Dyckerhoff group sales below previous year in the first half 2010
We report hereunder the ad-hoc-release issued today by the subsidiary Dyckerhoff AG, according to Article 15 Securities Trading Act (WpHG).
Key figures of the Dyckerhoff Group:
(in millions euro) | Jan - Jun 2010 | Jan - Jun 2009 | Change absolute | |||||||||
| Group sales | 621 | 652 | - 31 | |||||||||
| thereof division Germany/Western Europe | 329 | 333 | - 4 | |||||||||
| thereof division Eastern Europe | 208 | 219 | - 11 | |||||||||
| thereof division United States of America | 85 | 101 | - 16 | |||||||||
| thereof intercompany sales | - 1 | -1 | - | |||||||||
| EBITDA | 82 | 136 | - 54 | |||||||||
| EBIT (operating result) | 23 | 80 | - 57 | |||||||||
| Result before income taxes | 1 | 59 | - 58 | |||||||||
| Net profit | 1 | 45 | - 44 |
Dyckerhoff could not totally make up for the volume declines of the first quarter. In addition, prices declined for the most part. As a result, Group sales fell by just under 5 % in the first half of 2010.
Group EBITDA decreased by EUR 54 million to EUR 82 million, which was attributable to a reduction in volumes and prices on the one hand. On the other hand, the previous half-year included positive one-time effects of EUR 26 million. Depreciation and amortization rose by EUR 3 million and EBIT dropped by EUR 57 million. Interest expense increased by EUR 3 million, essentially due to the borrower’s note loan taken up in 2009. Interest income declined by EUR 2 million. Net investment income increased by EUR 4 million. Result before income taxes declined by EUR 58 million. This resulted in a net profit totaling EUR 1 million.
For fiscal year 2010 Dyckerhoff continues to anticipate sales of the Dyckerhoff Group to remain at approximately EUR 1.4 billion, which corresponds to the previous year's level. With an EBITDA margin at just under 18 %, Dyckerhoff anticipates a marked decline in EBT and Group net profit.
The complete interim report will be released on August 2, 2010 at noon.
Company contacts:
Investor Relations Assistant
Mariangiola Fiore
Phone +39 0142 416 404
Email mfiore@buzziunicem.it