FUCHS opens new, state-of-the-art plant in Ba Ria-Vung Tau, Vietnam

The FUCHS Group, which operates globally in the lubricants industry, is opening a new plant in Ba Ria-Vung Tau, Vietnam. The investment of EUR nine million in the high-tech plant will enable FUCHS Vietnam to serve the growing demand for lubricants in this region and to respond faster to local market demands. In addition, the range of FUCHS products in Vietnam will be expanded and diversified to suit the strong growth potential of the Vietnamese market. The official inauguration ceremony took place on September 14, 2023.

State-of-the-art plant
The new plant covers an area of 20,000 m² and will be expanded in two construction phases, the first of which has already been completed. The modern plant consists of offices, laboratory, production and filling, a tank farm and a warehouse. Currently, the plant has a capacity of 20,000 tonnes per year, which can be expanded in the second construction phase. The high-performance production portfolio includes automotive oils, industrial oils, metal working fluids and products for the mining industry, which FUCHS Vietnam will be able to offer its customers from a single source in the future. Production will start in the fourth quarter of 2023.

Stefan Fuchs, Chairman of the Executive Board of FUCHS SE, appreciates the great importance of the new opening: "My thanks go to to our joint venture partner, Nguyen Mai Son, for his vision and unwavering commitment to FUCHS and the Vietnamese market. Without his support the construction would not have been possible. Our Vietnamese joint venture with the owner of STD & S Co., Ltd. has paved the way for the FUCHS Group in this important market and laid the foundation for another important base in Asia."

Daniel Henn, Managing Director FUCHS Vietnam, adds: "This is a historic moment for FUCHS Vietnam. We are celebrating the expansion of our global presence and the strengthening of our local capabilities here at the right time, as Vietnam is an emerging market with great growth potential and plays a key role in diversifying supply chains. We are excited to be part of Vietnam's promising future with our new plant, while providing even better product solutions and services to our customers."

FUCHS active in Vietnam since 2013
FUCHS has been active in Vietnam with a sales office since 2013. In 2021, the FUCHS Group acquired 70% of the lubricants business of STD & S Co., Ltd., a distributor of specialty lubricants based in Vietnam. The business was integrated into the subsidiary FUCHS LUBRICANTS VIETNAM COMPANY LTD. in which the owner of STD & S Co., Ltd. holds a 30% share. By the end of 2023, FUCHS LUBRICANTS VIETNAM will increase its workforce to 35 employees. In the fiscal year 2022 the company achieved sales in the mid single-digit million range.
 

Mannheim, September 14, 2023 

FUCHS SE
Public Relations
Einsteinstraße 11, 68169 Mannheim
Phone +49 621 3802-1104
E-Mail: tina.vogel@fuchs.com

The following information can be accessed via the Internet:
Press release 2021: “FUCHS strengthens presence in Vietnam through joint venture“
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/ 

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

Important note
This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS 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 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 press release and assumes no liability for such.

FUCHS further intensifies activities in South America and takes over 100% of FUCHS LUBRICANTS SpA in Chile

The FUCHS Group, which operates globally in the lubricants industry, expands its presence in South America with the full acquisition of FUCHS LUBRICANTS SpA in Chile. On September 1, 2023, the joint venture seamlessly transitioned into a wholly owned subsidiary of the FUCHS Group.

FUCHS LUBRICANTS SpA was founded in 2018 when FUCHS acquired the lubricants business of Comercial Pacific Ltda. in Chile and integrated it into the newly founded company – with FUCHS holding 65% of the shares at that time and Comercial Pacific Ltda. the remaining 35%.

“We thank our joint venture partner Andre Boeck and the team of Comercial Pacific for our successful time together. With Chile being an important lubricant market in South America, this transaction is another milestone on our journey to further strengthen our business activities in the Southern part of the Americas,” states Dr. Timo Reister, Member of the Executive Board at FUCHS and responsible for the North and South America region.

Yasser Majluf, Managing Director of FUCHS Lubricants SpA in Chile, adds: “The Chilean lubricant market offers significant potential for FUCHS. We see a strong trend towards high performance lubricants. With our growing local FUCHS team in Chile, we are happy to support our expanding customer base in segments like mining, food, wind power and automotive.”

