Wienerberger Posts Positive Interim Results
- 2% increase in revenues and 30% rise in adjusted EBITDA in the first quarter
- Implementation of strategic projects well on track
- Sale of paver business in Austria approved – first important step in the optimization of the business portfolio
- Successful bond placement of € 250 million
The Wienerberger Group got off to a dynamic start this year. With a 2% increase in revenues to € 675 million and a 30% rise in adjusted EBITDA to € 60 million in the first quarter of 2018, Wienerberger is on a growth trajectory. Due to restructuring costs, consolidated EBITDA came to € 44 million, slightly lower than in 2017.
Heimo Scheuch, CEO of Wienerberger AG, comments:
I am extremely satisfied with the good development in the first quarter. The performance in all our business areas is highly satisfactory. We are continuing our growth and are well on track with the implementation of all strategic projects. I am therefore particularly pleased that the sale of our concrete paver business in Austria has been approved by the competition authority. This is a first major step in the announced optimization of our business portfolio. All in all, we are well positioned - also with our new bond - to actively drive growth in all our areas of business.
The sale of Wienerberger’s concrete paver business in Austria was approved by the competition authority on April 13, 2018. The transaction includes the Austrian business operations of the Semmelrock Group, consisting of four production sites and the administrative headquarters in Klagenfurt, as well as the takeover of the workforce. The Closing is forseen for the beginning of May 2018. The sale is a first major step in the optimization of the business portfolio. Wienerberger Group expects to generate up to € 100 million through sales by the end of 2019.
On April 23, 2018, Wienerberger successfully concluded the placement of a new bond, in a volume of € 250 million, with institutional investors. The great interest in the bond and its highly successful placement show that investors appreciate the positive development of Wienerberger and the company’s strategic orientation.
This constitutes neither an offer to sell nor a solicitation to buy any securities (bonds) of Wienerberger AG. A public offer of bonds of Wienerberger AG is only made in Austria and Germany on the basis of the prospectus approved on April 16, 2018 by the Austrian Financial Market Authority, published and notified to the German Federal Financial Supervisory Authority on the same day and as supplemented, if required, which is available free of charge during ordinary business hours at Wienerberger AG, Wienerbergstraße 11, 1100 Vienna, Austria, and in electronic form on the website of Wienerberger AG (www.wienerberger.com).