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| Wienerberger reports drop in revenues Wienerberger AG, the world's largest producer of bricks and the number one in clay roof tiles in Europe, is reporting a 25% year-on-year drop in revenues for the difficult 2009 financial year. Shaken consumer confidence and, above all, a lack of financing triggered a major contraction in new construction in all Wienerberger markets. Declining sales volumes and slightly lower average prices, as well as the cost of extensive plant standstills to reduce inventories as part of the active working capital management program, led, as expected, to weaker operating results for Wienerberger in 2009: preliminary operating EBITDA (before restructuring costs) fell by 53% to € 208.6 million and preliminary operating EBIT by 92% to € 19.0 million. Preliminary EBIT after one off effects totaled € -258.1 million following the recognition of € 121.4 million in restructuring costs for optimization measures (including € 52.6 million of cash expenses), € 32.3 million of impairment charges to real estate and € 123.3 million of impairment charges to goodwill. write your comments about the article :: © 2010 Construction News :: home page |