Wienerberger: preliminary results for 2009
Savings through restructuring and reduction of net debt
Wienerberger AG is reporting a 25% year-on-year drop in revenues for the difficult 2009 financial year. Preliminary operating EBITDA (before restructuring costs) fell by 53% to € 208.6 million and preliminary operating EBIT by 92% to € 19.0 million. The decisive implementation of the cost reduction programme and, above all, the significant reduction of working capital and investments allowed Wienerberger to increase free cash flow by an impressive 28% to around
€ 250 million for the reporting year despite weaker
operating results in a difficult market environment. It was possible to reduce net debt from € 890 million to approx.
€ 410 million.
€ 250 million for the reporting year despite weaker
operating results in a difficult market environment. It was possible to reduce net debt from € 890 million to approx.
€ 410 million.
Wienerberger remains cautious for 2010 because of the still limited market visibility. “I am an optimistic person and assume the worst is now over in most of our markets. But just when and to what extent recovery will take hold is something I would not want to predict at this time”, said Heimo Scheuch, Chief Executive Officer of Wienerberger AG, guardedly. Based on the current outlook, he excludes further plant shutdowns in 2010.
More information under News (12.02.2010) at
www.zi-online.info.
www.zi-online.info.
