Brief: Fuchs Petrolub Specifies Outlook, Sees Significant Decline In Earnings

Fuchs Se

30/10/2019 06:12

Oct 30 (Reuters) - Fuchs Petrolub SE  FPEG_p.DE :
    * DGAP-NEWS: FUCHS GENERATES SALES REVENUES AT PREVIOUS
YEAR'S
LEVEL IN THE FIRST NINE MONTHS; DECLINE OF 17% IN EARNINGS IS
LESS SIGNIFICANT THAN EXPECTED
    * 9M PROFIT AFTER TAX 176 MILLION EUR
    * GIVEN ECONOMIC SITUATION, AND PARTICULARLY CONTINUING
CRISIS IN
AUTOMOTIVE INDUSTRY, FUCHS CONTINUES TO ANTICIPATE A SIGNIFICANT
DECLINE IN EARNINGS IN COMPARISON TO PREVIOUS YEAR
    * BASED ON Q3, OUTLOOK FOR 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 UPPER END
OF RANGE OF FORECAST
    * WE ACHIEVED ORGANIC GROWTH OF EUR 1 MILLION IN Q3
    * EBIT FOR FIRST NINE MONTHS WAS DOWN 17% YEAR-ON-YEAR
    * DECLINE WAS THUS NOT AS SIGNIFICANT AS WE HAD FEARED BACK
IN
JULY
    * WITH AN EBIT MARGIN OF 12.6% AND AN EXTREMELY SOLID
BALANCE
SHEET, WE HAVE A HEALTHY BASIS FOR CONTINUATION OF OUR GROWTH
AND MODERNIZATION PROGRAM
    * IN A DIFFICULT ECONOMIC ENVIRONMENT, FUCHS PETROLUB
GENERATED
SALES REVENUES ON A PAR WITH PREVIOUS YEAR IN FIRST NINE MONTHS
OF 2019 AT EUR 1,952 MILLION (1,953)

Source text for Eikon:  ID:nEQb7GRcTa 
Further company coverage:  FPEG_p.DE 

 (Reporting by Berlin Speed Desk)
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