Wienerberger AG

Quarterly Report • Nov 9, 2016

Next Generation

On track

Earnings Data		1-9/2015	1-9/2016	Chg. in %	Year-end 2015
Revenues	in € mill.	2,283.3	2,279.7	0	2,972.4
Operating EBITDA	in € mill.	293.4	302.6	+3	369.7
Operating EBIT	in € mill.	142.4	154.3	+8	167.6
Profit before tax	in € mill.	87.3	130.3	+49	107.0
Net result	in € mill.	23.3	68.7	>100	36.5
Earnings per share	in €	0.20	0.59	>100	0.31
Free cash flow 1)	in € mill.	6.2	69.2	>100	135.1
Normal capex	in € mill.	78.8	80.4	+2	137.7
Growth capex	in € mill.	6.3	30.6	>100	10.1

Balance Sheet Data		31/12/2015	30/9/2016	Chg. in %
Equity 2)	in € mill.	2,054.2	2,048.4	0
Net debt	in € mill.	534.1	550.0	+3
Capital employed	in € mill.	2,569.9	2,579.0	0
Total assets	in € mill.	3,691.6	3,705.2	0
Gearing	in %	26.0	26.8	-
Ø Employees	in FTE	15,813	15,991	+1

Stock Exchange Data		1-12/2015	1-9/2016	Chg. in %
Share price high	in €	17.83	17.54	-2
Share price low	in €	11.45	11.94	+4
Share price at end of period	in €	17.09	15.12	-12
Shares outstanding (weighted) 3)	in 1,000	116,956	116,956	0
Market capitalization at end of period	in € mill.	2,008.5	1,776.4	-12

Divisions 1-9/2016 in € mill. and % 4)		Clay Building Materials Europe	Europe	Pipes & Pavers		North America		Holding & Others	Reconciliation
External revenues	1,277.8	(+2%)	772.8	(-5%)	220.3	(+5%)	6.6	(+16%)
Inter-company revenues	2.7	(>100%)	0.9	(-8%)	0.6	(-83%)	9.9	(+8%)	-11.9
Revenues	1,280.5	(+2%)	773.7	(-5%)	220.9	(+3%)	16.5	(+11%)	-11.9
Operating EBITDA	216.9	(+15%)	83.2	(-10%)	17.5	(-34%)	-15.0	(-6%)
Operating EBIT	125.2	(+34%)	48.7	(-15%)	-2.8	(<-100%)	-16.8	(-1%)
Total investments	58.6	(+21%)	40.7	(+47%)	9.2	(+19%)	2.4	(+93%)
Capital employed 5)	1,623.1	(-5%)	619.8	(+6%)	343.1	(-8%)	-7.0	(<-100%)
Ø Employees	10,324	(+1%)	4,197	(+1%)	1,264	(-2%)	206	(0%)

1) Cash flow from operating activities less cash flow from investing activities plus growth capex

2) Equity including non-controlling interests and hybrid capital

3) Adjusted for treasury stock

4) Changes in % to the comparable prior year period are shown in brackets

5) Due to the correction of an error, which required additional impairments to be booked for 2014, this figure for the period from January 1 to September 30, 2015, was restated

Explanatory notes to the report:

– Operating EBITDA and operating EBIT are adjusted for non-recurring income and expenses.

– Rounding differences may arise from the automatic processing of data.

Letter from the CEO

Dear Shareholders,

From July to September, the performance of the Wienerberger Group was in line with our expectations. We are particularly satisfied to note that since the beginning of the year we have succeeded in increasing our net profit significantly to € 69 million, as compared with € 23 million in the previous year. This shows that we are well on track, despite some challenging areas, such as the infrastructure markets in Eastern Europe.

Overall, revenues at Group level remained nearly stable at € 2.3 billion. Adjusted for negative foreign exchange effects, primarily from the British pound, we generated 1% revenue growth. This was mainly a result of a moderate increase in sales volumes and slightly improved prices. The Group's EBITDA grew organically by 9%, but foreign currency effects depressed our earnings by € 9.5 million. Moreover, the contribution to earnings resulting from the sale of noncore real estate was substantially lower than in 2015. Against this background, operating EBITDA came to € 303 million, up by 3% from the previous year.

As regards the developments in our markets, the general trends seen during the first six months of the year continued throughout the period from July through September. The performance of residential construction markets in Eastern Europe remained strong during the third quarter. The German, Dutch and French housing markets were growing and we saw a satisfactory level of product deliveries in Belgium. In the UK, brick shipments were above those of last year's reporting period and our local roofing business also performed better than in 2015. The renovation market, which is particularly important for our Continental roofing business, was weaker throughout Europe, as compared to the previous year. In total, the Clay Building Materials Europe Division generated revenues of € 1.3 billion in the first nine months, a 2% increase compared to the same period in 2015. Operating EBITDA improved significantly to € 217 million, which corresponds to a 15% rise. The Pipes & Pavers Europe Division, faced with weak order intake both for infrastructure projects in Eastern Europe and in the international project business of our plastic pipe operations, was unable to match the previous year's result. Markets in the Nordics, the Netherlands and in Austria, however, have seen a satisfactory development. Overall, revenues declined by 5% to € 773 million and operating EBITDA dropped by 10% to € 83 million. Performance in the US brick business and our activities in Canada remained highly satisfactory. Revenues generated by the North America Division grew by 5% to € 220 million. Despite strong organic growth, EBITDA stayed below the previous year's level, amounting to € 18 million, due to significantly lower profit contributions from the sale of real estate.

We are confident that due to our efforts based on our strategic pillars - innovation, optimization and diversification - the Wienerberger Group will realize its ambitious earnings targets for 2016.

Heimo Scheuch, Chairman of the Managing Board of Wienerberger AG

Interim Management Report

FINANCIAL REVIEW

Earnings During the first three quarters of 2016, Wienerberger's revenues at Group level remained nearly stable at € 2,279.7 million (2015: € 2,283.3 million). While the Group recorded slightly higher volumes and increased prices to cover cost inflation, negative foreign effects, which amounted to € 46.9 million, burdened the development of revenues. Adjusted for foreign exchange effects and changes in the scope of consolidation, revenues grew organically by about 1%.

Despite negative foreign exchange effects, the Clay Building Materials Europe Division generated external revenues of € 1,227.8 million in the first nine months of the year, up by 2% from the previous year's period, mainly as a result of a moderate increase in sales volumes and slightly improved prices. Operating EBITDA increased significantly by 15% to € 216.9 million, which was primarily due to the favorable impact of lower energy prices on production costs. The improvement was particularly strong in Eastern Europe, with revenues up by 8% and operating EBITDA 27% above the previous year's level. In Western Europe, external revenues remained nearly constant, while operating EBITDA increased by a satisfactory 9%.

