FUCHS PETROLUB SE — Earnings Release 2009

May 5, 2009

News Details

Corporate | 5 May 2009 07:00

Fuchs Petrolub AG: Net profit of EUR16 million for the first quarter of 2009 remained at the level of the fourth quarter of 2008, as expected

Fuchs Petrolub AG / Quarter Results

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

---

Net profit of EUR16 million for the first quarter of 2009 remained at the
level of the fourth quarter of 2008, as expected

• Collapse in demand continues during first quarter
• Cost-cutting measures are taking effect
• Free cash flow rose to EUR39 million
• Group equity ratio improved from 45% to 47%

Performance
The FUCHS PETROLUB Group was unable to defy the recession in the first
quarter of 2009 and, like the global lubricants market, recorded a
significant drop in demand. Revenue was EUR278.5 million (350.7), a fall of
20.6% against the very good first quarter of 2008.

As a result of the decline in sales revenue, the gross profit of EUR95.3
million (128.3) fell by EUR33.0 million or 25.7%. The gross margin was
34.2% (36.3). In the immediately preceding fourth quarter this figure was
32.1%. Cost reductions in all areas counteracted the fall in gross profits
to a certain extent: In particular, expenses relating to sales and
administration were reduced, while R&D expenses were largely maintained at
the previous year's levels.

Earnings before interest and tax (EBIT) amounted to EUR26.5 million (48.7),
45.6% less than in the previous year. However, the EBIT margin, that is the
EBIT in relation to sales revenues, is 9.5% (13.9). The comparison with the
fourth quarter of 2008 shows that the gross margin is growing and our cost
reduction measures are taking effect. After income taxes of EUR7.6 million
(14.8), this leaves a net profit of EUR16.2 million (32.1). Earnings per
ordinary share amount to EUR0.67 (1.27), while earnings per preference
share are EUR0.69 (1.28).

Despite the difficult economic conditions, the net assets and financial
position of the Group remains stable. It was even possible to increase the
equity ratio to 47.0% (44.8% at the end of 2008).

Cash flow development was pleasing, primarily due to the reduction in
inventories: The Group generated a free cash flow of EUR39.2 million in the
first quarter of 2009. This allowed financial liabilities to be reduced and
the liquidity cushion to be increased.

Employees
As of March 31, 2009, the workforce of the FUCHS PETROLUB Group consisted
of 3,730 employees worldwide; this is 125 less than at the beginning of the
year. The drop in staff numbers in all regions is a reflection of the
initial measures taken to adapt to the considerable decline in the Group's
global sales revenues.

Outlook
There are currently no indications that a significant improvement in the
economic situation and therefore in the demand for lubricants is to take
place. In the first quarter, the FUCHS PETROLUB Group has taken the
necessary measures required to secure its earning power in this environment
while at the same time equipping it for the future. This includes both
expanding and securing profitable revenue sources and continuing strict
cost management, while at the same time paying increasing attention to the
cash flow. These measures and the continuation of the investment in the
specialty business, research and development and growth markets put the
Group on a firm footing for the future.

The extent to which the economic development will allow the coming quarters
to see similar or even higher earnings before interest and tax than the
first quarter of 2009 remains to be seen.

The first quarter of 2009 at a glance

(in EUR million) 1-3/2009 1-3/2008
Sales revenues (1) 278.5 350.7
Europe 177.9 244.0
North and South America 44.8 48.3
Asia-Pacific, Africa 61.2 66.3
Consolidation -5.4 -7.9
Earnings before interest and tax (EBIT) 26.5 48.7
Net profit for the first quarter 16.2 32.1
Earnings per share in EUR
Ordinary share 0.67 1.27
Preference share 0.69 1.28
Gross cash flow 20.1 35.3
Capital expenditure (2) 7.2 8.0
Employees (as at March 31) 3,730 3,829

(1) By company location
(2) In property, plant and equipment and intangible assets

Mannheim, May 5, 2009

FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Germany
Tel.: ++49 (0) 621 3802-124

The information below can be accessed at the following web addresses:

Press release:
http://www.fuchs-oil.com

Quarterly report for the first quarter of 2009:
http://www.fuchs-oil.de/fileadmin/fuchs_upload/pdf_addons/QR2009/QB14e.pdf

Press photos:
http://www.fuchs-oil.de/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.
05.05.2009 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: contact-de.fpoc@fuchs-oil.de
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

---