Calumet

Calumet Specialty Products Partners, L.P. reported net income for the quarter ended March 31, 2015 of $23.8 million, compared to a net loss of $49.8 million for the same quarter in 2014.

Excluding special items, Calumet reported Adjusted Net Income of $58.1 million, for the first quarter 2015, versus an Adjusted Net Loss of $75.7 million for the first quarter 2014. First quarter 2015 Adjusted Net Income excludes three special items: (1) a charge related to a lower of cost or market ("LCM") inventory adjustment of $13.2 million; (2) a $6.8 million gain on the early settlement of select 2015 crack spread derivative contracts; and (3) $27.9 million of unrealized derivative losses.

Calumet reported Adjusted EBITDA of $124.9 million for the first quarter 2015, versus $82.7 million for the prior year period. Balanced contributions from the Partnership's specialty and fuels products segments contributed to record first quarter Adjusted EBITDA, primarily due to a combination of strong operational reliability throughout its refining system, increased sales volumes of both fuels and specialty products and seasonally strong refining economics.

Distributable Cash Flow ("DCF") for the first quarter 2015 was $94.1 million, compared to $49.4 million in the prior year period. The year over year improvement was primarily driven by higher gross profit in the fuels product segment.

Specialty products gross profit increased 2.0%, or $2.0 million, in the first quarter 2015, compared to the first quarter 2014. The year over year increase was primarily due to the decreased cost of feedstocks, partially offset by decreased selling prices per barrel and a $23.7 million unfavorable LCM inventory adjustment.

Lubricating oils volume increased to 12,090 bpd in the first quarter compared to 10,617 bpd in the first quarter of 2014.

Calumet continues to make progress on a project designed to more than double the production capacity of its Louisiana, Missouri esters plant from 35 million pounds per year to an estimated 75 million pounds per year. Calumet expects this project to be completed during the third quarter 2015. Esters are a key base stock used in the aviation, refrigerant and automotive lubricants markets. The total estimated annual EBITDA contribution from this project is estimated to be $8.0 million to $12.0 million, subject to market conditions.

FUCHS

The globally operating lubricant producer FUCHS PETROLUB SE generated sales revenues of EUR 493 million in the first quarter of 2015 compared to EUR 457 million in the first quarter of 2014, representing an increase of 8%. Adjusted for currency effects, sales revenues increased by 1%. The two minor acquisitions made by the Group in Great Britain and South Africa / Australia in mid-2014 contributed just under 2% to the increase in sales revenues. Organic sales revenues remained slightly below the high level recorded in the same period of the previous year (-1%).

Earnings before interest and tax (EBIT) increased by EUR 6 million or 8% to EUR 82 million compared to EUR 76 in the 2014 quarter. At the same time, earnings after tax rose by EUR 4 million or 8% to EUR 57 million compared to EUR 53.

Free cash flow reached a value of EUR 30 million compared to EUR 26 million in the first quarter in 2014.

The FUCHS PETROLUB Group also expects increases in sales revenues for the financial year. Should the euro remain weak, EBIT and earnings after tax are set to increase by a mid to higher single-digit percentage. In terms of free cash flow, the Group anticipates the amount to once again exceed EUR 150 million.