February 27, 2019 / 6:51 AM / 7 months ago

Wienerberger aims to increase 2019 core profit by at least 19 percent

VIENNA, Feb 26 (Reuters) - Brickmaker Wienerberger said on Wednesday that efficiency measures and new accounting rules should help it increase its 2019 core profit by at least 19 percent despite largely stable residential housing and infrastructure markets.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to increase to 560-580 million euros ($637-$660 million) from 469 million euros last year, the Austrian group said.

The 2019 target includes the first-time application of IFRS 16 accounting standard with positive impact of around 41 million euros, it said. Efficiency measures are expected to contribute 40 million euros.

$1 = 0.8791 euros Reporting by Kirsti Knolle; editing by Thomas Seythal

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