Press release

In the first half of 2010 Group sales still slightly below previous year; volume trend positive at declining prices

Partial reversal of first quarter's decline in volume – Full-year forecast confirmed: Group sales of about EUR 1.4 billion

Dyckerhoff could not totally make up for the volume declines of the first quarter. Prices declined in almost all regions. As a result, Group sales fell by 5 % to EUR 621 million in the first half of 2010.

Group EBITDA decreased by EUR 54 million to EUR 82 million, which was attributable to a reduction in volumes and prices on the one hand. On the other hand, the previous year included positive one-time effects of EUR 26 million. Depreciation and amortization rose by EUR 3 million and EBIT dropped by EUR 57 million to EUR 23 million. Interest expense increased by EUR 3 million, essentially due to the borrower’s note loan taken up in 2009. Interest income declined by EUR 2 million. Net investment income increased by EUR 4 million. Results before income taxes declined by EUR 58 million to EUR 1 million. For the first half of 2010, this resulted in a net profit also totaling EUR 1 million, which corresponds to a decrease of EUR 44 million compared with previous year.

For fiscal year 2010 Dyckerhoff anticipates sales of the Dyckerhoff Group to remain at approximately EUR 1.4 billion, which corresponds to the previous year's level. Wolfgang Bauer, CEO of Dyckerhoff AG, adds: "With an EBITDA margin at just under 18 %, Dyckerhoff expects a marked decline in EBT and Group net profit."

Dyckerhoff and Sievert have redesigned their partnership, dividing up the management functions for the various segments as follows: Sievert takes over the entire logistics and construction chemistry segments, and retains the majority of quick-mix. Dyckerhoff takes over the majority of the ready-mixed concrete segment and increases its minority stake in quick-mix. Following the approval of the Federal Cartel Office, this realignment was largely concluded with the signature of the contract in July 2010. The entry in the commercial register took place at the end of July. Thus, Dyckerhoff is taking over a total of 30 plant locations in Lower Saxony, North Rhine-Westphalia, and in northern Saxony-Anhalt from the ready-mixed concrete segment of the Sievert AG & Co. KG, which was associated up to now. In 2009, the plants and their approximately 130 employees achieved a total volume of ready-mixed concrete of around 600,000 cubic meters and sales totaling around EUR 50 million.