- Sales revenues up 8% to EUR 493 million (currency adjusted +1%)
- Earnings (EBIT) rise by 8% to EUR 82 million
- Outlook for the financial year improved due to currency effects
The first three months of 2015 at a glance
| Amounts in EUR million | Q1 2015 | Q1 2014 | Dev. % |
| Sales revenues (1) | 492.6 | 456.8 | 7.8 |
| Europe | 278.3 | 284.5 | -2.2 |
| Asia-Pacific, Africa | 146.5 | 119.4 | 22.7 |
| North and South America | 88.3 | 75.4 | 17.1 |
| Consolidation | -20.5 | -22.5 | |
| Earnings before interest and tax (EBIT) | 81.7 | 75.6 | 8.1 |
| Earnings after tax | 56.8 | 52.8 | 7.6 |
| Earnings per share in EUR | |||
| Ordinary share | 0.41 | 0.38 | 7.9 |
| Preference share | 0.41 | 0.38 | 7.9 |
| Free cash flow | 30.2 | 25.8 | 17.1 |
| Investments in long-term assets | 7.8 | 6.5 | 20.0 |
| Employees as at March 31 | 4,141 | 3,981 | 4.0 |
Performance
The globally operating lubricant producer FUCHS PETROLUB SE generated sales revenues of EUR 493 million (457) in the first quarter of 2015, thus representing an increase of 8%. Adjusted for currency effects, sales revenues increased by 1%. The two minor acquisitions made by the Group in Great Britain and South Africa / Australia in mid-2014 contributed just under 2% to the increase in sales revenues. Organic sales revenues remained slightly below the high level recorded in the same period of the previous year (-1%).
Earnings before interest and tax (EBIT) increased by EUR 6 million or 8% to EUR 82 million (76). At the same time, earnings after tax rose by EUR 4 million or 8% to EUR 57 million (53), while earnings per share also increased by 8% to EUR 0.41 EUR (0.38) per ordinary and preference share.
Free cash flow reached a value of EUR 30 million (26).
Investments
In the period under review, the FUCHS PETROLUB Group invested EUR 8 million (7) in property, plant and equipment. Around half of this sum was invested in Germany. Larger investments are planned in subsequent quarters, primarily in the US and Germany.
Employees
As at March 31, 2015, the global workforce of the FUCHS PETROLUB Group consisted of 4,141 employees. Compared with the 4,112 employees recorded at the end of the previous year, this represents an increase of 29 people.
Outlook
The FUCHS PETROLUB Group also expects increases in sales revenues for the financial year. Should the euro remain weak, EBIT and earnings after tax are set to increase by a mid to higher single-digit percentage. In terms of free cash flow, the Group anticipates the amount to once again exceed EUR 150 million.
Mannheim, April 30, 2015
FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim Germany
Tel: +49 621 3802-1104
E-mail: tina.vogel@fuchs-oil.de
The information below can be accessed at the following web addresses:
Press release:
www.fuchs.com/group
Interim report as at March 31, 2015:
http://fuchs.com/group/investor-relations/publications/annual-report-and-interim-reports/
Press photos:
http://fuchs.com/group/press/press-service/photo-gallery/
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, for example, include changes in the overall economic climate, changes in procurement prices, changes to exchange rates and interest rates, and changes within 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.