Q3 2024 Fuchs Se Earnings Call Transcript
Key Points
- Fuchs SE (FUPBY) reported a strong third quarter and year-to-date performance despite challenging market conditions.
- The company achieved a 7% increase in EBIT year-to-date, with an improved EBIT margin of 12.5%, indicating strong profitability.
- Fuchs SE (FUPBY) experienced volume growth across all regions, driven by successful sales efforts and new contract wins.
- The company generated nearly EUR 200 million in free cash flow in Q3, supported by strong operational results.
- Fuchs SE (FUPBY) completed its share buyback program, contributing to a double-digit growth in earnings per share.
- Sales were slightly down due to negative currency effects, despite being on par with the prior year in local currency terms.
- The automotive market remains challenging, impacting sales development, although Fuchs SE (FUPBY) managed to maintain flat volumes.
- Functional costs increased, driven by inflation-related wage adjustments and the acquisition of LUBCON, which added over 200 employees.
- The company's net financial debt increased due to acquisitions and share buybacks, although it plans to return to zero net liquidity by year-end.
- The market environment remains difficult, with economic challenges in key regions like Germany and South America affecting overall performance.
Good afternoon, ladies and gentlemen, this is Lutz Ackermann speaking on behalf of Fuchs Se, I wish you a very warm welcome to today's conference call on the Q3 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 afterwards, we will have a Q&A session. All the documents you can find on the home page below under the IR section. And since 7 AM this morning.
Have said this, I would like to hand over to Isabelle. Isabelle, please go ahead.
Thank you Lutz, and warm welcome from my side as well. Happy to introduce to you the results as of September year today as well -- year-to-date as well as our third quarter. I think what we can report looking at the highlights of our performance. We closed a very strong third quarter as well as a very strong year-to-date performance, especially given the challenging market environment we're in
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