DGAP-Adhoc: FUCHS PETROLUB SE announces new earnings outlook for the current financial year
DGAP-Ad-hoc: FUCHS PETROLUB SE / Key word(s): Change in Forecast/Preliminary Results 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 Important note
27-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | FUCHS PETROLUB SE |
Friesenheimer Str. 17 | |
68169 Mannheim | |
Germany | |
Phone: | +49 (0)621 / 3802-0 |
Fax: | +49 (0)621 / 3802-7190 |
E-mail: | [email protected] |
Internet: | www.fuchs.com/gruppe |
ISIN: | DE0005790430, DE0005790406 |
WKN: | 579043, 579040 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
EQS News ID: | 1102681 |
End of Announcement | DGAP News Service |
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1102681 27-Jul-2020 CET/CEST
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