fuchs petrolub / q3/2015 conference call€¦ · fuchs petrolub / q3/2015 conference call dr....
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FUCHS PETROLUB / Q3/2015Conference Call
Dr. Alexander Selent, Vice Chairman & CFODagmar Steinert, Head of Investor Relations
Mannheim, 3 November 2015
The first nine months of 2015 at a glance
� Sales revenues up 10% to €1.5 billion (currency +6%; acquisitions +4%)
� Earnings (EBIT) increase by 11% to €261 million
� Outlook for the financial year remains unchanged
2 FUCHS PETROLUB SE
3
Q3/2105: consolidation of PENTOSIN drives external growth
� Organic growth -1.0% or -€4.6 mn
� External growth 7.6% or €36.2 mn
� Currency effects 3.3% or €16.1 mn
483.5
-4.6
36.2 16.1
531.2
200
250
300
350
400
450
500
550
salesQ3/2014
salesQ3/2015
organicgrowth
externalgrowth
currencyeffects
€ mn +€47.7 mn (9.9%)
250
0
FUCHS PETROLUB SE
4
31.6
3.3 2.6
36.2
-2.1
8.7 10.5
16.1
1.6
-2.8 -4.9 -4.6-5
5
15
25
35
45
55€ mn
Asia-Pacific/ Africa
North and South america
Total growth +10.7% +7.0% +9.9% +9.9%
Group*
Organic growth
External growthCurrency effects
Organic growth +0.6% -2.1% -5.9% -1.0%
Regional sales growth3rd quarter 2015
9.2 8.2 47.7
Currency effects -0.7% +6.6% +12.7% +3.3%
Q3/2015: currency and acquisition drive growth in all regions
* Consolidation effect (-€0.8 mn)
External growth +10.8% +2.5% +3.1% +7.6%
FUCHS PETROLUB SE
1,402.8
1.550.6
83.9
1,538.8
1000
1050
1100
1150
1200
1250
1300
1350
1400
1450
1500
1550
1600
1650
sales1-9/2014
sales1-9/2015
organicgrowth
externalgrowth
currencyeffects
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1-9/2015: sales revenues increase by 9.7%
� Organic growth 0.1% or €1.5 mn
� External growth 3.6% or €50.6 mn
� Currency effects 6.0% or €83.9 mn
€ mn +€136.0 mn (9.7%)
1050
1100
FUCHS PETROLUB SE
0
6
38.011.3
2.650.6
-1.9
48.438.6
83.9
5.25.6
-10.2
1.5
-20-10
0102030405060708090
100110120130140150
€ mn
Asia-Pacific/ Africa
North and South America
Total growth +4.9% +17.3% +13.1% +9.7%
Group*
Organic growth
External growthCurrency effects
Organic growth +0.6% +1.5% -4.3% +0.1%
Regional sales growth1-9/2015
65.3 31.0 136.0
Currency effects -0.2% +12.8% +16.3% +6.0%
* Consolidation effect (-€1.6 mn)
External growth +4.5% +3.0% +1.1% +3.6%
1-9/2015: growth in sales revenues broken down into regions
FUCHS PETROLUB SE
1-9/2015: EBIT increase by 10.6%
Euro mn 1-9/2015 1-9/2014 variance
Sales revenues 1,538.8 1,402.8 136.0 9.7%
Gross profit 590.7 522.7 68.0 13.0%
Gross profit margin 38.4% 37.3%
Sales, admin. R&D and other net expenses 341.3 295.8 45.5 15.4%
Expenses as a percentage of sales 22.2% 21.1%
EBIT before income from at equity 249.4 226.9 22.5 9.9%
EBIT margin before income from at equity 16.2% 16.2%
Income from at equity 11.5 9.0 2.5 27.8%
EBIT 260.9 235.9 25.0 10.6%
Earnings after tax 180.9 164.1 16.8 10.2%
Net profit margin 11.8% 11.7%
Earnings per share in €Ordinary sharesPreference shares
1.301.31
1.171.18
0.13 11.1%0.13 11.0%
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1-9/2015: segment earnings increased in all regions
EBIT
1-9/2015
127.6 (125.8)
87.1(70.9)
50.4(43.1)
-4.2(-3.9)
260.9(235.9)
0
50
100
150
200
250
300
Europe Asia Pacific,Africa
North and SouthAmerica
Holdingcosts/cons.
Group
+1.4%
+10.6%+16.9%
+22.8%
€ mn
EBIT margin before income from at equity (previous year)
14.2% 17.3% 18.9% 16.2%(14.6) (16.7) (18.3) (16.2)
FUCHS PETROLUB SE
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Major acquisition fully financed by strong operating cash flow
€ mn 1-9/2015 1-9/2014
Gross cash flow
Changes in net operating working capital
203.3
-34,2
184.2
-40,9
Other changes 2,5 5,7
Operating cash flow 171,6 149,0
Capex -29.1 -23.8
Cash paid for acquisitions -112,3 -21,8
Other changes 3,2 4,5
Free cash flow 33.4 107.9
FUCHS PETROLUB SE
Investments according to plan
€ mn
10
Key investments
Enlargement of the test field in Mannheim, new plants in the US and Australia.
29.1
23.8
1-9/2015 1-9/2014
FUCHS PETROLUB SE
Number of employees increased
11
The number of employees has grown by 235 people since the beginning of the year primarily due to acquisitions.
4,347
4,112 4,124
30 Sept 2015 30 Sept 201431 Dec 2014FUCHS PETROLUB SE
Outlook 2015
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� We expect sales revenues to grow by around 10% for 2015
� We anticipate an increase in EBIT by a higher single-digit percentage for 2015
� We plan investments to exceed the previous year’s value
� We stand by our forecast for 2015 of recording free cash flow in excess of €150 million before capital expenditure in connection with acquisitions
FUCHS PETROLUB SE
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FUCHS PETROLUB SE
Investor Relations
Friesenheimer Str. 17
68169 Mannheim
Telefon 0621 3802 1105, Fax 0621 3802 7274
[email protected] , www.fuchs-oil.de
Thank you for your attention
Disclaimer
FUCHS PETROLUB SE14
This presentation contains statements about future development that arebased on assumptions and estimates by the management of FUCHSPETROLUB SE. Even if the management is of the opinion that theseassumptions and estimates are accurate, future actual developments andfuture actual results may differ significantly from these assumptions andestimates due to a variety of factors. These factors can include changes inthe overall economic climate, procurement prices, changes to exchangerates and interest rates, and changes in the lubricants industry. FUCHSPETROLUB SE provides no guarantee that future developments and theresults actually achieved in the future will match the assumptions andestimates set out in this presentation and assumes no liability for such.