The Pipes & Pavers Europe Division reported a 5% drop in external revenues to € 772.8 million (2015: € 816.5 million) in the first nine months of the year. This development was primarily due to delays in the award of contracts for public-sector projects in Eastern Europe, a situation that impacted business performance in all the Division's business areas. Moreover, as expected, the lower volume of orders received for international projects led to a drop in earnings in our plastic pipe operations. Overall, the Division's operating EBITDA declined by 10% from the previous year's level to € 83.2 million.

External revenues of the North America Division totaled € 220.3 million, an improvement by 5%. This development was primarily due to a significant increase in sales volumes in the American brick business as well as higher sales and improved prices in Canada. The North American plastic pipe business was unable to match the previous year's result on account of growing pressure from competitors. Altogether, the Division's operating EBITDA amounted to € 17.5 million and was below the previous year´s level of € 26.7 million. Adjusted for the costs of the closure of a production site and a lower contribution to earnings from the sale of non-core real estate, the North America Division recorded a significant organic improvement of earnings by 25%.

At Group level, the nine-month operating EBITDA increased over the previous year's level (€ 293.4 million) to € 302.6 million. It is important to note that results from the sale of non-core real estate, amounting to € 4.5 million, were significantly lower than the year before (€ 15.8 million). Moreover, negative foreign exchange effects of € 9.5 million depressed the operating result. Adjusted for these effects as well as for changes in the scope of consolidation and the costs of structural adjustments incurred in the comparable period of the year before, Wienerberger generated 9% organic earnings growth. The operating result before interest and taxes (operating EBIT) increased by 8% to € 154.3 million (2015: € 142.4 million), with depreciation and amortization slightly below the previous year's level.

The significantly improved financial result of € -24.0 million (2015: € -44.9 million) consisted of net interest expenses of € -25.1 million (2015: € -32.4 million), which were substantially lower than in the previous year due to optimized utilization of bank lines and the

1% organic revenue growth

9% organic

EBITDA growth

reduced average liquidity position, income from investments in associates in the amount of € 5.2 million (2015: € 1.6 million), and other financial result in a total amount of € -4.1 million (2015: € -14.2 million).

The pre-tax result improved significantly to € 130.3 million in the first three quarters of the year (2015: € 87.3 million). After taxes, non-controlling interest and the pro-rata hybrid coupon, Wienerberger generated a net profit of € 68.7 million (2015: € 23.3 million). Consequently, earnings per share rose substantially to € 0.59, as compared to € 0.20 in the previous year's period.

Cash flow Owing to the higher pre-tax result and reduced interest payments, gross cash flow in the reporting period was significantly above the previous year's level at € 258.4 million (2015: € 217.2 million). Working capital optimization resulted in an improvement of cash flow from operating activities, which rose by € 62.7 million to € 138.9 million.

During the first nine months of the year, a total amount of € 98.0 million (2015: € 85.1 million) was spent on maintenance, technological improvements to production processes and plant expansions. Cash outflow for acquisitions amounted to € 12.9 million. Proceeds from sales of real estate and other non-current assets came to € 11.9 million (2015: € 19.3 million), the major part being accounted for by the program for the disposal of non-core assets. Cash flow from financing activities amounted to € -71.5 million in the first nine months of the year, mainly resulting from the payment of the dividend and the hybrid coupon.

Assets and financial position As at 30/9/2016, the Group's equity amounted to € 2,048.4 million, down slightly by € 5.8 million from the 2015 year-end value. Comprehensive income after tax increased the Group's equity by € 56.0 million despite negative foreign exchange effects and actuarial losses from pension and severance obligations. However, payment of the dividend, the hybrid coupon and the partial buyback of hybrid bonds decreased equity by € 61.9 million. As at the reporting date, the Group's net debt of € 550.0 million was still slightly above the 2015 year-end value (€ 534.1 million) for seasonal reasons.

Financing and treasury The reduction of working capital brought the Group's gearing down to 27% as at 30/9/2016 (32% as at 30/9/2015). The treasury ratios, calculated on a 12-month basis, of 1.5 years for the debt repayment period (net debt / operating EBITDA) and 10.8 for interest coverage (operating EBITDA / interest result) were, respectively, comfortably below and above the limits set by the bank covenants and significantly better than those for the same period of the previous year. Wienerberger's financial management continues to focus primarily on optimizing the interest result, while preserving a strong liquidity position. Financial liabilities maturing in the fourth quarter will be redeemed from the cash flow.

Treasury Ratios 1)	30/9/2015	31/12/2015	30/9/2016	Covenant
Net debt / operating EBITDA	1.8	1.4	1.5	<3.50
Operating EBITDA / Interest result	8.1	8.7	10.8	>3.75

1) Calculated on the basis of 12-month operating EBITDA and 12-month interest result

Earnings per share of € 0.59, compared to € 0.20 the previous year

Gross cash flow above previous year's level

Debt repayment period of 1.5 years as at 30/9/2016

Third Quarter of 2016 In the third quarter of 2016, the Group's external revenues, in the amount of € 809.7 million, remained stable at the previous year's level. Adjusted for foreign exchange and consolidation effects, we recorded a slight growth of 2%. Compared with the previous year, the Group's operating EBITDA improved by 11% to € 124.3 million. This satisfactory development was due, above all, to a significant increase in earnings generated by our European and North American brick business, which more than offset the declining operating EBITDA in the Pipes & Pavers Europe Division. The downturn of business in pipes and concrete pavers was due, in particular, to massive delays in the award of public infrastructure contracts in Eastern Europe and the lower contribution to earnings from the international project business of our plastic pipe operations.

The Clay Building Materials Europe Division reported a 2% increase in revenues to € 459.6 million and a substantial rise in operating EBITDA by 21% to € 92.1 million. In the Clay Building Materials Eastern Europe segment we benefited from the pickup of the residential construction market in the region and were able to further increase our sales of clay blocks and roof tiles. Combined with slightly improved average prices, these developments led to a significantly higher operating result. The only market showing a strong downward trend was Russia, where the recession of the economy had a negative impact on residential construction. Overall, the Clay Building Materials Eastern Europe segment recorded 7% growth in revenues to € 154.7 million and a significant rise in operating EBITDA by 10% to € 37.6 million, compared with the same period in 2015.

