May 14, 2020 / 6:09 AM / 23 days ago

Wienerberger cuts 2020 earnings outlook due to coronavirus crisis

May 14 (Reuters) - Austrian construction group Wienerberger cut its full-year earnings outlook on Thursday, citing coronavirus-related lockdowns in almost all countries.

Europe’s largest brickmaker now expects 2020 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to reach 440 million euros-480 million euros ($475-$519 million), compared with earlier estimate of 625 million euros-645 million euros.

The company posted a loss of 106.3 million euros in the three months through March, compared with a profit of 26.8 million euros a year earlier and a forecast of 24.0 million euros profit in a company-provided consensus. ($1 = 0.9256 euros) (Reporting by Bartosz Dabrowski in Gdansk)

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