DGAP-News 161 0 Kommentare 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

DGAP-News: FUCHS PETROLUB SE / Key word(s): 9 Month figures
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

03.11.2020 / 07:00
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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