Wienerberger reports sound results for 1H 2011

Wienerberger AG, the world's largest producer of bricks and the number one in clay roof tiles in Europe, presented sound results for the first half of 2011. After a good start in 2011, revenues rose by 8% and operating EBITDA by 11% in the second quarter. Wienerberger recorded an increase of 19% in revenues to € 986 million and 58% in operating EBITDA to € 123 million for the first six months of 2011. These results returned the brick producer to the profit zone in a market that remained very difficult in certain regions.

The sound earnings growth was driven by volume increases and an improvement in capacity utilization as well as cost reduction measures realized in earlier periods. Wienerberger also successfully implemented price adjustments to cover cost inflation, which led to a reversal in the average price trend: after a 5% price drop in 2010 compared to 2009, average prices were only slightly lower in the first quarter of 2011 than in the comparable period of 2010 and increased to +1% during the reporting period.
Source Construction Maintenance