FUCHS confers Sponsorship Award of EUR 50,000 on 13 social projects in Mannheim

FUCHS PETROLUB SE, which operates globally in the lubricants industry, conferred the FUCHS Sponsorship Award for the 21st time on November 5, 2020. A total of 13 projects in the company's home city were awarded a sum of EUR 50,000. Mannheim's Lord Mayor Dr. Peter Kurz once again took over the patronage this year.

"The current pandemic in particular shows us how important this involvement is," says Stefan Fuchs, CEO of FUCHS PETROLUB SE. "After all, the effects of the coronavirus aren't just a challenge for our healthcare system and our economy; they also affect families, old people, and children who have to go without social contact and the familiar environment. In this context, several of the projects submitted this year aim to use creative ideas to help counter educational and psychological harm arising from the coronavirus restrictions - or to compensate for the lack of personal contact using digital media. Supporting these and many other initiatives is part of our social responsibility, which is a high priority for us."

 

Sustainable business and innovative developments are important to FUCHS when it comes to social commitment, too. The additional awards introduced in the anniversary year 2019 for a particularly sustainable project and a particularly innovative project were conferred again this year. The "Project of the Year - Sustainability" award was won by the Evangelical Markus-Lukasgemeinde with its vegetable garden where people with dementia, children from the nearby daycare center, and many other people work together. The "Project of the Year - Innovation" award went to the addiction advice service of the Caritasverband and the Diakonisches Werk Mannheim, which developed a joint online advice center.

 

Out of more than 40 applications, 13 award winners have been selected by FUCHS. Willis Towers Watson, FUCHS' insurance broker, is participating with a sponsorship of EUR 5,000 again in 2020 and is supporting one other project.

 

 

 

Projects and award winners in 2020:

 

- Lukas Garden, Markus-Lukasgemeinde (Project of the Year - Sustainability)

 

- Addiction goes online, Caritasverband Mannheim e. V. and Diakonisches Werk Mannheim (Project of the Year - Innovation)

 

- Digital media, Kinderladen Rappelkiste e. V.

 

- Healthcare proxy or living will: What do I need to do? How do I do it right?, Mannheimer Seniorenrat e. V.

 

- Box seats in the Waldhof House, DRK-Kreisverband Mannheim e. V.

 

- Portraits of an 11th-grade class - a remarkable film project, Freie interkulturelle Waldorfschule e. V.

 

- Promoting animal-supported educational projects, Seelenheilen e. V.

 

- School bag, Kiwanis-Club Mannheim-Kurpfalz

 

- Outpatient assisted living rocks the block, SkF Mannheim e. V.

 

- Emerging strong from the crisis, Die Traum-Schmiede gUG

 

- Music therapy for neuro kids - strong against COVID-19, Neurologisch erkrankte Kinder Mannheim e. V.

 

- EmK soup bowl, Evangelisch-methodistische Kirche, Gemeinde Mannheim

 

- Supporting self-help groups - strengthen volunteer work, Regionale Arbeitsgemeinschaft der Selbsthilfegruppen in Mannheim

 

- BeeDifferent, Evangelisches Schifferkinderheim Mannheim e. V. (Prize from Willis Towers Watson)
 

 

Due to the coronavirus pandemic, the award ceremony was held virtually. A recording of the digital event and further information on the award winners can be found at: www.wgprop.com/fuchs-sponsorship-award/.

 

Mannheim, November 5, 2020

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1207
nina.consagra@fuchs.com
www.wgprop.com/gruppe

 

The following information is available online:
Image and video material: http://www.wgprop.com/de-de/photo-gallery/

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 nearly 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its most important markets in terms of sales revenues are Western Europe, Asia and North America.

 

FUCHS PETROLUB SE with recovery in third quarter of 2020 - First nine months of 2020 still with significant decline in sales revenues and earnings due to the Covid-19 pandemic

"In this difficult year, FUCHS looks back on a good third quarter. The upward trend that was already emerging at the end of the second quarter continued in the past few months with growth in China and a recovery in Europe and America. After a surprisingly good September, the decline in sales revenues after nine months has been reduced to -11% and the decline in earnings (EBIT) to -17%.

 

Our free cash flow before acquisitions developed positively. It was up significantly year-on-year at EUR 122 million with investments at a lower level than in the previous year despite a decline in earnings. This development confirms our decision to continue our investment program with a sense of proportion even under the current difficult conditions. By the end of September, we invested EUR 89 million in our future.

 

We are looking ahead to the remaining months with cautious optimism and have therefore also revised our forecast for the year. We currently anticipate a decline in earnings in the range of -15%. In July, we had expected a -25% decline," says Stefan Fuchs, Chairman of the Executive Board of FUCHS PETROLUB SE.

 

- Sales revenues in the first nine months down -11% year-on-year at EUR 1,740 million (1,952)

 

- Earnings (EBIT) down -17% at EUR 203 million (246)

 

- New outlook for the current financial year: Earnings decline in the range of -15% (previously: -25%)

 

 

 

FUCHS at a glance

EUR million	Q1-3 2020	Q1-3 2019	Change %
Sales revenues (1)	1,740	1,952	-11
Europe, Middle East, Africa (EMEA)	1,060	1,201	-12
Asia-Pacific	509	535	-5
North and South America	281	320	-12
Consolidation	-110	-104	-
Earnings before interest and tax (EBIT)	203	246	-17
Earnings after tax	142	176	-19
Capital expenditure	89	103	-14
Free cash flow before acquisitions	122	94	30
Earnings per share in EUR
Ordinary share	1.02	1.26	-19
Preference share	1.02	1.27	-20
Employees as at September 30	5,751	5,636	2

   

(1) By company location.

Sales revenues and earnings
In a persistently difficult economic environment, FUCHS generated sales revenues of EUR 1,740 million (1,952) in the first nine months of 2020, representing a decrease of -11%. The positive contribution from acquisitions (+2%) was offset by negative currency effects (-2%).

 

The effects of the Covid-19 pandemic weakened further during the year. In the third quarter, sales revenues increased significantly compared to the second quarter of 2020. The Asia-Pacific region already posted year-on-year growth in the third quarter, and an upward trend can be seen in the EMEA and North and South America regions.

Operating business considerably exceeded expectations in the third quarter, especially in September. The cost-saving measures are also taking effect. EBIT in the first nine months was down -17% year-on-year at EUR 203 million (246). Earnings after tax declined by -19% to EUR 142 million (176). Earnings per ordinary share came to EUR 1.02 (1.26) and earnings per preference share came to EUR 1.02 (1.27). At EUR 122 million (94), free cash flow before acquisitions was significantly up compared to the previous year.

Sales revenues and earnings by region
At EUR 1,060 million (1,201), sales revenues in the EMEA region were down -12% year-on-year. Despite the upturn in the third quarter, all major companies in the region were affected by declines in sales revenues, with the UK, France, Spain, Italy, and Germany the hardest hit. The EMEA region's EBIT of EUR 102 million (130) was about -22% lower than in the previous year.

 

The region Asia-Pacific posts a very good third quarter, exceeding the previous year. With sales revenues of EUR 509 million (535), the decline in sales revenues was reduced to -5% (-10% in the first half year) in the first nine months. Positive external growth (+1%) from the acquisition of a manufacturer of lubricants for the automotive retail sector in Australia was more than offset by negative currency effects (-2%) in almost all countries. After a very good third quarter, the Asia-Pacific region's EBIT increased by 4% to EUR 70 million (67). This positive development was particularly driven by China.

 

In the North and South America region, a clear upward trend was noticeable, particularly due to the upturn on the American market. The region's sales revenues in first nine months were down -12% year-on-year at EUR 281 million (320). Due to acquisitions, the region's external growth was 10% or EUR 32 million. The decline in the region's EBIT was reduced, with EBIT down -29% year-on-year at EUR 29 million (41).

 

Outlook
In view of the business performance in the first nine months of 2020 and the improved prospects for the global economy, FUCHS already revised its forecast for the current year on October 15, 2020, and expects a decline in earnings in the range of -15% (previously: -25%).

 

The effects of the crisis on supply chains, production and customer demand cannot be reliably estimated currently. The new forecast is based on the assumption that there will not be any major lockdowns in the key regions for FUCHS in the fourth quarter of 2020.

 

FUCHS is well-positioned to face the crisis and has a solid financial basis. The stability and structure of the balance sheet form a sound foundation for further development. Both the low proportion of fixed costs and the high proportion of raw materials have a positive effect. This allows us to breathe flexibly with sales. In addition, FUCHS once again benefits from its worldwide presence and broad product portfolio.

