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FUCHS 9-month EBIT Up 1%; Sees Lower Growth Rates For Remainder Of 2018

FUCHS (FUPEF.PK) reported that, in the first nine months of 2018, the Group generated an increase in sales of 5% to 1.95 billion euros, and a growth in EBIT of 1% to 285 million euros. Including income from the sale of an at equity share, EBIT increased by 6% to 297 million euros.

FUCHS said the current difficulties of the automotive manufacturers in Germany and the declining demand for cars in China suggest lower growth rates for the remainder of the year 2018. The company now expects sales growth for the full year to be between 3% and 5% and the EBIT before special effect as in the previous year, at 373 million euros. Including the special effect, the company expects an earnings growth in the range of 2% and 4%.

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