FUCHS increases sales revenues and earnings - outlook remains unchanged
DGAP-News: FUCHS PETROLUB SE / Key word(s): Quarterly / Interim Statement
2016-04-29 / 07:00
The issuer is solely responsible for the content of this announcement.
FUCHS increases sales revenues and earnings - outlook remains unchanged
"We made a good start to 2016 and anticipate further increases in both sales revenues and earnings for the year. Our focus is on organic growth and further strengthening our market and competitive position worldwide. To this end we want to invest EUR 300 million in the expansion of existing facilities and the construction of new facilities until 2018," explains Stefan Fuchs, Chairman of the Executive Board at FUCHS PETROLUB SE.
- Sales revenues: +12% to EUR 550 million
- Earnings (EBIT): +4% to EUR 85 million
- Outlook unchanged
The first three months of 2016 at a glance
Sales revenues and earnings
In the first three months of 2016 FUCHS PETROLUB increased its sales revenues by 12% to EUR 550 million. Sales revenues increased organically by 2% and externally by 13% as a result of the acquisitions made in 2015. In terms of currency developments, the tailwind observed in the previous year changed to a headwind (-3%).
As with sales revenues, the income statement too was influenced by acquisitions. The earning power of the companies acquired in 2015 is still below the Group average. EBIT rose by 4% or EUR 3 million to EUR 85 million (82). At EUR 59 million (57), earnings after interest and tax are 3% or EUR 2 million above the previous year. Earnings per ordinary and preference share rose to EUR 0.42 (0.41).
Segments: Sales revenues and earnings
The regional analysis shows that Europe enjoyed strong growth (+25%) as a result of acquisitions. The region also grew organically (+2%), particularly in Central and Eastern Europe. The Asia-Pacific, Africa region recorded organic growth of 5%. Negative currency translation effects (-6%) canceled out this growth. The North and South America region could not repeat its previous year's sales revenues (-4%).
In Europe, EBIT rose by EUR 4 million. As expected, the 9% increase in EBIT to EUR 43 million was less than proportional. The Asia-Pacific, Africa region increased its EBIT by 10% to EUR 29 million. The gains were primarily recorded in China, India and South Korea. At EUR 15 million, EBIT in North and South America is 9% below the previous year's figure.
Outlook
The outlook for FUCHS PETROLUB remains unchanged. The company anticipates acquisition-based and organic growth in sales revenues in the range of 7% to 11% for the financial year. In terms of EBIT, the Group is forecasting an increase between 3% and 7%. This forecast does not account for currency translation effects.
Mannheim, April 29, 2016
FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 (0)621 3802-1104
tina.vogel@fuchs-oil.de
www.fuchs.com/group
The following information can be accessed online:
Interim Report Q1 2016: www.fuchs.com/group/financial-reports Press photos: www.fuchs.com/group/photogallery/
About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. The company, which was founded in Mannheim in 1931, employs around 5,000 people worldwide at 60 operating companies. FUCHS is the world's largest independent lubricant manufacturer. The most important markets in terms of sales revenues are Western Europe, Asia and North America.
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.
2016-04-29 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English Company: FUCHS PETROLUB SE Friesenheimer Str. 17 68169 Mannheim Germany Phone: +49 (0)621 / 3802-0 Fax: +49 (0)621 / 3802-7190 E-mail: ir@fuchs-oil.de Internet: www.fuchs-oil.de ISIN: DE0005790430, DE0005790406 WKN: 579043, 579040 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich; Terminbörse EUREX
End of News DGAP News Service
2016-04-29 / 07:00
The issuer is solely responsible for the content of this announcement.
FUCHS increases sales revenues and earnings - outlook remains unchanged
"We made a good start to 2016 and anticipate further increases in both sales revenues and earnings for the year. Our focus is on organic growth and further strengthening our market and competitive position worldwide. To this end we want to invest EUR 300 million in the expansion of existing facilities and the construction of new facilities until 2018," explains Stefan Fuchs, Chairman of the Executive Board at FUCHS PETROLUB SE.
