DGAP-News

Growth initiative bears fruit, significant currency effects

DGAP-News: FUCHS PETROLUB SE / Key word(s): Half Year Results
Growth initiative bears fruit, significant currency effects

01.08.2014 / 07:00

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Growth initiative bears fruit, significant currency effects

- Good organic growth of just under 5% substantially eroded by currency
effects; sales revenues rise by 1% to EUR 919 million
- EBIT of EUR 151 million just under 2% lower than in previous year,
currency adjusted an EBIT increase of 2%
- Earnings per share at previous year's level
- EBIT for 2014 expected to be repeated at previous year's level

The first six months of 2014 at a glance

(Amounts in EUR million)                  1. HY 2014    1. HY 2013  Dev. %

Sales revenues (1)                             919.3         910.3     1.0

Europe                                         561.0         547.2     2.5

Asia-Pacific, Africa                           246.1         243.9     0.9

North and South America                        153.3         155.0    -1.1

Consolidation                                  -41.1         -35.8       -

Earnings before interest and tax (EBIT)        151.2         153.8    -1.7

Earnings after tax                             105.4         107.6    -2.0

Earnings per share in EUR

Ordinary share (2)                              0.75          0.75       -

Preference share (2)                            0.76          0.76       -

Gross cash flow                                110.9         107.6     3.1

Investments in long-term assets                 15.1          33.6   -55.1

Employees as at June 30                        3,992         3,826     4.3

(1) By company location
(2) Previous year's figures have been adjusted for reasons of comparability

Performance
The FUCHS PETROLUB Group actively pursued its growth strategy in the first
six months of 2014 and achieved organic growth of almost 5%, thus growing
faster than the market. However, a large proportion of the growth in sales
achieved was eroded by currency translation effects. Group sales revenues
increased by EUR 9 million or 1% to EUR 919 million (910).

At EUR 151 million (154), earnings before interest and tax (EBIT) fell EUR
3 million or just under 2% short of the previous year. Adjusted by negative
currency effects, an increase of 2% was achieved. Earnings after tax
declined by 2% to EUR 105 million (108).

Due to the share buyback program, earnings per share remained at the
previous year's level of EUR 0.75 (0.75) per ordinary share and EUR 0.76