EQS-News: wienerberger: Solid Q3 Results Highlight Resilience and Sustainable Growth
EQS-News: Wienerberger AG / Key word(s): 9 Month figures
wienerberger: Solid Q3 Results Highlight Resilience and Sustainable Growth
12.11.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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wienerberger: Solid Q3 Results Highlight Resilience and Sustainable Growth
Highlights
• Stable operations in renovation and infrastructure enable wienerberger
to capitalize on robust sectoral demand
• More intensified cost management and efficiency improvements to
counteract macroeconomic challenges
• Revenues in total of € 3,392 million, operating EBITDA of
€ 602 million
Vienna, November 12, 2024 – wienerberger delivered solid results,
demonstrating resilience amid a challenging global macroeconomic climate
marked by political uncertainties in the US and Europe, rising
geopolitical tensions, and weather extremes, all of which have impacted
demand in certain markets in the third quarter 2024. Although wienerberger
is seeing a gradual improvement in its new residential housing volumes,
this has been slower than expected. Nevertheless, wienerberger leveraged
stable demand in the renovation and infrastructure sectors to maintain its
steady performance. Third-quarter revenues at the group level reached
€ 1,179 million, with an operating EBITDA of € 202 million.
These figures were also driven by wienerberger’s more intensified cost
management and efficiency improvements, focused on earnings growth.
Achieving these results, despite the anticipated market recovery not yet
materializing, highlights the resilience of wienerberger’s sustainable
growth strategy. This strategy emphasizes targeted, value-accreting
acquisitions that address sustainability challenges in the housing and
infrastructure sectors, while also meeting recovering demand.
Heimo Scheuch, CEO of wienerberger, says: “Our strategic focus on growth,
supported by targeted initiatives and innovative approaches aimed at
driving expansion and sustainability in the construction sector, has
enabled us to achieve solid results despite a challenging macroeconomic
environment. Amidst global market uncertainties, we have taken the
necessary steps to benefit from rising demand in several sectors.
Renovation and infrastructure in particular show a positive development,
as they are key sectors for a successful ecological transformation. Our
increased operations there, especially with our extended portfolio of
roofing solutions following the integration of Terreal into the group,
made a favorable contribution to earnings for wienerberger. As new
residential housing markets pick up in 2025 following lower interest rates
and governmental stimulus packages across markets take effect, we are
well-positioned to meet the anticipated new demand.”
Performance and Outlook Update 2024
The anticipated recovery of new residential housing markets in 2024 has
not materialized, primarily due to slower interest rate reductions and
limited impact of governmental countermeasures in countries such as
Austria, Germany, Belgium, France and North America. Additionally, demand
remains subdued, impacted by political uncertainty and weather extremes in
the third quarter. Eastern Europe and the UK/Ireland have shown positive
housing demand, offsetting some volume declines in Western Europe and in
the US. The infrastructure and renovation sectors are showing solid
development.
Despite the ongoing challenges, wienerberger has proactively managed
weaker markets through more cost-efficiency measures, saving € 22 million
in Q3 (totaling € 51 million in the first nine months of 2024). Throughout
the full year, wienerberger will achieve approx. € 60 million in savings
through our cost management initiatives and an additional approx.
€ 40 million through our self-help program, resulting in total savings of
approx. € 100 million.
During the first nine months, wienerberger generated strong free cash
flow, exceeding last year’s by over €180 million, driven by reduced
inventory levels and strict working capital management.
The integration of Terreal has strengthened wienerberger’s position as a
European pitched-roof expert and has contributed € 21 million to Q3
operating EBITDA, totaling € 56 million from March to September. The
acquisition of Terreal, a leading provider of solutions for roof
renovation, along with wienerbergers strong efforts in this business area,
aligns with climate goals, as renovating existing buildings is crucial for
reducing CO2 emissions.
Given sustained headwinds in key markets and ongoing macroeconomic
uncertainties, wienerberger expects the full year earnings to be € 750 –
770 million operating EBITDA. The challenges in new residential housing
are proving more persistent than anticipated, but focus remains on
executing on strategic priorities while seeing continued strength in the
renovation and infrastructure sectors, where demand remains robust. These
steps will support sustainable growth and position wienerberger for
stronger performance in the years ahead.
The year 2024 was marked by numerous changes, primarily driven by
geopolitical uncertainties and elections in the US and various European
countries. While the markets hit a low point during the year, wienerberger
is well-positioned to benefit from a more stable market environment and an
expected recovery in 2025.
For 2025, stronger market performance in new build is anticipated, driven
by the outcomes of the US election, initiatives by the EU Housing
Commission, and improving market conditions in the UK/Ireland and Eastern
Europe.
For the complete report on the third quarter of 2024, 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 build and
renovation, as well as infrastructure in water and energy management. With
more than 20,000 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 and a leading supplier of facade products
in North America. At the beginning of 2024, wienerberger successfully
completed the acquisition of Terreal, becoming the leading European
provider of innovative all-in roofing and solar solutions, as well as
solutions for the entire building envelope in Europe and North America.
With its more than 200 production sites, wienerberger generated revenues
of approx. € 4.2 billion and an operating EBITDA of € 811 million in 2023.
For further information, please contact:
Claudia Hajdinyak, Head of Corporate Communications Wienerberger AG
t +43 664 828 31 83 | claudia.hajdinyak@wienerberger.com
Therese Jandér, Senior Vice President Investor Relations Wienerberger AG
t +43 1 601 92 – 10221 | investor@wienerberger.com
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12.11.2024 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: 2027299
End of News EQS News Service
2027299 12.11.2024 CET/CEST
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