Mannheim, September 4, 2023

FUCHS SE
Public Relations
Einsteinstrasse 11
68169 Mannheim
Tel: +49 (0)621 3802-1104
E-mail: tina.vogel@fuchs.com
 

The following information can be accessed via the Internet:

Press release 2018: “FUCHS strengthens presence in South America with the acquisition of the lubricants business from Comercial Pacific Ltda., Chile“ 

Image and video material: https://www.fuchs.com/gb-en/photo-gallery/ 

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

  FUCHS successfully concludes first half-year

• Sales revenues increased price-driven significantly by 11% to EUR 1,822 million
• EBIT of EUR 200 million 11% above prior year
• Free Cashflow before acquisitions at EUR 164 million significantly above prior year
• Forecast for free cash flow before acquisitions raised to around EUR 300 million
  (previously: around EUR 250 million)

 FUCHS at a glance

1. By company location

“After a good first quarter, with an EBIT of EUR 97 million we also achieved our plan in the second quarter. The first half of the year saw an 11% increase in EBIT, reaching EUR 200 million, putting us on track to meet our full-year forecast. Mainly the EMEA region, with contributions from a variety of countries showed significant growth compared to previous year, with contributions from many countries. We are especially pleased with the positive development in the Nordic region.

In the past two years, we faced substantial increases in raw material costs and availability issues, resulting in a significant rise in inventories and receivables. During the first half of this year, we managed to turn this trend around, leading to an overall free cash flow before acquisitions of EUR 164 million. Based on this performance, we are raising our forecast for free cash flow before acquisitions to around EUR 300 million. We are moving forward with confidence despite the well-known market volatility. At the same time, we are investing in our future, particularly focusing on digitalization.”

Stefan Fuchs, Chairman of the Executive Board FUCHS SE

Business development in the Group

In the first six months of 2023, FUCHS recorded sales revenues of EUR 1,822 million (1,640), which were 11% above the prior-year period.
Growth in all regions was predominantly driven by price increases of the prior year, while all regions recorded negative currency effects.
EBIT also benefitted from the price increases of the prior year and increased by EUR 20 million or 11% to EUR 200 million, compared to the prior-year period.
At 11.0%, the EBIT margin was on level of the first half of 2022.
While both regions, EMEA and North and South America, increased their EBIT, the Asia-Pacific region recorded a slight decline.
Earnings after tax increased by 9% to EUR 141 million (129).
The earnings per share was EUR 1.03 (0.92) for the ordinary share and 1.04 (0.93) for the preference share.
Free cashflow before acquisitions was at EUR 164 million (0) significantly above the prior-year figure and benefited despite higher investments from a lower built-up in net operating working capital.

Business development in the regions

At EUR 1,067 million (987), sales revenues in the EMEA region were 8% higher than in the first six months of 2022, driven by price increases. EBIT rose by 18% to EUR 99 million (84). Germany, Great Britain, Italy, Poland and in particular Sweden contributed to the earnings increase.

The Asia-Pacific region increased sales revenues by 8% to EUR 491 million (454), driven by price increases. EBIT was slightly lower than the prior-year period at EUR 52 million (55) due to a restrained economic recovery in China.

The North and South America region recorded the highest sales revenues growth of 17% to EUR 352 million (300). EBIT increased by 11% to EUR 39 million (35) due to the positive business development, especially in the USA and Brazil, despite slightly negative currency effects.

Forecast for free cashflow before acquisitions raised

FUCHS continues to operate in a highly volatile environment. Uncertainty with regard to the economic development as well as raw material and thus also sales prices must be taken into account. Due to a positive development of funds tied up in net operating working capital, FUCHS is slightly adjusting its forecast for free cash flow before acquisitions:

• Sales revenues: around EUR 3.6 billion
• EBIT: around EUR 390 million
• FVA: above the previous year (EUR 172 million)
• Free cash flow before acquisitions: around EUR 300 million
  (before: around EUR 250 million)

The global positioning and solid financial base remain robust, and FUCHS continues to focus on profitable growth and the implementation of FUCHS2025.

Mannheim, July 28, 2023

FUCHS SE

Public Relations

Einsteinstraße 11

68169 Mannheim

Tel. +49 (0)621 3802 1104

tina.vogel@fuchs.com 

www.fuchs.com/group 

The following information can be accessed via the Internet:

Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

About FUCHS

Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest

independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,100 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

Important note

This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS 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 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 press release and assumes no liability for such.

FUCHS PETROLUB SE becomes FUCHS SE

FUCHS PETROLUB SE will be operating under the name of FUCHS SE in future. The resolution to change the name was passed at the Annual General Meeting on May 3, 2023.

"The term PETROLUB refers to the origin of the raw materials and is of no relevance today either in brand communication or in the company names of the Group companies, and it can lead to a misconception of our business model," explains Chief Technology Officer Sebastian Heiner. FUCHS has been focusing for a long time on the development, manufacture and distribution of highly efficient lubrication solutions for the operation of equipment and machinery. In light of increasing technical requirements and sustainability efforts, the focus is on high-performance raw materials from sustainable sources, which is why the name component PETROLUB is no longer appropriate. In addition, the word PETROLUB is not part of the company name of the 56 FUCHS subsidiaries worldwide and is therefore not an issue from the customer's point of view.

