The following is a summary of the Fuchs SE (FUPBY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Fuchs SE reported slightly lower sales in Q1 2024 due to lower pricing compared to Q1 2023 and the impact of currency effects.

• EBIT for Q1 2024 increased from the previous year, driven by all regions.

• Gross margin for Q1 expanded close to 3% points from the previous year, credited to good price management and operational excellence programs.

• Fuchs SE is on track to meet its midterm target of a 15% EBIT margin.

• Net liquidity remains healthy, even with the expenditure of EUR 33 million on a share buyback program in the quarter.

Business Progress:

• Fuchs SE acquired the LUBCON Group, strengthening its position in the Specialty Products segment.

• There was a positive development in profitability within the EMEA region during Q1 2024, with an 8% increase in EBIT.

• The company plans to reach an all-time high in revenue of EUR 3.6 billion and EBIT of EUR 430 million for 2024.

• Fuchs SE anticipates volume growth over the year, with Q2 expected to show higher order delivery.

• The company will implement the S/4HANA system and the group-wide program, FUCHS goes digital, with costs already included in their guidance.

• They aim to improve their gross margin, which will depend on pricing and raw material costs, and manage their working capital diligently.

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