Wienerberger (WIE) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue increased 15% to €1.1 billion, with operating EBITDA up 13% to €130 million, reflecting strong demand in European renovation and infrastructure, and resilience amid geopolitical and macroeconomic challenges.

• Integration of Terreal contributed €11 million to operating EBITDA and supported sales growth.

• Strong European performance offset weakness in new residential construction and North America, where adverse weather and high interest rates persisted.

• Share buyback completed, cancelling 2% of share capital and maintaining €1 billion liquidity reserve.

• Launched WIONIQ platform for smart, digital infrastructure solutions.

Financial highlights

• Revenue reached €1,099 million, up 15% year-over-year.

• Operating EBITDA rose 13% to €130 million, with margin at 11.8% (Q1 2024: 12.1%).

• Net result improved to €4.5 million from -€37 million in Q1 2024.

• Volume increased by 5%, with Europe up 6% and North America down 3%.

• Cost savings of €13 million achieved in Q1 2025.

Outlook and guidance

• Full-year 2025 operating EBITDA guidance of €800 million confirmed, assuming stable end markets and anticipated interest rate cuts.

• Targeted operating EBITDA margin of 17.5% for 2025.

• CapEx for 2025 set at €290 million, with maintenance CAPEX targeted at €160-180 million p.a.

• No direct major impact expected from new US tariffs.

• Potential peace talks in Ukraine could boost Eastern European construction activity, though not included in guidance.