As regards our Western European brick operations, revenues generated by the segment remained nearly stable at € 305.0 million, whereas operating EBITDA increased steeply by 30% to € 54.4 million. Healthy market growth in the Netherlands and France resulted in higher sales volumes and improved earnings. In Great Britain, the vote against remaining in the EU had no substantial short-term impact on the market; projects continued to be implemented as planned. With inventories in the supply chain returning to normal, we saw higher sales volumes during the past three months. Thus, Great Britain's declining contribution to the Group's earnings has been primarily due to the steep devaluation of the British pound and higher costs of idle capacity. In Belgium, sales volumes remained slightly below the previous year's level, with higher average prices. In Germany, the rising number of new housing starts continued to compensate the weakness of the renovation market. Moreover, our business in Germany benefited from savings achieved through structural adjustments and from the absence of one-off expenses, which had depressed earnings by approx. € 6 million in the same period of the previous year.

Pipes & Pavers Europe

The Pipes & Pavers Europe Division saw its third quarter operating result decline in both reporting segments. In total, the Division's revenues decreased by 2% to € 268.9 million and operating EBITDA dropped by 14% to € 30.3 million. On the positive side, revenues and earnings increased in our Western European plastic pipe business, as we continued to benefit from a satisfactory development of business in the Nordic core markets and a contribution to earnings from the Finnish competitor in which we had acquired the majority stake at the beginning of the year. Together with strong demand and a favorable product mix in the Netherlands, these developments allowed us to offset the expected drop in earnings in our international project business. Our ceramic pipe business saw earnings decline significantly due to a notable slowdown in the demand for infrastructure solutions in our export markets in Eastern Europe and the Middle East. The downward trend of sales in our German home market

Operating EBITDA at Group level improved by 11%

Clay Building Materials Europe continued as well. Altogether, the Pipes & Pavers Western Europe segment recorded approximately stable revenues at € 151.2 million and a 15% drop in earnings to € 17.1 million.

The development of business in the Pipes & Pavers Eastern Europe segment was marked by massive delays in the award of contracts for public infrastructure projects in the first half of the year; tendering activities did not pick up over the summer months, either. Due to sluggish demand, earnings in our plastic pipe and concrete paver operations fell short of the previous year's level. In total, the segment recorded a 7% drop in revenues to € 117.7 million and a 13% drop in operating EBITDA to € 13.2 million.

In the North America Division, revenues remained stable at € 78.9 million, whereas operating EBITDA increased by 10% to € 6.7 million. Our North American brick business again generated a moderate increase in revenues and significant earnings growth in the third quarter. We saw sales volumes go up noticeably in the growing US housing market, and we achieved higher sales volumes at higher average prices in Canada. In contrast, the North American plastic pipe business continued to weigh on the business performance of the Division. Intensifying competitive pressure and sluggish demand resulted in a drop in pipe sales and had a negative impact on pricing.

Chg. in%
in%
+2
+7
-1
-2
-7
+1
+1
+15
0

Operating EBITDA	7-9/2015	7-9/2016	Chg. in%
	in € mill.	in € mill.	in%
Clay Building Materials Europe	76.0	92.1	+21
Clay Building Materials Eastern Europe	34.1	37.6	+10
Clay Building Materials Western Europe	41.9	54.4	+30
Pipes & Pavers Europe	35.3	30.3	-14
Pipes & Pavers Eastern Europe	15.1	13.2	-13
Pipes & Pavers Western Europe	20.2	17.1	-15
North America	6.1	6.7	+10
Holding & Others	-4.9	-4.8	+4
Wienerberger Group	112.5	124.3	+11

OPERATING SEGMENTS

Clay Building Materials Europe Residential construction in Europe was marked by regional differences and increased slightly during the first nine months of 2016. In this market environment, we succeeded in increasing our sales at stable average prices in all product groups. Overall, the Clay Building Materials Europe Division generated revenues of € 1,277.8 million, up by 2% compared to the same period in the previous year. Operating EBITDA increased significantly by 15% to € 216.9 million.

Clay Building Materials Europe		1-9/2015	1-9/2016	Chg. in%
External revenues	in € mill.	1,250.4	1,277.8	+2
Operating EBITDA	in € mill.	188.9	216.9	+15
Operating EBIT	in € mill.	93.4	125.2	+34
Total investments	in € mill.	48.4	58.6	+21
Capital Employed 1)	in € mill.	1,717.2	1,623.1	-5
Ø Employees	in FTE	10,219	10,324	+1

1)Due to the correction of an error, which required additional impairments to be booked for 2014, capital employed as at September 30, 2015 was restated.

Considering the business year as a whole we expect to see a continuation of the slightly positive trend in residential construction in Europe. While we maintain our positive assessment of the market environment in almost all the countries of Eastern Europe, we see strongly diverging developments in Western Europe. In Great Britain, given the atmosphere of uncertainty in the wake of the country's decision to leave the European Union, we expect muted market developments. In Belgium as well, new housing starts will be below the previous year's level, although an increase in the number of building permits issued was seen in the third quarter. In both markets, we are focusing on inventory optimization and are adjusting our production capacities to market conditions. However, the lower level of production and the resulting costs of idle capacity will have a negative impact on earnings. For the Netherlands, one of Great Britain's most important trading partners, we foresee a positive market environment, irrespective of a slight slowdown in market growth. In Germany and France we expect to see an upward trend in the construction of new single- and two-family homes, whereas the Italian and Swiss markets are projected to decline throughout the year. Overall, we foresee higher sales volumes across all product groups of the Clay Building Materials Europe Division and expect a significant increase in earnings.

Clay Building Materials Western Europe With stable revenues, the Clay Building Materials Western Europe segment was able to increase its earnings by 9% to € 139.4 million in the first nine months of the year. This increase was due to higher sales across all product groups and an organic improvement of earnings in the third quarter, whereas in the same period of the previous year, performance was burdened by structural adjustment costs. In addition to ongoing efficiency-enhancing and cost optimization measures, our focus in Western Europe continues to be on the introduction of innovative products and system solutions as well as intensified activities in the areas of marketing and sales.

Stable development

Clay Building Materials Western Europe		1-9/2015	1-9/2016	Chg. in%
External revenues	in € mill.	890.3	890.6	0
Operating EBITDA	in € mill.	127.7	139.4	+9
Operating EBIT	in € mill.	69.4	83.5	+20
Total investments	in € mill.	36.1	35.7	-1
Capital Employed 1)	in € mill.	1,219.4	1,142.3	-6
Ø Employees	in FTE	6,028	5,988	-1
Sales volumes clay blocks	in mill. NF	1,504	1,573	+5
Sales volumes facing bricks	in mill. WF	954	963	+1
Sales volumes roof tiles	in mill. m²	16.84	17.29	+3

1)Due to the correction of an error, which required additional impairments to be booked for 2014, capital employed as at September 30, 2015 was restated.

