Wienerberger Reports 41% Increase in First Quarter Revenues
May 16, 2011
Wienerberger recently reported revenues of €395.1 million (~ $566 million) for the first three months of 2011, a 41% increase. Operating EBITDA improved from a loss of €22.6 million (~ $31 million) to €11.8 million (~ $16.9 million) due to higher capacity usage and a related decline in standstill costs. This development was also reflected in the gross margin, which rose from 14% in the first quarter of 2010 to 25% in the first quarter of 2011.
“Growth was driven entirely by higher volumes, since the moderate negative price effect of -1% was offset by positive foreign exchange effects of 1%,” said Heimo Scheuch, CEO. “In 2010, the price effect at the group level was higher at -5% due to our proactive pricing policy in Eastern Europe. We were able to significantly limit this first quarter price effect with a shift in the product mix to premium products. This confirms the success of our customer-oriented strategy, with its clear focus on value-added and innovative products for energy-efficient and sustainable new housing construction.”
For additional details, visit wienerberger.com.