Fuchs Petrolub AG posted 2011 earnings of 183 million (U.S. $240.7 million) on full-year sales revenue of 1.7 billion, up from 2010 earnings of 172 million on sales of $1.5 billion.
For 2011, earnings per share increased approximately seven percent to 2.56 per ordinary share and 2.58 per performance share. The Mannheim, Germany-based independent lubricant blender also announced a dividend increase of 1 per performance share.
The company said it generated 58 million in cash flow, despite having transferred 56 million in German pension liabilities to an external pension fund. In addition to this, more working capital had to be financed due to the significant growth in sales, Fuchs noted.
The company expects further organic growth in revenues and earnings in 2012 on the basis that the global economy will develop positively despite the well-known difficulties.
Fuchs will issue complete financial statements for 2011 on March 22.