The development of demand in Great Britain after the Brexit vote was better than expected. Ongoing projects were implemented as planned and supported residential construction activity. Moreover, the high inventories along the supply chain returned to normal in the course of the third quarter, which had a positive impact on our core business in facing bricks. We also succeeded in increasing our sales and strengthening our market position in the roof tile sector. Nevertheless, in view of the prevailing uncertainty regarding the future development of demand, we took measures to adjust our production capacities. Altogether, the operating result was clearly below the previous year's level on account of the steep devaluation of the British pound against the reporting currency and the higher idle-capacity costs.

In the Netherlands, we were once again able to take advantage of the recovering market and to increase our sales across all product groups in the third quarter. Overall, we succeeded in achieving significant growth in revenues and earnings during the first nine months of the year.

The Belgian market for new housing construction and renovation was marked by investment restraint during the first nine months, which led to a slightly downward trend in demand. The resulting drop in sales was only partially offset by higher average prices resulting from improvements of the product mix, which meant that we closed the reporting period with lower earnings than in the first nine months of 2015.

A rising number of new housing starts in the segment of single- and two-family homes led to higher clay block sales in Germany and France. At the same time, the renovation market, which is important for our roof tile business, dropped below the previous year's level, as subsidies were not available and people tended to postpone investments, given that energy prices were lower. Overall, our earnings increased significantly in both markets; in Germany, the trend was supported by the structural adjustments that had been successfully implemented last year as well as the absence of one-off costs.

In Italy and Switzerland we observed a slowdown in the construction of new single- and two-family homes, which was reflected in reduced sales volumes. To counteract this trend, we are focusing on increasing the percentage of higher-value products in total revenues in Switzerland, whereas we are looking into further cost optimization measures in Italy.

Germany and France

Italy and Switzerland

Clay Building Materials Eastern Europe The positive market and business trends continued in the third quarter in almost all core countries of the Eastern European region. Sales of clay blocks and roof tiles increased at stable average prices during the first nine months of the year. Overall, revenues increased by 8% to € 387.3 million and the operating result improved significantly by 27% to € 77.5 million compared to the same period in the previous year.

		1-9/2015	1-9/2016	Chg. in%
Clay Building Materials Eastern Europe External revenues	in € mill.	360.0	387.3	+8
Operating EBITDA	in € mill.	61.2	77.5	+27
Operating EBIT	in € mill.	24.0	41.7	+74
Total investments	in € mill.	12.4	22.9	+85
Capital employed	in € mill.	497.8	480.8	-3
Ø Employees	in FTE	4,191	4,336	+3
Sales volumes clay blocks	in mill. NF	2,385	2,619	+10
Sales volumes roof tiles	in mill. m²	12.29	12.74	+4

Significant earnings

growth

Czech Republic

Bulgaria, Romania and Hungary

Given the slight upward trend in the Austrian residential construction market during the first nine months of 2016, we were able to increase our sales at stable average prices and generate growth in both revenues and earnings. In the single- and two-family-home segment, especially, we benefited from the growing market share of monolithic walls with thermally insulated clay blocks.

In Poland we see positive market development supported by government subsidy programs for new housing construction and renovation. In this environment, we recorded a significant increase in our clay block and roof tile sales, which in turn resulted in revenues and earnings above the previous year's level.

A slightly positive trend in the construction of new single- and two-family homes was seen in the Czech Republic and Slovakia. Our clay block sales increased at improved average prices, which translated into significant growth in revenues and earnings.

The positive growth dynamics seen in the construction of new single- and two-family homes in Hungary and Bulgaria continued throughout the third quarter, resulting in substantially higher volumes of clay block sales. Overall, we achieved significant revenue and earnings growth in both markets, which especially in Hungary was supported by attractive government subsidy programs. In Romania, we saw a slight cooling down of market growth. Nevertheless, higher sales volumes and improved average prices enabled us to increase revenues and earnings.

Under the impact of persistent recession, the Russian residential construction market continued to shrink in the third quarter. Faced with this difficult environment, we had to accept a sales drop and lower prices, which in turn resulted in lower revenues and earnings.

Pipes & Pavers Europe The Pipes & Pavers Europe Division recorded a 5% drop in revenues to € 772.8 million in the first nine months of the year. Operating EBITDA also decreased by 10% from the previous year's level to € 83.2 million. On the one hand, this decline was due to the lower contribution to earnings, as already communicated, from the international project business of our plastic pipe operations. On the other hand, delays in the award of public-sector projects in Eastern Europe continued to have a negative impact on developments in all business areas of the Division.

Pipes & Pavers Europe		1-9/2015	1-9/2016	Chg. in%
External revenues	in € mill.	816.5	772.8	-5
Operating EBITDA	in € mill.	91.9	83.2	-10
Operating EBIT	in € mill.	57.3	48.7	-15
Total investments	in € mill.	27.7	40.7	+47
Capital Employed 1)	in € mill.	586.9	619.8	+6
Ø Employees	in FTE	4,165	4,197	+1

1)Due to the correction of an error, which required additional impairments to be booked for 2014, capital employed as at September 30, 2015 was restated.

Given the Division's third quarter result, which was lower than expected, we foresee a continuation of the trend observed in the first nine months throughout the fourth quarter. We therefore project a marked drop in earnings in the Pipes & Pavers Europe Division, as compared with the previous year.

In our Western European plastic pipe business, we expect earnings to increase in the final quarter, mainly due to growth in our Nordic core markets and the contribution from the majority takeover of a Finnish pipe producer. However, this highly satisfactory development of earnings will be partially offset by the continuing decline in international project business. Ongoing projects in this field of business are being completed successively, while the intake of new orders remained weak in the third quarter. We therefore do not expect our project business to pick up during the remaining three months of the year. As regards our ceramic pipe operations, we foresee a continued sound price development in our European core business, while the environment will remain extremely challenging as far as sales volumes are concerned. In particular, our exports to Central and Eastern Europe have declined sharply against the backdrop of sluggish public-sector activity. At the same time, our trading partner in the Middle East has stopped importing our products until further notice because the low oil price has led to infrastructure spending restraint in the region. This unforeseen development is causing not only higher idle-capacity costs, but also expenses for the mothballing of one production line. Altogether, we expect the Pipes & Pavers Western Europe segment to close the full year with reduced earnings.

