Fuchs Petrolub SE (pref.) : Q4 EBIT 5% better, EBIT outlook leaves consensus at upper end and mid-point -4% below as price initiatives still lag raw materials inflation

>12.7% organic sales growth in Q4, all on price vs tough volume comparison - Organic sales growth of 12.7% pushed sales to € 742m (ODDO BHF/consensus € 720/687m) entirely fuelled by sticking price initiatives and flat volumes y-o-y, up 16.3% y-o-y on a reported basis and +3% q-o-q. Organic growth rates across regions are still distorted by timing of 2020 recovery trends ranging from 17% (NA) to 8.5% (APAC) and 10.6% in Europe in Q4. EBIT 7% better than ex...