Fuchs (FPE3) Q4 2025 earnings summary

Executive summary

• Achieved record sales of EUR 3.6 billion in 2025, up 1% year-over-year, despite significant currency headwinds and challenging markets.

• EBIT reached a new high at EUR 435 million, slightly above the previous year, reflecting strong cost discipline and operational resilience.

• Free cash flow before acquisitions rose to EUR 316 million, up 3% year-over-year, with a strong cash conversion rate.

• Proposed 24th consecutive dividend increase, with EUR 1.23 per preference share and EUR 1.22 per ordinary share.

• Continued focus on profitable growth, cash generation, and resilience amid geopolitical and macroeconomic uncertainties.

Financial highlights

• Sales reached EUR 3.6 billion, a 1% increase year-over-year, setting a new all-time high.

• EBIT was EUR 435 million, up EUR 1 million from last year, with an EBIT margin of 12.2%.

• Gross margin improved to 34.9%, up 40 basis points year-over-year.

• Earnings per share increased by 2% year-over-year to EUR 2.34 (preference share) and EUR 2.33 (ordinary share).

• Free cash flow before acquisitions was EUR 316 million, a EUR 10 million improvement.

Outlook and guidance

• 2026 sales expected to rise to around EUR 3.7 billion, including the Opet Fuchs acquisition and organic growth, offset by negative FX effects.

• EBIT forecasted at approximately EUR 450 million, with integration costs for Opet Fuchs included and strict cost management.

• Free cash flow before acquisitions projected at about EUR 270 million due to increased NOWC.

• FVA expected at around EUR 250 million, reflecting higher earnings and increased capital employed.

• Guidance assumes no major global disruptions; FX headwinds, raw material volatility, and geopolitical tensions remain key risks.