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Against this backdrop, the company generated stable revenues of €517.7 million (~ $721 million), compared to €518.5 million (~ $723 million) for the period from July to September. First quarter 2010 revenues were €1,343.3 million (~ $1,874 million), down 5%; earnings equaled €160.5 million (~ $223 million), a 10% decrease, which represents a further offset of the negative earnings recorded for the first quarter.
“We were able to improve earnings based on our own strength, and that confirms our set course,” said Heimo Scheuch, CEO. “There was still no tailwind from the markets because the uncertainty over future economic developments and the extent of government spending cuts has had a negative effect on consumer confidence and paralyzed the construction economy in many regions.”
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