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FUCHS PETROLUB SE — Earnings Release 2008
Dec 9, 2008
170_rns_2008-12-09_5c478635-fe01-41ad-b51f-e669e4f48665.html
Earnings Release
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Ad-hoc | 9 December 2008 14:01
FUCHS PETROLUB AG adjusts 2008 forecast
Fuchs Petrolub AG / Final Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
FUCHS PETROLUB AG adjusts 2008 forecast
November sales of the worldwide operating FUCHS PETROLUB Group were
noticeably below previous expectations. The significant deterioration of
worldwide economic conditions and the reduction in customer inventory
levels were the key factors. FUCHS expects, that there will be no
significant change in this development in December and therefore adjusts
its 2008 forecast.
The FUCHS PETROLUB Group considers itself well positioned with regard to
its product portfolio. Although our business model is robust, it is not
able to escape from the unparalleled slump in demand. Because of the high
uncertainty over the next few weeks, it is currently not possible to
reliably forecast the fourth quarter profit contribution. Notwithstanding
the current economic conditions, the fourth quarter will contribute
positively to the profits of 2008. Earnings before interest and taxes
(EBIT) for the year 2008 will exceed the EUR144.5 million achieved in the
first nine months of 2008. Profit after tax should be around EUR100
million.
The Group intends to maintain dividends at least at the same level as the
previous year. Furthermore the investments in our speciality business, in
research and development and in selected growth markets will continue as
planned. In addition, the almost completed share buy back will be
continued. This emphasizes, that FUCHS is planning long term and is
confident with regard to its speciality strategy.
At the end of February 2009 the FUCHS Group will report preliminary figures
for the year 2008 and will then, like in previous years, provide a forecast
on the year 2009.
Mannheim, December 9, 2008
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Phone: ++49 (0) 621 3802 – 105
The ad hoc message can also be found on the Internet at
http://www.fuchs-oil.com.
Important note
This ad hoc message contains statements about future development 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 to 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 ad hoc message and
assumes no liability for such.
09.12.2008 Financial News transmitted by DGAP
Language: English
Issuer: Fuchs Petrolub AG
Friesenheimer Str. 17
68169 Mannheim
Deutschland
Phone: +49 (0)621 / 3802-0
Fax: +49 (0)621 / 3802-190
E-mail: [email protected]
Internet: www.fuchs-oil.de
ISIN: DE0005790406, DE0005790430
WKN: 579040, 579043
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
End of News DGAP News-Service