Skip to content
Back
  • DE
  • EN
  • EN

wienerberger is one of the leading providers 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.

Get first-hand information about wienerberger. Here you can find everything you need to know about our shares, as well as our different business areas and financial dates.

You can find everything you need to know about wienerberger in our newsroom – ranging from press releases to news about the company, to photos and videos.

Discover the Wienerberger AG Corporate Blog and learn more about our commitment to innovation, ESG and people as we work together to build a sustainable future.

Environment, social topics, governance: Determined to assume responsibility for people and nature, wienerberger is pursuing ambitious ESG targets.

Trust, Respect, Passion & Creativity: These are the values that characterize wienerberger employees. Take this career opportunity and apply now!

    In focus

    Ship towing LLLD HDPE Pipes © Pipelife International

    Link to the Online Annual and Sustainability Report

    laptop, Woman typing with one hand, pencil in the left hand © Uwe Strasser

    wienerberger Newsletter

    man using laptop showing emagazine © MclittleStock / Adobe Stock

    wienerberger Job Portal

    Investors

    Communication with activist shareholders

    Letter to Petrus Advisers from February 6, 2019

    Dear Mr. Umek,

    Thank you for your letter dated January 31, 2019 and the document outlining your analysis in relation to the potential refinancing of our hybrid instrument.

    I agree that further decreasing the outstanding amount of our hybrid would be of benefit to Wienerberger providing we do this under the right conditions. As you know we have already taken various steps in the past to do so, either by a tender offer or on the open market.

    To do this we assess both the potential earnings impact and the net present value or internal rate of return (IRR) of any such transaction.

    Our calculation includes:

    • The premium that would be required to the prevailing market “ask” price, considering the size of the tender sought and the liquidity of the instrument subject to tender
    • Dealer manager costs
    • New debt issuance fees and related legal expenses
    • The likely interest costs associated with any new debt and
    • Any negative or positive tax implications that may arise (please note that the coupon payments on the hybrid instrument are fully tax deductible, as is the case with our senior bonds).

     

    Our present assessment of the market is that there is not enough appetite by bondholders to start a tender process at a reasonable extra cost and therefore, considering all aspects listed above, a tender offer for our hybrid instrument and the refinancing with a corporate bond will have a negative IRR and as a result does not create value.

    We will however continue our current policy to buy back the hybrid bond in the open market if we see opportunities with regards to pricing and volume (e.g. the partial buyback in 2016).

    As to our balance sheet we have to accommodate strong seasonal capital requirements and have sufficient flexibility to accommodate our growth. This should however not be prohibitive to further optimizing our balance sheet with partial hybrid buybacks if opportunities arise.

    We look forward to continuing our constructive dialogue and remain open to suggestions for improvements from all our shareholders.

     

    Best regards,

    Willy Van Riet

    CFO