The development of fourth quarter business in the Pipes & Pavers Eastern Europe segment will continue to be marked by massive delays in the award of contracts by public-sector clients. The countries most concerned by the downturn in demand in our Eastern European plastic pipe business are Poland, Hungary, Bulgaria and the Czech Republic. The resulting loss of earnings can only be partially offset through growth in Austria, Slovakia and Turkey. Our concrete paver operations have also been severely affected by the absence of infrastructure projects. This situation is resulting in lower volumes sold and pressure on prices, a development which cannot be fully compensated by the progressive shift in the product mix to higher-value products as

Pavers Europe Division

Earnings in Pipes &

well as strict cost management. We therefore expect a significant drop in earnings in the Pipes & Pavers Eastern Europe segment.

Pipes & Pavers Western Europe The Pipes & Pavers Western Europe segment recorded a 3% drop in revenues to € 449.0 million in the first nine months of the year. At € 53.0 million, the segment's operating EBITDA was 7% below the previous year's level.

In our Western European plastic pipe business we saw a moderate increase in earnings in the first three quarters. We continued to benefit, in particular, from a satisfactory level of demand in our Nordic core markets, where we succeeded in improving our operating result despite negative foreign exchange effects from the Norwegian crown. Moreover, a positive contribution to revenues and earnings was made by the Finnish competitor taken over by Wienerberger at the beginning of the year. In the other markets of the region we generated approximately stable results. In the French market, which was characterized by excess capacities and pressure on prices, we recorded a slightly improved operating result thanks to the structural adjustments implemented. As expected, a drop in earnings was seen in our international project business, which is managed from production sites in Norway and the Netherlands. Given that the order book situation in our business with fiber-reinforced pipes and long-length largediameter pipes did not improve over the summer months, and ongoing projects are being successively completed, we were not able to match the previous year's record result.

In our business with ceramic waste water pipes, which is operated from production sites in Germany and Belgium, we closed the first three quarters with significantly reduced revenues and earnings. The development of business was affected, in particular, by declining demand in our Eastern European export markets. Moreover, the fact that project activities were reviving in our German home market was not yet reflected in higher product deliveries. Sales volumes therefore fell short of the previous year's level. In contrast, we recorded average prices that were higher than expected and stable volumes in the other Western European markets. As regards our international export business, our trading partner in the Middle East has had to stop importing our products for the time being, as infrastructure spending has come under growing pressure in that region as well. In response to this development, we will mothball one production line in order to optimize utilization of the remaining lines.

Pipes & Pavers Western Europe		1-9/2015	1-9/2016	Chg. in%
External revenues	in € mill.	460.8	449.0	-3
Operating EBITDA	in € mill.	56.9	53.0	-7
Operating EBIT	in € mill.	37.9	34.1	-10
Total investments	in € mill.	12.0	19.8	+65
Capital Employed 1)	in € mill.	308.2	335.4	+9
Ø Employees	in FTE	1,754	1,855	+6

1)Due to the correction of an error, which required additional impairments to be booked for 2014, capital employed as at September 30, 2015 was restated.

Moderate drop in earnings

Pipes & Pavers Eastern Europe Revenues of the Pipes & Pavers Eastern Europe segment declined by 9% to € 323.8 million in the first nine months of the year. Operating EBITDA dropped by 14% to € 30.2 million over the same period. Given the extremely sluggish tendering activities of public-sector bodies, the market environment for infrastructure projects remained very challenging, and private infrastructure projects could not compensate for the shortfall in public contracts. Despite the availability of EU funds for substantial co-financing of infrastructure investments, long delays occurred in the award of projects eligible for funding. On the one hand, this is due to the beginning of the new programming period of the EU Cohesion Fund, which means that European legislation first has to be transposed into national law. On the other hand, newly elected governments in a number of countries stopped projects in order to reevaluate the priorities for infrastructure programs.

As a result of these developments, we recorded significantly lower revenues and earnings in our Eastern European plastic pipe operations in Poland, Hungary, Bulgaria and Greece. Moreover, public-sector tendering activities did not pick up noticeably in the third quarter. At the same time, however, we succeeded in generating earnings growth in the healthy Austrian market as well as in Slovakia. In Turkey, we continued to benefit from deliveries for projects in the gas sector and high demand for irrigation systems. Despite negative foreign exchange effects, we were able to significantly increase the result of our Turkish operations.

In the absence of public-sector projects, the market environment for our concrete paver business remained on a subdued level. The trend seen during the first six months continued, and lower sales volumes as well as pressure on prices led to a substantial drop in earnings. Besides sluggish demand, we felt the impact of structural changes in the DIY segment in several Central European markets and had to establish new distribution partnerships. In order to succeed in this challenging market environment, we are making a continuous effort to position ourselves as a premium supplier. Thanks to the resulting enhancements of the product mix, combined with stringent cost discipline, we are improving our earnings power and have partially offset the drop in earnings. We generated earnings growth in Romania and Croatia, the latter market being supported by investments in coastal regions following the excellent tourist season.

Pipes & Pavers Eastern Europe		1-9/2015	1-9/2016	Chg. in%
External revenues	in € mill.	355.7	323.8	-9
Operating EBITDA	in € mill.	35.0	30.2	-14
Operating EBIT	in € mill.	19.4	14.6	-25
Total investments	in € mill.	15.7	21.0	+33
Capital employed	in € mill.	278.7	284.4	+2
Ø Employees	in FTE	2,411	2,342	-3

North America The American residential construction market for single- and two-family homes continued to grow throughout the third quarter. In this market environment, we succeeded in increasing our sales of facing bricks and gained additional market shares, which resulted in organic earnings growth. In Canada, we benefited from improved residential construction activities in our core regions, which enabled us to increase both volumes and prices and to generate significantly higher revenues and earnings. Our North American plastic pipe activities were exposed to Business development depressed by sluggish public-sector orders

Rising revenues in

growing pressure on prices and therefore unable to match the previous year's performance. Overall, the North America Division reported a 5% increase in revenues to € 220.3 million, whereas operating EBITDA dropped from € 26.7 million to € 17.5 million. Adjusted for contributions to earnings from our program for the disposal of non-core real estate in the amount of € 2.8 million (2015: € 12.5 million) and costs of € 2.9 million for the closure of one production site, as well as foreign exchange effects, the North America Division recorded a 25% organic increase in earnings.

