Last week Mannheim-based Fuchs released its detailed 2008 financial statements, showing revenue growth of 2 percent over 2007, and the companys second best earnings ever, despite the global economic collapse in the fourth quarter. The company had released preliminary results in late February.
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Fuchs predicted that 2009 will certainly be a difficult year … Due to the worldwide recession, downward trends in sales revenues are to be expected in all regions in 2009. Further, it may be assumed that the previous years results will not be reached. However, the company said it still sees opportunities for further expanding its market position and making the most of sensible acquisition opportunities both strategically and financially.
Fuchs summarized its 2008 financial performance by region as follows; all figures are in millions of euros:
|
2008 |
2007 |
|
| Total sales revenue |
1,393.7 |
1,365.3 |
| Europe* |
870.0 |
859.4 |
| N. & S. America* |
212.8 |
217.8 |
| Asia/Pacific & Africa* |
310.9 |
288.1 |
*sales revenue by customers location
Fuchs revenues by product segment in 2008 follow; all figures are in millions of euros:
|
2008 |
2007 |
|
| Automotive lubricants |
497.2 |
472.9 |
| Industrial lubes, specialties |
796.1 |
790.4 |
| Other products |
100.4 |
102.0 |
As reported earlier, Fuchs after-tax profit for 2008 was 110.3 million, down from 2007s record profits of 120.3 million.
While it was possible to achieve appreciable increases in volume in the first half of the year [2008], the company said, the poor economic climate meant that sales in the fourth quarter were significantly below the previous years level. By the end of theyear, the previous years volume was only just achieved.