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Q3/2025
Quarterly Statement as at September 30, 2025
1
Quarterly results
1.1
FUCHS at a glance
3
1.2 Business development in the
first nine months of 2025
5
-
Development of sales revenues in the Group
5
-
Development of sales revenues by regions / segments
6
-
Group results of operations
7
-
Results of operations of the regions / segments
8
1.3 Employees
9
1.4 Outlook
9
1.5 Balance sheet
10
1.6 Statement of cash flows
12
1.7 Share price development of FUCHS shares
13
Further information
Financial calendar
14
Contact and imprint
14
2
2
1 Quarterly results
2 Further information
1.1
FUCHS at a glance
FUCHS Group
Amounts in € million
Q1 – 3 2025
Q1 – 3 2024
Change
in %
Sales revenues 1
2,700
2,666
1
Europe, Middle East, Africa (EMEA)
1,556
1,544
1
Asia-Pacific
763
739
3
North and South America
521
511
2
Consolidation
– 140
– 128
–
Earnings before interest and tax (EBIT)
326
334
– 2
Earnings after tax
228
235
– 3
Investments
47
38
24
Free cash flow before acquisitions
181
194
– 7
Earnings per share (in €)
Ordinary share
1.73
1.78
– 3
Preference share
1.74
1.79
– 3
Employees as at September 30
6,881
6,692
3
1 By company location.
-
Sales revenues increase by € 34 million or 1 % to
€ 2,700 million (2,666) in the first nine months thanks
to organic and external growth; adjusted for currency
effects due to the strong euro, sales revenues would
have been € 51 million higher
-
Despite the difficult market environment and negative
currency effects, EBIT reaches € 326 million, € 8 million or
2 % below the strong figure for the previous year (334);
growth in sales revenues cannot offset higher costs
-
Earnings in the third quarter significantly above those
in the second quarter, which were depressed by tariff
policies, and slightly above the peak in the prior year‘s
quarter
-
Economic environment remains challenging. We confirm
our outlook as adjusted in July:
– Sales revenues: at previous year’s level (€ 3,525 million)
– EBIT: at previous year’s level (€ 434 million)
– FVA: at previous year’s level (€ 245 million)
– Free cash flow before acquisitions: around € 260 million
3
1 Quarterly results
2 Further information
1.1 FUCHS at a glance
months, not only through acquisitions but also organically.
Our solid performance in the third quarter enabled us to
narrow the difference in EBIT with respect to the previous
year. In the first nine months of the current year, FUCHS
generated EBIT of € 326 million, which corresponds to a
decline of € 8 million or 2 % compared to the strong figure
for the previous year.
Future economic developments in general, and conse-
quently our future business performance, remain subject
to a high degree of uncertainty and are difficult to predict.
Despite all the unfavourabilities, our results to date make
us confident of achieving the full year 2025 EBIT at the
same high level as last year, confirming the outlook we
made in July.”
Stefan Fuchs, Chairman of the Executive Board
FUCHS SE
“In the third quarter, we slightly exceeded our peak
EBIT figure for the same quarter of the previous year.
This represents a significant improvement on the second
quarter. In addition to targeted cost-avoidance mea-
sures, this positive development was primarily due to a
substantial improvement in earnings in North and South
America compared with the previous quarter. The weak
economic environment continues to impact the region, but
the effects of an unfavorable product portfolio mix have
weakened over the past three months. The Asia-Pacific
region is still performing extremely well with a further
increase in earnings, and the EMEA region remains at the
high level of the previous year.
