Brief: Fuchs Petrolub Q1 Sales Revenue Up 16%, Growth Driven Mainly By Prices

Fuchs Se

29/04/2022 06:05

April 29 (Reuters) - Fuchs Petrolub SE  FPEn.DE :
    * DGAP-NEWS: FUCHS WITH A GOOD START INTO THE YEAR - OUTLOOK
ADJUSTED
    * Q1 EBIT FELL 8 PERCENT TO 93 MILLION EUR
    * Q1 SALES REVENUES UP 16% OR EUR 111 MILLION YEAR-ON-YEAR
AT EUR
808 MILLION (697)
    * Q1 EARNINGS (EBIT) OF EUR 93 MILLION (101) AT LEVEL OF Q1
OF
PREVIOUS PEAK YEAR 2018, BUT DOWN 8% OR EUR 8 MILLION FROM
EXCEPTIONALLY STRONG QUARTER OF PREVIOUS YEAR
    * FULL YEAR DEVELOPMENT DIFFICULT TO BE ESTIMATED DUE TO
HIGH
EXTERNAL UNCERTAINTIES
    * ADJUSTED FORECAST WITH ASSUMPTION OF NO FURTHER
AGGRAVATION OF
SITUATION: EBIT FOR 2022 FINANCIAL YEAR AT LEVEL OF PREVIOUS
YEAR AND THUS AT LOWER END OF RANGE OF EUR 360 - 390 MILLION
    * Q1 SALES REVENUE AT 808 MILLION EUR VERSUS 697 MILLION IN
Q1
2021
    * WAR IN UKRAINE AND SANCTIONS AGAINST RUSSIA DID NOT YET
HAVE A
SIGNIFICANT IMPACT ON OUR BUSINESS IN Q1
    * GROWTH OF CHINA, WHICH HAS BEEN A STRONG DRIVER OVER LAST
YEARS,
WEAKENED IN Q1 OF 2022
    * EXPECT HIGH RAW MATERIAL PRICE INCREASES AND COST
INFLATION TO
CONTINUE TO WEIGH ON US FOR REST OF YEAR
    * VERY WELL POSITIONED TO MEET ALL THESE CHALLENGES AND,
BASED ON
CURRENT KNOWLEDGE, EXPECT EBIT FOR FINANCIAL YEAR 2022 TO BE AT
SAME LEVEL AS PREVIOUS YEAR.
    * PROFIT AFTER TAX DECREASED BY 6% TO EUR 67 MILLION (71).

Further company coverage:  FPEn.DE 

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