Dyckerhoff adjusted net profit up

Dyckerhoff adjusted net profit up
Published: 21 March 2005

German building materials manufacturer Dyckerhoff AG, controlled by Italian cement and concrete company Buzzi Unicem, reported a net profit of 41 mln euro ($54.8 mln) for 2004, up 36 per cent year-on-year, the company said on March 18, 2005. Dyckerhoff’s net profit stood at 248.9 mln euro ($332.7 mln) in 2003, including 218.8 mln euro ($292.5 mln) from the sale of Dyckerhoff’s stakes in German cement manufacturer Anneliese Zementwerke AG and Spanish sector company Cementos Hispania S.A.  Sales marked a decline of some 9.0 per cent to 1.2 bln euro ($1.604 bln), while sales adjusted for consolidation effects increased by 5.0 per cent.  Net debt was reduced by 413.4 mln euro ($552.6 mln) in 2004 and gearing rose by about 40 percentage points to 43.2 per cent.  Adjusted for the capital gains from the divestment of Anneliese Zementwerke and Cementos Hispania, operating cash flow fell by some 22 mln euro ($29.4 mln), solely due to consolidation effects and currency fluctuations.  Dyckerhoff said it expected the overall positive economic trend to continue in 2005.