Investor Relations

Results for the First Half-Year of 2019

IR Team
Investor Relations
Wienerberger AG
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Highlights


Best Half Year in the 200-Year History of the Company
  • Profitable growth through excellent operational performance and consistent implementation of the growth strategy
  • Revenues at new record level: € 1,736 million (+8%)
  • EBITDA LFL at all-time high of € 287 million (+33%)
  • Net profit doubled from € 53 million to € 127 million
  • Extremely strong contribution to earnings from Fast Forward program: € 25 million
 

Outlook for 2019

  • Annual guidance focused on strong EBITDA growth
  • EBITDA target for 2019 at € 570-580 million
  • Further investments in future-oriented solutions

Key Figures

Earnings Data

Earnings Data1-6/20191-6/2018Chg. in %Year-end 2018
Revenuesin MEUR1,736.41,606.9+83,305.1
EBITDA LFL 1)in MEUR286.6214.9+33-
EBITDAin MEUR295.7198.9+49442.6
EBITin MEUR181.5107.7+69239.8
Profit before taxin MEUR166.786.6+93195.3
Net resultin MEUR126.953.2>100133.5
Earnings per sharein EUR1.110.46>1001.15
Free cash flow 2)in MEUR-80.7-47.4-70236.5
Normal capexin MEUR68.560.7+13166.3
Growth capex 3)in MEUR47.260.9-22158.9
Ø Employeesin FTE16,96316,652+216,596

Balance Sheet Data

Balance Sheet Data30/6/201931/12/2018Chg. in %
Equity 4)in MEUR1,980.41,939.1+2
Net debtin MEUR982.3631.6+56
Capital employedin MEUR2,926.82,536.7+15
Total assetsin MEUR4,074.03,742.9+9
Gearingin %49.632.6-

Stock Exchange Data

Stock Exchange Data1-6/20191-12/2018Chg. in %
Share price highin EUR21.8224.06-9
Share price lowin EUR18.1017.57+3
Share price at end of periodin EUR21.7018.00+21
Shares outstanding (weighted) 5)in 1,000114,585116,154-1
Market capitalization at end of periodin MEUR2,524.82,115.5+19

Business Units

Business Units 1-6/2019 in MEURWBSWPSNorth AmericaGroup eliminationsWB Group
External revenues1,074.1497.0164.91,736.0
Inter-company revenues0.40.10.0-0.10.3
Revenues1,074.5497.1164.9-0.11,736.4
EBITDA LFL 1)219.151.715.8286.6
EBITDA221.751.122.8295.7
EBIT147.326.28.0181.5
Capital employed1,896.3600.4430.12,926.8
Total investments89.020.16.7115.8
Ø Employees (in FTE)12,1713,3121,48016,963

Operating Segments

Wienerberger Building Solutions

WBS1-6/20191-6/2018Chg. in %
External revenuesin MEUR1,074.1978.4+10
EBITDA LFL 1)in MEUR219.1160.5+37
EBITDAin MEUR221.7156.8+41
EBITin MEUR147.397.8+51
Capital employedin MEUR1,896.31,719.2+10
Total investmentsin MEUR89.098.6-10
Ø Employeesin FTE12,17111,944+2

Wienerberger Piping Solutions

WPS1-6/20191-6/2018Chg. in %
External revenuesin MEUR497.0478.5+4
EBITDA LFL 1)in MEUR51.735.2+47
EBITDAin MEUR51.120.7>100
EBITin MEUR26.20.4>100
Capital employedin MEUR600.4505.3+19
Total investmentsin MEUR20.118.1+11
Ø Employeesin FTE3,3123,3060

North America

North America1-6/20191-6/2018Chg. in %
External revenuesin MEUR164.9149.3+10
EBITDA LFL 1)in MEUR15.819.3-18
EBITDAin MEUR22.821.4+7
EBITin MEUR8.09.6-17
Capital employedin MEUR430.1387.6+11
Total investmentsin MEUR6.74.8+38
Ø Employeesin FTE1,4801,402+6