- Sales revenues: +12% to EUR 550 million
- Earnings (EBIT): +4% to EUR 85 million
- Outlook unchanged
The first three months of 2016 at a glance
in EUR million Q1 2016 Q1 2015 Dev. % Sales revenues (1) 550.2 492.6 11.7 Europe 349.4 278.3 25.5 Asia-Pacific, Africa 144.4 146.5 -1.4 North and South America 84.5 88.3 -4.3 Consolidation -28.1 -20.5 - Earnings before interest and tax (EBIT) 85.2 81.7 4.3 Earnings after tax 58.7 56.8 3.3 Capital expenditures 14.4 7.8 84.6 Free cash flow before acquisitions 27.3 30.2 -9.6 Earnings per share in EUR
Ordinary share 0.42 0.41 2.4 Preference share 0.42 0.41 2.4 Employees as at March 31 4,863 4,141 17.4
(1) By company locationOrdinary share 0.42 0.41 2.4 Preference share 0.42 0.41 2.4 Employees as at March 31 4,863 4,141 17.4
Sales revenues and earnings
In the first three months of 2016 FUCHS PETROLUB increased its sales revenues by 12% to EUR 550 million. Sales revenues increased organically by 2% and externally by 13% as a result of the acquisitions made in 2015. In terms of currency developments, the tailwind observed in the previous year changed to a headwind (-3%).
As with sales revenues, the income statement too was influenced by acquisitions. The earning power of the companies acquired in 2015 is still below the Group average. EBIT rose by 4% or EUR 3 million to EUR 85 million (82). At EUR 59 million (57), earnings after interest and tax are 3% or EUR 2 million above the previous year. Earnings per ordinary and preference share rose to EUR 0.42 (0.41).
Segments: Sales revenues and earnings
The regional analysis shows that Europe enjoyed strong growth (+25%) as a result of acquisitions. The region also grew organically (+2%), particularly in Central and Eastern Europe. The Asia-Pacific, Africa region recorded organic growth of 5%. Negative currency translation effects (-6%) canceled out this growth. The North and South America region could not repeat its previous year's sales revenues (-4%).
In Europe, EBIT rose by EUR 4 million. As expected, the 9% increase in EBIT to EUR 43 million was less than proportional. The Asia-Pacific, Africa region increased its EBIT by 10% to EUR 29 million. The gains were primarily recorded in China, India and South Korea. At EUR 15 million, EBIT in North and South America is 9% below the previous year's figure.
Outlook
The outlook for FUCHS PETROLUB remains unchanged. The company anticipates acquisition-based and organic growth in sales revenues in the range of 7% to 11% for the financial year. In terms of EBIT, the Group is forecasting an increase between 3% and 7%. This forecast does not account for currency translation effects.
Mannheim, April 29, 2016
FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 (0)621 3802-1104
tina.vogel@fuchs-oil.de
www.fuchs.com/group
The following information can be accessed online:
Interim Report Q1 2016: www.fuchs.com/group/financial-reports Press photos: www.fuchs.com/group/photogallery/
About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. The company, which was founded in Mannheim in 1931, employs around 5,000 people worldwide at 60 operating companies. FUCHS is the world's largest independent lubricant manufacturer. The most important markets in terms of sales revenues are Western Europe, Asia and North America.
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.
2016-04-29 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English Company: FUCHS PETROLUB SE Friesenheimer Str. 17 68169 Mannheim Germany Phone: +49 (0)621 / 3802-0 Fax: +49 (0)621 / 3802-7190 E-mail: ir@fuchs-oil.de Internet: www.fuchs-oil.de ISIN: DE0005790430, DE0005790406 WKN: 579043, 579040 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich; Terminbörse EUREX
End of News DGAP News Service