Press release

Dyckerhoff performance in the first quarter of 2010 was clearly affected by the long and cold winter

Volume decreases in all markets – Outlook for fiscal year 2010: Group sales at approximately EUR 1.4 billion corresponds to previous year’s level

The exceptionally cold and long winter in Europe and in the USA led to volume declines. Accordingly, Dyckerhoff Group sales decreased in all divisions, and fell by 22 % to EUR 202 million in the first quarter of 2010.

Group EBITDA decreased by EUR 16 million to EUR -10 million. Depreciation and amortization rose by EUR 2 million and EBIT dropped by EUR 18 million to EUR -39 million. Net investment income decreased by EUR 1 million. Interest expenses increased by EUR 2 million; this was largely due to the borrower’s note loan taken up in 2009. Interest income decreased by EUR 2 million. Other financial results improved by EUR 7 million, mainly attributable to currency effects. The result before income taxes was down by EUR 16 million to EUR -51 million. In total, this resulted in a net loss of EUR 36 million in the first quarter of 2010 and corresponds to a deterioration of EUR 10 million compared with last year.

Wolfgang Bauer, CEO of Dyckerhoff AG, explains: "The first quarter is not representative for the whole year, as the weather conditions limited construction activity substantially. The strength of the catchup effect during the spring and summer months should give further indications of the development of the construction industry over the whole of 2010."

For fiscal year 2010 Dyckerhoff expects Group sales to remain at approximately EUR 1.4 billion, which corresponds to the previous year's level. During the 2009 fiscal year, EBITDA included one-time effects amounting to around EUR 20 million; we therefore expect EBITDA to drop in 2010. We also anticipate a marked decline in EBT and net profit for the Group.