ots Ad hoc-Service: Wienerberger Baustoffind. <AT0000831706> Report on the Third Quarter 2000
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Report on the Third Quarter 2000
The first nine months of this year were characterized by the systematic implementation of our Wienerberger concentration strategy. The final milestone was reached at the end of September with the successful sale of Treibacher Industrie AG. This transaction reduced the share of Group capital employed held by the Financial Investments business unit to less than 1% from a level of 37% four years ago. The Wienerberger Group has now become a "pure player" in the international building materials industry.
During the first three quarters of the reporting year, Group sales rose by 33% to EUR 1,319.5 million. Growth in the building materials segment was especially solid, with an increase of 34% to EUR 1,152.1 million. Organic growth in bricks and pipes reached only 3%, reflecting increasingly difficult market conditions in Germany and Austria. In contrast, outstanding results were recorded in Eastern Europe and the USA. Group EBIT increased by 77% from January to September, rising to EUR 236.1 million. This development was supported by gains on the sale of Treibacher Industrie AG, Wipark Garagen GmbH and the Wiekor Group. Even after adjustment for non-recurring effects in both comparative periods, operating income shows a solid increase of 37% to EUR 140.5 million. EBIT on building materials activities rose by 46% to EUR 146.2 million during the first nine months of this year. Organic earnings growth in the building materials segment was, however, impaired by a massive increase in the cost of energy and a difficult market environment in Germany and Austria.
Third Quarter The outstanding developments of the first six months did not continue into the Third Quarter. A strong decline in residential construction orders in Germany (-22% vs. September 1999) obviously led to a decrease in brick sales, and continuing excess capacity increased pressure on prices. Market problems in Germany also affected the clay pipe and plastic pipe segments. Sales of building materials still rose by a total of 19% to EUR 420.2 million, supported by US acquisitions this year. EBIT in the building materials segment was further affected by high energy prices in the Third Quarter, and declined by 8% to EUR 47.2 million from the highly profitable period of last year.
Results 1-9/2000 - Sales
1-9/1999 1-9/2000 Vdg.
in EUR mill. in EUR mill. in %Wall, Ceiling and Roofing Systems 620.1 828.6 +34 Pipe Systems and Sewage Technology 237.8 323.5 +36 Building Materials 857.9 1,152.1 +34 Financial Investments 133.5 167.4 +25 Wienerberger Group 991.4 1.319.5 +33
Results 1-9/2000 - EBIT
1-9/1999 1-9/2000 Vdg.
in EUR mill. in EUR mill. in %Wall, Ceiling and Roofing Systems 83.6 124.7 +49 Pipe Systems and Sewage Technology 16.4 21.5 +31 Building Materials 100.0 146.2 +46 Financial Investments 33.5 89.9 >100 Wienerberger Group 133.5 236.1 +77
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