Dyckerhoff grew clearly in the first half 2008
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:
(million euro) | Jan - Jun 2008 | Jan - Jun 2007 | Change | |||||||||
Group sales | 964 | 810 | 154 | |||||||||
thereof division Germany/Western Europe | 397 | 351 | 46 | |||||||||
thereof division Eastern Europe | 450 | 311 | 139 | |||||||||
thereof division United States of America | 117 | 148 | - 31 | |||||||||
EBITDA | 278 | 201 | 77 | |||||||||
EBIT (Operating result) | 207 | 146 | 61 | |||||||||
EBT | 194 | 138 | 56 | |||||||||
Net profit | 142 | 96 | 46 |
In the first half 2008 Group sales grew by 19 %. In Western Europe and in Eastern Europe Dyckerhoff benefited from higher volumes and prices. In the USA the subprime crisis as well as bad weather lead to decreased volumes. Accordingly, the Germany / Western Europe and Eastern Europe divisions contributed to the sales growth, while sales of the business division USA slowed clearly.
With an EBITDA of EUR 278 million Dyckerhoff achieved a growth by EUR 77 million. With the decision to expand capacity at the River plant, it was decided at the same time to reduce import delieveries and, as needed, to close the clinker and cement production at the old, less profitable Independence plant in Kansas. Since cement demand in the USA is declining sharply, production at the Independence plant will be suspended in advance as of the beginning of September 2008, with this location being operated thereafter as a terminal. This is the main reason for the total of EUR 16 million in increased depreciation. At decreased net interest and financial result as well as decreased investment income, earnings before taxes improved by EUR 56 million to EUR 194 million. Also net profit for the first half year of EUR 142 million improved clearly.
For 2008 as a whole, Dyckerhoff expects a slight increase in Group sales and results.
The complete interim report will be released on August 11, 2008 at noon.
Company contacts:
Investor Relations Assistant
Mariangiola Fiore
Phone. +39 0142 416 404
Email mfiore@buzziunicem.it