EQS-News: Wienerberger AG: Wienerberger building Europe’s first true pitched roof expert
EQS-News: Wienerberger AG / Key word(s): Acquisition
Wienerberger AG: Wienerberger building Europe’s first true pitched roof
expert
20.12.2022 / 08:52 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Wienerberger building Europe’s first true pitched roof expert
• Wienerberger intends to acquire Terreal’s business in Germany, France,
Italy, Spain and the USA. The businesses in Austria, Poland and
Hungary remain under the ownership of the existing shareholders
• Terreal is a successful European supplier of innovative roof and solar
solutions headquartered in France
• Wienerberger to expand its market presence in the attractive
renovation and repair markets of France and Germany
• Enhanced joint solution offering by leveraging Terreal’s highly
complementary product portfolio
• Combined pitched roof business expected to sell approx. 75 million m^2
of roof annually, doubling Wienerberger’s roofing sales, and have an
enhanced proposition in solar solutions for the roof
Vienna, December 20, 2022 – The Wienerberger Group, a leading provider of
sustainable building materials and infrastructure solutions, announces
that it has submitted an offer to acquire selected core businesses of
Terreal from its shareholders.
Terreal: A successful European supplier of roofing products focused on
renovation and repair
The scope of the transaction would include the business of Terreal in
France, Italy, Spain and the USA, and the German and Benelux businesses of
Creaton, acquired by Terreal in 2020, altogether employing nearly 3,000
people. Following the transaction, Wienerberger would expand its
production footprint by 29 sites. The acquisition of the Terreal
businesses, which are on track to generate annual revenues of approx. €
740 million in 2022, would be an important addition to Wienerberger’s
operations, especially in view of the new French environmental plans
regarding the energy efficiency of buildings adopted alongside EU
electricity demand reduction regulations. Moreover, Terreal operates
state-of-the-art facilities, in particular in France, including the
research and development center in Castelnaudary and Germany.
The ideal next step in Wienerberger’s value-creating growth strategy
For Wienerberger, the acquisition of Terreal would be complementary to its
existing business and would offer unique growth opportunities, especially
in the French and German markets, and would enable the company to further
strengthen its position as an industry pioneer of innovation and
decarbonization.
Commenting on the acquisition, Heimo Scheuch, Chairman of the Managing
Board of Wienerberger, says, “Renovating Europe’s old housing stock is an
essential step to achieve climate neutrality. For Wienerberger, this field
of business offers huge growth potential to be tapped in the years to
come, especially in the roofing segment, including solar and
water-management solutions. The acquisition of Terreal would double our
roofing sales to 75 million m^2 annually and thus constitutes an ideal
next step in the implementation of our value-creating growth strategy.
With Terreal’s highly complementary portfolio, which is a perfect fit for
our own product range, we would further enhance our capacity to provide
first-rate solutions, above all in the strategically important markets of
France and Germany. At the same time, our position in the renovation and
repair sector would improve substantially. Thanks to our shared focus on
sustainability, innovative solutions and digital business models, 225,000
tons of CO[2] emission will be reduced by installing our solutions
annually. Moreover, we will deliver sustainable synergies by combining our
production facilities and technologies and expanding our product range
with respect to the pitched roof, including accessories and insulation. By
creating the first real European pitched roof expert integrating solar,
rainwater and other solutions for the roof, Wienerberger builds a strong
platform for further growth.”
Laurent Musy, CEO of the Terreal Group, adds: “In the last years, Terreal
has implemented a successful strategy of sustainable growth, owing to the
dedication of our teams, and the support of our customers, communities and
shareholders, all of whom I want to thank. The successful acquisition and
integration of Creaton in Germany and Eastern Europe has been a very
positive highlight. At a time of unprecedented challenges associated with
high energy prices and ever more urgent needs for the decarbonization of
our industry and building in general, joining forces with Wienerberger
would allow us to accelerate our existing roadmap thanks to best practice
sharing, investment, innovation and digitalization. Wienerberger is a
highly reputable European company with deep expertise in the clay roof
tile and brick industry worldwide. It would clearly benefit from the
complementarity of our industrial footprint and from the addition of
Terreal’s / Creaton’s brands, assets and capabilities, notably in France
and Germany, in pitched roof solutions and solar. Wienerberger has an
ambitious industrial and commercial project that will ensure the
sustainable growth of our activities. Our very successful colleagues in
Austria, Poland and Hungary, would remain under the ownership of our
existing shareholders. We would continue to support them in the transition
phase.”
By acquiring Terreal, Wienerberger would be taking its biggest step so far
within the framework of its value-creating growth strategy, which is based
on ambitious ESG criteria and focuses on the development of sustainable
products and solutions. To this end, the company has completely
repositioned itself strategically over the past ten years and evolved into
a full-range provider of energy-efficient renovation, new-build and water
management solutions. This combination of innovative products, engineering
know-how, and partnership-based distribution models integrated all over
Europe strengthens Wienerberger’s commercial network and, at the same
time, accelerates the company’s pursuit of its ambitious environmental
targets.
About Terreal
Founded more than 150 years ago, Terreal is a company headquartered in
France with international operations specializing in roof, solar, wall,
and façade products, selling well-known brands including Creaton, San
Marco, Ludowici and GSE Intégration. Alongside applications in the
construction of new buildings, Terreal’s broad range of innovative and
sustainable solutions is primarily designed for the renovation market.
Transaction details
Completion is targeted to occur over the course of 2023 and remains
subject to the approval by the competition authorities and satisfaction of
other conditions typical for a transaction of this nature. The transaction
consideration will be financed by cash-on-hand, bank loans and
Wienerberger Treasury stock, allowing
Wienerberger to maintain its strong balance sheet and liquidity position.
For the time being and until final approval of the competition antitrust
authorities Terreal will continue to operate its business completely
separately.
Wienerberger Group
The Wienerberger Group is a leading international provider of smart
solutions for the entire building envelope and for infrastructure.
Wienerberger is the world’s largest producer of bricks (Porotherm, Terca)
and the market leader in clay roof tiles (Koramic, Tondach) in Europe as
well as concrete pavers (Semmelrock) in Eastern Europe. In pipe systems
(Steinzeug-Keramo ceramic pipes and Pipelife 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 total of 216 production sites,
the Wienerberger Group generated revenues of € 4.0 billion and EBITDA LFL
of € 671 million in 2021.
For further information, please contact:
Claudia Hajdinyak, Head of Corporate Communications Wienerberger AG
t +43 664 828 31 83 | claudia.hajdinyak@wienerberger.com
Daniel Merl, Head of Investor Relations Wienerberger AG
t +43 1 601 92 – 10221 | investor@wienerberger.com
Terreal & Creaton
Ann-Katrin Rieser, Corporate Communication Director Terreal & Creaton
t +49 8272 86 465 | ann-katrin.rieser@creaton.com
For France: Romain Grière, Directeur conseil Taddeo
t +33 (0) 7 86 53 17 29 | romain.griere@taddeo.fr
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20.12.2022 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: office@wienerberger.com
Internet: www.wienerberger.com
ISIN: AT0000831706
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1516943
End of News EQS News Service
1516943 20.12.2022 CET/CEST
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