Wienerberger: 2020 earnings will be better than expected
- 2020 EBITDA (LFL) anticipated to reach € ~545 million (previously € 480-500 million), reflecting a stronger than expected performance throughout the fourth quarter
- Solid financial basis permits continuous growth through M&A
Despite renewed lockdowns and the prevailing market uncertainty, Wienerberger’s fourth quarter earnings at Group level have been highly satisfactory to date. Wienerberger benefited from its high-value product portfolio in diversified end markets, continued operational excellence measures as well as mild weather conditions in October and November. Given this strong performance, Wienerberger once again increases its guidance for the business year 2020. EBITDA (LFL) is expected to reach € ~545 million, exceeding the previous EBITDA target of € 480-500 million.
Heimo Scheuch, Chairman of the Managing Board of the Wienerberger Group, comments: “Despite renewed uncertainty in the markets following the recent corona lockdowns, our performance has been better than expected. This has been made possible by our continuous operational excellence efforts which progressed faster than anticipated and mild weather conditions which kept construction activities up and running.” Wienerberger will therefore continue to implement its operational excellence measures and the announced investments in innovation, digitalization and sustainability as planned. “This is how we create the prerequisites for further growth in 2021. We are well positioned for the year ahead, which will continue to be marked by Covid in the first half. However, Wienerberger will make every effort to deliver earnings close to pre-crisis levels in 2021”, adds Scheuch.
Strong basis for growth through M&A
Wienerberger is planning further value-accretive acquisitions and has identified potentials for next growth steps. The clear objective being to deepen the value generation within the company, to increase Wienerberger’s share in the entire building envelope, and to become a one-stop system provider for water and energy management infrastructure. In pursuing this goal, the Group intends to further consolidate its leading market position, boost its effectiveness in placing innovations on the market, and steadily increase its profitability.
During the crisis, we have gained in strength and successfully mastered the challenges confronting us. We have thus built a strong foundation and are now perfectly positioned to grow both organically and through acquisitions. Acting from this position of strength, we will be an active player in the continued consolidation of our industry and further advance in our pioneering role as a supplier of sustainable and smart solutions for the construction and infrastructure industry.