Wienerberger AG recently announced results for the first half of 2012. Group revenues rose 5% to €1,036 million (~ $1,285 million), compared to €986 million (~ $1,223 million) in the same period last year.
The business was reportedly influenced by the strong turbulence in the euro zone, as well as a long frost period in the first quarter. The crisis of confidence surrounding the European currency has intensified in recent months due to the high sovereign debt in a number of countries and the resulting discussions over possible austerity programs. This, in turn, led to significant weakness on the new residential construction and renovation markets in the company’s European core markets.
In contrast, performance was sound in the U.S., Russia and India. A moderate increase in U.S. housing starts was reflected in rising demand and higher volumes. In North America, Russia and India, Wienerberger market shares increased significantly in a dynamic market environment.
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