Mannheim, November 3, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 621 3802-1207
nina.consagra@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: http://www.wgprop.com/gb-en/photo-gallery/


About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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, actual future developments and results can 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 in 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.

 

FUCHS acquires high-performance silicone lubricant manufacturer in the US

The FUCHS Group, which operates globally in the lubricants industry, has acquired PolySi Technologies Incorporated. The Sanford, North Carolina, manufacturer is an innovative leader in the formulation and manufacturing of silicone lubricants. The FUCHS Group further expands its specialty lubricants product portfolio, offering engineered solutions across multiple markets while creating opportunities to serve many critical applications.

 

"For 25 years, PolySi's mission has been to work closely with our customers to develop leading edge products to solve any lubrication challenge. Our consultative approach to grease formulation has offered value to our customers in many industries, including automotive, electrical, plumbing and medical. Integrating with FUCHS will serve to further the reach of our products to the market through the FUCHS sales and distribution networks," says Chuck Leuth, President of PolySi.

"PolySi expands our product and packaging offering into markets where silicone technology is utilized. PolySi's core capabilities of technologically advanced products and consultative sales approach further enhances our value proposition to our customers in offering a full lubrication solution," adds Keith Brewer, President & CEO of FUCHS LUBRICANTS CO., USA.

 

PolySi employs 21 people and generated USD 9 million (approx. EUR 7.6 million) in sales in its fiscal year 2019, mainly in North America.

 

In 2019, the FUCHS Group accounted for EUR 2.572 billion sales with staff of 5,627. FUCHS LUBRICANTS CO. (USA) generated sales of EUR 294 million with 478 employees.

 

Mannheim, November 2, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 621 3802-1207
nina.consagra@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: http://www.wgprop.com/gb-en/photo-gallery/

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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, actual future developments and results can 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 in 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.

 

FUCHS PETROLUB SE earns recognition as a John Deere "Partner-level Supplier" and "Parts Supplier of the Year"

FUCHS PETROLUB SE, which operates globally in the lubricants industry, has earned recognition as a "Partner-level Supplier" for 2019 and was also named "Parts Supplier of the Year" in the John Deere Achieving Excellence Program. The Partner-level status is Deere & Company's highest supplier rating.

 

FUCHS was selected for the honor in recognition of its dedication to providing products and service of outstanding quality as well as its commitment to continuous improvement.

 

FUCHS is a supplier of lubricants, engine coolants and greases to John Deere's operation in various countries all over the globe.
Suppliers who participate in the Achieving Excellence Program are evaluated annually in several key performance categories, including quality, cost management, delivery, technical support and responsiveness.

 

"We are honored to receive the awards from our long-standing customer John Deere. They are not just a recognition for our excellent products and services but also for our global team of motivated colleagues who have contributed to this through their outstanding commitment," comments Stefan Fuchs, Chairman of the Executive Board of FUCHS PETROLUB SE.

 

Mannheim, October 22, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1207
nina.consagra@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: www.wgprop.com/gb-en/photo-gallery

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.

 

 

FUCHS PETROLUB SE announces preliminary figures for the first nine months of 2020 and a new earnings (EBIT) outlook for the current financial year

 

At EUR 1,740 million, preliminary sales of the FUCHS Group in the first nine months of 2020 are 11% below the previous year's level. Operating business in the third quarter, especially in September, was significantly above expectations. Preliminary earnings (EBIT) for the first nine months were down 17% compared to the previous year at EUR 203 million.

 

Taking into account the business development in the first nine months of 2020 and based on today's assessment of the impact of the COVID-19 pandemic, FUCHS has determined a new outlook for the financial year 2020. FUCHS expects a further improvement in economic conditions in the fourth quarter and therefore expects in the year 2020 a decline in earnings (EBIT) in the range of -15% (previously -25%).

 

The effects of the crisis on supply chains, production and customer demand cannot be reliably estimated currently. The new outlook is based on the assumption that there will be no major lockdowns in the fourth quarter of 2020 in FUCHS' core regions.

 

FUCHS is well positioned to face the crisis and has a solid financial basis. The stability and structure of the balance sheet form a sound foundation for further development. Both the low proportion of fixed costs and the high proportion of raw materials have a positive effect. This allows us to breathe flexibly with sales. In addition, FUCHS once again benefits from its worldwide presence and broad product portfolio.

 

The complete statement for the third quarter 2020 will be published as scheduled on November 3, 2020.

 

Mannheim, October 15, 2020

 

Contact
FUCHS PETROLUB SE
Investor Relations
Thomas Altmann
Tel. +49 621 3802-1105
thomas.altmann@fuchs.com

Important note
This ad hoc 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, actual future developments and results can 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 in 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 ad hoc release and assumes no liability for such.

 

FUCHS strengthens specialty business by acquiring the lubricants business of WELPONER SRL, Italy

 

The FUCHS Group, which operates globally in the lubricants industry, acquired the lubricants business of WELPONER SRL in Bolzano, Italy, as of October 1, 2020, and will integrate it into its subsidiary FUCHS LUBRIFICANTI S.P.A.

 

As a longstanding trading partner of FUCHS, WELPONER generated sales revenues of around EUR 4 million in the financial year 2019. The acquisition includes the customer base and the workforce in particular. WELPONER's business complements FUCHS' existing business in Italy. This bundling of sales channels makes FUCHS LUBRIFICANTI S.P.A. a central and authoritative partner for all lubricants and related specialties in Italy.

 

Mannheim, October 1, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1207
nina.consagra@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: www.wgprop.com/gb-en/photo-gallery/

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.

 

FUCHS launches product line FUCHS BluEV for e-mobility

The FUCHS Group, which operates globally in the lubricants industry, is expanding its product portfolio with a dedicated product line for e-mobility and will be offering its customers a comprehensive product range for electric vehicles and the associated components in the future with FUCHS BluEV.

Electromobility applications present lubricants and greases with major new challenges that FUCHS faces with a diversified and comprehensive product range. The FUCHS BluEV product line will initially comprise three product categories: FUCHS BluEV DriveFluid-transmission oils in electric and hybrid drives, FUCHS BluEV MotorGrease-grease products for electric motors designed especially for e-mobility applications, and FUCHS BluEV ThermalFluid-dielectric heat transfer media for automotive applications. This way, FUCHS offers an efficient and optimally aligned 360-degree solution for lubrication, thermal management, and protection of the components for all areas of e-mobility from a single source.

"The transition to e-mobility is presenting our customers in the automotive industry with major challenges, which we help them to tackle. As a development partner of numerous premium manufacturers in the automotive sector, we possess the professional excellence necessary to address global and local customer needs in the best possible way. Over 90 years of expertise and experience are reflected in the development of new lubrication solutions that are needed in the systems of the future-for example, new combinations of an electric motor and transmission, with and without a combustion engine," says Stefan Fuchs, Chairman of the Executive Board, reinforcing the aspiration of the FUCHS Group to be a reliable and innovative partner to its customers in the area of e-mobility as well.

 

"We are definitely breaking new ground at FUCHS with the concept of a 'product line'," says Joerg Wehrle, Vice President Global Product Management Strategy, emphasizing the importance of e-mobility for the Group. "So far, we have operated only with product brands. The new product line will cover all products and solutions that are geared especially towards e-mobility, across all product groups, areas of application, and industries."

 

The FUCHS BluEV line will be presented in the context of the Tech Day, which will take place on August 27, 2020, in Shanghai, China, and then gradually rolled out worldwide.

 

Mannheim, August 27, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1207
nina.consagra@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: www.wgprop.com/gb-en/photo-gallery/
Related links: www.wgprop.com/group/e-mobility, www.wgprop.com/group/fuchs-bluev 


About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.

 

FUCHS PETROLUB SE posts significant decline in sales revenues and earnings in first half of 2020 due to COVID-19 pandemic - Continued very sound balance sheet structure and sufficient liquidity

"The COVID-19 pandemic has also heavily impacted the FUCHS Group's business. All global regions have seen significant declines in sales revenues and earnings in the past months. In the first half of the year, sales revenues decreased by 14% year-on-year, while earnings were down by 29%. Despite these material differences, we were able to generate a profit each month, an overall EBIT margin of 10%, and a positive free cash flow before acquisitions in these difficult times.

 

FUCHS once again benefited from its global presence: When the crisis began in China in February and continued there in March, the EMEA and North and South America regions were not yet affected or were only slightly affected at the end of the first quarter. By contrast, when the wave fully hit the western world in April and May, a clear upward trend was already emerging in Asia, which then continued with a strong June.

 

Our widely diversified product portfolio was also helpful: In many countries, FUCHS was classified as a system-critical company, resulting in only temporary plant closures in a few smaller plants. Significant declines were observed among customers in the automotive industry, however, the areas of specialty applications and aftermarket business benefited from the changed conditions.

