Corporate | 25 February 2011 07:00
Fuchs Petrolub AG / Key word(s): Preliminary Results
25.02.2011 / 07:00
FUCHS proposes significant dividend increase after a very successful year
2010
- Strong increase in revenues and profits
- Significant increase in dividend proposed to 2.70 EUR per preference
share
FUCHS PETROLUB AG, with global operations in the lubricants industry,
increased revenues by 23.8%, after a decrease of 15.5% the year before. The
group profited in all regions from the fast and strong recovery of the
world economy. FUCHS achieved revenues of EUR 1,459 million (1,178) and
generated 39% more in earnings before interest and taxes (EBIT) at EUR
250.1 million (179.9). Earnings after taxes were EUR 171.6 million (121.4).
Earnings per ordinary share were EUR 7.18 (5.07) and per preference share
EUR 7.24 (5.13), both approximately 41% above the previous year's level.
All figures are still provisional.
Free cash flow in the reporting year was at EUR 77.7 million (180.8) after
acquisition payments for the food grade lubricants business and the
financing of the strong growth in revenues.
Subject to a corresponding resolution of the Supervisory Board on March 23,
2011, the Executive Board of FUCHS PETROLUB AG will propose a dividend of
EUR 2.70 (1.70) per preference share and EUR 2.64 (1.64) per ordinary share
to the Annual General Meeting to be held on May 11, 2011.
For the year 2011 FUCHS PETROLUB plans further revenue growth. New
recruitments with a focus on research and sales as well as the expansion of
the group infrastructure are the basis for future organic growth.
Considering the worldwide increase in raw material prices, increased
geopolitical risks and the planned increase in personnel and other costs,
the group strives to tie on to the record earnings before interest and
taxes (EBIT) recorded in 2010.
The complete financial statements for 2010 will be published on March 24,
2011 and presented at the press conference.
Key data
(Values in EUR million) 2010 (1) 2009
Sales revenues 1,458.6 1,178.1
EBIT 250.1 179.9
Profit after tax 171.6 121.4
Earnings per share in EUR
Ordinary shares 7.18 5.07
Preference shares 7.24 5.13
Dividend in EUR
Ordinary shares 2.64(2) 1.64
Preference shares 2.70(2) 1.70
Free Cashflow 77.7 180.8
Employees (31.12.) 3,584 3,488
(1) Preliminary figures
(2) Proposal of the Executive Board
Mannheim, February 25, 2011
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel.: ++49 (0) 621 3802 - 1124
The information below can be accessed at the following web addresses:
Press release:
http://www.fuchs-oil.com
Press photos:
http://www.fuchs-oil.com/pressphotos.html
Important note
This press release contains statements about future developments that are
based on assumptions and estimates by the management of FUCHS PETROLUB AG.
Even if the management is of the opinion that these assumptions and
estimates are accurate, future actual developments and future actual
results may differ significantly from these assumptions and estimates due
to a variety of factors. These factors can include changes in the overall
economic climate, changes to exchange rates and interest rates, and changes
in the lubricants industry. FUCHS PETROLUB AG provides no guarantee that
future developments and the results actually achieved in the future will
agree with the assumptions and estimates set out in this press release and
assumes no liability for such.
End of Corporate News
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Language: English
Company: Fuchs Petrolub AG
Friesenheimer Str. 17
68169 Mannheim
Deutschland
Phone: +49 (0)621 / 3802-0
Fax: +49 (0)621 / 3802-190
E-mail: contact-de.fpoc@fuchs-oil.de
Internet: www.fuchs-oil.de
ISIN: DE0005790430, DE0005790406
WKN: 579043, 579040
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
End of News DGAP News-Service
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