Brickmaker Wienerberger upbeat on profit

Austrian brickmaker Wienerberger is confident about reporting a profit this year and expects up to 500 million euros ($717 million) in operating income in 2014 or 2015, its chief executive told a newspaper.

"I continue to be confident that we will make a profit in the full year," CEO Heimo Scheuch told daily Wirtschaftsblatt in comments published on Tuesday.

"By 2014/15 it will be possible to make 500 million euros in EBITDA," he said.

Analysts expect Wienerberger to make 40.4 million euros net profit this year according to estimates compiled by Thomson Reuters I/B/E/S. The company is also expected to make over 500 million euros in earnings before interest, tax, debt and amortisation (EBITDA) by 2015.

Scheuch added that Wienerberger's U.S. business should report underlying earnings this year rather than a loss, despite having reduced capacity there.

"We are hoping for better times. But we are not planning any acquisitions there," he said. His company, which is the biggest producer of bricks in the world, sees its future growth potential in Russia and India, Scheuch said. (Reporting by Sylvia Westall; Editing by Erica Billingham)
Source Reuters