 

Finally, the high share of material costs and the relatively low share of fixed costs provided some breathing room regarding sales revenues. By using short-time work or similar work models, introducing a hiring and travel freeze, and systematically implementing further cost-saving measures, the effects of the crisis on our earnings were further mitigated. All this was achieved without having to consider structural adjustments among our loyal permanent staff.

 

We also still have a sound balance sheet structure and a secure financial position. Our equity ratio remains at a very high level of 75%.

 

In this context, we have intensified our activities around our FUCHS2025 initiative and achieved important milestones. Our investment program continues: We thus invested around EUR 58 million in the first six months of this year alone.

 

The effects of the crisis on supply chains, production and customer demand cannot be reliably estimated currently. A second pandemic wave and an associated further decline in demand due to a recession could have a negative impact on the economic development of FUCHS.

 

Based on today's assessment of the effects of the COVID-19 pandemic we have determined a new forecast for the financial year 2020 and expect a drop in earnings in the range of 25%."

 

Stefan Fuchs, Chairman of the Executive Board of FUCHS PETROLUB SE

 

- Development of sales revenues and earnings heavily impacted by COVID-19 pandemic

 

- Sales revenues down by 14% at EUR 1,120 million

 

- Earnings (EBIT) decline disproportionately by 29% to EUR 112 million

 

- New outlook for the current financial year: earnings decline in the range of 25%

 

 

 

FUCHS at a glance

EUR million	H1 2020	H1 2019	Change %
Sales revenues (1)	1,120	1,296	-14
Europe, Middle East, Africa (EMEA)	690	799	-14
Asia-Pacific	320	355	-10
North and South America	181	212	-15
Consolidation	-71	-70	-
Earnings before interest and tax (EBIT)	112	157	-29
Earnings after tax	79	112	-29
Capital expenditure	58	76	-24
Free cash flow before acquisitions	15	16	-6
Earnings per share in EUR
Ordinary share	0.56	0.80	-30
Preference share	0.57	0.81	-30
Employees as at June 30	5,792	5,573	4

 

(1) By company location.

Sales revenues and earnings
In a persistently difficult economic environment, FUCHS generated sales revenues of EUR 1,120 million (1,296) in the first half of 2020, representing a decrease of 14%. The positive contribution from acquisitions (+1%) was offset by negative currency effects (-1%).

 

As expected, the COVID-19 pandemic spread to both the EMEA region and North and South America in the second quarter. By contrast, a clear upward trend was already emerging in the Asia-Pacific region, where the effects of the COVID-19 pandemic lessened over the course of the first half of the year.

Earnings in the first six months were impacted by the negative effects of COVID-19 in all global regions. In spite of this, a double-digit EBIT margin and a positive free cash flow before acquisitions were achieved.
EBIT was down by 29% year-on-year at EUR 112 million (157). Earnings after tax declined by 29% to EUR 79 million (112). Earnings per ordinary share were EUR 0.56 (0.80), and earnings per preference share were EUR 0.57 (0.81). At EUR 15 million (16), free cash flow before acquisitions was marginally lower than in the previous year.

Sales revenues and earnings by region
At EUR 690 million (799), sales revenues in the EMEA region were down significantly by 14% year-on-year. All major companies in the region were affected by decreasing sales revenues. As a result of the lockdowns, Germany, Spain, France, Italy, and the UK are most affected. The EMEA region's EBIT of EUR 56 million (80) was roughly one-third lower than in the previous year.

 

The Asia-Pacific region recorded a decline in sales revenues of 10% to EUR 320 million (355). The effects of the COVID-19 pandemic in this region lessened over the course of the half-year period, with June reaching the pre-crisis level thanks to China. Positive external growth (+2%) from the acquisition of a manufacturer of lubricants for the automotive retail sector in Australia was offset by negative currency effects (-2%), particularly from the Australian dollar. The Asia-Pacific region's EBIT saw a comparatively small decrease of 7% to EUR 41 million (44).

 

The North and South America region posted a decline in sales revenues of 15% to EUR 181 million (212). After a weak first quarter, the effects of the COVID-19 pandemic are intensifying the organic decreases in sales revenues. Due to acquisitions, the region's external growth came to 10% or EUR 21 million. The region's EBIT was particularly heavily impacted and halved to EUR 14 million (29).

 

Outlook
In April 2020, FUCHS PETROLUB SE suspended the outlook for the current year as a result of the considerable impact of the COVID-19 pandemic.

 

Based on today's assessment of the effects of the COVID-19 pandemic, FUCHS has determined a new forecast for the financial year 2020 and expects a drop in earnings in the range of 25%.

 

The effects of the crisis on supply chains, production and customer demand cannot be reliably estimated currently. A second pandemic wave and an associated further decline in demand due to a recession could have a negative impact on the economic development of FUCHS and is not taken into account in the current forecast for the full year.

 

FUCHS is well positioned to face the crisis and has a solid financial basis. The stability and structure of the balance sheet form a sound foundation for further development. Both the low proportion of fixed costs and the high proportion of raw materials have a positive effect. This allows us to breathe flexibly with sales. In addition, FUCHS once again benefits from its worldwide presence and broad product portfolio.

The strategy in the context of "FUCHS2025"
With the FUCHS2025 initiative, which deals with the topics of culture, strategy and structure, the Group has set out on a path into the future and developed a strategy based on six strategic pillars:

 

- Global strength
- Customer and market focus
- Technology leader
- Operational excellence
- People and organization
- Sustainability

 

"By 2025 we want to achieve sustainable revenue growth at a 15% EBIT margin and corresponding FUCHS Value Added growth. We will focus on a market segment approach to increase market penetration and further expand our range of comprehensive lubrication solutions. We want to position ourselves as a technology leader. Our goal is to hold a leading position in all relevant core segments. To achieve this, we use the broad range of our portfolio to serve our customers as a full-line supplier. In the Asia-Pacific and Americas regions, we aim to achieve overproportionate growth and thus create a balance between our three world regions. We want to be the employer of choice for existing and future employees. We have also achieved CO₂ neutrality "gate-to-gate" in 2020 and are preparing to offer climate-neutral products "cradle-to-gate" by 2025. Overall, we see considerable growth potential for the future based on this approach," says Stefan Fuchs, CEO FUCHS PETROLUB SE.

Mannheim, July 30, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1207
nina.consagra@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: http://www.wgprop.com/gb-en/photo-gallery/

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.

 

Supervisory Board extends Stefan Fuchs's Executive Board appointment

The Supervisory Board of FUCHS PETROLUB SE resolved at its meeting today to extend the contract with the Chairman of the Executive Board Stefan Fuchs (52) until June 30, 2026. In this way, FUCHS PETROLUB is ensuring continuity on its Executive Board. Stefan Fuchs has been on the Executive Board since 1999 and has served as its chairman since 2004. He is responsible for the areas of Corporate Group Development, Strategy, Human Resources, PR & Marketing, inoviga and Automotive Aftermarket.

 

The contracts with Dr. Lutz Lindemann (60), Dr. Timo Reister (41), Dr. Ralph Rheinboldt (53), and Dagmar Steinert (55) are in place until December 31, 2023.

 

Mannheim, July 28, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1207
nina.consagra@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: http://www.wgprop.com/gb-en/photo-gallery/

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.
 

 

 

FUCHS PETROLUB SE announces new earnings outlook for the current financial year

 

As expected, in the first half of 2020, FUCHS recorded sales revenues of 14% and earnings (EBIT) of 29% below the previous year.

 

In April 2020, FUCHS PETROLUB SE suspended the outlook for the current year as a result of the considerable impact of the COVID-19 pandemic.

 

Based on today's assessment of the effects of the COVID-19 pandemic, FUCHS has determined a new forecast for the financial year 2020 and expects a drop in earnings in the range of 25%.

 

The effects of the crisis on supply chains, production and customer demand cannot be reliably estimated currently. A second pandemic wave and an associated further decline in demand due to a recession could have a negative impact on the economic development of FUCHS and is not taken into account in the current forecast for the full year.

 

FUCHS is well positioned to face the crisis and has a solid financial basis. The stability and structure of the balance sheet form a sound foundation for further development. Both the low proportion of fixed costs and the high proportion of raw materials have a positive effect. This allows us to breathe flexibly with sales. In addition, FUCHS once again benefits from its worldwide presence and broad product portfolio.

 

The complete half-year financial report 2020 will be published as scheduled on July 30, 2020.

 

Mannheim, July 27, 2020

 

Contact

 

FUCHS PETROLUB SE
Investor Relations
Thomas Altmann
Tel. +49 621 3802-1105
thomas.altmann@fuchs.com

 

Important note
This ad hoc 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, actual future developments and results can 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 in 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 ad hoc release and assumes no liability for such.

