WIESBADEN (dpa-AFX) - German cement and concrete products company Dyckerhoff AG reported Monday a higher profit for its first nine months driven by higher volume, despite poor performance in the USA. The company also backed its fiscal 2011 sales and EBITDA forecast.
Nine-month result after income taxes grew to 66 million euros from 50 million euros last year. Result before income taxes was 89 million euros, higher than prior year's 57 million euros.
Group sales increased 14 percent to 1.22 billion euros from 1.07 billion euros a year ago.
The company noted that the volumes of Dyckerhoff products increased almost in all relevant markets, only exception were the USA, there volumes decreased. Average prices were higher in Ukraine, Russia and Poland, while in other countries, prices were not as high as they were the previous year, the company said.
Geographically, sales from Germany / Western Europe increased to 633 million euros from 549 million euros in the previous year. Sales were 456 million euros from Eastern Europe, higher than last year's 375 million euros.
Meanwhile, sales from USA declined to 129 million euros from 143 million euros a year ago.
Group EBITDA improved 29 percent to 231 million euros for the quarter.
Looking ahead, for 2011 as a whole, Dyckerhoff said it still expects Group sales at about 1.5 billion euros and EBITDA to improve significantly.
Copyright RTT News/dpa-AFX
