Eastern Europe pushes Dyckerhoff ahead

Eastern Europe pushes Dyckerhoff ahead
Published: 07 August 2007

Buzzi Unicem’s quoted subsidiary Dyckerhoff increased its fist half turnover by 29.8% to EUR810m, helped by an initial contribution from its new Dutch subsidiary, without which there would still have been a 21.2% advance.  Cement shipments were 12.4% higher at 8.4Mt and, thanks to the Dutch addition, ready-mixed concrete deliveries were some 35% higher at 3.5m m³.  The EBITDA registered 34.0% increase to EUR201m, with the largest profit increases coming from eastern Europe.  Capital expenditure jumped by 113% to EUR83m, but with net debt, excluding pension provisions amounting to EUR103m, the gearing level was just 7.8%. 
 
German cement shipments were helped by higher exports and rose by 12.9%, while the underlying turnover increased by 16.7% to
EUR235m, with the contribution from cement rising by some 19% to EUR147m while the concrete contribution declined by 3% to EUR88m. Prices rose by around 8% in both cement and ready-mixed concrete and the EBITDA improved by 24% to EUR41m. Luxembourg cement prices improved by 2%, but profits in the period rose by some 40% on a turnover 41.2% higher at EUR48m.  The initial profit contribution from Dyckerhoff Basal in The Netherlands amounted to some EUR5m on a turnover of €68m.