Report
Fuchs Petrolub SE : Drivers intact for strong recovery in 2023, expect upgrade of initially conservative outlook. Reiterate Outperform
>Q4 recap – China still ‘Covid-infected’ but strong recovery in Europe - The reversal of China’s zero-Covid strategy and associated jumping infection rates also at Fuchs’ production sites still weighed on APAC performance with organic sales growth of 2% dragging on group organic sales growth of 16% in Q4 2022 where we estimate continuing sequential price acceleration to 21% (Q3 2022: 20%) but setback at volumes to -5% y-o-y (Q3 2022: -1% y-o-y). In contrast, the Europ...
Underlying
FUCHS PETROLUB SE
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Michael B. Schäfer
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