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Fuchs Petrolub 9-month Preliminary EBIT Down 17%; Lifts FY EBIT Outlook

Fuchs Petrolub AG (FUPEF.PK), a company engaged in the lubricant business, reported that its preliminary earnings or EBIT for the first nine months were down 17% compared to the previous year at 203 million euros. Operating business in the third quarter, especially in September, was significantly above expectations.

Sales for the period were 1.74 billion euros, down 11% from the prior year.

Fuchs expects a further improvement in economic conditions in the fourth quarter and expects in the year 2020 a decline in earnings (EBIT) in the range of 15%, compared to prior outlook of 25% decline in EBIT.

The company will publish the complete results for the third quarter 2020 on November 3, 2020.

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