North America		1-9/2015	1-9/2016	Chg. in%
External revenues	in € mill.	210.2	220.3	+5
Operating EBITDA	in € mill.	26.7	17.5	-34
Operating EBIT	in € mill.	8.4	-2.8	<-100
Total investments	in € mill.	7.7	9.2	+19
Capital Employed 1)	in € mill.	371.3	343.1	-8
Ø Employees	in FTE	1,284	1,264	-2
Sales volumes facing bricks	in mill. WF	280	320	+14

1)Due to the correction of an error, which required additional impairments to be booked for 2014, capital employed as at September 30, 2015 was restated.

In view of the growing number of new housing starts in the American single- and twofamily-home segment, we expect a substantial increase in facing brick sales for the business year 2016. In a still challenging price environment in some regional markets we foresee slightly lower average prices for the year as a whole. We expect further volume growth in the Canadian market, but project a drop in earnings in our plastic pipe business. Overall, we expect the North America Division to increase its revenues and to generate notable organic earnings growth in 2016.

Holding & Others The Holding & Others Division comprises the holding company of the Group as well as our brick activities in India. Higher volumes of clay blocks sold and improved average prices resulted in a 16% increase in revenues to € 6.6 million in the first nine months of the year. In the absence of the contribution to earnings from a real estate sale in the previous year, the operating result declined slightly from € -14.2 million to € -15.0 million over the same period. We expect to close the year with further growth in revenues and earnings in India.

Holding & Others		1-9/2015	1-9/2016	Chg. in%
External revenues	in € mill.	5.7	6.6	+16
Operating EBITDA	in € mill.	-14.2	-15.0	-6
Operating EBIT	in € mill.	-16.7	-16.8	-1
Total investments	in € mill.	1.2	2.4	+93
Capital employed	in € mill.	-1.4	-7.0	<-100
Ø Employees	in FTE	207	206	0

Revenue increased through higher

Condensed Interim Financial Statements (IFRS) Wienerberger Group

Consolidated Income Statement in TEUR	7-9/2016	7-9/2015	1-9/2016	1-9/2015
Revenues	810,787	808,449	2,279,685	2,283,335
Cost of goods sold	-539,909	-540,341	-1,535,935	-1,554,397
Gross profit Selling expenses	270,878 -148,865	268,108 -149,984	743,750 -435,278	728,938 -440,168
Administrative expenses	-46,996	-46,648	-142,407	-140,354
Other operating income	11,589	7,772	30,888	32,314
Other operating expenses:
Impairment charges to assets	0	309	0	-10,228
Other	-11,325	-15,663	-42,689	-38,291
Operating profit/loss (EBIT) Income from investments in associates and joint ventures	75,281 1,559	63,894 1,555	154,264 5,230	132,211 1,593
Interest and similar income	1,245	1,372	3,751	5,269
Interest and similar expenses	-9,401	-12,338	-28,881	-37,636
Other financial result	-2,993	-6,359	-4,092	-14,163
Financial result	-9,590	-15,770	-23,992	-44,937
Profit/loss before tax Income taxes	65,691 -14,437	48,124 -21,399	130,272 -36,255	87,274 -39,496
Profit/loss after tax Thereof attributable to non-controlling interests	51,254 1,514	26,725 1,220	94,017 1,197	47,778 153
Thereof attributable to hybrid capital holders	8,072	8,192	24,101	24,308
Thereof attributable to equity holders of the parent company	41,668	17,313	68,719	23,317
Earnings per share (in EUR)	0.36	0.15	0.59	0.20
Diluted earnings per share (in EUR)	0.36	0.15	0.59	0.20

	7-9/2015		1-9/2015
7-9/2016	restated	1-9/2016	restated
51,254	26,725	94,017	47,778
			48,127
			20
-230	-172	72	-1,577
1,905	13,362	15,888	661
126	0	-10,854	47,231 0
			0
			47,231
1,495	1,234	1,051	95,009 382
8,072	8,192	24,101	24,308
			70,319
	-3,075 4 -1,396 126 -1,270 49,984 40,417	-34,935 3 -21,742 0 -21,742 4,983 -4,443	-43,075 0 -27,115 -10,854 -37,969 56,048 30,896

1) The components of other comprehensive income are reported net of tax.

Consolidated Balance Sheet in TEUR	30/9/2016	31/12/2015
Assets Intangible assets and goodwill	686,984	701,425
Property, plant and equipment	1,561,898	1,614,874
Investment property	87,954	91,613
Investments in associates and joint ventures	12,337	11,371
Other investments and non-current receivables	13,872	11,779
Deferred tax assets	18,704	18,492
Non-current assets	2,381,749	2,449,554
Inventories	734,374	753,271
Trade receivables	335,639	202,767
Receivables from current taxes	11,850	12,195
Other current receivables	60,024	60,551
Securities and other financial assets	61,306	58,426
Cash and cash equivalents	120,290	154,878
Current assets	1,323,483	1,242,088
Total assets	3,705,232	3,691,642
Equity and liabilities Issued capital	117,527	117,527
Share premium	1,086,017	1,086,026
Hybrid capital	484,592	490,560
Retained earnings	583,663	546,754
Other reserves	-237,712	-199,889
Treasury stock	-4,862	-4,862
Controlling interests Non-controlling interests	2,029,225 19,154	2,036,116 18,103
Equity	2,048,379	2,054,219
Deferred taxes	89,208	84,336
Employee-related provisions	168,129	160,575
Other non-current provisions	71,765	71,783
Long-term financial liabilities	487,439	507,530
Other non-current liabilities	5,340	4,343
Non-current provisions and liabilities	821,881	828,567
Current provisions	38,803	57,916
Payables for current taxes	23,475	11,698
Short-term financial liabilities	244,110	239,890
Trade payables	244,117	276,316
Other current liabilities	284,467	223,036
Current provisions and liabilities Total equity and liabilities	834,972 3,705,232	808,856 3,691,642

