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Fuchs Petrolub Nine-month Profit Rises; Sees Lower Growth Rates For Q4

Fuchs Petrolub AG (FUPEF.PK), a lubricant producer, reported that its earnings after tax for the first nine months of 2018 increased 11 percent to 219 million euros from 198 million euros in the same period last year. Earnings per ordinary increased to 1.57 euros from 1.42 euros in the previous year.

EBIT for the period rose 6 percent to 297 million euros from 281 million euros in the previous year. A one-off effect from the sale of an at equity share amounting to 12 million euros made a positive contribution.

Sales revenues for the nine months grew 5 percent to 1.95 billion euros from 1.86 billion euros in the same period last year.

The Group's organic growth for the period amounted to 9 percent. Growth accelerated in North America, while momentum in Asia-Pacific, Africa and Europe declined over the course of the year. Currency effects reduced the sales growth by 4 percentage points.

Looking ahead, Fuchs Petrolub noted that for the fourth quarter, lower growth rates can be expected due to increasing global trade disputes, economic uncertainties such as Brexit and current difficulties of automotive manufacturers in Germany and declining automotive demand in China.

Therefore, the Fuchs Group has updated its forecast for fiscal 2018. The company now expects sales revenues growth for the full year of 3 percent to 5 percent.

EBIT before one-off effects is expected at previous year and including income from the sale of an at equity share, EBIT will increase by 2 percent to 4 percent.

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