FUCHS PETROLUB SE announces new earnings outlook for the current financial year

FUCHS PETROLUB SE announces new earnings outlook for the current financial year

As expected, in the first half of 2020, FUCHS recorded sales revenues of 14% and earnings (EBIT) of 29% below the previous year.

In April 2020, FUCHS PETROLUB SE suspended the outlook for the current year as a result of the considerable impact of the COVID-19 pandemic.

Based on today's assessment of the effects of the COVID-19 pandemic, FUCHS has determined a new forecast for the financial year 2020 and expects a drop in earnings in the range of 25%.

The effects of the crisis on supply chains, production and customer demand cannot be reliably estimated currently. A second pandemic wave and an associated further decline in demand due to a recession could have a negative impact on the economic development of FUCHS and is not taken into account in the current forecast for the full year.

FUCHS is well positioned to face the crisis and has a solid financial basis. The stability and structure of the balance sheet form a sound foundation for further development. Both the low proportion of fixed costs and the high proportion of raw materials have a positive effect. This allows us to breathe flexibly with sales. In addition, FUCHS once again benefits from its worldwide presence and broad product portfolio.

The complete half-year financial report 2020 will be published as scheduled on July 30, 2020.

Mannheim, July 27, 2020

Contact

FUCHS PETROLUB SE
Investor Relations
Thomas Altmann
Tel. +49 621 3802-1105
thomas.altmann@fuchs.com

Important note
This ad hoc release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS PETROLUB SE. Even if the management is of the opinion that these assumptions and estimates are accurate, actual future developments and results can differ significantly from these assumptions and estimates due to a variety of factors. These factors can, for example, include changes in the overall economic climate, changes in procurement prices, changes in exchange rates and interest rates, and changes within the lubricants industry. FUCHS PETROLUB SE provides no guarantee that future developments and the results actually achieved in the future will match the assumptions and estimates set out in this ad hoc release and assumes no liability for such.