EANS-News: Wienerberger reports record half-year performance for 2021
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------
Financial Figures/Balance Sheet/Mid Year Results/Company Information
Vienna - Highlights
* Strongest half-year performance in Wienerberger's history
* Group revenues at EUR 1,867.5 million (+14%), surpassing previous highs
* Highest EBITDA LFL on record EUR 308.4 million (+21%)
Outlook for 2021
* Continuation of positive development forecast for all core markets
* EBITDA LFL for 2021 anticipated within a range of EUR 620 to 640 million
* Acquisition of FloPlast and Cork Plastics is another step towards our
transformation into a full-range provider of sustainable solutions
Further to the Q2 Trading Statement issued on July 5, 2021, Wienerberger reports
its final H1 2021 results, which are the Group's strongest mid-year results in
its history. In the first half of 2021, the Group achieved record revenues of
EUR 1,867.5 million, up by approximately 14% from the previous year's value (H1
2020: EUR 1,641.5 million), despite moderate developments in the core markets
and a slower return to pre-Covid levels. Wienerberger reported EBITDA LFL of EUR
308.4 million, corresponding to a 21% increase year-on-year (2020: EUR 254.1
million). Overall, the Group's performance surpassed the record values of the
first half of 2019 by a significant margin (revenues H1 2019: EUR 1,736.4
million, EBITDA EUR 295.7 million).
Heimo Scheuch, Chairman of the Managing Board of Wienerberger AG: "As our
outstanding mid-year results achieved in all three Business Units show, we have
emerged from the Covid-19 pandemic stronger than before. We have outperformed
the success of our previous record year in 2019 and continued the positive
trends of recent years."
In the first half of 2021, Wienerberger also took major strides forward in
implementing its ESG targets, which it considers a crucial component of its
future success. Heimo Scheuch explains: "Given the most recent manifestations of
climate change and torrential rainstorms in large parts of Europe, we continue
to pursue our sustainable growth strategy with a special focus on innovation,
sustainability and digitalization. With its innovative building material
solutions for new build and renovation, Wienerberger is making important
contributions to the enhancement of energy efficiency and water management. With
its smart infrastructure solutions, Wienerberger is actively contributing to
environmental protection, including helping to prevent flash floods in both
urban and rural regions."
Moreover, as the effects of climate change are becoming more noticeable, solid
construction methods and energy efficiency are becoming increasingly important.
Bricks are the ideal building materials for such criteria due to their ability
to regulate the indoor climate. Brick walls keep homes warm in winter and cool
in summer and are therefore sustainable and resource efficient.
Heimo Scheuch notes in conclusion: "Our record 2021 mid-year results are
attributable, not least, to our successful strategic orientation. In line with
past practice, the Wienerberger Group will continue to focus on growth in its
core markets and segments. The most recent acquisition of FloPlast in the UK and
Cork Plastics in Ireland strengthens our position in water management and
renovation. Based on our combined product portfolios, we are able to provide
smart and durable solutions in both fields of business."
Performance of the Wienerberger Business Units
Solid demand in new residential construction in Western Europe enabled
Wienerberger Building Solutions to offset more moderate growth in Eastern
Europe. Additionally, the Business Unit took advantage of intensive renovation
activities in all of its key markets. Overall, Wienerberger Building Solutions
delivered a stable performance, with revenues up by 10% to EUR 1,115.4 million
(H1 2020: EUR 1,014.4 million). EBITDA LFL of EUR 219.2 million significantly
exceeded the prior year period's level of EUR 184.4 million.
The second-quarter performance of Wienerberger Piping Solutions was marked by
exceptionally high sales volumes in all markets. Thanks to excellent supply
chain management and successful procurement initiatives, the Business Unit was
able to meet high demand from both infrastructure projects and the in-house
segment at all times strengthening its market position as a reliable partner,
despite challenging raw material prices and availability. Wienerberger Piping
Solutions reported a 21% revenue increase to EUR 569.7 million (H1 2020: EUR
470.3 million). EBITDA LFL improved by 13% to EUR 60.0 million (H1 2020: EUR 53
million).
The North America Business Unit continued to deliver strong growth, supported by
a positive market environment in new build and very high demand in the
infrastructure segment. Revenues grew by 16% to EUR 180.2 million (H1 2020: EUR
155 million), while EBITDA LFL matched its first-quarter level with another
historic record at EUR 29.2 million (H1 2020: EUR 16.8 million). Moreover,
Wienerberger continues to make good progress with the relevant authorities to
gain the required clearances for its acquisition of Meridian Brick, and
therefore expects the transaction to close in the third quarter of 2021.
Outlook for 2021
"Based on our strong performance in the first half of 2021, we anticipate a
positive second half of the year and therefore confirm the upward revision of
our guidance for EBITDA LFL to EUR 620 to EUR640 million for 2021, up from EUR
600 to EUR620 million", explains CEO Heimo Scheuch. The high sales volumes of
the first half of the year, especially in the infrastructure and renovation
markets, are expected to moderate to a certain extent in the second half.
Overall, Wienerberger foresees a continuation of the mostly positive development
of its three Business Units. "Additionally, value creation from our announced
acquisitions and the success of our ongoing transformation into a full-range
provider of smart system solutions, especially in energy and water management,
will continue to drive earnings growth in the second half of the year",
concludes Heimo Scheuch.
For the complete report on the first half of 2021, please refer to https://
www.wienerberger.com/en/investors/latest-results.html [https://
www.wienerberger.com/en/investors/latest-results.html]
Further inquiry note:
Claudia Hajdinyak, Head of Corporate Communications Wienerberger AG
t +43 664 828 31 83 | claudia.hajdinyak@wienerberger.com
Elisabeth Falkner, Head of Investor Relations Wienerberger AG
t +43 1 601 92 - 10221 | investor@wienerberger.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: Wienerberger AG
Wienerbergerplatz 1
A-1100 Wien
phone: +43 1 60 192-0
FAX: +43 1 60 192-10159
mail: office@wienerberger.com
WWW: www.wienerberger.com
ISIN: AT0000831706, AT0000A2GLA0
indexes: ATX
stockmarkets: Wien
language: English