fuchs petrolub / q2/2015 conference call · 2015-04-08 · h1/2015: ebit increased...

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FUCHS PETROLUB / Q2/2015 Conference Call Dr. Alexander Selent, Vice Chairman & CFO Dagmar Steinert, Head of Investor Relations Mannheim, 4 August 2015

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Page 1: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

FUCHS PETROLUB / Q2/2015Conference Call

Dr. Alexander Selent, Vice Chairman & CFODagmar Steinert, Head of Investor Relations

Mannheim, 4 August 2015

Page 2: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

For the first time FUCHS generates group sales of €1 billion in the first six months of 2015

� Sales revenues up 10% to €1 billion (currency adjusted: +2%)

� Earnings (EBIT) increase by 13% to €172 million

� Positive outlook for the financial year reaffirmed

� Second larger acquisition – expansion to Scandinavia and Eastern Europe

2 FUCHS PETROLUB SE

Page 3: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

3

Q2/2105: sales revenues increase by 11.4%

� Organic growth 2.0% or €9.1 mn

� External growth 1.5% or €7.0 mn

� Currency effects 7.9% or €36.4 mn

462.5

9.17.0 36.4

515.0

200

250

300

350

400

450

500

salesQ2/2014

salesQ2/2015

organicgrowth

externalgrowth

currencyeffects

€ mn +€52.5 mn (11.4%)

250

0

FUCHS PETROLUB SE

Page 4: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

4

3.2 3.8 0.07.01.5

20.6

14.2

36.4

11.7

4.6

-4.3

9.1

-5

5

15

25

35

45

55€ mn

Asia-Pacific/ Africa

North and South america

Total growth +5.9% +22.9% +12.7% +11.4%

Group*

Organic growth

External growthCurrency effects

Organic growth +4.2% +3.6% -5.5% +2.0%

Regional sales growth2nd quarter 2015

29.0 9.9 52.5

Currency effects +0.5% +16.3% +18.2% +7.9%

Q2/2015: good organic growth in Europe and Asia

* Consolidation effect (€2.8 mn)

External growth +1.2% +3.0% 0.0% +1.5%

FUCHS PETROLUB SE

Page 5: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

919.3

6.1 14.4

67.8

1,007.6

500

550

600

650

700

750

800

850

900

950

1000

1050

salesH1/2014

salesH1/2015

organicgrowth

externalgrowth

currencyeffects

5

H1/2015: sales revenues increase by 9.6%

� Organic growth 0.7% or €6.1 mn

� External growth 1.6% or €14.4 mn

� Currency effects 7.3% or €67.8 mn

€ mn +€88.3 mn (9.6%)

650

600

FUCHS PETROLUB SE

0

Page 6: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

6

6.4 8.0 0.0 14.40.2

39.728.1

67.8

3.6

8.4

-5.3

6.1

-10

0

10

20

30

40

50

60

70

80

90

€ mn

Asia-Pacific/ Africa

North and South America

Total growth +1.8% +22.8% +14.9% +9.6%

Group*

Organic growth

External growthCurrency effects

Organic growth +0.6% +3.4% -3.4% +0.7%

Regional sales growth1st half 2015

56.1 22.8 88.3

Currency effects +0.0% +16.1% +18.3% +7.3%

* Consolidation effect (€0.8 mn)

External growth +1.2% +3.3% 0.0% +1.6%

H1/2015: good organic growth in Asia

FUCHS PETROLUB SE

Page 7: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

H1/2015: EBIT increased disproportionately by 13.4%

Euro mn H1/2015 H1/2014 variance

Sales revenues 1,007.6 919.3 88.3 9.6%

Gross profit 387.9 343.0 44.9 13.1%

Gross profit margin 38.5% 37.3%

Sales, admin. R&D and other net expenses 223.4 198.0 25.4 12.8%

Expenses as a percentage of sales 22.2% 21.5%

EBIT before income from at equity 164.5 145.0 19.5 13.4%

EBIT margin before income from at equity 16.3% 15.8%

Income from at equity 7.1 6.2 0.9 14.5%

EBIT 171.6 151.2 20.4 13.5%

Earnings after tax 118.8 105.4 13.4 12.7%

Net profit margin 11.9% 11.5%

Earnings per share in €Ordinary sharesPreference shares

0.850.86

0.750.76

0.10 13.3%0.10 13.2%

7 FUCHS PETROLUB SE

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8

H1/2015: segment earnings increased in all regions

EBIT

1st half 2015

82.7(80.2)

59.1(46.0)

32.9(27.8)

-3.1(-2.8)

171.6(151.2)

0

50

100

150

Europe Asia Pacific,Africa

North and SouthAmerica

Holdingcosts/cons.

