Fuchs Reports Strong 2018

Share

Fuchs Petrolub SE posted 288 million (U.S. $327 million) in earnings after tax for 2018, up 7 percent from 269 million in 2017.

Mannheim, Germany-based Fuchs reported a 4 percent jump to 2.6 billion (U.S. $3 billion) in sales revenue for 2018, according to the company’s preliminary earnings report issued Thursday.

Europe continued as Fuchs’ most profitable region, with sales of 1.55 billion, a 2 percent increase from 1.52 billion in 2017. Asia-Pacific and Africa enjoyed the largest jump in sales, growing 7 percent to 783 million in 2018 from 733 million the year earlier. North and South America posted sales totaling 409 million, up 4 percent from 2017.

Although the company expects further growth in sales revenue in 2019, it believes its costs will rise. “The one-off income of 2018 cannot be repeated, and the high investments in plants, [information technology], research and development and employees, which will continue in 2019, will lead to higher costs increases rather than increases in earnings,” the company said in its preliminary earnings release.

Related Topics

Business    Earnings    Europe    Finished Lubricants    Germany    Region