Wienerberger strategy 2023 Highlights


  • 2023: € 135 mn self help improvement package
  • Execution of ambitious ESG targets
  • Increased exposure to renovation and infrastructure

Wienerberger Strategy 2023: Strong Foundations for Sustainable Growth

Operational Excellence, Innovation & Digitalization, ESG as well as M&A and Portfolio Optimization are Wienerberger's key drivers for sustainable growth. Read on and find out more about our mid-term targets and strategy for 2023.

Since the foundation of Wienerberger back in 1819 our mission has been to improve people’s quality of life by providing outstanding, sustainable building material and infrastructure solutions. This conviction constitutes the groundwork for a sustainable increase in the value of the company in accordance with ecological, social and economic principles and has transformed Wienerberger into the resilient, diversified and innovative business it is today. 

Our main commercial objectives are to increase our value creation within the house, to become a full system solutions provider in Energy & Water Management, and to strengthen our market position in North America. In order to achieve these goals we focus our strategy on four key enablers: ESG, Innovation & Digitalization, M&A and Portfolio Optimization and Operational Excellence.

We base our commercial development on key underlying mega trends

Wienerberger aligned its goals for 2023 to meet the demands of several decisive trends in our industry:

  • Lack of skilled labor: The construction industry faces skill shortages and the need for guaranteed “on-time in-full” construction delivery.
  • Healthy Living: Indoor air quality has an important impact on human health, as we spend 90% of our time indoors.
  • Impact of climate change on water management: Climate change creates more unpredictable weather conditions, leading to both water scarcity and floods.
  • Energy Transition: Transition from fossil-based to renewable energy supported by the European Green Deal.


Our four key enablers help addressing changes driven by mega trends and support the sustainable growth of our business as well as the consolidation of our industry

Operational Excellence measures will further enhance our performance

Operational Excellence has always been part of our strategy thus our Fast Forward methodology to continuously enhance the Group’s performance is meant to stay. We aim to implement further optimization measures across the Group after the Fast Forward program delivery and opt for € 70 mn incremental EBITDA contribution to be delivered between 2021-2023.


Innovation & Digitalization will become an even more indispensable attribute of our product portfolio

We continuously drive the decarbonization and recyclability of the product portfolio with new product design and continue the transformation journey to a full system provider. Furthermore, we will expand our system solutions with (digital) services and enter the field of new energy solutions (e.g. hydrogen). In order to implement these innovations, we will dedicate Special capex investments which will result in an incremental EBITDA contribution of € 45 mn until 2023.


ESG performance will improve further through dedicated investments

Wienerberger strongly believes in the importance of a sustainable future and commits to a designated ESG capex of € 60 mn p.a. from 2021-2023. During this time period we will do our utmost in implementing the following measures:

  • Continuous upgrade of our industrial set-up and drive automation and specialization
  • Roll-out of existing technologies to reduce energy demand and CO2e emissions
  • Use new technologies to build model plants with a significantly lower CO2e footprint
  • Expand green energy sourcing across the whole Group
  • Enhance biodiversity across all our production sites

These dedicated ESG investments will generate € 20 mn incremental EBITDA contribution until 2023 (explanatory note: CO2 cost benefits are not considered).


M&A and Portfolio Optimization continuously drive performance

We can look back on a strong M&A track record combined with substantial financial headroom, which will drive further value-creating deals in the coming years. We regularly review our portfolio of businesses with regards to strategic fit, growth prospects and profitability. If an operating asset does not meet these expectations, we initiate a structured sales process. Disposals of operating and non-operating assets will result in a total of € 50 – 60 mn of value / cash proceeds until 2023. 

Developments in recent months have confirmed the strength of our Group. With our Strategy 2023, we are now moving forward, building on this strong foundation. We are therefore very well positioned to grow organically and further advance our pioneering role by offering sustainable and smart solutions to the construction industry. At the same time, we will take advantage of opportunities for acquisitions and thus play an active role in the consolidation of our industry.

Heimo Scheuch


Our targets for 2023

We’ve set clear targets for the coming years to take full advantage of Wienerberger’s resilient business model and sustainable growth potential. 

Financial targets: maintaining Wienerberger's success course

  • EBITDA target: By 2023, we will deliver additional € 135 mn EBITDA from purely self-help measures, excluding any upside potential from market recovery and future contributions from M&A. 
  • Net debt: With our strict financial discipline we aim to achieve a net debt/EBITDA below 2.0x. If the upside potential convinces us to increase growth investment, this threshold may be allowed to increase to 2.5x in the short term.
  • Dividends: We have a clear dividend policy, which states that we continuously distribute 20% - 40% of free cash flow by means of a progressive dividend and share buybacks. 

Non-financial targets: continuing our sustainability commitment in line with the EU Green Deal 

We currently are on the home stretch of our Sustainability Roadmap 2020, which includes targets for employees, products & production, recyclability and social responsibility. Yet, we are committed to NET ZERO GHG emissions in accordance with the EU Green Deal by 2050, which motivated us to take further responsibility to ensure that future generations have the same opportunities as we have today. Therefore, we have set clear targets for 2023:


  • Climate Protection: 15% less CO2e emission vs. 2020
  • Circular Economy: 100% of new products will be designed in a way that they are recyclable or reusable
  • Biodiversity: Biodiversity program for all our sites in place


  • Diversity: >15% female employees in senior management and >30% female employees in white collar positions
  • Training and Development: +10% more training hours per employee
  • CSR Projects: 200 housing units per year built with our products for people in need in our local markets


  • Committed to highest national and international standards and with focus on business strategy, board diversity and composition, executive compensation and succession management

Capex Allocation 2021 - 2023

In order to reach these ambitious objectives, we have dedicated investments which will contribute EBITDA of € 135 mn until 2023:

Capex Allocation  
Maintenance capex € 120 mn p.a.
Special capex € 80 mn p.a.
ESG capex € 60 mn. p.a.
M&A No Guidance

Further Information

Businessman and woman in office shaking hands

Investment Case

Annual Report 2019

Wienerberger Management