Performance
The globally operating lubricant producer FUCHS PETROLUB SE generated sales revenues of EUR 1,539 million (1,403) in the first nine months of 2015, thus representing an increase of 10%. The growth is acquisition-driven (+4%) and reinforced by positive currency translation effects (+6%). Organic sales revenues grew by 0.1%. Deutsche Pentosin-Werke GmbH was consolidated for the first time in the third quarter of 2015. The acquisition of Statoil Fuel & Retail Lubricants Sweden AB had no effect on the financial statements for the first three quarters of 2015.
Earnings before interest and tax (EBIT) increased by EUR 25 million or 11% to EUR 261 million (236). At the same time earnings after tax rose by EUR 17 million or 10% to EUR 181 million (164). Earnings per share are EUR 1.30 (1.17) per ordinary share and EUR 1.31 (1.18) per preference share.
Free cash flow stood at EUR 33 million (108) after net payments of EUR 110 million for acquisitions.
Capital expenditures
In the period under review, EUR 29 million (24) were invested in property, plant and equipment. This investment was focused on Germany (particularly in a new test field and new tank storage facilities), Australia (new plant) and the USA (new grease plant).
Outlook
The FUCHS PETROLUB Group expects sales revenues to grow by around 10% for the financial year, largely as a result of acquisitions and currency translation effects. Organic sales revenues are likely to remain at the same level or increase slightly compared to the previous year. In terms of EBIT and earnings after tax, the Group continues to anticipate an increase in the higher single-digit percentage range. Furthermore, the FUCHS PETROLUB Group expects to record free cash flow of more than EUR 150 million before acquisition- related expenditure.
source : InterIm report Fuchs Petrolub as at September 30, 2015
