FUCHS SE Reports Stable First Half of 2024 Despite Revenue Decline

FUCHS SE has published its financial results for the first half of 2024. Despite a 3% drop in sales revenues to EUR 1.764 million, the company saw a 9% increase in EBIT to EUR 218 million. Earnings per share also rose by 13% to 14%, depending on the share type. The acquisition of LUBCON Group was finalized, and the company reaffirmed its full-year outlook for 2024.

Regionally, the EMEA's sales revenues decreased by 4%, but EBIT rose by 13%. The Asia-Pacific region experienced a 1% decline in sales, largely due to negative currency effects, yet managed to grow EBIT by 6%. North and South America saw a 3% drop in sales, mainly blamed on high negative exchange rate effects, but notable growth in EBIT by over 20% was achieved.

FUCHS remains confident for the year's second half, maintaining its targets of EUR 3.6 billion in sales and EUR 430 million in EBIT.