"As a high-tech company, we want to expand our technology leadership in strategically important application areas, be it in the fields of digitalization, future mobility or sustainability. With the current renaming, we are underlining our focus on advanced, process-oriented and holistic solutions for lubricants and functional fluids," says CEO Stefan Fuchs.

Today, the FUCHS product portfolio comprises more than 10,000 products in almost all industry segments, including novel functional fluids such as thermofluids, which regulate the temperature in the drive of electric cars or are also used in large data centers.

The renaming to FUCHS SE is expected to take place on July 3, 2023.

Mannheim, May 3, 2023

FUCHS PETROLUB SE
Public Relations
Einsteinstrasse 11
68169 Mannheim
Tel: +49 (0)621 3802-1104
E-mail: tina.vogel@fuchs.com
 

The following information can be accessed via the Internet:
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/
 

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

  FUCHS starts into the year 2023 successfully

• Sales revenues increased price-driven significantly by 16% to EUR 936 million
• EBIT of EUR 103 million 11% above prior year
• Free Cashflow before acquisitions at EUR 52 million significantly above prior year
• Forecast 2023 confirmed

 FUCHS at a glance

1. By company location

“With EBIT at EUR 103 million, we have started the new year very well. The necessary price adjustments in the course of 2022 due to sharply rising raw material costs and high inflation rates take effect and enable an increase in gross profit year-on-year and also cover the inflation-related cost increases, particularly in the areas of energy, personnel and freight costs. In total, FUCHS improved its EBIT in the first quarter by EUR 10 million or 11% year-on-year. The largest contribution to this increase in earnings was made by the EMEA region, with an increase of EUR 6 million, or an impressive 14%. In addition, North and South America also saw business growth and an increase in earnings of EUR 2 million or 12%. In the Asia-Pacific region, on the other hand, the covid-19-related difficult start to the year in China put a strain on the development of the region, resulting in a slight decline in earnings of EUR 1 million or 3%.
Based on the very good first quarter, we look forward to the coming months with confidence. At the same time, there are continuing uncertainties regarding the further development of the economic environment and the development of raw material prices. Overall, we confirm our forecast for the full year and anticipate an EBIT of around EUR 390 million.”

Stefan Fuchs, Chairman of the Executive Board FUCHS PETROLUB SE

Business development in the Group

In the first three months of 2023, FUCHS recorded sales revenues of EUR 936 million (808), which were 16% above the prior-year period.
The growth of all regions was mainly price-driven, positive currency effects of the region North and South America could not fully compensate for negative currency effects of the regions EMEA and Asia-Pacific.
The EBIT benefitted from the price increases of the prior year and increased by EUR 10 million or 11% to EUR 103 million, compared to the prior-year period.
At 11.0%, the EBIT margin was below the prior-year level (11.5) but increased by 1.2 percentage points compared to the fourth quarter 2023.
While both regions, EMEA and North and South America, increased their EBIT, the Asia-Pacific region recorded a slight decline.
Earnings after tax increased by 9% to EUR 73 million (67).
The earnings per share was EUR 0.54 (0.48) for both, the ordinary and the preference share.
Free cashflow before acquisitions was at EUR 52 million (13) significantly above the prior-year figure and benefited despite higher capital expenditure from a lower built-up in net operating working capital.

Business development in the regions

At EUR 552 million (481), sales revenues in the EMEA region were 15% higher than in the first three months of 2021, driven by price increases. EBIT rose by 14% to EUR 50 million (44). Germany, Sweden, the United Kingdom and Poland in particular contributed to the earnings increase.
The Asia-Pacific region increased sales revenues by 6% to EUR 252 million (237), driven by price increases. EBIT was slightly lower than the prior-year quarter at EUR 28 million (29) due to a slow start to the year in China.
The North and South America region recorded the highest sales revenues growth of 28% to EUR 181 million (141). The entire region benefited from price increases and positive business development. EBIT increased slightly to EUR 19 million (17) due to the positive business development and positive currency effects.

Forecast confirmed

FUCHS continues to operate in a highly volatile environment. Uncertainty with regard to the economic development as well as raw material and thus also sales prices must be taken into account. Based on a very good first quarter, we maintain our forecast for the full year:

• Sales revenues: approx. EUR 3.6 billion
• EBIT: approx. EUR 390 million
• FVA: above the previous year (EUR 172 million)
• Free cash flow before acquisitions: around EUR 250 million

Our global track record and solid financial base remain robust, and FUCHS continues to focus on profitable growth and the implementation of FUCHS2025.

