Wienerberger (WIE) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenues rose 13% year-over-year to €1.4 billion, driven by 7% organic growth and 6% from acquisitions, despite a challenging residential market.

• H1 2026 revenue grew 4% to €2,434m, with operating EBITDA down 15% to €326m, impacted by cost inflation, weak residential demand, and a €47m antitrust settlement.

• Strategic transformation accelerated, with infrastructure and renovation now over 60% of group revenues, reducing cyclicality.

• Major acquisitions (Italcer and NEWS Group) completed in Q2 2026, strengthening positions in renovation and water management.

• CEO Heimo Scheuch stepped down for health reasons; Gerhard Hanke appointed Interim CEO, with a permanent search ongoing.

Financial highlights

• Q2 2026 revenues: €1,409m (+13% YoY); operating EBITDA: €230m (-9% YoY).

• H1 2026 revenues: €2,434m (+4% YoY); operating EBITDA: €326m (-15% YoY); EBIT: €60m (-70% YoY); EPS: €0.00.

• Gross margin for H1 2026 was 34.5%, down from 36.2% in H1 2025.

• Working capital increased 6% YoY to €1,407m as of June 30, 2026.

• Free cash flow was negative at €-203m, mainly due to higher working capital and acquisition spending.

Outlook and guidance

• Full-year 2026 operating EBITDA guidance set at €700m, reflecting continued weakness in residential new-build markets.

• Infrastructure and renovation markets expected to remain resilient; residential housing remains weak in key markets.

• Cost-saving program (Fit for Growth) to contribute €25m in 2026, with higher impact in H2.

• Net debt/EBITDA targeted at 2.8x by year-end, with a mid-term goal of 2.0x by end of 2027.

• Inflationary pressures expected to persist due to geopolitical conflict, with Q2 cost inflation at 7%.