The first six months of 2013 at a glance
| Amounts in EUR million | 1-6/2013 | 1-6/2012 |
|---|---|---|
| Sales revenues (1) | 910.3 | 910.0 |
| Europe | 547.2 | 541.0 |
| Asia-Pacific, Africa | 243.9 | 240.5 |
| North and South America | 155.0 | 161.4 |
| Consolidation | -35.8 | -32.9 |
| Earnings before interest and tax (EBIT) | 153.8 | 145.4 |
| Earnings after tax (2) | 107.6 | 101.8 |
| Earnings per share in EUR | ||
| Ordinary share | 1.51 | 1.42 |
| Preference share | 1.52 | 1.43 |
| Gross cash flow | 107.6 | 105.5 |
| Investments in long-term assets (3) | 33.6 | 33.4 |
| Employees (as at June 30) | 3,826 | 3,764 |
(1) By company location
(2) Previous year's figures adjusted, see "Application of new accounting standards" in the notes to the consolidated financial statements
(3) Intangible assets, property, plant and equipment and financial assets
The FUCHS PETROLUB Group recorded organic growth in sales revenues of 1.7% in the first six months of 2013. The positive changes in total sales, price and product mix were neutralized by currency translation effects. At EUR 910.3 million, the Group recorded sales revenues at the previous year's level (910.0).
At the same time, FUCHS PETROLUB raised earnings before interest and tax (EBIT) to EUR 153.8 million (145.4). This represents an increase of EUR 8.4 million or 5.8%. Earnings after tax rose by 5.7% or EUR 5.8 million to EUR 107.6 million (101.8).
Earnings per share are EUR 1.51 (1.42) per ordinary share and EUR 1.52 (1.43) per preference share.
Capital expenditures
The FUCHS PETROLUB Group invested EUR 33.6 million (33.4) in long-term assets in the first six months of the current financial year.
More than half of the investments were dedicated to the modernization and extension of the US production site in Chicago, as well as the new facilities which are currently under construction in China and Russia. All three of these projects shall be completed during the course of 2013.
Employees
The Group employed 3,826 (3,764) employees worldwide as at June 30, 2013. Compared with the 3,773 employees recorded at the end of the previous year, this represents an increase of 53 people. Most of the new staff members were recruited in the areas of sales and distribution, as well as research and development mainly at companies in Germany and Russia, South Africa, Australia and China.
Outlook
FUCHS PETROLUB expects business to develop in the second half of 2013 in line with the first six months of the year and confirms its target of achieving organic growth in sales revenues in the low single-digit percentage range for the financial year. However, the development of currency exchange rates must be taken into account.
In terms of earnings before interest and tax (EBIT), FUCHS also expects to record an increase for 2013, provided the overall economic situation does not change significantly.
Capital expenditure was on budget in the first half of the year and is likely to remain at the previous year's level for 2013.
Mannheim, August 2, 2013
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
Interim report as at June 30, 2013:
www.fuchs-oil.com/ir_sixmonths.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.