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Tuesday, July 14, 2020

Börse Express – ROUNDUP: Fuchs Petrolub with a bleak outlook for the second quarter

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The lubricant manufacturer Fuchs Petrolub
takes its targets because of the corona virus pandemic
the fiscal year 2020 back. This works especially in the second quarter
Management around CEO Stefan Fuchs from clear
Reduced earnings by 50 percent, as in the MDax
Companies listed in Mannheim on Thursday
announced. The difficulties will increase in the second
Continue half year, albeit in a weakened form, according to
Hope of the group. The goals published in March will
Companies therefore cannot meet.

On the stock market, the share fell by one percent after the start of trading
and ended up in the lower ranks in the MDax. A dealer
called the statements on the second quarter “shocking”. According to Markus
Mayer from Baader Bank could now reduce this significantly
Lead market expectations. However, other observers indicated
the better than feared numbers in the first quarter
there. The experts showed less of the cashed forecast

Mainly because of the corona-related difficulties in China
Sales, earnings before interest and taxes (EBIT) and profit
bottom line in the first quarter slightly compared to the previous year
declining. Accordingly, revenues decreased by 4 percent to 616
Million euros, bringing earnings before interest and taxes by 6
Percent fell to 72 million euros. The surplus fell by 7
Percent to 51 million euros.

Fuchs Petrolub had already serious sales and mid-March
Covid-19 warned of lower earnings. At the time, calculated
in the best case, the company is still involved in sales and EBIT
an increase of four percent. In the worst case, there were numbers
have been promised at the previous year’s level.

The company’s key customers include
Automotive industry in the face of weeks of production breaks
and closed car dealer also facing a very weak
second quarter warns.

Fuchs Petrolub sees himself financially appropriate in all of this
fitted. Sufficient precautions should be taken
Maintenance of liquidity, even after the distribution of the
Dividend has been hit./kro/men/mis

 ISIN  DE0005790430

AXC0210 2020-04-30 / 10: 29

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