Despite a persistently challenging economic environment
and negative currency effects, we succeeded in further
expanding our business and slightly increasing our sales
revenues year over year to € 2,700 million in the first nine
Stefan Fuchs, Chairman of the Executive Board
4
1 Quarterly results
2 Further information
1.1 FUCHS at a glance
1.2 Business development in the first nine months of 2025
Development of sales revenues in the Group
Sales revenues in the Group rise by 1 % or € 34 million
to € 2,700 million (2,666) due to external growth and
business expansion in a challenging environment
-
Organic growth of € 42 million achieved; Asia-Pacific
and North and South America regions overcompensate
declines in EMEA
-
External growth from all regions, particularly EMEA,
totals € 43 million
-
Strong euro results in negative currency effects of
€ 51 million
Q1 – 3 2024
Organic
External
Currency
Q1 – 3 2025
Development of sales revenues in the Group
(in € million)
3,000
2,500
2,000
1,500
1,000
500
2,700
(1 %)
42
(1 %)
– 51
(– 2 %)
43
(2 %)
2,666
5
1 Quarterly results
2 Further information
1.2 Business development in the first nine months of 2025
Development of sales revenues by regions / segments
EMEA region with sales revenues of € 1,556 million, a
slight increase of 1 % or € 12 million over the previous year;
external growth offsets organic declines
-
Germany remains under pressure in a tough economic
environment with a weak automotive manufacturing
market
-
Many other countries unable to match previous year’s
sales revenues; South Africa continues to perform well
-
External growth of € 34 million resulting from the acqui-
sitions of LUBCON and STRUB in the second half of
2024 and the takeover of BOSS, a German manufacturer
of specialty lubricants, at the beginning of the current
financial year
-
Slight currency effects cancel each other out and are
not significant
Asia-Pacific region overcompensates significant negative
currency effects with robust organic growth, increasing
sales revenues by 3 % or € 24 million to € 763 million
-
China continues on growth course with good third
quarter; positive business development year over year,
mainly thanks to strong growth in the specialty business
-
India and Australia also perform favorably
-
Weakening of the Chinese renminbi and Australian dollar
continues; currency effects negatively impact the region’s
sales revenues by € 31 million
Despite significant negative currency effects, the North
and South America region increases sales revenues by
2 % from € 511 million to € 521 million
-
Organic growth from business expansion in a difficult
environment; change in customer and product mix in
North America
-
External growth of € 7 million, partly due to the January
acquisition of a long-standing distribution partner in
Peru and the April acquisition of IRMCO, a specialist in
lubricant solutions for metal forming
-
Significant negative currency effects from South America,
but also from North America as a result of the weakening
of the U.S. dollar, amount to € 21 million
Europe, Middle East, Africa (EMEA)
(in € million)
Asia-Pacific
(in € million)
North and South America
(in € million)
1,750
1,500
1,250
1,000
750
500
Q1 – 3 2024
Organic
External
Currency
Q1 – 3 2025
1,556
(1 %)
– 23
(– 1 %)
1
(0 %)
34
(2 %)
1,000
800
600
400
200
0
Q1 – 3 2024
Organic
External
Currency
Q1 – 3 2025
763
(3 %)
53
(7 %)
– 31
(– 4 %)
2
(0 %)
600
500
400
300
200
100
Q1 – 3 2024
Organic
External
Currency
Q1 – 3 2025
24
(5 %)
– 21
(– 4 %)
7
(1 %)
1,544
739
521
(2 %)
511
6
1 Quarterly results
2 Further information
1.2 Business development in the first nine months of 2025
-
Sales revenues up 1 % or € 34 million year over year
thanks to external and organic growth
-
Gross profit improves at a slightly higher rate than sales
revenues, up € 19 million or 2 %; gross margin after
nine months at 34.9 % and therefore above the previ-
ous year’s figure of 34.6 %; sequential improvement in
margin from 34.3 % in the first quarter to 35.1 % in the
second quarter and 35.2 % in the third quarter
-
Other functional costs increase at a faster rate than
sales revenues, rising by 5 % or € 29 million, primarily
due to acquisitions and inflation-driven adjustments to
wage costs; temporary ramp-up costs for large customer
