Tous Actualités
Suivre
Abonner Wienerberger AG

Wienerberger AG

euro adhoc: Wienerberger AG
Earnings
Preliminary Results for 2002 at Record Level (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
In 2002 Wienerberger AG returned to its former earnings power.
Despite unfavorable conditions in the majority of our markets,
earnings improved significantly in all operating areas - a trend that
also continued into the fourth quarter. This earnings growth was the
result of consequent restructuring in 2001, continuous optimization
of processes in the operating companies, and several profitable
growth projects.
Group revenues rose by 7% to EUR 1,654.3 million for the reporting
year. Sales volume and price increases in Eastern Europe were
contrasted with lower volumes in Germany, Austria, Switzerland, and
Northern Europe. In the USA the weaker dollar and a minor volume
decline led to a 5% drop in revenues. Bramac and Steinzeug recorded
higher revenues, but revenues at Pipelife fell slightly because of a
decrease in volume sales. Hanson Brick Continental Europe (Hanson
BCE) contributed EUR 100.2 million to Group revenues from April to
December.
Operating EBITDA for the Group (earnings before depreciation,
interest, taxes and non-recurring items) reached EUR 300.7 million,
for a 36% increase over the prior year. Brick activities in Germany
showed the largest growth, supported by further cost optimization and
a return to reasonable price levels. In Eastern Europe and Italy
earnings rose above the high prior year figures. Austria and
Switzerland also recorded a major improvement in earnings.
In the USA high capacity utilization following plant shutdowns in
2001 had a positive impact on earnings, despite the negative effect
of the weaker dollar. The Pipelife, Steinzeug and Bramac joint
ventures were able to record significantly higher profit. Hanson BCE
contributed EUR 12.4 million to Group EBITDA. Excluding major
acquisitions, organic EBITDA growth totaled 30%.
Operating EBIT (operating profit before interest and tax) more than
doubled from EUR 66.2 to 150.9 million. Two core segments showed
particularly outstanding results. In Western Europe EBIT turned from
EUR -6.6 to +43.0 million, supported chiefly by higher earnings in
Germany, and initial consolidation of Hanson BCE. In Central and
Eastern Europe operating profit continued to improve in all
countries, rising by a total of 63% to EUR 63.7 million.
The above operating results exclude non-recurring income and
expenses. These items generated an additional net total of EUR 0.5
million in 2002. The restructuring and sale of real estate yielded a
non-recurring gain of EUR 28.9 million. Unfavorable economic
forecasts, in particular for the German construction industry, led to
optimizations in the brick segment and an adjustment to the value of
our Pipelife investment. Non-recurring expenses totaled EUR 28.4
million, whereby EUR 4.8 million represent actual expenses and EUR
23.6 million are non-recurring write-downs.
For 2002 Wienerberger had set a goal to earn operating EBIT of
significantly more than EUR 100 million, and thereby approach the
comparable record EUR 147 million recorded in 2000. We have surpassed
this goal. Our success was made possible by the steady optimization
of business operations, our strong market positions, and the rapid
integration of Hanson BCE. Based on these good results, the Managing
Board will recommend that the Annual General Meeting approve an
increase in the dividend for 2002 from EUR 0.60 to 0.66 per share.
For further information and preliminary results by segments please
refer to our press release at www.wienerberger.com
Wienerberger AG
The Managing Board
Vienna, February 13, 2003
end of announcement        euro adhoc 13.02.2003

Further inquiry note:

Thomas Melzer Public und Investor Relations Tel.: +43(1)60192-463 Fax: +43(1)60192-466
mailto:investor@wienerberger.com http://www.wienerberger.com

Branche: Building materials
ISIN: AT0000831706
WKN: 083170
Index: ATX, ATX Prime, WBI
Börsen: Wiener Börse AG / official dealing