 

FUCHS virtual Annual General Meeting 2020 - All agenda items approved by a large majority

 

- 18th consecutive dividend increase to EUR 0.97 per preference share and EUR 0.96 per ordinary share
- Shareholders elect new Supervisory Board
- Dr. Kurt Bock confirmed as Chairman of the Supervisory Board,
Dr. Susanne Fuchs appointed as Deputy Chairwoman of the Supervisory Board and Ingeborg Neumann as Chairwoman of the Audit Committee

 

At the FUCHS PETROLUB SE virtual Annual General Meeting 2020, which took place today, the FUCHS shareholders approved all the agenda items by a large majority. 99.99% voted in favor of the proposed dividend payment of EUR 0.97 per preference share and EUR 0.96 per ordinary share. This corresponds to an increase of 2 cents per share compared to the previous financial year. The actions of the Executive Board and the Supervisory Board were approved by 99.99% and 99.96%, respectively. 99.99% of shareholders also accepted the proposal to appoint PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt am Main, as auditor of the annual financial statements and auditor of the consolidated annual financial statements for the 2020 financial year. In addition, the proposal regarding the remuneration of the Supervisory Board of FUCHS PETROLUB SE was approved by 85.67%, while the remuneration system for the members of the Executive Board was approved by 86.39%.

 

The Nomination Committee's proposals for filling Supervisory Board positions were followed by the shareholders with a large majority. The shareholders thus confirmed Dr. Kurt Bock (98.37%), Dr. Susanne Fuchs (98.19%) and Ingeborg Neumann (88.04%) as shareholder representatives and elected Dr. Christoph Loos (99.88%) as a new member of the Board. Furthermore, Cornelia Stahlschmidt and Jens Lehfeldt were appointed to the Supervisory Board as employee representatives. Following the Annual General Meeting, the new Supervisory Board of FUCHS PETROLUB SE elected Dr. Kurt Bock as its Chairman and Dr. Susanne Fuchs as its Deputy Chairwoman at its constituent meeting. Ingeborg Neumann was elected as Chairwoman of the Audit Committee.

 

Authorization to acquire own shares was also granted. 99.62% of ordinary shareholders (preference shareholders: 91.21%) approved the anticipatory resolution, which is valid until May 4, 2025. In addition, a resolution regarding amendments to the Articles of Association was passed by 99.98%.

 

More than 800 shareholders participated in the virtual Annual General Meeting of FUCHS PETROLUB SE. A total of 82.36% of the ordinary shares with voting rights and 55.78% of the preference shares were represented. Together this equates to 69.08% of the share capital.

 

A detailed overview of the voting results can be found on the company's website at www.wgprop.com/group under Investor Relations and then under Annual General Meeting 2020.

 

Mannheim, May 5, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: www.wgprop.com/group/mediagallery

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.

 

FUCHS achieves slightly lower sales revenues in the first quarter of 2020 - solid financial basis forms a foundation for further development

"The outbreak of the COVID-19-pandemic in China has already left its mark on FUCHS' quarterly result. The slump in sales revenues and earnings in China resulted in a decline in Group sales revenues of around 4% and had a significant impact on the EBIT of EUR 72 million, which was 6% or EUR 5 million below the previous year.

 

We are expecting a significant drop in sales revenues and earnings in the second quarter, which will probably continue in the second half of the year, although hopefully at a slower pace. FUCHS is well-positioned to respond to the crisis and has a solid financial basis. The stability and structure of our balance sheet form a solid foundation for the further development. There is a positive effect from the low proportion of fixed costs and the high proportion of raw materials, which gives us breathing room regarding sales revenues. In addition, FUCHS is once again benefiting from its global presence and broad-based product portfolio. For example, we are seeing signs of recovery after the sharp downturn in China in the first quarter, which is helping to mitigate declines in other regions."

 

Stefan Fuchs, Chairman of the Executive Board of FUCHS PETROLUB SE

 

- Sales revenues: -4% to EUR 616 million

 

- Earnings (EBIT) down 6% to EUR 72 million

 

- COVID-19: Impact still comparatively small in Q1

 

- Significant uncertainty regarding statements on future development:
For the first half of the year significant decline in earnings in the order of 30% expected. An adjusted outlook for the full year 2020 is not possible under the current circumstances

 

FUCHS at a glance

EUR million	Q1 2020	Q1 2019	Change	Change %
Sales revenues 1	616	643	-27	-4
Europe, Middle East, Africa	401	400	1	0
Asia-Pacific	146	171	-25	-14
North and South America	110	106	4	4
Consolidation	-41	-34	-7	-
EBIT	72	77	-5	-6
Earnings after tax	51	55	-4	-7
Capital expenditure	31	34	-3	-9
Free cash flow before acquisitions	-4	13	-17	-
Earnings per share in EUR
Ordinary share	0.36	0.39	-0.03	-8
Preference share	0.37	0.39	-0.02	-5
Employees as at March 31	5,873	5,489	384	7

   

¹ By company location.

 

Sales revenues and earnings
In a challenging economic environment, FUCHS PETROLUB generated sales revenues of EUR 616 million (643) in the first quarter of 2020, which is moderately below the previous year's level. Growth in North and South America continued due to acquisitions but did not offset the decline in sales revenues in the Asia-Pacific region due to the impact of the COVID-19-pandemic in China.

 

The income statement for the first three months of the year is influenced by the positive upward trend in the gross margin from the previous year, with gross profit increasing slightly despite the decline in sales revenues related to COVID-19. EBIT was down 6% year-on-year at EUR 72 million (77). Earnings after tax declined by 7% to EUR 51 million (55). Earnings per ordinary share were EUR 0.36 (0.39), and earnings per preference share were EUR 0.37 (0.39).

 

Free cash flow before acquisitions was significantly lower than in the previous year at EUR -4 million (13). This was not only due to an increase in net operating working capital, but also to the high level of investment in non-current assets of EUR 31 million (34).

Sales revenues and earnings by region
At EUR 401 million (400), sales revenues in the region Europe, Middle East, Africa (EMEA) remained at the previous year's level. Germany continued to benefit from high Group deliveries to China at the start of the year. On the other hand, Brexit is weakening business in the UK. The region Asia-Pacific recorded a significant decline in sales revenues of 14% to EUR 146 million (171). The region North and South America is continuing its positive growth trend thanks to acquisitions. Organic sales revenues went down by 6% in the region. Positive currency effects in North America are compensating for negative effects from South America. Sales revenues in the region thus rose by 4% to EUR 110 million (106).

 

There was positive EBIT growth in the region EMEA due to high internal deliveries from Germany to China at the start of the year and significant earnings increases in Poland. In addition to a significant slump in business in China in February in the region Asia-Pacific, EBIT is also being impacted by declining sales revenues in the automotive and mining industries in the region North and South America and by bad debt losses in North America. In the region EMEA, EBIT rose by 13% to EUR 43 million (38). The Asia-Pacific region's EBIT decreased by 19% to EUR 17 million (21) and the EBIT of the region North and South America by 14% to EUR 12 million (14).

 

Outlook
In mid-March, the International Monetary Fund (IMF) lowered its forecast for global economic growth dramatically. The IMF expects the global economy to shrink by 3% in view of the global COVID-19-crisis. 2020 is expected to bring the worst recession on record since the Great Depression in the 1930s. The IMF pointed out that estimates would depend on the duration of the pandemic and were subject to extreme uncertainty.

 

As a consequence of the COVID-19-pandemic, FUCHS also will be unable to meet its expectations for the full year as published in March. The difficult market environment is set to deteriorate in the second quarter of the year, in which we are expecting a significant drop in earnings in the order of 50%. This represents a significant decline in earnings of around 30% year-on-year for the first half of the year. This statement is subject to great uncertainty. The effects of the crisis on supply chains, production and customer demand cannot currently be reliably estimated. A further or prolonged decline in demand due to the recession could have a negative impact on FUCHS' economic development.

 

Our solid capital and balance sheet structure is the basis for an appropriate liquidity position. Enough precautions have been taken to maintain liquidity, even after dividend payments.

 

Further forecasts for the rest of the year are not possible under the current circumstances.

 

Mannheim, April 30, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: www.wgprop.com/group/mediagallery

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.

