German Dyckerhoff net profit up 7% YoY in 2008
Dyckerhoff AG reported a net profit of EUR 306.7m (US$ 395.8m) for 2008, a rise of seven per cent YoY.
The company attributed the result to the considerably lower expenses for income taxes.
It said it will propose a dividend increase to EUR 2 per ordinary and preferred share each versus EUR 1.32 a year earlier.
Dyckerhoff also booked a pretax profit of EUR 414.7m, down from EUR 434.1 million.
EBITDA were up 3% to EUR 578.6m. The figure was influenced by one-time effects of EUR 5m and EUR 5.6m in exchange rate variances. Adjusted for these effects, the EBITDA rose 9%.
Sales added 11% to just under EUR 2bn. The fall in US sales was more than offset by increased sales in Eastern Europe, which grew 25%, as well as in Germany and western Europe.
Like-for-like group sales were up 10%.
Domestic sales made up 29% of total sales, while eastern Europe, western Europe and the USA accounted for 47%, 11% and 13%, respectively, of the total figure.
The equity ratio increased to 49% from 45.2%.
For 2009, Dyckerhoff expects a significant weakening of its business resulting from the global recession.
Published under Cement News
