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FUCHS PETROLUB with decline in sales and earnings in the first half of 2019 - Recovery in the second half of 2019 not visible

FUCHS PETROLUB with decline in sales and earnings in the first half of 2019 - Recovery in the second half of 2019 not visible

FUCHS PETROLUB SE / Key word(s): Half Year Results/Forecast
FUCHS PETROLUB with decline in sales and earnings in the first half of 2019 - Recovery in the second half of 2019 not visible

05-Jul-2019 / 18:41 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


FUCHS PETROLUB with decline in sales and earnings in the first half of 2019 - Recovery in the second half of 2019 not visible

Based on preliminary figures, the FUCHS Group anticipates a decline in sales of -1% to EUR 1.3 billion in the first six month of 2019 and earnings before interest and tax (EBIT) close to 20% below the previous year. The reason for this is the continued global market weakness, particularly in June.

In the forecast for the full year 2019, FUCHS has so far anticipated a recovery in the global economy in the second half of the year and a growth of the automotive industry of 1%. From today's point of view, the expected recovery of the global economy, especially of the automotive industry, is not foreseeable in the second half of the year. This meanwhile affects all markets that are important to us.
For this reason, the Group will not be able to achieve its forecast of sales growth of between +2% and +4% and an EBIT decline of between -8% and -5% for the full year 2019.
An updated outlook for the full year will be published as part of the Half-Year Financial Report 2019 on August 1.

Mannheim, July 5, 2019

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

FUCHS PETROLUB SE
Public Relations
Tina Vogel
Tel. +49 621 3802-1104
tina.vogel@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.

 


05-Jul-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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