Wienerberger Revenue Rises 8% to €1.263 Billion as EBITDA Falls 11%
Key Facts
Wienerberger said on November 12 that third-quarter 2026 revenue rose to €1.263 billion from €1.170 billion in the year-earlier period, while earnings before interest, taxes, depreciation and amortization fell to €180 million from €202 million, down 11% year on year. The company said weak demand and higher energy, raw-material and logistics costs weighed on results. The figures show a widening gap between sales growth and profitability, with revenue rising as operating earnings declined. The operating EBITDA margin also fell to 14.2% from 17.3% a year earlier. Chief Executive Gerhard Hanke said the results "reflect a market under considerable pressure, with persistently weak residential demand and rising costs continuing to weigh on profitability."
Revenue growth was supported by price increases of about 6% and contributions from acquisitions, particularly Italcer, according to the company statement. But total sales volumes fell 6% in the quarter, while the overall price effect rose 6%. In an October 6 update, the company said the seasonal pickup in construction activity in September after the summer holiday was weaker than expected, and that energy, raw-material and logistics costs had risen markedly since late August. In its results statement, it confirmed that the seasonal recovery after the summer fell short of expectations as cost inflation accelerated. Cost inflation was about 8%, according to estimates cited by an Investing.com report on the results announcement day, and price increases nearly offset it despite lower volumes.
Demand for new home construction remained weak, particularly in the United Kingdom, the United States and Canada, the company said. Renovation and infrastructure activities performed more steadily, but did not offset weakness in new residential construction. By region, Western Europe recorded revenue of €708 million and operating EBITDA of €94 million, compared with €671 million and €109 million, respectively, a year earlier. Eastern Europe revenue was €379 million, with operating EBITDA of €61 million, compared with €318 million and €62 million a year earlier. North America recorded revenue of €176 million and EBITDA of €25 million, compared with €181 million and €31 million in the year-earlier quarter. The comparison shows that revenue growth did not translate into uniform earnings improvement across regions.
For the first nine months of 2026, revenue rose to €3.697 billion from €3.515 billion, an increase of 5%, while operating EBITDA fell to €506 million from €584 million, down 13%. The group reported revenue of about €4.6 billion in 2025, operating EBITDA of €754 million and net profit of €168 million. In its annual report, the company said more than half of its revenue and earnings now come from its roofing and piping businesses, as it shifts toward infrastructure and renovation. In its October 6 update, the company cut its full-year operating EBITDA forecast to a range of €640–650 million, then confirmed that range with its third-quarter results. It also forecast quarterly revenue of €1.2–1.3 billion and EBITDA of €170–180 million; actual results came within both ranges.
Wienerberger outlined cost-cutting measures targeting recurring savings that would lift operating EBITDA by €140 million in 2029, with implementation to begin immediately and benefits to emerge gradually from 2027. The plan includes improving and consolidating procurement, increasing operational efficiency and reducing costs, as well as cutting administrative, selling and general expenses. The strategic review was launched in the October 6 update; on November 12, the company said it was close to completing the identification of performance-improvement measures and that its portfolio review was progressing. As part of the portfolio review and capital allocation, the company temporarily halted mergers and acquisitions, cut capital expenditure and began reviewing its dividend policy. The savings target remains a forward-looking plan tied to implementation of the measures, not an achieved result in the quarter.
Net debt stood at €2.4 billion on September 30, 2026, and the company is targeting a reduction to €2.2 billion by year-end. Wienerberger maintained its 2026 operating EBITDA forecast at €640–650 million, the range announced in its October update. An Investing.com report said quarterly revenue came in below analysts’ average estimate of €1.287 billion, while EBITDA beat analysts’ estimates by 1.6% and consensus estimates by 3.4%. The company’s website showed a share price of €16.81 on November 12 at 13:28, without the snapshot representing a measure of the change from the previous day’s close. The 2026 annual results are due to be published on February 17, 2027, followed by further details on the strategic review and 2027 outlook on March 4, 2027.