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FUCHS PETROLUB Prelim. 2018 EBIT, Before One-off Effect, Down 1%; Revenues Up 4%

FUCHS PETROLUB SE (FUPEF.PK) reported that its preliminary 2018 earnings after tax improved 7% to 288 million euros. Earnings per share was 2.06 euros compared to 1.93 euros. EBIT amounted to 383 million euros compared to 373 million euros and includes a one-off effect of 12 million euros from the sale of an at equity share. EBIT before one-off effect declined 1% to 371 million euros.

Fiscal 2018 sales revenues were up 4% to 2.6 billion euros. The Group's dividend was proposed to increase 4% to 0.95 euros per preference share.

In 2019, FUCHS expects: further, albeit lower sales revenues growth of between 2% and 4%; earnings decrease by 8% to 5%; and EBIT comparable (before one-off income in 2018) to decline in a range of 5% to 2%.

For 2019, FUCHS is also planning investments of 180 million euros. In particular these investments will target Germany, China, the US, Sweden, Russia and the UK. FUCHS expects free cash flow before acquisitions of around 100 million euros in 2019.

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