Austria · Delayed Price · Currency is EUR Wienerberger AG Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw a 7% revenue decline and lower EBITDA due to severe weather, but volumes recovered in March and April. Full-year guidance is maintained, with cost inflation expected to rise and mitigation through price increases and cost discipline.
Fiscal Year 2025
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2025 saw stable profitability and strong cash flow despite market declines and cost inflation, with profit after tax nearly doubling and net debt reduced. 2026 guidance targets EUR 810 million EBITDA, including Italcer, amid flat markets and a one-off EUR 30 million energy cost.
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Operating EBITDA and revenue remained stable year-over-year despite sharp declines in new residential housing markets, with growth driven by renovation and infrastructure segments and strategic acquisitions. Cost inflation, especially in energy and labor, was managed through pricing discipline and efficiency programs.
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Revenue grew 6% year-over-year to EUR 2.3 billion, with robust margins despite cost inflation. Strong performance in renovation and infrastructure offset weakness in new residential housing, and full-year EBITDA guidance of EUR 800 million is reaffirmed.
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Q1 2025 delivered strong revenue and EBITDA growth, led by robust European performance and successful integration of Terrial, while North America lagged due to weak housing and adverse weather. Full-year guidance of EUR 800 million EBITDA is reaffirmed, contingent on stable markets and rate cuts.
Fiscal Year 2024
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Operating EBITDA reached EUR 760 million in 2024, with strong free cash flow and resilience from portfolio diversification. 2025 guidance targets EUR 800 million EBITDA and margin expansion, supported by stable infrastructure and renovation markets, and continued disciplined capital allocation.
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Revenue grew 9% in Q3, with EBITDA margin at 17% and strong free cash flow despite market headwinds. Integration of Terreal and cost-saving measures supported results, while outlook for 2025 is positive with expected EBITDA well above EUR 800 million.
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Revenue and EBITDA for H1 2024 were resilient despite weak residential markets, with strong cost management, strategic focus on renovation and infrastructure, and successful integration of Terreal. Full-year EBITDA guidance is EUR 800–820 million, with market recovery expected in 2025.