Fuchs reports higher than expected fourth quarter results

Germany’s Fuchs Petrolub AG, with global operations in the lubricant business, reported a better than expected fourth quarter due to excellent results in December. For the year 2011, Fuchs recorded sales revenues of €1,668 million (US$2.2 billion) and earnings before interest and taxes (EBIT) of €264 million (US$348.8 million). The increase in sales revenues of around 14% was accompanied by EBIT growth of just under 6%. Earnings after taxes were €183 million (US$241.7 million). The company said it is planning further organic growth in sales revenues and improved earnings before interest and taxes for the financial year 2012, on the basis that the global economy is expected to “develop positively despite the well-known difficulties” in the Eurozone and in the U.S. Fuchs will publish its complete financial statements for 2011 on March 22. (February 17, 2012)