Dyckerhoff net profit down on European markets

Dyckerhoff net profit down on European markets
18 March 2013

Buzzi Unicem's subsidiary Dyckerhoff has confirmed that net profit in 2012 fell as declines in Europe could not be offset by volume increases in Russia and the USA.

The German-based cement major said in a release on Friday that net attributable profit for the year fell 59.2 per cent from the year before to EUR26.9m. Group EBITDA of fiscal year 2012 amounted to EUR 284.2m including one-time one-time effects of EUR4.8m mainly from the sale of a real estate property in Memphis, US. Positive one-time effects in of EUR 6.3 million derived mainly from the sale of a former administration building in Luxembourg. Changes to the group of consolidated companies had a positive effect of EUR 0.2m while exchange rate effects increased EBITDA by EUR6m.

Cement volumes fell by 2.5 per cent YoY while ready-mix concrete volumes were down by 7.6 per cent.  Around 48 per cent of total sales were attributed to the Germany/Western Europe division, 39 per cent to Eastern Europe and 13 per cent to the USA. Average cement prices were down in Luxembourg and Poland, remained stable and rose in Germany, Ukraine, Russia and the USA.

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