Half Year 2024 Fuchs Se Earnings Call Transcript
Key Points
- Fuchs SE (FUPBY) reported a 9% year-over-year increase in EBIT, despite lower sales driven by price adjustments due to lower raw material prices.
- The company achieved a significant improvement in EBIT margin, reaching 12.4% compared to 11% the previous year.
- Earnings per share increased significantly year-over-year, and the company is close to completing its share buyback program.
- The LUBCON acquisition was successfully closed, adding a valuable addition to the portfolio and expected to contribute positively to future results.
- All regions contributed positively to EBIT growth, with notable performances from EMEA, China, Australia, India, the US, and Mexico.
- Sales were slightly down year-over-year, primarily due to price adjustments and adverse currency effects.
- Free cash flow was lower than the previous year, attributed to net working capital buildup.
- The Americas region showed a high negative currency impact, particularly from the Argentinian peso.
- Freight and energy costs were lower, but the company faced high labor cost growth rates over the last two years.
- CapEx was lower year-over-year due to timing, although the company expects to meet its investment targets by year-end.
Good afternoon, ladies and gentlemen. On behalf of Fuchs SE, I wish you a very warm welcome to today's conference call on the half year figures. With me on the call today is Isabelle Adelt, our CFO. And as always, Isabelle will run you through the presentation in a second, and then we will have the Q&A session afterwards. All the documents you can find on the IR section of our home page since 7 AM., this morning.
And having said this, I would like to hand over to Isabelle. Isabelle, please go ahead.
Thank you, Lutz, and a warm welcome from my side as well. We are delighted to guide you through what we believe are good numbers for the first half year of the Fuchs Group. So looking at the highlights of what we presented right, we have some very good KPIs which are perfectly in line with what we predicted in the beginning of the year, despite some adverse developments you can read in the newspapers or see on TV, and
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
