Global brick and clay roof tiles maker Wienerberger AG has released half-year figures that show revenues up by 19%.
Group revenues rose 19% to 986 million Euro and operating EBITDA by 58% to 123 million Euro from January to June 2011.
The growth in earnings was driven by volume increases and an improvement in capacity utilization as well as cost reduction measures from earlier periods.
Wienerberger also successfully implemented price adjustments to cover cost inflation: after a 5% price drop in 2010 compared to 2009, average prices were only slightly lower in the first quarter of 2011 than in the comparable period of 2010 and increased to +1% during the reporting period.
"These results prove that we are on the right track. Our key success factors include a clear focus on marketing and sales with innovative and energy-efficient products, smaller value creating acquisitions to strengthen our market positions, earlier cost-cutting measures and strict cost management", said Heimo Scheuch, CEO of Wienerberger AG.
Wienerberger AG will launch a share buyback program during the period from August 22 to November 22, 2011, representing 2% of share capital, for a price between 1.00 and 26.20 Euro per share.
Wienerberger plans to use the repurchased shares as currency should acquisition opportunities arise.