Fuchs (FPE3) Investor presentation summary

Company overview and market position

• Leading independent supplier of lubricants with €3.6 bn sales in 2025 and operations in over 60 countries.

• Offers a full range of over 10,000 lubricants and specialties, serving diverse industries globally.

• Maintains a capital-light, asset-efficient business model with high cash generation and strong shareholder returns.

• Family ownership ensures strategic continuity; preference shares are listed on the MDAX.

• Top 20 customers account for ~25% of sales, reflecting a well-balanced customer structure.

Strategic growth and focus areas

• Six focus areas drive growth: Customer Brands, Automotive Aftermarket, New Mobility, Rotary Motion, Performance Greases, and Special Application Solutions.

• Targeting €4–4.5 bn sales and €550–600 mn EBIT by 2031, with a margin goal of 13–15%.

• Growth strategy combines organic expansion and targeted M&A, with recent acquisitions strengthening presence in key markets.

• Focus on megatrends: e-mobility, sustainability, digitalization, and regionalization.

• Emphasis on customer-centricity, innovation, and operational excellence to differentiate in a fragmented market.

Financial performance and resilience

• Achieved 24 years of consecutive dividend increases, with a 2025 dividend of €1.23 per preference share.

• H1 2026 sales rose 11% to €2,003 mn; EBIT up 24% to €260 mn, setting a new half-year record.

• Free cash flow before acquisitions declined due to inflation-driven NOWC build-up.

• Maintains high capital efficiency (1.9x capital turns) and strong ROCE (>21%).

• Resilient against inflation and geopolitical disruptions, with robust gross margins and cash conversion rates.