Consolidated Statement of Changes in Equity

in TEUR	Issued capital	Share premium/ treasury stock	Hybrid capital	Retained earnings	Other reserves	Controlling interests	Non controlling interests	Total
Balance on 1/1/2016 Total comprehensive income	117,527	1,081,164	490,560	546,754 92,820	-199,889 -37,823	2,036,116	18,103 1,051	2,054,219
Dividend payment/hybrid coupon				-55,911		54,997		56,048
Change in hybrid capital			-5,968			-55,911		-55,911
Increase/decrease in non-controlling interests		-9				-5,968 -9		-5,968 -9
Balance on 30/9/2016	117,527	1,081,155	484,592	583,663	-237,712	2,029,225	19,154	2,048,379

in TEUR	Issued capital	Share premium/ treasury stock	Hybrid capital	Retained earnings	Other reserves	Controlling interests	Non controlling interests	Total
Balance on 1/1/2015 restated Total comprehensive income	117,527	1,081,163	490,560	516,173 47,625	-236,194 47,002	1,969,229	17,256 382	1,986,485
Dividend payment/hybrid coupon				-38,459		94,627 -38,459		95,009 -38,459
Balance on 30/9/2015 restated	117,527	1,081,163	490,560	525,339	-189,192	2,025,397	17,638	2,043,035

Consolidated Statement of Cash Flows in TEUR		1-9/2015
Profit/loss before tax	1-9/2016 130,272	restated 87,274
Depreciation and amortization	142,825	150,639
Impairment charges to assets and other valuation effects	18,240	25,508
Increase/decrease in non-current provisions	-2,520	-3,127
Income from investments in associates and joint ventures	-5,230	-1,593
Gains/losses from the disposal of fixed and financial assets	-5,859	-17,236
Interest result	25,130	32,367
Interest paid	-29,632	-41,110
Interest received	3,236	3,498
Income taxes paid	-18,044	-19,020
Gross cash flow	258,418	217,200
Increase/decrease in inventories	4,789	-64,175
Increase/decrease in trade receivables	-140,074	-106,933
Increase/decrease in trade payables	-27,881	-41,981
Increase/decrease in other net current assets	43,666	72,123
Cash flow from operating activities	138,918	76,234
Proceeds from the sale of assets (including financial assets)	11,898	19,271
Payments made for the purchase of property, plant and equipment and intangible assets	-98,048	-85,051
Payments made for investments in financial assets	-16	-14
Dividend payments from associates and joint ventures	4,265	1,577
Increase/decrease in securities and other financial assets	-5,500	-13,259
Net payments made for the acquisition of companies	-12,861	0
Net proceeds from the sale of companies	0	1,198
Cash flow from investing activities	-100,262	-76,278
Cash inflows from the increase in short-term financial liabilities	214,634	225,452
Cash outflows from the repayment of short-term financial liabilities	-214,739	-356,083
Cash inflows from the increase in long-term financial liabilities	602	60,402
Cash outflows from the repayment of long-term financial liabilities	-10,114	-139
Dividends paid by Wienerberger AG	-23,391	-17,543
Hybrid coupon paid	-32,520	-20,916
Other changes in non-controlling interests	-9	0
Buyback hybrid capital	-5,968	0
Cash flow from financing activities	-71,505	-108,827
Change in cash and cash equivalents Effects of exchange rate fluctuations on cash held	-32,849 -1,739	-108,871 1,483
Cash and cash equivalents at the beginning of the period	154,878	275,195
Cash and cash equivalents at the end of the period	120,290	167,807

Operating Segments
1-9/2016 in TEUR	Eastern Europe	Clay Building Materials Western Europe	Eastern Europe	Pipes & Pavers Western Europe	North America	Holding & Others 1)	Reconciliation 2)	Wienerberger Group
External revenues	387,253	890,569	323,755	449,008	220,302	6,587		2,277,474
Inter-company revenues	5,939	7,890	7,660	6,373	642	9,871	-36,164	2,211
Total revenues	393,192	898,459	331,415	455,381	220,944	16,458	-36,164	2,279,685
Operating EBITDA	77,515	139,404	30,153	53,012	17,536	-15,031		302,589
Operating EBIT	41,664	83,507	14,569	34,107	-2,796	-16,787		154,264
EBIT	41,664	83,507	14,569	34,107	-2,796	-16,787		154,264
Profit/loss after tax	26,928	48,349	7,079	33,635	-10,647	29,345	-40,672	94,017
Total investments	22,892	35,735	20,990	19,754	9,157	2,397		110,925
Capital employed	480,791	1,142,338	284,412	335,353	343,075	-7,010		2,578,959
Ø Employees	4,336	5,988	2,342	1,855	1,264	206		15,991
1-9/2015 restated External revenues	360,045	890,343	355,691	460,779	210,204	5,698		2,282,760
Inter-company revenues	6,110	7,055	9,180	6,286	3,670	9,162	-40,888	575
Total revenues	366,155	897,398	364,871	467,065	213,874	14,860	-40,888	2,283,335
Operating EBITDA	61,157	127,734	35,016	56,924	26,746	-14,151		293,426
Operating EBIT	24,011	69,373	19,410	37,858	8,437	-16,650		142,439
Impairment charges to assets	9,170	0	1,058	0	0	0		10,228
EBIT	14,842	69,372	18,352	37,858	8,437	-16,650		132,211
Profit/loss after tax	1,885	25,651	10,342	32,769	671	33,706	-57,246	47,778
Total investments	12,355	36,078	15,727	11,961	7,704	1,240		85,065
Capital employed	497,804	1,219,371	278,740	308,207	371,252	-1,390		2,673,984
Ø Employees	4,191	6,028	2,411	1,754	1,284	207		15,875

1) The Holding & Others segment includes the costs of the corporate headquarters and business activities in India.

2) The 'reconciliation' column includes eliminations between Group companies.

Condensed Notes to the Interim Financial Statements

Basis of Preparation The interim financial report as of September 30, 2016 was prepared in accordance with the principles set forth in the International Financial Reporting Standards, Interim Financial Reporting (IAS 34). The major judgements and estimates used to prepare the consolidated financial statements for 2015 as well as the accounting and valuation methods in effect on December 31, 2015 remain unchanged, with the exception of the IFRS that require mandatory application as of January 1, 2016.

The following table provides an overview of the new standards and interpretations published by the IASB as of the balance sheet date.

