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Brick giant Wienerberger returns to profit

Wednesday, 22 February 2012 23:00

Austria's Wienerberger, the world number one in bricks, said Tuesday it returned to profit last year as restructuring and a shift to more profitable products helped it overcome a "challenging environment."Net income in 2011 was 41 million euros ($54.3 million), up from a loss of 35 million euros in 2010, with operating profit 23 percent higher at 259 million euros on sales of 2.0 billion euros, up 16 percent, a company statement said.

"These results confirm that we are on the right track," chief executive Heimo Scheuch said, despite "no real signs of recovery in many of our markets during 2011."

"After the restructuring phase, we repositioned the company and shifted the focus to our premium products and system solutions for energy-efficient construction to use the strong operating base as a platform for further growth.

"New residential construction picked up in Germany, Belgium, France and Russia, but the Netherlands, Britain, Switzerland,

Poland and the Czech Republic were flat and the market shrank in the United States, Hungary and southeast Europe.

For 2012 Wienerberger said it hopes to achieve organic growth and to outperform the market, but it stopped short of giving exact forecasts because of uncertainty about conditions in the United States and eastern Europe.Shareholders will receive a dividend of 0.12 euros per share, up 20 percent.

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