Dyckerhoff sees continued German downturn

Dyckerhoff sees continued German downturn
Published: 03 February 2005

Dyckerhoff, in which Buzzi Unicem now controls 91.2 per cent of the voting shares and 76.7 per cent of the total equity,  generated a turnover of €1,199m, underlying increase of around five per cent but 9.2 per cent lower in actual terms because of disposals and exchange rate movements.  Overall capital expenditure was some €35m lower at €74m. In Germany, the turnover was 6.2 per cent lower at €502m reflecting disposals and lower construction activity that was partially offset by a €12 to €13 increase achieved in the average price for cement per tonne.  In Luxembourg turnover rose by 8.9 per cent to €135m, with cement deliveries marginally higher.  Against a stable market in Luxembourg and a continued difficult market for the Dutch associate, German cement demand is forecast to fall by a further four per cent in 2005. However, the pricing improvement is still largely on course, with a €9.50 per tonne increase being implemented from January.