EQS-News: Full-year results 2023: wienerberger outperforms its end markets and meets expectations
Source: EQS
Full-year results 2023: wienerberger outperforms its end markets and meets expectations Highlights 2023
Strategy and outlook 2024
In light of the challenging market environment at the start of the year, the company intervened very quickly in the entire cost management process, contributing to the strong results. The established self-help program, aimed to increase earnings and improve efficiencies, also contributed € 46 million to the results. At the same time, technology optimizations were implemented that have led to a reduction in the company's energy consumption and thus, in addition to cost savings, to a reduction in CO2 emissions. These solid results once more demonstrate the resilience of wienerberger's sustainable and diversified business model, which has the necessary strength to successfully hold its own in difficult market environments. „In 2023 wienerberger once again outperformed its markets and successfully maintained its position generating an operating EBITDA of € 811 million, which is in line with our expectations. In terms of resilience, we have focused on a balanced portfolio by expanding the renovation and infrastructure segments. Also, our proactive cost management, innovation, and broad diversification in ecological new build, energy-efficient renovation as well as water and energy management are paying dividends. By enabling affordable housing, continuously improving people's quality of life and proactively responding to the challenges of climate change and its effects, wienerberger is becoming part of the solution and even more sustainable and successful,” says Performance of the Segments Europe West: In 2023, external revenues amounted to € 2.2 billion (2022: € 2.5 billion) and operating EBITDA came to € 378 million (2022: € 426 million). The 2023 financial year was characterized by persistently high inflation and rising interest rates. Demand fell in the new build segment, especially in Europe East: In 2023, external revenues amounted to € 838 million (2022: € 945 million) and operating EBITDA came to € 213 million (2022: € 223 million). In a sluggish market environment, wienerberger successfully increased market share and the operating EBITDA margin from 23.6% in 2022 to 25.5% in 2023 through proactive cost and price management. The long-term demand for residential space remains high level. Due to high level of interest rates, demand in 2023 was nevertheless subdued, especially in new build. In the infrastructure segment, the company recorded a significant increase in demand in the second half of 2023. Sustainability as a strategic and operational focus for business development Sustainability has always been an integral part of wienerberger's corporate strategy. Since the 2023 targets have been achieved, they have been renewed and upgraded for 2026. The new three-year wienerberger sustainability program extends the environmental and social topics, leveraging wienerberger's sustainability targets to organic growth, both within internal processes as well as assisting society with products supporting energy efficiency and climate resilience. It provides the right strategic and operational focus for sustainable business development complemented by the areas of revenue from products supporting net zero buildings, water and waste management as well as diversity and inclusion. By the end of 2026, wienerberger will see 75% of its revenue come from building products through the sale of products that support net zero buildings, such as integrated solutions for roofs, outer walls including façades, heating, cooling, and solar power generation. Dividend and 2024 Outlook Considering the strong results for 2023 and the company's attractive dividend policy, the Managing Board will propose to the Annual General Meeting that a dividend of € 0.90 per share be distributed for 2023. By acquiring In order to ensure high profitability, wienerberger intends to significantly outperform its markets in 2024 again, building on its innovative and ecological solutions for renovation, infrastructure and new build. The company will also continue to focus on proactive cost management, price over cost and the continuation of the self-help program. Assuming that the market development of the fourth quarter of 2023 will continue in 2024, particularly in the first half of the year, and that the earnings contributions from the
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Language: | English |
Company: | |
Wienerbergerplatz 1 | |
1100 |
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Phone: | +43 1 60 192-0 |
Fax: | +43 1 60 192-10159 |
E-mail: | investor@wienerberger.com |
Internet: | www.wienerberger.com |
ISIN: | AT0000831706 |
Listed: | |
EQS News ID: | 1841141 |
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1841141 21.02.2024 CET/CEST