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In the third quarter of 2011, revenues declined by 1.7% in comparison with the second quarter of 2011 due to the traditionally weaker steel business in the summer months and the seasonal effect in the cement industry. Compared with the same quarter of 2010, revenues rose by 12.7% to €429.8 million (~ $592 million) in the third quarter of 2011. The operating result of the third quarter, at €39.2 million (~ $54 million), increased compared to € 32.8 million (~ $45 million) in the same period in 2010.
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