The weakening of both China and the automotive market continue to impact Fuchs. Lower sales, associated with the expansion of the group, eroded the EBIT margin, down 19% yoy. The management alluded to July being better than June (which triggered the profit warning). This might spark some hope although the poor visibility calls for prudence.
02 Aug 2019
Q2: lack of visibility in H2 imposes a cautious stance
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Q2: lack of visibility in H2 imposes a cautious stance
The weakening of both China and the automotive market continue to impact Fuchs. Lower sales, associated with the expansion of the group, eroded the EBIT margin, down 19% yoy. The management alluded to July being better than June (which triggered the profit warning). This might spark some hope although the poor visibility calls for prudence.