EQS-News: wienerberger: Q3-results beat expectations

EQS-News: Wienerberger AG / Key word(s): Quarter Results/9 Month figures
   wienerberger: Q3-results beat expectations

   09.11.2023 / 07:30 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   wienerberger: Q3-results beat expectations

   Highlights

     • Strong results demonstrate the successful strategic orientation with a
       focus on innovation and sustainability
     • Revenues in a total of € 3,286 million, operating EBITDA
       of € 665 million
     • wienerberger outperforms its end markets in the third quarter and
       exceeds analysts' estimates

   Outlook 2023

     • EBITDA guidance for 2023 confirmed at € 800-820 million
     • Focus on innovation, proactive cost management and portfolio
       optimization

   Vienna, November 9, 2023 – Operating in a persistently challenging
   macroeconomic environment, wienerberger successfully held its ground in
   the third quarter of 2023, sustaining the good performance of the first
   two quarters. Compared to the record-breaking year of 2022, the company
   generated strong results, especially in view of the decline in demand in
   all relevant end markets, with third-quarter revenues at group level
   of € 3,286 million (Q3 2022: € 3,848 million) and operating EBITDA
   of € 665 million (Q3 2022: € 820 million). The continuation of the
   established self-help program aimed at earnings growth and efficiency
   enhancements contributed a satisfactory amount to earnings. These solid
   results once more demonstrate the resilience of the sustainable and
   diversified business model.

   “With a clear focus on proactive cost management, innovation and
   ecological solutions for new build, renovation as well as water and energy
   management, wienerberger was once again able to successfully maintain its
   position in the third quarter and is even better prepared for future
   challenges and opportunities. Focusing on the core environmental topics of
   decarbonization, the circular economy and biodiversity, solutions
   developed by wienerberger provide the necessary tools for affordable and
   sustainable construction and renovation. Against this backdrop, we look to
   the future with optimism and confirm our 2023 EBITDA targets”,  says Heimo
   Scheuch, Chairman of the Managing Board of Wienerberger AG.

   Performance of the Segments

   Europe West: In the first three quarters of the year, external revenues
   amounted to € 1,706 million (2022: € 1,923 million). Operating EBITDA came
   to € 319 million (2022: € 328 million).

   In the new construction segment, the decline in demand continued in the
   third quarter due to a lack of affordability as a result of the high level
   of interest rates and inflation in previous quarters. wienerberger also
   recorded a slight decline in the renovation segment. The flattening curve
   in the infrastructure segment in the second quarter continued in the third
   quarter and the cost-cutting measures introduced and the steady expansion
   of the portfolio led to continued good profitability in this segment.

   Europe East: During the first nine months of the business year, external
   revenues totaled € 934 million (2022: € 1,187 million). Operating EBITDA
   amounted to € 178 million (2022: € 311 million) in the first three
   quarters of 2023.

   The third quarter of 2023 showed a differentiated picture in the various
   countries: Although continued high interest rates and high inflation
   slowed demand in the region, there were signs of a slowdown in the
   downward trend. Due to the persistently high demand for housing, measures
   were taken in individual countries such as the Czech Republic and Poland
   to support the construction sector. The countries in south-eastern Europe
   were able to increase sales and earnings in both the construction and pipe
   business compared to the same period of the previous year.

   North America: For the first three quarters of the reporting period,
   wienerberger recorded external revenues of € 646 million
   (2022: € 737 million) and operating EBITDA of € 168 million
   (2022: € 181 million).

   As interest rates were raised again in the third quarter, demand cooled
   further, especially in the brick business. This development was
   particularly noticeable in the Southeast, while demand in Texas and Canada
   initially developed better than expected. However, this trend slowed
   towards the end of the third quarter. In the pipe business, wienerberger
   recorded an increase in infrastructure projects throughout the USA.

   2023 Outlook

   Based on developments seen to date, wienerberger expects the market
   environment to remain as challenging in the last three months of 2023 as
   it was during the first three quarters. Demand in the North American
   market is projected to remain stable, albeit at a lower level, whereas a
   further downturn in Western Europe and increasing stabilization in Eastern
   Europe are anticipated. With its constant focus on innovative ecological
   solutions, the further enlargement of the product portfolio, and its
   value-accretive growth strategy, wienerberger will continue to hold its
   own in the future. Given its strong position and its proven resilience,
   combined with profitability-increasing measures, the company is confident
   of delivering a very solid performance in the 2023 business year and once
   more confirms its operating EBITDA target of € 800-820 million.

   With the intention to acquire significant parts of the Terreal Group,
   wienerberger announced the biggest step in its value-creating growth
   strategy in December 2022. Up to now wienerberger has received all
   regulatory approvals without material remedies and is now awaiting
   approval of the secondary transaction by the antitrust authorities. The
   closing of the transaction is expected to take place at the year-end 2023
   or beginning of 2024. Earnings contributions from the Terreal Group are
   not included.

   For the complete report on the third quarter of 2023, please visit
   [1]https://www.wienerberger.com/en

   wienerberger
   wienerberger is a leading international provider of innovative, ecological
   solutions for the entire building envelope, in the fields of new buildings
   and renovations, as well as infrastructure in water and energy management.
   With more than 19,000 employees worldwide, wienerberger's solutions enable
   energy-efficient, healthy, climate-friendly, and affordable living.
   wienerberger is the world’s largest producer of bricks and the market
   leader in clay roof tiles in Europe as well as concrete pavers in Eastern
   Europe. In pipe systems (ceramic and plastic pipes), the company is one of
   the leading suppliers in Europe. By acquiring Meridian Brick, wienerberger
   further strengthened its position as a leading supplier of facade products
   in North America. With its more than 200 production sites, wienerberger
   generated revenues of approx. € 5.0 billion and EBITDA of € 1 billion in
   2022. 

   For further information, please contact:
   Claudia Hajdinyak, Head of Corporate Communications Wienerberger AG
   t +43 664 828 31 83 | claudia.hajdinyak@wienerberger.com

   Investor Relations Wienerberger AG
   t +43 1 601 92 - 10221 | investor@wienerberger.com

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   09.11.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
   www.eqs.com

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   Language:    English
   Company:     Wienerberger AG
                Wienerbergerplatz 1
                1100 Wien
                Austria
   Phone:       +43 1 60 192-0
   Fax:         +43 1 60 192-10159
   E-mail:      investor@wienerberger.com
   Internet:    www.wienerberger.com
   ISIN:        AT0000831706
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 1768841


    
   End of News EQS News Service


   1768841  09.11.2023 CET/CEST

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