- Organic growth of 4.0% – only slight increase in sales revenues due to currency effects
- Earnings before interest and tax (EBIT) up 6.6% to EUR 312.3 million
- Dividend to be increased to EUR 1.40 per preference share
The financial year 2013 at a glance
| (Amounts in EUR million) | 2013 | 2012 |
|---|---|---|
| Sales revenues (1) | 1,831.6 | 1,819.1 |
| Europe | 1,104.2 | 1,080.7 |
| Asia-Pacific, Africa | 497.9 | 486.8 |
| North and South America | 307.3 | 320.3 |
| Consolidation | -77.8 | -68.7 |
| Earnings before interest and tax (EBIT) | 312.3 | 293.0 |
| Profit after tax (2) | 218.6 | 207.0 |
| Earnings per share in EUR | ||
| Ordinary share | 3.06 | 2.90 |
| Preference share | 3.08 | 2.92 |
| Dividend proposal/dividends in EUR | ||
| Ordinary share | 1.38 | 1.28 |
| Preference share | 1.40 | 1.30 |
| Free cash flow | 149.9 | 140.4 |
| Investments in long-term assets | 72.8 | 71.4 |
| Employees (December 31) | 3,888 | 3,773 |
(1) By company location
(2) Previous year's figures adjusted, see "Application of new accounting standards" in the notes to the consolidated financial statements
Performance
FUCHS PETROLUB SE, with global operations in the lubricant business, enjoyed a successful year in 2013.
Despite significant negative currency effects, FUCHS PETROLUB increased Group sales revenues by EUR 12.5 million or 0.7% to EUR 1,831.6 million (1,819.1). Organic growth was 4.0%. FUCHS PETROLUB was able to increase lubricant volumes in all three global regions.
The Group also successfully continued its earnings growth. Earnings before interest and tax (EBIT) and profit after tax both recorded disproportionately high gains. EBIT rose 6.6% to EUR 312.3 million (293.0), and profit after tax increased by 5.6% to EUR 218.6 million (207.0).
Earnings per ordinary and preference share increased to EUR 3.06 and EUR 3.08 respectively, which represents a year-on-year increase of around 5.5%.
Dividends
The Executive Board and Supervisory Board of FUCHS PETROLUB SE will propose a dividend of EUR 1.40 per preference share and EUR 1.38 per ordinary share for the financial year 2013 to the Annual General Meeting scheduled for May 7, 2014. This would represent an increase of almost 8%.
Capital expenditures
FUCHS PETROLUB invested EUR 72.8 million (71.4) in the reporting year. The investments therefore remained at the same high level as the previous year.
The largest investment in property, plant and equipment in 2013 was made in China. The new facility in Yingkou in Northeastern China was opened at the end of October and takes over production from the old site, which had been outgrown. A further key investment by FUCHS was made in its facility in Harvey near Chicago, where the production site has been significantly extended and modernized. A third milestone was the opening of the facility in Kaluga to the south west of Moscow. In Brazil, preparatory work for construction of a facility is well underway. Construction work is scheduled to commence in 2014. Meaningful funds were also invested into the existing infrastructure in Germany as well as in Melbourne, Australia with a view to modernizing and extending existing facilities.
Employees
As at December 31, 2013, the FUCHS PETROLUB Group employed 3,888 people worldwide (3,773). The total number of employees therefore increased by 115 or 3.0% compared to the previous year. The largest increase was in the Europe region, where the workforce increased by 55 year-on-year (+2.3%). Compared with the end of 2012, 35 more people (+4.2%) were employed in the Asia-Pacific, Africa region and 25 more people were employed in North and South America (+4.7%).
Outlook
The FUCHS PETROLUB Group intends to continue its growth initiative in 2014 and thereby achieve further increases in sales volumes and revenues. Based on forecasts predicting higher growth of the global economy for 2014 over 2013, the Group anticipates organic growth in the low single-digit range for 2014. Moreover, the Group also plans to increase its earnings before interest and tax (EBIT) and profit after tax in the low single-digit range.
Mannheim, March 20, 2014
FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Germany
Tel: +49 (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
Annual report 2013:
www.fuchs-oil.com/annual_report13.html
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 SE. 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 SE 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.