FUPBY - Fuchs SE (FUPBY) Q4 2023 Earnings Call Transcript
2024-03-12 16:07:11 ET
Fuchs SE (FUPBY)
Q4 2023 Earnings Conference Call
March 12, 2024, 7:00 AM ET
Company Participants
Lutz Ackermann - Head, Investor Relations
Stefan Fuchs - Chief Executive Officer
Isabelle Adelt - Chief Financial Officer
Conference Call Participants
Konstantin Wiechert - Baader Helvea
Riya Kotecha - Bank of America
Michael Schaefer - ODDO BHF
Martin Rodiger - Kepler Cheuvreux
Isha Sharma - Stifel
Lars Vom-Cleff - Deutsche Bank AG
Oliver Schwarz - Warburg Research
Presentation
Operator
Dear ladies and gentlemen, welcome to the Full Year Results 2023 Analysts Conference Call of Fuchs SE. This conference will be recorded. As a reminder, all participants will be in a listen-only mode. After the presentation, there will be an opportunity for the analysts of Fuchs to ask questions.
May I now hand over to Lutz Ackermann, Head of Investor Relations at Fuchs SE, who will start the meeting today. Please go ahead.
Lutz Ackermann
Yeah. Good afternoon, ladies and gentlemen. On behalf of Fuchs SE, I wish you a very warm welcome to today’s conference call on the fiscal year figures. With me on the call today is Stefan Fuchs, our CEO; and Isabelle Adelt, our CFO, and both will run you through the presentation in a second. All the relevant documents have been uploaded at 7 a.m. this morning and you can find them on the IR section of our homepage.
Having said that, I would like to hand over to Stefan. Stefan, please go ahead.
Stefan Fuchs
Thank you very much, Lutz, and a warm welcome from my side to all of you. I think this is a nice conference call for us because we are really proud of record sales, record profits and a really super cash flow last year, and Isabelle will go in all detail with you through the numbers.
But first of all, I want to come back to a press release, which we made at the end of last year and since January 1, 2024, we have a Deputy CEO again. We had one before many years, but with Timo Reister, we appointed really a great colleague to become my designated successor. Obviously, this decision will be made by the Supervisory Board at any appropriate time.
Timo is with the Fuchs Group since 15 years, the first five years he spent in the U.S., then he was two years in China and now he is in his ninth year as a Board member, and I’m really happy for himself, but more happy I am for the company because this is for long-term succession planning and I’m sure you will all appreciate it out of many reasons.
First of all, we have a plan going forward, because the one thing always is when someone wants to retire, the other thing is if something happens or the Supervisory Board is not happy with me any longer. I think it’s really good to have all of that lined out and when I look in between Timo and I, for me personally, I would not make such an announcement on my behalf if I would be here for another 10 years.
So if people ask me how long will this take, I always say I’m now 56 and all things being equal, I would really like to retire at the age of 60, because then I will have been the CEO since 25 years, and I think, that would be a good time....
Fuchs SE (FUPBY) Q4 2023 Earnings Call Transcript