Dyckerhoffs group sales declined substantially in the first quarter 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 million euro) | Jan - Mar 2010 | Jan - Mar 2009 | Change absolute | |||||||||||
| Group sales | 202 | 258 | - 56 | |||||||||||
| thereof division Germany/Western Europe | 113 | 135 | - 22 | |||||||||||
| thereof division Eastern Europe | 60 | 80 | - 20 | |||||||||||
| thereof division United States of America | 29 | 43 | - 14 | |||||||||||
| EBITDA | - 10 | 6 | - 16 | |||||||||||
| EBIT | - 39 | - 21 | - 18 | |||||||||||
| Result before income taxes | - 51 | - 35 | - 16 | |||||||||||
| Net profit (loss) | - 36 | - 26 | - 10 |
The exceptionally cold and long winter in Europe and in the USA led to volume declines. Accordingly, Dyckerhoff Group sales decreased in all divisions, and fell by 22 % in the first quarter of 2010.
Group EBITDA decreased by EUR 16 million to EUR -10 million. Depreciation and amortization rose by EUR 2 million and EBIT dropped by EUR 18 million. Net investment income decreased by EUR 1 million. Interest expenses increased by EUR 2 million; this was largely due to the borrower’s note loan taken up in 2009. Interest income decreased by EUR 2 million. Other financial results improved by EUR 7 million, mainly attributable to currency effects. The result before income taxes was down by EUR 16 million. In total, this resulted in a net loss of EUR 36 million in the first quarter of 2010.
For fiscal year 2010 Dyckerhoff expects Group sales at approximately EUR 1.4 billion, which corresponds to the previous year's level. During the 2009 fiscal year, EBITDA included one-time effects amounting to around EUR 20 million; Dyckerhoff therefore expects EBITDA to drop in 2010. Dyckerhoff also anticipates a marked decline in EBT and net profit for the Group.
The complete Interim Report will be released on May 5, 2010 at noon.
Company contacts:
Investor Relations Assistant
Mariangiola Fiore
Phone +39 0142 416 404
Email mfiore@buzziunicem.it