Fuchs Petrolub SE (FUPEF) Q2 2019 Results - Earnings Call Transcript

Fuchs Petrolub SE (OTCPK:FUPEF) Q2 2019 Earnings Conference Call August 1, 2019 6:00 AM ET

Company Participants

Thomas Altmann - IR
Dagmar Steinert - CFO

Conference Call Participants

Markus Mayer - Baader-Helvea
Isha Sharma - MainFirst
Knud Hinkel - Pareto Securities
Oliver Schwarz - Warburg Research
Ben Gorman - UBS

Operator

Dear ladies and gentlemen, welcome to the H1 2019 Results Analyst Conference Call of FUCHS PETROLUB SE. At our customer's request, this conference will be recorded. (Operator Instructions)

May I now hand you over to Thomas Altmann, who will lead you through this conference. Please go ahead, sir.

Thomas Altmann

Thank you. Good afternoon, ladies and gentlemen. On behalf of FUCHS PETROLUB, I would like to welcome you to our conference call on the H1 2019 results. On the call with me today is our CFO, Dagmar Steinert. She will take you through the presentation and then happy to take your questions. The presentation is also available on our website at fuchs.com under the IR section. There, you can also find the fact sheet showing the quarterly figures and also the Q1 to Q4 2018 adjusted figures accounting for the new segment structure.

With this, I would like to hand things over to Dagmar.

Dagmar Steinert

Thanks very much, Thomas. Ladies and gentlemen, also a warm welcome to everybody from my side.

On the 1st of July, we released preliminary figures for the first half and lowered our full year outlook. Today, we will provide you with further information. First, I would like to explain the main drivers for earnings decline and the adjustment of our outlook. As you will remember, we conditioned our outlook for 2019 on several assumptions. Many of them did not really materialize. We are operating in an environment with high uncertainty and very low visibility. The growth of the global economy has slowed down, and