Group Accounts

Income Statement

in TEUR4-6/20194-6/20181-6/20191-6/2018
Revenues959,629931,8151,736,3791,606,874
Cost of goods sold-605,914-594,578-1,111,824-1,056,036
Gross profit353,715337,237624,555550,838
Selling expenses-172,921-169,908-326,259-313,651
Administrative expenses-54,097-53,033-112,036-105,732
Other operating income:
Reversal of impairment charges to assets028603,500
Other13,14911,39616,93621,677
Other operating expenses-11,372-19,610-21,670-48,922
Operating profit/loss (EBIT)128,474106,368181,526107,710
Income from investments in associates and joint ventures1,6291,323691470
Interest and similar income7751,3701,4882,710
Interest and similar expenses-10,482-11,308-20,558-21,571
Other financial result3,250-1,8243,571-2,719
Financial result-4,828-10,439-14,808-21,110
Profit/loss before tax123,64695,929166,71886,600
Income taxes-19,964-19,724-32,921-27,103
Profit/loss after tax103,68276,205133,79759,497
Thereof attributable to non-controlling interests18156200-421
Thereof attributable to hybrid capital holders3,3233,3936,6576,749
Thereof attributable to equity holders of the parent company100,17872,756126,94053,169
Earnings per share (in EUR)0.870.631.110.46
Diluted earnings per share (in EUR)0.870.631.110.46

Balance Sheet

in TEUR30/6/201931/12/2018
Assets
Intangible assets and goodwill729,823712,719
Property, plant and equipment1,747,5051,575,709
Investment property66,62766,569
Investments in associates and joint ventures22,78822,100
Other financial investments and non-current receivables31,20830,420
Deferred tax assets51,88554,076
Non-current assets2,649,8362,461,593
Inventories820,594761,659
Trade receivables366,577215,838
Receivables from current taxes13,6504,144
Other current receivables80,45192,436
Securities and other financial assets43,74842,812
Cash and cash equivalents99,104163,080
Current assets1,424,1241,279,969
Non-current assets held for sale01,348
Total assets4,073,9603,742,910
Equity and liabilities
Issued capital116,352117,527
Share premium1,058,9461,075,422
Hybrid capital259,576265,969
Retained earnings 817,364760,389
Other reserves-237,259-230,955
Treasury stock-35,125-49,858
Controlling interests1,979,8541,938,494
Non-controlling interests572586
Equity1,980,4261,939,080
Deferred taxes80,34975,021
Employee-related provisions150,550136,432
Other non-current provisions81,89983,622
Long-term financial liabilities510,519710,590
Other non-current liabilities2,7602,793
Non-current provisions and liabilities826,0771,008,458
Current provisions38,13051,924
Payables for current taxes17,12822,531
Short-term financial liabilities614,657126,907
Trade payables294,958326,890
Other current liabilities302,584267,120
Current provisions and liabilities1,267,457795,372
Total equity and liabilities4,073,9603,742,910

Cash Flow Statement

in TEUR1-6/20191-6/2018
Profit/loss before tax166,71886,600
Depreciation and amortization113,28290,699
Impairment charges to assets and other valuation effects-2,17812,251
Reversal of impairment charges to assets0-3,500
Increase/decrease in non-current provisions-4,932-5,656
Income from investments in associates and joint ventures-691-470
Gains/losses from the disposal of fixed and financial assets-3,891-11,416
Interest result19,07018,861
Interest paid-26,540-22,276
Interest received408452
Income taxes paid-45,828-32,928
Gross cash flow215,418132,617
Increase/decrease in inventories-55,925-49,819
Increase/decrease in trade receivables-145,306-153,987
Increase/decrease in trade payables-35,163-40,587
Increase/decrease in other net current assets26,14050,854
Cash flow from operating activities5,164-60,922
Proceeds from the sale of assets (including financial assets)5,62029,785
Payments made for property, plant and equipment and intangible assets-82,316-69,490
Dividend payments from associates and joint ventures03,039
Increase/decrease in securities and other financial assets-3,33620,469
Net payments made for the acquisition of companies-33,458-21,995
Net proceeds from the sale of companies020,929
Cash flow from investing activities-113,490-17,263
Cash inflows from the increase in short-term financial liabilities330,516215,533
Cash outflows from the repayment of short-term financial liabilities-186,194-144,232
Cash inflows from the increase in long-term financial liabilities658247,451
Cash outflows from the repayment of long-term financial liabilities-205-122
Cash outflows from the repayment of lease liabilities-19,6010
Dividends paid by Wienerberger AG-57,291-34,812
Hybrid coupon paid-13,645-13,609
Buyback hybrid capital-6,9070
Dividends paid to non-controlling interests-219-120
Purchase of non-controlling interests0-30,100
Purchase of treasury stock-2,918-22,350
Cash flow from financing activities44,194217,639
Change in cash and cash equivalents-64,132139,454
Effects of exchange rate fluctuations on cash held156-158
Cash and cash equivalents at the beginning of the year163,080169,259
Cash and cash equivalents at the end of the period99,104308,555
Our reports are produced in-house using firesys