Mannheim, April 28, 2023

FUCHS PETROLUB SE

Public Relations

Einsteinstraße 11

68169 Mannheim

Tel. +49 (0)621 3802 1104

tina.vogel@fuchs.com 

www.fuchs.com/group 

The following information can be accessed via the Internet:

Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

About FUCHS

Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest

independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,100 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

 Important note

This press 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 press release and assumes no liability for such.

FUCHS successfully completes challenging year 2022

• Sales revenues increased significantly by 19% to EUR 3.4 billion driven by price
• EBIT of EUR 365 million slightly above prior year
• Dividend increase by 4% to EUR 1.07 per preference and EUR 1.06 per ordinary share
• Forecast 2023 with sales revenues around EUR 3.6 billion and EBIT around EUR 390 million

 FUCHS at a glance

1. By company location

FUCHS achieved an EBIT of EUR 365 million in the very challenging year 2022, slightly above the prior year. Sales of EUR 3.4 billion, which were driven in particular by prices, increased by 19% year-on-year.
As expected, the increases in raw material costs and the resulting sales price increases led to a significant inflation of net operating working capital. As a result, Free cash flow and FUCHS Value Added (FVA) were unable to match the previous year's figures despite a good finish in the fourth quarter. The balance sheet structure remains extremely robust and provides ample scope for internal and external growth in the coming years.
“The Russian-led war in Ukraine was the most affecting theme for us in 2022. It is an incomprehensible act and something we unreservedly condemn. Our thoughts are especially with our colleagues in Ukraine, who are working with pride and courage in their homeland. Already volatile commodity markets have become even more heavily strained by this war. Supply bottlenecks with an unprecedented shortage of raw materials, roughly 70% increases in raw material costs in just two years, and high inflation rates impacting our costs preoccupied us throughout the whole year. Our primary goal was to ensure a secure supply for our customers even in these extreme conditions, which we achieved through an exceptional all-round team performance. In China, our growth market of the past few years, the country’s zero-Covid policy has paralyzed the economy and thereby affected our business. The recent reversal of this policy will revive China’s economy in the course of 2023, but it caused a near-complete standstill by the end of 2022. We are proud that the decline in China was offset by very good developments in a large number of other countries.”

Stefan Fuchs, Chairman of the Executive Board FUCHS PETROLUB SE

Business development in the regions

In the past financial year, FUCHS was able to significantly increase sales revenues in all regions. EBIT also increased year-on-year, except for the Asia-Pacific region.
The EMEA region generated sales revenues of EUR 2,036 million (1,710) in the past financial year, which were EUR 326 million or 19% higher than in the prior year, driven by prices. The region was confronted with high cost increases in the past fiscal year, but was able to offset these additional burdens and improve EBIT by EUR 4 million to EUR 170 million (166).
The Asia-Pacific region reported sales of EUR 929 million (855) for the past fiscal year and overall growth of EUR 74 million or 9%, primarily driven by foreign exchange. EBIT of EUR113 million (122) fell short of the very good prior-year result by EUR 9 million. The weak development of China due to the lockdown had a negative impact on the region. India, Southeast Asia and Australia, on the other hand, achieved encouraging growth in earnings.
Following high sales growth in the previous year, the North and South America region also delivered convincing growth rates in 2022, driven by business expansion, price increases and positive currency effects. Sales revenues increased by no less than 39% from EUR 471 million to EUR 653 million. EBIT increased by 28% to EUR 77 million (60) and contributed EUR 17 million more to the Group's earnings than in the previous year. Nye Lubricants, the North American specialties producer acquired in 2020, and the Mexican subsidiary were the main contributors to the positive earnings trend. South America also developed positively.

 21st consecutive increase in dividend

For 2022 again, FUCHS proposes to the Annual General Meeting a dividend increase by 4%, to EUR 1.07 (1.03) per preference share and EUR 1.06 (1.02) per ordinary share. Strong growth in sales revenues and robust earnings in a challenging economic environment underpin the success of FUCHS’s business model. Therefore, in line with the dividend policy of an annually increasing dividend, an increase in the dividend can also be envisaged for 2022. For FUCHS, the dividend policy is a key pillar of the company’s philosophy of allowing its shareholders to participate in the company’s success.