 

Joint News Release

FUCHS and BASF collaborate for a holistic sustainability assessment and more sustainable lubricant products - Life Cycle Analysis of Hydraulic Fluids

 

- Jointly executed Eco-Efficiency Analysis: Cradle-to-grave analysis to holistically assess environmental and economic aspects of hydraulic fluids

 

For more than 10 years FUCHS has continuously been driving its sustainability strategy as contribution for climate protection within the lubricant industry. BASF, a longstanding component partner of FUCHS, has a solid history of success in the area of environmental protection. With a recent Eco-Efficiency Analysis (EEA) for different mineral oil based hydraulic fluids, jointly executed by FUCHS and BASF's global business unit Fuel and Lubricant Solutions, the two partners have now established a strong case for a holistic real fact-based sustainability assessment of lubricants-hydraulic fluids.

 

Contrary to the currently dominant cradle-to-gate approach, which only assesses a partial product life cycle until a product has been manufactured, the evaluation of different hydraulic fluids was conducted employing a cradle-to-grave approach when assessing the environmental and economic aspects of the involved products in their full life cycle from sourcing of the raw materials, over production, their use phase and the disposal. Holistically considering the products' full life cycle around the usage in a crawler excavator, the findings of the EEA study clearly indicated the lower environmental impact and lower overall cost especially in use of the studied premium HVLP fluid (high performance multigrade hydraulic oil) versus standard HLP fluid (monograde hydraulic oil). This advantage is mainly based on an improved diesel fuel economy throughout the use phase - primarily due to improved volumetric fluid efficiency lower friction and lower fluid mass circulation ratio - which clearly overcompensates a slightly higher environmental footprint of these products in the cradle-to-gate phase. The improved fuel economy was enabled mainly through the higher hydraulic fluid efficiency of the specific fully formulated multigrade hydraulic oils.

 

"With this study we are jointly pioneering the assessment of sustainability aspects within the lubricant industry," said Dr. Lutz Lindemann, Chief Technology Officer, FUCHS PETROLUB SE. "We really value the broad competencies around sustainability and analytical methods which BASF has brought to the table to make it happen in combination with practical, realistic and application relevant FUCHS know-how. FUCHS and BASF are currently looking at further cases to jointly evaluate, but also at application cases for BASF's sustainable product portfolio of lubricant components."

 

"Sustainability is at the core of our business," added Dr. Julia Frey, Vice President Business Management EMEA Fuel and Lubricant Solutions, BASF SE. "As a leading solution provider to the industries we serve, it is our aspiration to continually, together with our partners, advance the implementation of a fact-based approach to the topic within the fuel and lubricant sector."

 

This study is a first example that demonstrates on the one hand the superior relevance of a cradle-to-grave versus a cradle-to-gate assessment and on the other hand the positive impact of a special designed multigrade high VI (viscosity index) hydraulic fluid on such a cradle-to-grave analysis. The fluids investigated were all mineral oil based hydraulic fluids of different quality levels. Further beneficial impacts on EEAs can be expected upon usage of ester based, so called biodegradable ester based (HEES) hydraulic fluids. Such fluids are known to inherently possess high shear stable VIs and in addition lead to lower friction compared to standard mineral oil-based fluids. Another environmental benefit is their biodegradability. Investigations with such ester-based fluids could be a next step.

 

Media contacts

 

 

BASF	FUCHS PETROLUB
Alexander Heusener	Tina Vogel
Phone: (+49) 621 60 92101	Phone: (+49) 621 3802 1104
Mobile: (+49) 173 3799116
alexander.heusener@basf.com	tina.vogel@fuchs.com

   

About BASF Fuel and Lubricant Solutions
The global business unit Fuel and Lubricant Solutions is a leading supplier to the transportation and mineral oil industries worldwide and part of BASF's Performance Chemicals division. Offerings cover fuel performance packages, refinery additives, polyisobutenes, engine coolants (Glysantin^(R) brand) and brake fluids as well as lubricant additives, compounded lubricants, synthetic base stocks and components for metalworking fluids. The business unit has its main facilities in Ludwigshafen, Germany, Cincinnati and Florham Park in the USA, Nanjing and Shanghai in China, as well as Sao Paulo, Brazil. Research and development is mainly driven out of Ludwigshafen, Germany, Tarrytown, USA and Shanghai, China. Further information is available on the Internet at www.basf.com/fuel-lubricant-solutions.

 

BASF Fuel and Lubricant Solutions is part of BASF's Performance Chemicals division. The division's portfolio also includes Plastic Additives, Kaolin Minerals, as well as Oilfield and Mining Solutions. Customers from a variety of industries including Chemical, Plastic, Consumer Goods, Energy & Resources and Automotive & Transportation benefit from our innovative solutions. To learn more visit http://www.performancechemicals.basf.com.

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs more than 5,600 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its most important markets in terms of sales revenues are Western Europe, Asia and North America. Further information at www.wgprop.com.

 

FUCHS will conduct the Annual General Meeting as a purely virtual Annual General Meeting ("Online AGM") on May 5, 2020 at 10.00 a.m.

Against the background of the ongoing spread of the corona virus and the nationwide ban on events, FUCHS postponed the Annual General Meeting 2020 in March to the second half of June in order to protect the health of all participants. From today's perspective, it is uncertain whether the ban on events will be lifted by then. On March 27, the government rapidly announced a law in which, among other things, annual general meetings can be held in a purely electronic format without any physical participation.

 

In order to ensure that all known agenda items of the Annual General Meeting, such as the election of the Supervisory Board members, the resolution on the appropriation of profits and the associated dividend payment, can be resolved promptly, the Executive Board and the Supervisory Board have decided to make use of the new legal regulations. In this way, FUCHS is able to guarantee all its shareholders sufficient planning security even in the current uncertain times. The Annual General Meeting of FUCHS PETROLUB SE will take place as a purely virtual meeting on the originally planned date, May 5, 2020 at 10.00 a.m. In accordance with the new legal regulations, the invitation will be published on April 9, 2020.

 

After registering in due time, shareholders can follow the entire Annual General Meeting online and exercise their voting rights in advance by electronic postal vote or by granting power of attorney and instructions to the company's proxies. Both options are also possible online until the voting starts. Questions to the Executive Board can be submitted electronically up to two days before the Annual General Meeting. Further details will be included in the invitation.

 

FUCHS once again expressly thanks the government which, in the current difficult situation, has implemented a relevant legislative package within a very short time.

 

Mannheim, April 6, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: www.wgprop.com/group/mediagallery

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs more than 5,600 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.

 

                                    1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:
First name:	Dagmar
Last name(s):	Steinert

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

  b) Initial notification
 
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS PETROLUB SE

b) LEI

529900SNF9E1P5ZO4P98

                                              4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE0005790430

b) Nature of the transaction

Dagmar Steinert instructed a bank to buy preference shares of FUCHS PETROLUB SE for an amount of up to EUR 153,550.00 in a market sensitive manner. The acquisition shall be conducted likely until 2 April 2020 and follows the obligation of the members to the executive board to invest parts of their variable cash compensation in FUCHS PETROLUB SE preference shares with a holding period of several years.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2020-03-19; UTC+1

f) Place of the transaction

Outside a trading venue

   

                                    1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Ralph
Last name(s):	Rheinboldt

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

  b) Initial notification
 
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS PETROLUB SE

b) LEI

529900SNF9E1P5ZO4P98

                                              4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE0005790430

b) Nature of the transaction

Dr. Ralph Rheinboldt instructed a bank to buy preference shares of FUCHS PETROLUB SE for an amount of up to EUR 153,550.00 in a market sensitive manner. The acquisition shall be conducted likely until 2 April 2020 and follows the obligation of the members to the executive board to invest parts of their variable cash compensation in FUCHS PETROLUB SE preference shares with a holding period of several years.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2020-03-19; UTC+1

f) Place of the transaction

Outside a trading venue

   

                                    1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Timo
Last name(s):	Reister

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

  b) Initial notification
 
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS PETROLUB SE

b) LEI

529900SNF9E1P5ZO4P98

                                              4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE0005790430

b) Nature of the transaction

Dr. Timo Reister instructed a bank to buy preference shares of FUCHS PETROLUB SE for an amount of up to EUR 153,550.00 in a market sensitive manner. The acquisition shall be conducted likely until 2 April 2020 and follows the obligation of the members to the executive board to invest parts of their variable cash compensation in FUCHS PETROLUB SE preference shares with a holding period of several years.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2020-03-19; UTC+1

f) Place of the transaction

Outside a trading venue

   

                                    1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Lutz
Last name(s):	Lindemann

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

  b) Initial notification
 
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS PETROLUB SE

b) LEI

529900SNF9E1P5ZO4P98

                                              4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE0005790430

b) Nature of the transaction

Dr. Lutz Lindemann instructed a bank to buy preference shares of FUCHS PETROLUB SE for an amount of up to EUR 153,550.00 in a market sensitive manner. The acquisition shall be conducted likely until 2 April 2020 and follows the obligation of the members to the executive board to invest parts of their variable cash compensation in FUCHS PETROLUB SE preference shares with a holding period of several years.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2020-03-19; UTC+1

f) Place of the transaction

Outside a trading venue

   

