Calumet

For the three months ended June 30, 2016, Calumet Specialty Products reported a net loss of $147.9 million compared to a profit of $2.5 million in the second quarter of 2015.

The Partnership's net loss for the second quarter 2016 includes, but is not limited to, the impact of four items: (1) $147.3 million of non-cash charges due mainly to the Partnership's divestiture of its 50% joint venture interest in Dakota Prairie Refining, LLC; (2) a favorable lower of cost or market inventory adjustment of $36.3 million; (3) net expense of $8.2 million related to the Partnership's ongoing compliance with the U.S. Renewable Fuel Standard; and (4) a $7.1 million loss from unconsolidated affiliates primarily related to DPR, which was included in results from operations until divested on June 27, 2016.

The Specialty Products segment (which includes lubricants) gross profit for the second quarter of 2016 was $98.5 million compared to $109.7 million in the second quarter of 2015. Specialty products segment Adjusted EBITDA for the second quarter 2016 was $59.0 million compared to $63.2 million during the second quarter 2015.

During the second quarter 2016, total specialty products sales volumes increased 15.6% above year-ago levels. Segment gross profit in the period was impacted by a rapid rise in crude oil prices, which outpaced adjustments in product pricing during the second quarter 2016. In response to higher crude oil prices, the Partnership enacted price increases in the specialty products segment in June 2016.

Calumet sold 15,716 barrels per day of lubricating oils in second quarter 2016 compared to 15,005 bpd in the second quarter of 2015 and 2,110 bpd of packaged and synthetic specialty products compared to 1,605 bpd in 2015 quarter.

FUCHS

FUCHS PETROLUB increased its sales revenues by 13% to EUR 1,136 (US$1,270) million in the first half of 2016. External growth resulting from the two acquisitions, specifically Pentosin and Statoil Lubricants, made in 2015, was 14%. Organic growth of almost 3% was offset by negative currency effects of -4%.

As with sales revenues, the income statement is also significantly influenced by the acquisitions of the previous year. The earning power of the companies acquired in 2015 is still below the Group average. In total, EBIT grew by 7% to EUR 183 million compared to EUR 172 million. Earnings after interest and tax also increased by 7% and reached a value of EUR 127 million compared to EUR 119 million.

"FUCHS PETROLUB had a good first half-year and achieved its sales revenue and earnings targets. We are making good progress with our ambitious investment program, and a small acquisition in the US in June is also strengthening the specialty business. Once again we generated a considerable level of free cash flow," comments Stefan Fuchs, Chairman of the Executive Board at FUCHS PETROLUB SE.

From a regional perspective, growth achieved in Europe is attributable to acquisitions (+25%). Organic sales revenues increased by 3% - primarily in Germany, Central, Eastern and Southern Europe. The Asia-Pacific, Africa region recorded organic growth in virtually every country (+2%), but is slightly below the previous year due to currency effects. North and South America remains around 2% below the previous year due to weak South American currencies.

In Europe, EBIT grew by EUR 12 million to EUR 95 million. The Asia-Pacific, Africa region recorded an increase in EBIT of 3% to EUR 61 million. At EUR 32 million, EBIT recorded in North and South America was around 4% lower than the previous year's result.

FUCHS PETROLUB reaffirms the outlook for the financial year. The company expects acquisition-based and organic growth in sales revenues in the range of 7% to 11% for the financial year. The sales revenue forecast does not account for currency translation effects. Sales revenues related to the Pentosin acquisition will no longer be reported as external growth in the second half of 2016; however, sales revenues generated through the Statoil Lubricants business will continue to be reported as external growth for a further three months. The Group anticipates EBIT growth to be between 3% and 7%.