Forecast for 2023 a further step towards EBIT target 2025

The general economic uncertainty goes hand in hand with a high degree of uncertainty regarding the further development of raw material prices and thus also sales prices. Accordingly, it is difficult to forecast the development of sales revenues for the year 2023. At the present, FUCHS is planning sales revenue growth in the mid-single-digit percentage range and thus sales revenues of around EUR 3.6 billion for the year 2023. This growth results on the one hand from an increase in business volume and on the other hand from ripple-effects from increases in selling prices implemented last year. In terms of earnings, FUCHS expects to generate EBIT of around EUR 390 million. This will be achieved by continued rigorous cost management with a firm limitation on new hires. At the same time, further inflation-related cost increases are expected, particularly in the area of personnel and freight costs. Capital expenditure will remain at the previous year's level and are planned at around EUR 80 million. FVA is expected to be higher than previous year (172). In view of the forecasted earnings, constant capital expenditures and a significantly lower build-up of NOWC compared with the prior year, we expect to be able to achieve Free cash flow before acquisitions of around EUR 250 million.

Further milestones achieved with FUCHS2025

“In 2022, as part of FUCHS2025, we continued to work and improve in the three dimensions of culture, structure and strategy. Here, we focused intensively on the three megatrends of sustainability, digitalization and the shift in mobility. Each of these three areas presents great challenges but also major opportunities for our organization, which we are consistently addressing:
Sustainability is central to what we are about as a company. Our companies are working hard to make our vision of complete climate neutrality a lived reality. The basic properties and modes of action of lubricants are designed to prevent wear and friction in their application, which substantially reduces our customers’ environmental footprint.
“FUCHS goes digital” is an important program to provide our customers with an efficient and easy purchasing experience while making our processes and workflows in the company smoother, safer and more efficient.
The shift in mobility is an exciting challenge. Overall, we see significantly more opportunities than risks for our business. In terms of battery-powered cars, an additional market for cooling, electric driveline fluids and specialty electrolytes is developing, and we will benefit from it over the long term.”

Stefan Fuchs, Chairman of the Executive Board FUCHS PETROLUB SE

Mannheim, March 8, 2023

FUCHS PETROLUB SE
Public Relations
Einsteinstraße 11
68169 Mannheim
Tel. +49 (0)621 3802 1104
tina.vogel@fuchs.com 
www.fuchs.com/group 

 
The following information can be accessed via the Internet:
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

About FUCHS

Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,100 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.

FUCHS extends Executive Board contracts of Dr. Timo Reister and Dr. Ralph Rheinboldt

In today's meeting, the Supervisory Board of FUCHS PETROLUB SE resolved to confirm Executive Board members Dr. Timo Reister and Dr. Ralph Rheinboldt in their roles for a further term of five years to December 2028.

With this contract extension, FUCHS is ensuring the experience and expertise of two long-standing Executive Board members. In 2022, the appointment of two new Executive Board members has already initiated a rejuvenation of the top management - with a clear focus on sustainability, digitization, and internationality. "With the newly formed Executive Board team we are excellent prepared for the future. The combination of continuity, experience, and new stimulus from outside will help us to master upcoming challenges," says Chairman of the Supervisory Board, Dr. Christoph Loos.

Dr. Timo Reister is 43 years old, has been with the company for 13 years, and an Executive Board member since 2016. He is responsible for the Asia-Pacific and America regions, as well as the Automotive Aftermarket Division and, as of April, the OEM and Mining Divisions.

Dr. Ralph Rheinboldt is 55 years old, has been with the company for 24 years, and an Executive Board member since 2009. His area of responsibility covers the EMEA region (Europe, Africa, and the Middle East) as well as the Industry and Specialties Divisions.

The two new members joining the Executive Board are Isabelle Adelt (38) and Dr. Sebastian Heiner (44). Adelt took on the role of CFO on November 1, 2022. On January 1, 2023, Dr. Heiner became CTO, succeeding Dr. Lutz Lindemann (62), who will leave the Executive Board at the end of March and enter his well-deserved retirement in mid-2023.

The contracts of Stefan Fuchs, Isabelle Adelt, and Dr. Sebastian Heiner are set to end on different dates. The contract of Stefan Fuchs (55) will run until the end of June 2026. CFO Isabelle Adelt's contract expires at the end of October 2025, and that of CTO Dr. Sebastian Heiner at the end of December 2025.

Mannheim, March 7, 2023

FUCHS PETROLUB SE
Public Relations
Einsteinstraße 11
68169 Mannheim
Tel: +49 (0)621 3802-1104
E-mail: tina.vogel@fuchs.com

The following information is available online:

Image and video material: https://www.fuchs.com/gb-en/photo-gallery/

About FUCHS
Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,000 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner.