Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Fuchs Falls Most in 3 Years on Abandoned 2014 Profit Forecast

Fuchs Petrolub SE declined the most in three years after the world’s biggest independent maker of lubricants abandoned its full-year earnings forecast, citing the strong euro’s effect on sales collected in other currencies.

Earnings before interest and taxes this year will stay at last year’s level, the Mannheim, Germany-based company said today in a statement. Fuchs had previously expected a gain in the “low single-figure” percentage range. The preferred shares fell as much as 11 percent, the steepest intraday drop in Frankfurt trading since August 2011.

European lubricant makers are facing heightened competition as emerging-market competitors increase exports, Fuchs has said. The German company’s earnings have also been restrained by currency exchange rates, which eroded most sales gains in the first half, it said today.

“We have become more cautious, due to the severe loss in value of a number of currencies,” Chairman Stefan Fuchs said in the statement.

The preferred stock was down 9.8 percent at 27.16 euros as of 10:02 a.m. local time. The shares have declined about 24 percent this year, giving the company a market value of 3.8 billion euros ($5.1 billion).

Ebit in the second quarter was 75.6 million euros, missing an average analyst estimate of 79.6 million euros. Sales were 462.5 million euros, also missing estimates in a Bloomberg survey.

The lubricant maker is majority owned by the Fuchs founding family.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.