business also had a negative impact in the first half of
the year; cost-avoidance measures begin to show results
in the third quarter
-
At-equity income improves from € 5 million to € 7 million
-
Gross margin growth cannot make up for increased
costs; EBIT down € 8 million or 2 % year over year to
€ 326 million (334); negative currency effects due to the
strong euro in both Asia-Pacific and North and South
America; EBIT margin at 12.1 % (12.5)
-
Financial result at € – 5 million (– 5), on a par with the
previous year
-
Earnings after tax amount to € 228 million, down € 7 mil-
lion or 3 % compared to the same period in the previous
year (235)
-
Earnings per ordinary share and per preference share
decline by € 0.05 to € 1.73 (1.78) and € 1.74 (1.79),
respectively
Group results of operations
Income Statement
Change
in € million
Q1 – 3 2025
Q1 – 3 2024
absolute
relative in %
Sales revenues
2,700
2,666
34
1
Cost of sales
– 1,759
– 1,744
– 15
1
Gross profit
941
922
19
2
Selling and distribution expenses
– 398
– 380
– 18
5
Administrative expenses
– 162
– 149
– 13
9
Research and development expenses
– 64
– 58
– 6
10
Other operating income 1
24
16
8
50
Other operating expenses 1
– 22
– 22
0
0
EBIT before income from companies
consolidated at equity
319
329
– 10
– 3
Income from companies consolidated at equity
7
5
2
40
Earnings before interest and tax (EBIT)
326
334
– 8
– 2
Financial result
– 5
– 5
0
0
Earnings before tax (EBT)
321
329
– 8
– 2
Income taxes
– 93
– 94
1
– 1
Earnings after tax
228
235
– 7
– 3
Thereof
Non-controlling interests
0
0
0
0
Profit attributable to shareholders of FUCHS SE
228
235
– 7
– 3
Earnings per share in € 2
Ordinary share
1.73
1.78
– 0.05
– 3
Preference share
1.74
1.79
– 0.05
– 3
1 Presentation for Q1 – 3 2024 adjusted for comparability; offset in the previous year.
2 Basic and diluted in both cases.
7
1 Quarterly results
2 Further information
1.2 Business development in the first nine months of 2025
Results of operations of the regions / segments
in € million
EMEA
Asia-Pacific
North and
South America
Holding /
consolidation
FUCHS Group
Q1 – 3 2025
Sales revenues by company location
1,556
763
521
– 140
2,700
EBIT before income from
companies consolidated at equity
163
102
57
– 3
319
in % of sales
10.5 %
13.4 %
10.9 %
–
11.8 %
Income from companies
consolidated at equity
7
–
–
–
7
Segment earnings (EBIT)
170
102
57
– 3
326
Investments
17
8
8
14
47
Number of employees
as at September 30 1
4,327
1,160
1,223
171
6,881
Q1 – 3 2024
Sales revenues by company location
1,544
739
511
– 128
2,666
EBIT before income from
companies consolidated at equity
163
87
71
8
329
in % of sales
10.6 %
11.8 %
13.9 %
–
12.3 %
Income from companies
consolidated at equity
5
–
–
–
5
Segment earnings (EBIT)
168
87
71
8
334
Investments
20
7
8
3
38
Number of employees
as at September 30 1
4,271
1,094
1,164
163
6,692
1 Including trainees.
EMEA (Europe, Middle East, Africa) with EBIT of
€ 170 million (168), € 2 million or 1 % above the previous
year
-
EBIT before companies consolidated at equity at the
previous year’s level
-
At-equity income of € 7 million (5) above previous year
-
Currency effects not significant
Asia-Pacific has strong first nine months; EBIT improves
by € 15 million or 17 % to € 102 million (87)
-
Earnings improvement primarily driven by growth in
China
-
Australia, India, and Vietnam also show encouraging
development
-
Negative currency effects from almost all countries
EBIT in North and South America declines by around
20 % or € 14 million to € 57 million (71)
-
EBIT in North America impacted by weaker-than-
expected sales performance, temporary ramp-up costs
for large customer business and mix effects; impact
reduced in the third quarter and cost-avoidance measures
taking effect; South America still below previous year
in an economic environment that remains challenging
-
Negative currency effects from both North and South
America
8
1 Quarterly results
2 Further information
1.2 Business development in the first nine months of 2025
1.3 Employees
1.4 Outlook
Global workforce grows by 100 employees to 6,881 com-
pared to December 31, 2024. The increase of 189 employ-
ees compared to September 30 of the previous year is
mainly due to acquisitions made over the last 12 months,
which added more than 62 employees.
