Fuchs and Quaker Chemical each posted strong results for 2013, compared to 2012.
Independent blender Fuchs Petrolub AG posted 2013 earnings of 218.6 million (U.S. $301.8 million), up 5.6 percent from 207 million in 2012, noting it concluded 2013 with a good fourth quarter. Sales revenue during 2013 reached 1.8 billion, virtually unchanged from sales for 2012.
For 2013, earnings per share rose 5.5 percent to 3.06 ($4.23) per ordinary share and 3.08 per performance share. Mannheim, Germany-based Fuchs also announced that, pending approval by its supervisory board at an annual general meeting May 7, the company has proposed a dividend of 1.40 per preference share and 1.38 per ordinary share for financial year 2013.
Based on forecasts predicting higher growth of the global economy for 2014 compared to 2013, Fuchs anticipates further increases in both sales revenues and earnings, the company stated in its earnings news release.
The company will issue complete financial statements for 2013 on March 20.
Conshohocken, Pa.-based Quaker Chemical reported $14.1 million in net income for 2013s fourth quarter, up 8.5 percent from $13 million in the year-earlier period. For the full year 2013, the companys net income totaled $56.3 million, up 18.8 percent from $47.4 million.
Lubricant supplier Quakers net sales reached $184.3 million in 2013s fourth quarter, up 6.6 percent from $172.9 million in the year-earlier quarter. Full-year 2013 net sales amounted to $729.4 million, up 3 percent from $708.2 million for 2012.
The increase in the companys net sales from the prior year was primarily due to an increase in product volumes generally across all regions, partially offset by a decrease due to foreign exchange rate translation, Quaker Chemical Chairman, CEO and President Michael Barry said in its earnings news release.
Going into 2014, we expect to see modest market growth in all regions of the world, which is a change considering that the global markets have been uneven for the past few years, Barry noted. However, we continue to operate in a competitive environment with some challenging economic conditions and also could incur some increases in raw material costs from current levels.