                                    1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:
First name:	Stefan
Last name(s):	Fuchs

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

  b) Initial notification
 
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS PETROLUB SE

b) LEI

529900SNF9E1P5ZO4P98

                                              4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE0005790430

b) Nature of the transaction

Stefan Fuchs instructed a bank to buy preference shares of FUCHS PETROLUB SE for an amount of up to EUR 306,800.00 in a market sensitive manner. The acquisition shall be conducted likely until 2 April 2020 and follows the obligation of the members to the executive board to invest parts of their variable cash compensation in FUCHS PETROLUB SE preference shares with a holding period of several years.

c) Price(s) and volume(s)

Price(s)	Volume(s)
not numberable	not numberable

d) Aggregated information

Price	Aggregated volume
not numberable	not numberable

e) Date of the transaction

2020-03-19; UTC+1

f) Place of the transaction

Outside a trading venue

   

FUCHS confirms preliminary figures for the financial year 2019: Sales revenues of EUR 2.6 billion at previous year's level, EBIT 16% below previous year

 

- Sales revenues: +0% to EUR 2.6 billion

 

- Earnings (EBIT): -16% to EUR 321 million

 

- Dividend proposal: +2% to EUR 0.97 per preference share

 

- Annual General Meeting postponed

 

FUCHS at a glance

in EUR million	2019	2018	Change	Change %
Sales revenues (1)	2,572	2,567	5	0
Europe, Middle East, Africa	1,579	1,618	-39	-2
Asia-Pacific	718	706	12	2
North and South America	418	409	9	2
Consolidation	-143	-166	23	-
EBIT before one-off effect	321	371	-50	-13
EBIT	321	383	-62	-16
Earnings after tax	228	288	-60	-21
Capital expenditure	154	121	33	27
Free cash flow before acquisitions	175	147	28	19
Acquisitions (2)	-13	+12	-25	-
Free cash flow	162	159	3	2
Earnings per share in EUR
Ordinary share	1.63	2.06	-0.43	-21
Preference share	1.64	2.07	-0.43	-21
Employees as at December 31	5,627	5,446	181	3

   

(1) By company location; previous year figures comparable
(2) Including divestments

 

In the 2019 financial year, FUCHS' sales revenues of EUR 2.6 billion (2.6) remain stable at the high level of the previous year. Earnings before interest and tax (EBIT) decreases by 16% to EUR 321 million (383). On a comparable basis, excluding the one-off effect from the sale of the trading joint venture in Switzerland in 2018, EBIT is -13% or EUR 50 million below the previous year (371). The decline in earnings at constant sales is due to the planned increase in the cost base, the growth and investment program and the decline in volume as a result of the weak economic environment.

Investments
In 2019, FUCHS continued its investment program started in 2016 for the fourth year. As planned, investments, primarily in property, plant and equipment, rose to the record level of EUR 154 million in the reporting year.

 

The region Europe, Middle East and Africa (EMEA) was the focus of the expansion and modernization measures, accounting for around 60% of the expenditure. The largest single investment in the region was in Sweden where the construction of a new plant is well underway. In Kaiserslautern, the construction of a new high-bay warehouse, new production and office space was completed, and work continued on a new polyurea specialty grease plant, with which Kaiserslautern will further expand its position as a location for specialty lubricants. At the Mannheim site, work continued on optimizing internal processes in various ways and the tank farm was modernized and expanded. The UK continued the construction of its new raw material warehouse, while in Russia, construction work began on the plant expansion.

 

Investments of EUR 31 million were carried out in Asia-Pacific. FUCHS opened one of its most modern production plants with an automated high-bay warehouse and fully automated production in Wujiang, China. It replaces the previous plant in Shanghai and has almost twice the capacity. The administration and research and development laboratories remaining in Shanghai were expanded in 2019.

 

Around EUR 22 million was invested in the region North and South America. In the US, work at the Harvey site continued on a plant for the production of lubricants for OEM customers as well as the modernization of the metalworking fluids plant, and investments were made in additional office space. In Kansas City the modernization of the site continued.

 

Outlook
FUCHS expected growth in sales revenues of between +0% and +4% for the year 2020 when the 2019 annual financial statements were prepared on March 4. This is based both on organic volume growth and external growth. The latter is mainly due to the acquisition of NYE, a manufacturer of synthetic high-performance lubricants in the US, which was completed at the end of January 2020. FUCHS also expected a slight increase in EBIT of between +0% and +4%. The strict cost management will continue, and new hires will be kept to a minimum. The negative effects of the coronavirus on the global economy and the FUCHS Group cannot be estimated at present. However, they will at least temporarily lead to significant declines in sales and earnings.

 

The extensive investments in production plants and IT infrastructure will continue as part of our growth strategy, and research and development activities will also be strengthened. One of the objectives is to actively shape the increasingly complex requirements of the future. Given the profitability and financial strength of the Group, this process, which temporarily involves higher cost increase than earnings increase, will continue despite the slowdown in the global economy. FUCHS plans to invest EUR 120 million, particularly in Germany, the US, China, South Africa, Russia and Sweden. Capital employed will continue to increase and the net working capital required for the growing volume of business will also rise. For the 2020 financial year, FUCHS therefore anticipated a free cash flow before acquisitions of EUR 130 million when the annual financial statements were prepared. This expectation also does not take into account the negative effects of the coronavirus on the global economy.

 

Postponement of the Annual General Meeting 2020 due to the coronavirus pandemic
Against the background of the spreading coronavirus and the current nationwide ban on events, FUCHS PETROLUB SE will not hold the Annual General Meeting on May 5, 2020 as planned in order to protect the health of all participants. Subject to the further development of the corona pandemic and related regulatory requirements, the Annual General Meeting will probably take place in the second half of June. The new date will be set and communicated in due course. This will inevitably result in a corresponding postponement of the resolution on the appropriation of profits and the dividend payment.

 

Mannheim, March 19, 2020

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: www.wgprop.com/group/mediagallery

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs more than 5,600 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.

 

FUCHS publishes preliminary figures for 2019 financial year: Sales revenues at previous year's level at EUR 2.6 billion, EBIT 16% below previous year

 

- Sales revenues: +0% at EUR 2.6 billion

 

- EBIT down -16% to EUR 321 million

 

- Dividend proposal: +2% to EUR 0.97 per preference share

 

FUCHS at a glance - preliminary figures

in EUR million	2019	2018	Change	Change %
Sales revenues (1)	2,572	2,567	5	0
Europe, Middle East, Africa	1,579	1,618	-39	-2
Asia-Pacific	718	706	12	2
North and South America	418	409	9	2
Consolidation	-143	-166	23	-14
EBIT before one-off effect	321	371	-50	-14
EBIT	321	383	-62	-16
Earnings after tax	228	288	-60	-21
Capital expenditure	154	121	33	27
Free cash flow before acquisitions	175	147	28	19
Acquisitions (2)	-13	+12	-25	-
Free cash flow	162	159	3	2
Earnings per share in EUR
Ordinary share	1.63	2.06	-0.43	-21
Preference share	1.64	2.07	-0.43	-21
Employees as at December 31	5,627	5,446	181	3

 

(1) By company location; previous year figures comparable

 

(2) Including divestments

 

Sales revenues and earnings
In the 2019 financial year, FUCHS kept sales revenues stable at the high level of the previous year at EUR 2.6 billion (2.6). Due to the weakness of the automotive industry in Asia and Europe, organic growth declined slightly by -1%. Acquisitions from 2019 contributed with +1%. Currency effects from the translation into the Group currency played only a minor role.

 

Earnings before interest and taxes (EBIT) declined by 16% to EUR 321 million (383). On a comparable basis, excluding the one-off effect from the sale of the trading joint venture in Switzerland in 2018, EBIT was -14% or EUR 50 million below the previous year (EUR 371 million). The disproportionately high decline in earnings in relation to sales revenues in the 2019 reporting year is attributable both to the scheduled increase in the cost base as a result of the growth and investment program and to the decline in volume resulting from the weak economic environment. Goodwill amortization of EUR 6 million also had a negative impact on EBIT. Earnings after tax decreased by 21% to EUR 228 million (288), largely as a result of higher withholding taxes on dividends. Earnings per ordinary and preference share were EUR 1.63 (2.06) and EUR 1.64 (2.07) respectively.

