Dyckerhoff Group net profit 2011 increased significantly

Dividend proposal: EUR 0.80 per each ordinary share and preferred share

Following the adoption of the annual financial statements of Dyckerhoff AG as at December 31, 2011, and after the approval of the consolidated financial statements as at December 31, 2011, the Board of Management and the Supervisory Board of Dyckerhoff AG have just decided to propose to the Annual General Meeting on May 9, 2012 the payment of a dividend of EUR 0.80 (2010: EUR 0.50) per each ordinary share and per preferred share for the fiscal year 2011.

Summarized Income Statement of the Dyckerhoff Group
(in EUR m)

2011 2010 Change
absolute 		Change
in %
Sales 1,599.6 1,412.8 186.8 13.2
EBITDA 291.0 218.6 72.4 33.1
EBIT (operating result) 147.6 22.8 124.8 >100
Result before income taxes 102.2 - 20.5 122.7 -
Result after income taxes 72.9 14.2 58.7 >100
Group net profit
(attributable to shareholders of Dyckerhoff AG) 		65.6 6.4 59.2 >100

In fiscal year 2011 Group sales increased by EUR 186.8 million or 13.2 % to EUR 1.6 billion, in comparison to previous year. Dyckerhoff benefited considerably from the untypical winter in 2011, which facilitated cement and concrete deliveries virtually all year, this led to volume increases by 15 % and 19 %, respectively. Average cement prices decreased in Germany, Luxembourg, in the Czech Republic and in the USA, while they increased in Poland, Ukraine and Russia. About 52 % of total Group sales can be ascribed to Germany / Western Europe, 37 % to Eastern Europe and 11 % to the USA.

Group EBITDA increased by EUR 72.4 million, or 33.1 %, to EUR 291.0 million. This includes positive one-time effects of a total of EUR 6.3 million, mainly from the sale of a former office building in Luxembourg. This compares to negative one-time effects of EUR 10.6 million in 2010, especially related to the "mothballing" of the US plant Oglesby. Changes to the group of consolidated companies accounted for positive EUR 3.3 million; exchange rate effects reduced EBITDA by EUR 2.8 million.

The result before income taxes increased to EUR 102.2 million (2010: EUR -20.5 million). In the previous year, EUR 78.0 million were due to the measures in the Oglesby plant in the USA. The result after income taxes amounts to EUR 72.9 million, and Group net profit is EUR 65.6 million. Equity ratio fell slightly to 49.5 % (2010: 50.4 %). Net debt decreased to EUR 261.7 million (2010: EUR 398.0 million), and Gearing fell to 15.1 % (2010: 23.8 %).

For the year 2012 Dyckerhoff expects Group sales and EBITDA at similar levels as in 2011.

The complete consolidated financial statements of Dyckerhoff AG will be published in the context of the press conference on March 26, 2012.