The globally operating lubricant producer FUCHS PETROLUB AG in Mannheim, Germany, remained successful in 2001 despite all macro-economic problems and a substantial decline in overall demand for lubricants. Sales and consolidated operating profits were increased. The uptrend is set to continue during 2002.
Sales rose in 2001 by 4.2 % to EUR 940.0 m (902.0). Internal growth was 3.7 %. Acquisitions contributed 1.4 %, while currency translation effects accounted for -0.9 %.
Above-average growth rates were achieved in Central and Eastern Europe, and in Asia-Pacific Rim.
Demand for lubricants worldwide, though, was down by 1.9 % in real terms. In Western Europe, the market even shrank by 3.9 %, and in North America by 7.4 %.
Consolidated operating profits were up on the preceding year. Europe, plus North and Latin America, remained the most profitable areas for the group in 2001 as well, though Asia-Pacific Rim's figures continued to rise.
At the end of 2001, the group was employing 3,871 people (3,952) worldwide, 931 of them in Germany and 2,940 abroad.
As was the case for the six and nine-month figures, consolidated net income will (as already announced) not reach the record level of 2000, due to higher exceptional items and interest charges.
At the end of 2001, FUCHS PETROLUB AG took over DEA's 50 % stake in the former FUCHS DEA SCHMIERSTOFFE. The firm now operates as a subsidiary (100 %) under the name of FUCHS EUROPE SCHMIERSTOFFE, and with a payroll of 520 expects sales of EUR 240 m in 2002.
Effective 1 January 2002, the group also purchased the FUCHS companies in Mexico and Russia.
Due to these acquisitions and internal growth, the group anticipates sales of EUR 1,060 m (940) in 2002, plus a rise in consolidated net income.
Sales in January and February 2002 came to EUR 174 m, 16 % up on the preceding year (150).
The stock market rewarded the group's good performance in 2001. The price for the ordinary shares rose by 11 %, and the preference shares were up by 10 %, although all the major stock market indexes were falling. And the share prices have continued to rise this year as well.
Mannheim, 27 March 2002
This press release is also available on the Internet under www.fuchs-oil.de.
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
D-68169 Mannheim
Tel.: +49(0)621/3802-104