August 6, 2014 / 6:30 AM / 3 years ago

Wienerberger CEO upbeat on 2014 results-Wirtschaftsblatt

VIENNA, Aug 6 (Reuters) - Wienerberger, the world’s biggest brickmaker, will post solid results this year and intends to generate 100 million euros ($134 million) by 2016 by selling non-core property, Chief Executive Heimo Scheuch told Austrian paper Wirtschaftsblatt.

“We will present very solid results this year and get to the profit zone. You will see: we are growing while other building materials companies get into a tailspin,” he was quoted as saying in an interview printed on Wednesday.

Scheuch said this year would still be difficult for some countries in central and eastern Europe including Hungary, the former Yugoslav states, the Czech Republic and Slovakia.

“The great hopes in Poland this year have developed more modestly,” he said. Markets in Romania and Bulgaria had already found a floor and Russia was developing well, although Wienerberger was just a small regional player there.

Western Europe was patchy, with British construction starts stronger than expected while Austria, Switzerland and Scandinavia were stable. The Netherlands, Italy and France were proving to be tougher than expected, he said.

The U.S. housing construction market was in line with its cautious outlook, but there was a solid upward trend in new flats, he said.

Scheuch said Wienerberger would sell non-core properties in a structured way by 2016. “Overall we expected to raise around 100 million euros. This year it will probably be around 10 million, but we have no time pressure at all,” he said.

1 US dollar = 0.7486 euro Reporting by Michael Shields; editing by David Clarke

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