Wienerberger AG recorded a 7% year-on-year increase in operating EBITDA to €82.2 million (~ $114 million) for the third quarter of 2010. This improvement was based on the restructuring measures implemented in 2009, since new residential construction was negatively influenced by economic uncertainty, high unemployment and the resulting low level of consumer confidence.
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.”
For additional details, visit www.Wienerberger.com