Sales revenues and earnings by region
Business in the three global regions performed differently. At EUR 1,579 million (1,618), sales revenues in the region Europe, Middle East and Africa (EMEA) were 2% below the previous year's level, mainly due to the difficult environment in the automotive industry. Currency effects and external growth had no impact on sales revenues in this region. The EBIT of EUR 167 million (211) is also down and includes the goodwill amortization of EUR 6 million.

 

On an organic basis, the Asia-Pacific region declined by 1% due to the lower demand in the automotive sector. Taking into account positive currency effects (+1%) from translation into the Group currency, the euro, and the acquisition of a lubricant manufacturer in the automotive retail sector in Australia, sales revenues in the region rose by 2% or EUR 12 million to EUR 718 million (706). At EUR 93 million (102), EBIT was down on the previous year.

 

The North and South America region increased its sales revenues by 2% to EUR 418 million (409) in the reporting year. The negative organic growth of -1% was offset by a positive currency effect of 3%. The region's EBIT of EUR 49 million (59) was down on the previous year.

Cash flow
Investments in property, plant and equipment of EUR 154 million (121) have risen to a new record level, but are below the figure originally planned for the year as a whole. Despite increased investments and lower earnings after tax, free cash flow before acquisitions was higher than in the previous year at EUR 175 million (147), mainly due to the reduction of inventories.

 

Employees
The FUCHS Group had 5,627 employees as of December 31, 2019 (5,446). The total workforce increased by 181 people or 3% compared to the previous year, mainly as a result of acquisitions.

 

The number of employees in the Asia-Pacific region rose by 37, while the EMEA region added 89 employees. In North and South America, the number of employees increased by 55 compared to December 31, 2018.

Dividend
Pending a resolution by the Supervisory Board, the Executive Board of FUCHS PETROLUB SE intends to propose a dividend of EUR 0.97 (0.95) per preference share and EUR 0.96 (0.94) per ordinary share for the financial year 2019 to the Annual General Meeting, which will be held on May 5, 2020. This corresponds to a 2% increase. We are thus maintaining our stable dividend policy even in a difficult economic environment.

 

Outlook and complete figures
For the year 2020, FUCHS expects growth in both sales revenues and EBIT in the low to medium single-digit percentage range, although the economic effects of the Covid-19 virus are not yet foreseeable. The figures published are preliminary figures. The FUCHS Group will publish the final figures for the financial year 2019 and the complete outlook for 2020 on March 19, 2020.

 

Mannheim, February 20, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group

 

The following information is available online:
Image and video material: www.wgprop.com/group/mediagallery

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs more than 5,500 people worldwide at 62 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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.

 

FUCHS successfully completes the acquisition of Nye Lubricants Inc., a high-performance specialty synthetic lubricant manufacturer in the US

The FUCHS Group, which operates globally in the lubricants industry, signed an agreement to acquire Nye Lubricants Inc. in October 2019. The Fairhaven, Massachusetts, manufacturer is a leader in the innovation, formulation and manufacturing of synthetic lubricants.

 

After having received all the required regulatory approvals, the acquisition was closed today. With this acquisition the FUCHS Group further expands its specialty lubricants product portfolio, offering engineered solutions across multiple markets while creating opportunities to serve new high-end, critical applications. The business will continue to be operated out of its Fairhaven, Massachusetts, location.

 

Nye employs 180 people and generated USD 51 million (approx. EUR 46 million) in sales in its fiscal year 2018, throughout North America, Europe and Asia.

 

In 2018 the FUCHS Group accounted for EUR 2,567 million sales with staff of 5,446. FUCHS LUBRICANTS CO. (USA) generated sales of EUR 284 million with 420 employees.

 

Mannheim, January 24, 2020

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group
 

 

The following information is available online:
Press release "FUCHS acquires high-performance specialty synthetic lubricant manufacturer in the US" (October 10, 2019): http://www.wgprop.com/group/press/press-releases/company-business-finances/news-detail/view/2430-fuchs-acquires-high-performance-specialty-synthetic-lubricant-manufacturer-in-the-us/
Image and video material: www.wgprop.com/group/mediagallery

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs around 5,500 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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, actual future developments and results can 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 in 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.

 

FUCHS strengthens market presence in Switzerland through intensified trading partnerships

 

The FUCHS Group, which operates globally in the lubricants sector, has been present on the Swiss market for more than 40 years. After FUCHS sold its 50% share in a local joint venture in August 2018, the Swiss market is now being served directly by local trading partners. FUCHS has been able to win three renowned and experienced trading partners for future sales in Switzerland: The lubricant specialist ASEOL SUISSE AG, the LAVEBA cooperative and the chemical-technical heat transfer specialist S. AFFOLTER. FUCHS thus ensures complete market coverage across all customer groups in Switzerland.

 

ASEOL SUISSE AG in Steffisburg will distribute industrial lubricants and lubricants for special applications throughout Switzerland as a trading partner for FUCHS. In addition, ASEOL SUISSE AG will take over the distribution of automotive FUCHS lubricants in Western, Central and Southern Switzerland.

 

The LAVEBA cooperative in St. Gallen takes over the distribution of automotive FUCHS lubricants for Eastern Switzerland.

 

The more than 25 years lasting proven partnership with the company S. AFFOLTER in Schmitten for the distribution of FUCHS refrigeration oils will be continued.

 

Mannheim, December 18, 2019

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group

The following information is available online:
Image and video material: www.wgprop.com/group/mediagallery

 

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs around 5,500 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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, actual future developments and results can 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 in 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.

 

                                    1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:
First name:	Anna-Louisa
Last name(s):	Fuchs

2. Reason for the notification

a) Position / status

Person closely associated with:
Title:
First name:	Stefan
Last name(s):	Fuchs
Position:	Member of the managing body

  b) Initial notification
 
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS PETROLUB SE

b) LEI

529900SNF9E1P5ZO4P98

                                              4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE0005790406

b) Nature of the transaction

60 shares received through donation.

c) Price(s) and volume(s)

Price(s)	Volume(s)
0.00 EUR	0.00 EUR

d) Aggregated information

Price	Aggregated volume
0.00 EUR	0.00 EUR

e) Date of the transaction

2019-12-16; UTC+1

f) Place of the transaction

Outside a trading venue

   

                                    1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:
First name:	Mary-Ann
Last name(s):	Fuchs

2. Reason for the notification

a) Position / status

Person closely associated with:
Title:
First name:	Stefan
Last name(s):	Fuchs
Position:	Member of the managing body

  b) Initial notification
 
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS PETROLUB SE

b) LEI

529900SNF9E1P5ZO4P98

                                              4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE0005790406

b) Nature of the transaction

60 shares received through donation.

c) Price(s) and volume(s)

Price(s)	Volume(s)
0.00 EUR	0.00 EUR

d) Aggregated information

Price	Aggregated volume
0.00 EUR	0.00 EUR

e) Date of the transaction

2019-12-16; UTC+1

f) Place of the transaction

Outside a trading venue

   

FUCHS strengthens presence in Sub-Saharan Africa through joint ventures

 

The FUCHS Group, which operates globally in the lubricants industry, has acquired 50% of the shares of three distributors based in Zimbabwe, Zambia and Mozambique. FUCHS has been working with these partners for more than 15 years. After the recent establishment of a FUCHS entity in Tanzania, these acquisitions further strengthen the footprint of FUCHS in Sub-Saharan Africa. The joint ventures employ 90 people and generated sales of around EUR 21 million in the 2018 financial year.

 

"Customers in these countries, who require lubricants and services in fields like mining, commercial vehicle fleets, general industry, agriculture, food and beverage, consumer products and other specialty applications will benefit locally from even stronger lubricants focus supported by international resources," says Alf Untersteller, Executive Vice President FUCHS PETROLUB SE.

 

The wholly owned FUCHS entity FUCHS SOUTHERN AFRICA has developed these three Sub-Saharan distributors over more than a decade. "The distributors have done an excellent job in building the FUCHS brand in their countries and the timing is now right for FUCHS to take an equity stake in the businesses. Additionally, FUCHS sees significant importance in the development of Africa, where it also contributes sizeable efforts to the sustainable social development of the continent," says FUCHS SOUTHERN AFRICA Managing Director, Paul Deppe.

 

"FUCHS has invested significantly in South Africa in recent time through the acquisitions of LUBRITENE, LUBRASA and OPTIFLOW in 2014 and investments in a state of the art, fully automated grease manufacturing plant which opened in 2018 at its manufacturing hub in Isando, Johannesburg. This will supply markets in Africa and is also part of our current global growth initiative investing in existing and new plants focused on capacity increase in line with advanced technology. Further plant expansions are already being planned," says Stefan Fuchs, Chairman of the Executive Board of FUCHS PETROLUB SE.

FUCHS has signed to acquire and expects closing in early 2020.