In its latest outlook published in October, the International
Monetary Fund (IMF) slightly raised its summer forecast by
0.2 percentage points, and now expects global economic
growth of 3.2 % (2.8) for the current year. By contrast,
Germany is still expected to experience widespread stag-
nation or, at best, slight growth of 0.2 %.
FUCHS therefore continues to operate in a challenging
environment.
Restrained demand from key customer groups due to tar-
iff discussions originating in the U.S., subdued industrial
production in Europe, and ongoing geopolitical tensions
are increasing uncertainty. We currently expect the weak
overall economic situation to continue in the remaining
months of the year.
Based on business performance in the first nine months,
we confirm our outlook as adjusted in July:
-
Sales revenues: at previous year’s level (€ 3,525 million)
-
EBIT: at previous year’s level (€ 434 million)
-
FVA: at previous year’s level (€ 245 million)
-
Free cash flow before acquisitions: around € 260 million
Our global positioning and financial base remain robust,
and we continue to focus on profitable growth.
FUCHS SE
Mannheim, October 31, 2025
9
1 Quarterly results
2 Further information
1.3 Employees
1.4 Outlook
1.5 Balance sheet
Change
in € million
Sept 30, 2025
Dec 31, 2024
absolute
relative in %
Assets
Goodwill
311
309
2
1
Other intangible assets
92
87
5
6
Property, plant and equipment
764
813
– 49
– 6
Shares in companies consolidated at equity
64
62
2
3
Other financial assets
7
7
0
0
Deferred tax assets
37
39
– 2
– 5
Other receivables and other assets
7
8
– 1
– 13
Non-current assets
1,282
1,325
– 43
– 3
Inventories
580
567
13
2
Trade receivables
586
519
67
13
Tax receivables
6
6
0
0
Other receivables and other assets
47
40
7
18
Cash and cash equivalents
142
153
– 11
– 7
Assets held for sale
0
0
0
0
Current assets
1,361
1,285
76
6
Total assets
2,643
2,610
33
1
10
1 Quarterly results
2 Further information
1.5 Balance sheet
Change
in € million
Sept 30, 2025
Dec 31, 2024
absolute
relative in %
Equity and liabilities
Subscribed capital
131
131
0
0
Group reserves
1,534
1,464
70
5
Group profits
228
302
– 74
– 25
Equity of shareholders of FUCHS SE
1,893
1,897
– 4
0
Non-controlling interests
3
3
0
0
Total equity
1,896
1,900
– 4
0
Pension provisions
11
11
0
0
Other provisions
8
8
0
0
Deferred tax liabilities
48
53
– 5
– 9
Financial liabilities
49
52
– 3
– 6
Other liabilities
10
6
4
67
Non-current liabilities
126
130
– 4
– 3
Trade payables
315
281
34
12
Other provisions
26
22
4
18
Tax liabilities
42
41
1
2
Financial liabilities
63
60
3
5
Other liabilities
175
176
– 1
– 1
Current liabilities
621
580
41
7
Total equity and liabilities
2,643
2,610
33
1
11
1 Quarterly results
2 Further information
1.5 Balance sheet
1.6 Statement of cash flows
in € million
Q1 – 3 2025
Q1 – 3 2024
Earnings after tax
228
235
Depreciation and amortization of non-current assets
75
72
Change in non-current provisions and in other non-current assets (covering funds)
1
2
Change in deferred taxes
– 3
– 1
Non-cash income from shares in companies consolidated at equity
– 7
– 5
Dividends received from companies consolidated at equity
8
4
Gross cash flow
302
307
Gross cash flow
302
307
Change in inventories
– 35
– 40
Change in trade receivables
– 92
– 59
Change in trade payables and remaining other liabilities 1
41
10
Change in other assets and other liabilities (excluding financial liabilities)
16
22
Net gain/loss on disposal of non-current assets
0
0
Cash flow from operating activities
232
240
Cash paid for intangible assets and property, plant and equipment
– 51
– 46
Cash paid for shares in companies consolidated at equity
0
0
Cash received from the disposal of non-current assets
0
0
Cash paid for acquisitions less cash aquired
– 23
– 100
Cash flow from investing activities
– 74
– 146
Free cash flow before acquisitions 2
181
194
Free cash flow
158
94
Dividends paid for previous year
– 153
– 146
Purchase of own shares
0
– 79
Changes in financial liabilities
– 8
104
Purchase of non-controlling interests
0
– 8
Cash flow from financing activities
– 161
– 129
Cash and cash equivalents as at Dec 31 of the previous year
153
175
Cash flow from operating activities
232
240
Cash flow from investing activities
– 74
– 146
Cash flow from financing activities
– 161
– 129
Effect of currency translations
– 8
0
Cash and cash equivalents at the end of the period
142
140
1 Remaining other liabilities
relate to advance payments
received and liabilities from
customer discounts.
