FUCHS SE Achieves Record Highs in Financial Year 2023

FUCHS SE has reported significant growth in its financial outcomes for the year 2023, marking new record highs in several categories. The lubricant manufacturer saw a 4% increase in sales revenues, reaching EUR 3,541 million. Furthermore, the company's Earnings Before Interest and Taxes (EBIT) grew by 13% to EUR 413 million. An impressive aspect of this growth is the free cash flow before acquisitions, which ascended to EUR 465 million. Additionally, FUCHS announced its 22nd consecutive dividend increase, with a 4% rise to EUR 1.11 per preference share and EUR 1.10 per ordinary share.

Geographically, FUCHS experienced growth across all regions. In the Europe, Middle East, Africa (EMEA) region, sales revenues slightly increased, while the Asia-Pacific and North and South America regions saw a 5% rise in sales. However, the Asia-Pacific region faced challenges that led to a small decline in EBIT. The company attributed its success to the normalization of raw material markets and a significant focus on business development following years affected by raw material cost increases and availability issues.

Looking forward to 2024, FUCHS is optimistic despite geopolitical tensions and economic uncertainties. The company forecasts sales revenues of around EUR 3.6 billion and anticipates an EBIT of around EUR 430 million. Following a successful year, FUCHS remains committed to its FUCHS2025 strategy, focusing on sustainability, the shift in mobility, and digitization to drive future success.