German lube blender Fuchs Petrolub saw sales in the Americas extend its surge in the first three months of the year, reflecting the region’s firmer demand compared with other markets.
Sales of €181mn ($199mn) in the first quarter rose by 28pc from year-earlier levels, slowing from 39pc growth in 2022.
The rise in sales boosted the region’s share of Fuchs’ revenue to 19.3pc of the total. The share was up from 19.1pc in 2022 and 16.4pc in 2021.
The region’s profit margin before interest and taxes (EBIT) slipped to 10.5pc in the first quarter, down from year-earlier levels of 12.1pc.
Sales growth of 15pc in the Europe, Mideast Gulf and Africa regions lagged the pace of growth in the Americas. But its EBIT margin held steady at 8.7pc.
Sales growth of 6pc in Asia-Pacific stayed slower than the other regions as China began a gradual recovery from its zero-Covid policy in 2022.
Those factors squeezed the region’s EBIT margin to 11.1pc, from year-earlier levels of 12.2pc.
