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The lubricant manufacturer FUCHS PETROLUB achieved a net turnover of 219 million euros in the third quarter, an increase of 11%.
A special gain from the sale of a 12 million euro stake and a lower tax rate have contributed to this situation, as announced by FUCHS PETROLUB at the presentation of the interim balance sheet. Without this effect, the earnings trend was significantly flatter: Adjusted EBIT only increased by 1% to 285 million euros. Among other things, ongoing investments are responsible for this.
However, growth has also slightly weakened recently. Sales rose 5% to 1.95 billion euros. Negative currency effects depleted 4 percentage points of additional organic growth. A week ago, the Mannheim company had a profit warning Negatively surprised and already called provisional numbers. CEO Stefan FUCHS PETROLUB said that the "generally favorable economic environment" was clouded by "growing trade conflicts and economic uncertainties in different countries". Especially in Germany and China, it anticipates a slowdown in the growth of the important automotive sector.
The operating result should therefore remain at the level of the previous year and not increase by 4% as originally planned.
FRANKFORT (Dow Jones)
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