Group

+3.1%

+13.4%+18.3%

+28.5%

€ mn

EBIT margin before income from at equity (previous year)

14.4% 17.4% 18.7% 16.3%(14.2) (16.5) (18.1) (15.8)

FUCHS PETROLUB SE

Page 9: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

9

Free cash flow increased by 67.5%

€ mn H1/2015 H1/2014

Gross cash flow

Changes in net operating working capital

134.5

-28.7

116.5

-45.0

Other changes -14.6 -2.1

Operating cash flow 91.2 69.4

Capex -16.0 -25.1

Other changes 0.0 0.6

Free cash flow 75.2 44.9

FUCHS PETROLUB SE

Page 10: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

Investments according to plan

€ mn

10

Key investments

Primarily for the enlargement of the test field in Mannheim and construction of the grease plant in the US.

16.015.1

H1/2015 H1/2014

FUCHS PETROLUB SE

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Acquisitions - Pentosin

� Acquisition of Deutsche Pentosin-Werke GmbH on 1 July 2015

� Founded in 1927 and based in Wedel near Hamburg

� 2 plants in Germany: Wedel and Dormagen

� Subsidiary in Sao Paulo, Brazil

� Sales revenues in 2014: approximately €135 million

� 190 employees

� Leading manufacturer of quality products for the international automotive industry

13 FUCHS PETROLUB SE

Page 12: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

Acquisitions – Statoil Fuel & Retail Lubricants AB

� Acquisition of Statoil Fuel & Retail Lubricants AB, Sweden, from Couche-Tard

� Signing of contract on 1 August 2015; approval of the antitrust authorities still pending

� Based in Stockholm

� Plant in Nynäshamn, Sweden

� Operating in Scandinavia, Poland, Russia and Baltic states

� Sales revenues in the financial year 2014/15: approximately €140 million

� 470 employees

14 FUCHS PETROLUB SE

Page 13: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

Number of employees increased

13

The number of employees has grown by 46 people since the beginning of the year.

4,1584,112

3,992

30 June 2015 30 June 201431 Dec 2014

FUCHS PETROLUB SE

Page 14: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

Outlook 2015 for the FUCHS Group

14

� FUCHS intends to further increase sales volumes and sales revenues in 2015

� We reaffirm our expectations of achieving a higher single-digit percentage increase in EBIT

� We plan investments to exceed the previous year’s value and reach up to the investments of 2012 and 2013

� We stand by our forecast for 2015 of recording free cash flow in excess of €150 million before capital expenditure in connection with acquisitions

FUCHS PETROLUB SE

Page 15: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

Thank you for your attention

Disclaimer

FUCHS PETROLUB SE15

This presentation contains statements about future development that arebased on assumptions and estimates by the management of FUCHSPETROLUB SE. Even if the management is of the opinion that theseassumptions and estimates are accurate, future actual developments andfuture actual results may differ significantly from these assumptions andestimates due to a variety of factors. These factors can include changes inthe overall economic climate, procurement prices, changes to exchangerates and interest rates, and changes in the lubricants industry. FUCHSPETROLUB SE provides no guarantee that future developments and theresults actually achieved in the future will match the assumptions andestimates set out in this presentation and assumes no liability for such.

Page 16: FUCHS PETROLUB / Q2/2015 Conference Call · 2015-04-08 · H1/2015: EBIT increased disproportionately by 13.4% Euro mn H1/2015 H1/2014 variance Sales revenues 1,007.6 919.3 88.3 9.6%

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FUCHS PETROLUB SE

Investor Relations

Friesenheimer Str. 17

68169 Mannheim

Telefon 0621 3802 1105, Fax 0621 3802 7274

[email protected] , www.fuchs-oil.de