2 Free cash flow before cash
paid for acquisitions and
before cash acquired
through acquisitions.
12
1 Quarterly results
2 Further information
1.6 Statement of cash flows
1.7 Share price development of FUCHS shares
Performance* of ordinary and preference shares in comparison with DAX and MDAX
(January 1 – September 30, 2025)
Rel %
120
110
100
90
January 2025
February 2025
March 2025
April 2025
May 2025
June 2025
July 2025
August 2025
September 2025
Preference share
Ordinary share
DAX
MDAX
* Price trend including dividends. Source: Bloomberg
13
1 Quarterly results
2 Further information
1.7 Share price development of FUCHS shares
Financial calendar
Contact and imprint
Dates 2026
March 20, 2026
Annual Report 2025
April 29, 2026
Quarterly Statement as at March 31, 2026
May 6, 2026
Annual General Meeting
July 31, 2026
Half-year Financial Report as at June 30, 2026
October 30, 2026
Quarterly Statement as at September 30, 2026
The financial calendar is updated regularly. You can find the latest dates on the webpage at
www.fuchs.com/financial-calendar
Note regarding the Quarterly Statement
In case of deviations between this English translation and
the original German version of this Quarterly Statement,
the original German version takes precedence.
Note on rounding
Due to rounding, numbers presented in this Quarterly
Statement may not add up precisely to totals provided, and
percentages stated may not precisely reflect the absolute
figures to which they refer.
Disclaimer
This Quarterly Statement contains statements about future
developments that are based on assumptions and estimates
by the management of FUCHS SE. Statements about future
developments are all statements that do not refer to his-
torical facts and events and contain such forward-looking
formulations as “believes,” “estimates,” “assumes,”
“expects,” “anticipates,” “forecasts,” “intends,” “could,”
“will,” “should,” or similar formulations. Even if the man-
agement is of the opinion that these assumptions and
estimates are accurate, future actual developments and
future actual results may differ significantly from these
assumptions and estimates due to a variety of factors.
These factors can, for example, include changes in the
overall economic climate, changes in procurement prices,
changes to ex change rates and interest rates, and changes
within the lubricants industry. FUCHS SE provides no guar-
antee that future developments and the results actually
achieved in the future will match the assumptions and
estimates set out in this Quarterly Statement and assumes
no liability for such. We do not assume any obligation
to update the future-oriented statements made in this
Quarterly Statement.
If you have any questions regarding the company or should
you wish to be added to our mailing list for corporate
publications, please contact our Investor Relations team:
E-Mail: ir@fuchs.com
Andreas Schaller
Head of Investor Relations
Telephone +49 621 3802-1145
andreas.schaller@fuchs.com
Niclas Neff
Manager Investor Relations
Telephone +49 621 3802-1234
niclas.neff@fuchs.com
Theresa Landau
Specialist Investor Relations
Telephone +49 621 3802-1110
theresa.landau@fuchs.com
Publisher
FUCHS SE
Einsteinstraße 11
68169 Mannheim
Germany
www.fuchs.com/group
14
Financial calendar, Contact and imprint
1 Quarterly results
2 Further information
