In This Article:
-
Revenue: EUR1.1 billion, a 15% increase compared to the previous year's quarter.
-
Operating EBITDA: EUR130 million, a 13% increase from last year.
-
EBITDA Margin: Operating EBITDA margin remained consistent with the previous year's quarter.
-
Volume Increase: 5% overall, driven mainly by ceramics in Europe.
-
Western Europe Operating EBITDA: Increased by 48%, driven by higher renovation volumes and Terreal integration.
-
Eastern Europe Operating EBITDA: Increased by 24%, benefiting from increased volumes in new residential housing.
-
North America Operating EBITDA: Decreased by 34% due to severe weather conditions and production disruptions.
-
Working Capital to Revenue Ratio: Improved to 28% at the end of Q1, down from nearly 34% the previous year.
-
Net Debt: Targeting a reduction to 2 times net debt to operating EBITDA by year-end.
-
Share Buyback: EUR30 million shares repurchased and canceled between December 2024 and February 2025.
-
Full Year 2025 Guidance: Operating EBITDA target of EUR800 million, with an EBITDA margin expansion to 17.5%.
Release Date: May 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Wienerberger AG (WBRBF) reported a 15% increase in revenues for Q1 2025, reaching EUR1.1 billion.
-
Operating EBITDA grew by 13% to EUR130 million, aligning with company expectations.
-
The company benefited from strong demand in the European renovation market, particularly in the roofing segment.
-
The acquisition of Terreal contributed positively to sales and operating earnings.
-
Wienerberger AG (WBRBF) successfully completed a share buyback program, enhancing shareholder value.
Negative Points
-
The new residential housing market in North America suffered due to high interest rates and adverse weather conditions.
-
Higher than expected inflation costs, particularly in energy and raw materials, impacted financial performance.
-
The North American market faced a 34% decrease in operating EBITDA due to challenging conditions.
-
Political instability in some regions, such as Canada, affected market activity.
-
The company anticipates continued challenges in the US residential housing market due to persistent high interest rates.
Q & A Highlights
Q: Can you clarify the guidance for EUR800 million operating EBITDA and the impact of North American performance on this target? A: Heimo Scheuch, CEO, confirmed the guidance of EUR800 million, noting that while the US residential housing market is weaker than expected, European markets are performing better. The guidance is based on stable end markets and anticipated interest rate cuts.