 

Mannheim, December 5, 2019

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group

The following information is available online:
Image and video material: www.wgprop.com/group/mediagallery

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs around 5,500 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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, actual future developments and results can 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 in 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.

 

                                    1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:
First name:	Stefan
Last name(s):	Fuchs

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

  b) Initial notification
 
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS PETROLUB SE

b) LEI

529900SNF9E1P5ZO4P98

                                              4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE0005790430

b) Nature of the transaction

Disposal

c) Price(s) and volume(s)

Price(s)	Volume(s)
40.60 EUR	20300.00 EUR
40.62 EUR	14420.10 EUR
40.64 EUR	1584.96 EUR
40.66 EUR	158817.96 EUR
40.68 EUR	4840.92 EUR
40.70 EUR	42938.50 EUR
40.84 EUR	15560.04 EUR
40.72 EUR	1588.08 EUR
40.74 EUR	22692.18 EUR
40.76 EUR	95622.96 EUR
40.78 EUR	31196.70 EUR
40.80 EUR	24806.40 EUR
40.82 EUR	9021.22 EUR
40.86 EUR	7477.38 EUR
40.88 EUR	19581.52 EUR
40.60 EUR	8160.60 EUR

d) Aggregated information

Price	Aggregated volume
40.7188634 EUR	478609.52 EUR

e) Date of the transaction

2019-11-06; UTC+1

f) Place of the transaction

Name:	XETRA - Regulierter Markt
MIC:	XETA

   

                                    1. Details of the person discharging managerial responsibilities / person closely associated

a) Name

Title:	Dr.
First name:	Ralph
Last name(s):	Rheinboldt

2. Reason for the notification

a) Position / status

Position:

Member of the managing body

  b) Initial notification
 
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) Name

FUCHS PETROLUB SE

b) LEI

529900SNF9E1P5ZO4P98

                                              4. Details of the transaction(s)

a) Description of the financial instrument, type of instrument, identification code

Type:	Share
ISIN:	DE0005790430

b) Nature of the transaction

Disposal

c) Price(s) and volume(s)

Price(s)	Volume(s)
41.14 EUR	28592.30 EUR
41.04 EUR	29056.32 EUR
41.08 EUR	22511.84 EUR
41.10 EUR	30701.70 EUR
41.06 EUR	83064.38 EUR
41.00 EUR	13530.00 EUR
41.02 EUR	28960.12 EUR
41.12 EUR	4811.04 EUR

d) Aggregated information

Price	Aggregated volume
41.0670242 EUR	241227.70 EUR

e) Date of the transaction

2019-11-05; UTC+1

f) Place of the transaction

Name:	XETRA - Regulierter Markt
MIC:	XETA

   

FUCHS acquires Chemicals Process Management business in North America

 

The FUCHS Group, which operates globally in the lubricants sector, is acquiring the business of ZIMMARK INC. The Burlington, Ontario, Canada based company is a service company offering value added services in the lubricants and Chemicals Process Management (CPM) space.

 

With this acquisition the FUCHS Group expands its service portfolio in the industrial lubricant market and will deploy its processes where applicable throughout its other global divisions. The business will operate as a separate Chemicals Process Management (CPM) Division of FUCHS' North American industrial business.

 

"Today's larger sophisticated customers are looking for an integrated partnership with their lubricant supplier inclusive of a service offering complimenting a fluid solution to their challenges. FUCHS offers many Chemicals Process Management (CPM) programs throughout Europe and China. We will use ZIMMARK's Technical Process Management (Z-TPM), focusing on rigorous control plans, as a nucleus to grow the service component of the business in the United States," says Keith Brewer, President & CEO of FUCHS LUBRICANTS CO., USA. "The acquisition, and especially the ZIMMARK team, will significantly enlarge our service offering capability to existing business along with offering value added services to new customers using FUCHS' marketplace presence."

 

The transaction will be effective November 1, 2019.

 

ZIMMARK employs 60 people and generated EUR 4 million in sales in its fiscal year 2018, all of that in North America.

 

In 2018 the FUCHS Group accounted for EUR 2,567 million sales with staff of 5,446. FUCHS LUBRICANTS CO., USA made EUR 284 million sales with 420 employees.

 

Mannheim, November 1, 2019

 

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group

The following information is available online:
Image and video material: www.wgprop.com/group/mediagallery

About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs around 5,500 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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, actual future developments and results can 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 in 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.

 

FUCHS generates sales revenues at previous year's level in the first nine months; decline of 17% in earnings is less significant than expected

 

"After a disappointing second quarter, we are satisfied with the results of the past months. We achieved organic growth of EUR 1 million in the third quarter. Our strict cost control is starting to yield results without negatively impacting the modernization and expansion of our plants. EBIT for the first nine months was down 17% year-on-year. The decline was thus not as significant as we had feared back in July. In this context, we are specifying our outlook for 2019 as a whole and expect sales and EBIT to be at the upper end of the forecast.
With an EBIT margin of 12.6% and an extremely solid balance sheet, we have a healthy basis for the continuation of our growth and modernization program and for continued focus on our cultural, structural and strategic initiative FUCHS2025," says Stefan Fuchs, Chairman of the Executive Board of FUCHS PETROLUB SE.

FUCHS at a glance

EUR million	Q1-3 2019	Q1-3 2018(1)	Change %
Sales revenues(2)	1,952	1,953	0
Europe, Middle East, Africa	1,201	1,237	-3
Asia-Pacific	535	542	-1
North and South America	320	304	5
Consolidation	-104	-130	-
Earnings before interest and tax (EBIT)	246	297	-17
Earnings after tax	176	219	-20
Capital expenditure	103	73	41
Free cash flow before acquisitions(3)	94	121	-22
Earnings per share in EUR
Ordinary share	1.26	1.57	-20
Preference share	1.27	1.58	-20
Employees as at September 30	5,636	5,386	5

   

(1) Prior-year figures adjusted.
(2) By company location.
(3) Including divestments.

 

Sales revenues and earnings
In a difficult economic environment, FUCHS PETROLUB generated sales revenues on a par with the previous year in the first nine months of 2019 at EUR 1,952 million (1,953). After a difficult start to the year and a disappointing second quarter, FUCHS posted organic growth of EUR 1 million in the third quarter.
The income statement for the first nine months was dominated by the planned increase in costs in connection with the growth program. EBIT was down 17% year-on-year at EUR 246 million (297), or down 14% on a comparable basis before one-off income. Earnings after tax declined by 20% to EUR 176 million (219). Compared to the previous year, earnings per ordinary and preference share fell by EUR 0.31 or 20% to EUR 1.26 and EUR 1.27 respectively.
At EUR 94 million (121), free cash flow before acquisitions was significantly lower than in the previous year as a result of the EUR 30 million increase in investments in non-current assets to EUR 103 million (73).

 

Sales revenues and earnings by region
The Europe, Middle East, Africa (EMEA) region generated sales revenues of EUR 1,201 million (1,237), down roughly 3% on the previous year. Compared to the first half of the year, the decline in sales revenues slowed slightly in the third quarter. However, Germany in particular continues to suffer due to the ongoing weakness of the global automotive market. After the first nine months, the Asia-Pacific region was down 1% year-on-year with sales revenues of EUR 535 million (542), but recorded a 4% decrease in organic terms. The decline in sales revenues in China slowed in the third quarter compared to the previous year. However, the automotive crisis had already affected China in the fall of the previous year, resulting in declining sales revenues. The North and South America region increased its sales revenues by 5% to EUR 320 million (304). Positive currency effects as a result of the strong US dollar contributed 4% of this.

 

The EBIT of the regions was significantly negatively impacted by the planned increase in costs as a result of the growth and modernization program. In EMEA, EBIT fell by 20% to EUR 130 million (162). On a comparable basis, the decrease amounted to 13%. The Asia-Pacific region's EBIT was down 16% year-on-year at EUR 67 million (80). In the North and South America region, EBIT declined by 9% to EUR 41 million (45).

 

Outlook
Given the economic situation, and particularly the continuing crisis in the automotive industry, FUCHS continues to anticipate a significant decline in earnings in comparison to the previous year. Based on the third quarter, the outlook for the current year is specified. FUCHS expects both sales revenues (-3% to +0%) and EBIT (-30% to -20% based on EBIT 2018 including one-off income) to be at the upper end of the range of the forecast.

Mannheim, October 30, 2019

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1104
tina.vogel@fuchs.com
www.wgprop.com/group

The following information is available online:
Quarterly statement for Q1-3 2019: www.wgprop.com/group/investor-relations/publications
Image and video material: www.wgprop.com/group/mediagallery

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 5,500 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its 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 in 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.