Moody’s affirms Wienerberger’s Ba1 rating and changes outlook from stable to positive
Vienna – Moody’s rating action reflects Wienerberger’s strong performance in 2021 that continued in the first quarter 2022. Despite the challenging market environment, Wienerberger gained substantial additional revenue, generated a strong free cash flow and successfully expanded its EBITDA margin.
Wienerberger’s rating is supported by the ongoing transformation of its business model. The Group has already successfully reduced its cyclicality by lowering the revenue share of new build construction from 65% to 49% over the last 10 years. In addition, Wienerberger targets a further reduction of the newbuild segment to 40% until 2030 while expanding even more strongly into the growth markets of renovation and infrastructure.
Furthermore, Moody’s recognized Wienerberger’s long-term energy forward buying strategy, strong market positions, healthy leverage ratio and improved diversification.
Wienerberger appreciates the change in Moody's outlook from stable to positive, reflecting the transformation of our business model towards enhanced resilience and improved profitability by continuously focusing on ESG, innovation and Operational Excellence.