
Group also significantly improved its earnings position. It was therefore
possible to continue the strategy of profitable growth.

At EUR 427.3 million, gross profit was 27.5% or EUR 92.2 million up on the
same period from last year (335.1). Selling and distribution,
administration and research & development expenses increased by only 12.1%
or EUR 26.1 million to a level of EUR 241.0 million (214.9), which means
they increased at a lower rate than sales revenues. After taking into
account other operating income and expenses, as well as investment income,
the Group recorded earnings before interest and tax (EBIT) of EUR 190.8
million (122.7). Profit after taxes in the first nine months of 2010
increased by 62.2% to EUR 132.7 million (81.8).

Capital expenditure and investments in companies
In the first nine months of 2010, the FUCHS PETROLUB Group made investments
in property, plant and equipment and intangible assets of EUR 21.6 million
(22.1). The key investment focuses here were the purchase of property in
South Africa and the construction of a new facility in India, as well as
construction of a new R&D center and a new sales center in Mannheim. Staff
moved into the sales center in the third quarter, and the facility in India
will be up and running in December of this year.

Employees
As at September 30, 2010, the global workforce of the FUCHS PETROLUB Group
consisted of 3,538 employees, which is 50 more than at the start of the
year (3,488). The new appointments were especially made at the companies in
the regions of Asia-Pacific and South America, which have been enjoying
healthy growth.

Outlook
The Group expects to see a sound business development in the fourth quarter
of 2010. However, the downward trend in the gross margin shows that the
increases in raw material prices are also having an effect.

For the full year, the Group is aiming to generate earnings before interest
and tax (EBIT) of around EUR 240 million with sales revenues of
approximately EUR 1.4 billion. FUCHS therefore expects to achieve the
highest EBIT in the Group's history in 2010. In light of the sound earnings
position, the Group will generate considerable free cash flow. This in turn
will allow strategically important investments to be financed internally.
Investments in research and development, as well as in growth markets will
continue as scheduled.

Mannheim, November 3, 2010

FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Germany
Tel.: ++49 (0) 621 3802-1124

The information below can be accessed at the following web addresses:

Press release:
http://www.fuchs-oil.com

Quarterly report for the first nine months of the year and for the third
quarter:
http://www.fuchs-oil.de/qr_ninemonths.html

Press photos:
http://www.fuchs-oil.de/photogallery0.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
agree with the assumptions and estimates set out in this press release and
assumes no liability for such.


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Language: English
Company: Fuchs Petrolub AG
Friesenheimer Str. 17
68169 Mannheim
Deutschland
Phone: +49 (0)621 / 3802-0
Fax: +49 (0)621 / 3802-190
E-mail: contact-de.fpoc@fuchs-oil.de
Internet: www.fuchs-oil.de
ISIN: DE0005790406, DE0005790430
WKN: 579040, 579043
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Hamburg, München, Berlin, Düsseldorf

End of Announcement DGAP News-Service

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