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Dyckerhoff Group’s 2010 sales rise to €1.4 billion

World Cement,

Dyckerhoff AG’s preliminary Group sales rose by 3% to slightly above €1.4 billion in fiscal year 2010. Thereby, volumes increased in all countries, except the Czech Republic and the USA. Cement and concrete volumes increased by a total of 5% and 8 %, respectively. However, prices partly decreased considerably, only increasing slightly in Luxembourg. The sales proportion generated abroad grew by one percentage point to 63%.

“The results of the Dyckerhoff Group will fall significantly in the 2010 fiscal year”, says Wolfgang Bauer, CEO of Dyckerhoff AG. He adds: “As a result of the wintry weather at the end of the year, we expect the EBITDA margin to be between 15 and 16%. EBT and result after income taxes were primarily affected by the non-cash effective write-down on the production facilities of the Oglesby plant in the USA. The write-down is expected to reduce the Dyckerhoff Group’s result after income taxes by €48.3 million. We have mothballed the facilities there for an indefinite period. The market prospects and existing excess capacities have made this step necessary. However, we are only discontinuing cement production there, and are not abandoning our market position. The plant is now operated as a cement terminal and is supplied with cement from the Greencastle, River, and Cape Girardeau plants. This means that we are able to continue supplying our customers in this market region with cement.”

Bauer added: “For fiscal year 2011, we expect sales of the Dyckerhoff Group to reach approximately €1.5 billion […] a slight increase compared to the 2010 fiscal year. Dyckerhoff anticipates that EBITDA, EBT and Group results after income taxes will increase clearly. In particular, EBT and Group result after income taxes will benefit from the non-recurring write-down on the production facilities of the Oglesby cement plant”.

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