		Published by IASB	Mandatory first-time adoption
Standards/Interpretations IAS 19	Employee Benefits: Amendments	November 2013	1/2/20151)
	Annual Improvements to IFRSs 2010 - 2012 Cycle	December 2013	1/2/20151)
IFRS 14	Regulatory Deferral Accounts	January 2014	1/1/2016
IAS 16	Property, Plant and Equipment: Clarification of Acceptable Methods of Depreciation and Amortization	May 2014	1/1/20161)
IAS 38	Intangible Assets: Clarification of Acceptable Methods of Depreciation and Amortization	May 2014	1/1/20161)
IFRS 11	Joint Arrangements: Accounting for Acquisition of Interests in Joint Operations	May 2014	1/1/20161)
IAS 16	Property, Plant and Equipment: Bearer Plants – Amendments	June 2014	1/1/20161)
IAS 41	Agriculture: Bearer Plants – Amendments	June 2014	1/1/20161)
IAS 27	Separate Financial Statements: Equity Method in Separate Financial Statements – Amendments	August 2014	1/1/20161)
	Annual Improvements to IFRSs 2012 - 2014 Cycle	September 2014	1/1/20161)
IAS 1	Presentation of Financial Statements: Disclosure Initiative	December 2014	1/1/20161)
IFRS 10, IFRS 12 and IAS 28	Consolidation of Investment Entities	December 2014	1/1/20161)
IAS 12	Income Taxes: Recognition of Deferred Tax Assets for Unrealized Losses – Amendments	January 2016	1/1/2017
IAS 7	Statement of Cash Flows: Disclosure Initiative	January 2016	1/1/2017
IFRS 9	Financial Instruments: Hedge Accounting – Amendments to IFRS 9, IFRS 7 and IAS 39	November 2013	1/1/2018
IFRS 9	Financial Instruments	July 2014	1/1/2018
IFRS 15	Revenue from Contracts with Customers	May 2014/ September 2015	1/1/20181)
IFRS 15	Revenue from Contracts with Customers – Amendments	April 2016	1/1/2018
IFRS 2	Share-based Payment – Amendments	June 2016	1/1/2018
IFRS 4	Insurance Contracts – Amendments	September 2016	1/1/2018
IFRS 16	Leases	January 2016	1/1/2019
IFRS 10, IAS 28	Sale of Assets between an Investor and its Associate or Joint Venture – Amendments	September 2014/ December 2015	-

1) Mandatory effective date according to European Union regulation

New and amended standards and interpretations published that were adopted by the EU

The amendments to IAS 19 Employee Benefits clarify the conditions under which employee contributions can be treated as a reduction of service cost. The additional clarification has no effect on Wienerberger's consolidated financial statements.

The IFRS 2010 - 2012 improvement cycle comprises additional clarifications on IFRS 8 Operating Segments: clarification on disclosures relating to the aggregation of operating segments, IAS 16 Property, Plant and Equipment, and IAS 38 Intangible Assets: clarification on the proportionate restatement of accumulated depreciation and amortization according to the revaluation method, and IAS 24 Related Party Disclosures: clarification of the definition of a "related party" with regard to services in the management of the entity. The following standards amend existing requirements: IFRS 2 Share-based Payment: additional explanation on the definition of "performance conditions" and "service conditions", and IFRS 3 Business Combinations: recognition of contingent consideration at fair value at each reporting date. None of these amendments are of relevance to Wienerberger's consolidated financial statements.

The clarification on IAS 16 and IAS 38 regarding acceptable methods of depreciation and amortization includes the prohibition of revenue-based depreciation of tangible assets and the refutable assumption that such method of amortization is appropriate for intangible assets. Given the fact that Wienerberger applies a straight-line depreciation/amortization method or a method based on the specific usage of the asset, this clarification is not relevant.

The clarifications on IFRS 11 Joint Arrangements, entitled Accounting for Acquisition of Interests in Joint Operations, state that all principles governing the accounting treatment of business combinations according to IFRS 3 apply to the acquisition of joint operations representing a business according to IFRS 3, as long as they are not in conflict with the guidelines of IFRS 11. These amendments have no effect on the consolidated financial statements of the Wienerberger Group.

Amendments to IAS 16 and IAS 41 on Bearer Plants are of no relevance for the Wienerberger Group.

The amendments to IAS 27 regarding the equity method in separate financial statements are of no relevance for the Wienerberger Group.

The IFRS 2012 - 2014 improvement cycle contains clarifications on IFRS 5 regarding the classification of assets held for sale and additional guidelines on disclosures relating to the netting of financial assets and financial liabilities in accordance with IFRS 7 in conjunction with IAS 34. IAS 19 clarifies that the discount rate used is to be derived from first-rate corporate or government bonds denominated in the currency in which the payments are to be made. IAS 34 Interim Financial Reporting clarifies that the disclosures required by IAS 34 can be made anywhere in the interim report. These clarifications have no material effects on Wienerberger's consolidated financial statements.

The amendments within the framework of the Disclosure Initiative regarding disclosures according to IAS 1 Presentation of Financial Statements are aimed at addressing the issue of materiality in respect of the extent and the degree of detail of the disclosures required. This amendment has no material effect on Wienerberger's consolidated financial statements.

The amendments to IFRS 10, IFRS 12 and IAS 28 under the title of Investment Entities clarify certain issues relating to the consolidation of investment entities. The amendments clarify that the consolidation exception applies also when the investment entity itself is a subsidiary. Moreover, the method of measurement of participations in investment entities depends on whether the parent itself is an investment entity or not. The amendments, which entered into force on January 1, 2016, are of no relevance for the Wienerberger Group.

IFRS 15 Revenue from Contracts with Customers was published in May 2014 and will replace IAS 18 Revenue, IAS 11 Construction Contracts, IFRIC 13 Customer Loyalty Programs, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfer of Assets from Customers, and SIC 31 Revenue – Barter Transactions Involving Advertising Services. The standard defines the timing and the amount of revenue realized, regardless of the type of contract and service. The standard provides for a five-step framework for the determination of revenue, according to which the contract and the performance obligations of the contract are to be identified first. After the determination of the transaction price and its allocation to the individual performance obligations, the time of performance to realize the revenue must be identified. The new standard is mandatory for financial years starting after January 1, 2018. Wienerberger is currently investigating the effects on its consolidated financial statements.

New and amended standards and interpretations published, but not yet adopted by the EU

IFRS 14 Regulatory Deferral Accounts governing the accounting treatment of price-regulated business transactions only applies to first-time adopters of IFRS and has not yet adopted by the European Union for the time being; therefore, the standard has no effect on the consolidated financial statements of the Wienerberger Group.

The amendments to IAS 12 clarify the accounting treatment of deferred tax assets for unrealized losses on acquired debt instruments. Write-downs to the lower market value of debt instruments measured at fair value, resulting from a change in the prevailing market interest rate, result in deductible temporary differences. These amendments have no effect on consolidated financial statements.

The amendments to IAS 7 Statements of Cash Flows are intended to improve the disclosures regarding the company's level of debt. Additional information is to be provided on changes in the company's financial liabilities, cash receipts and cash payments from financing activities, as well as the related financial assets. These disclosures can be presented in the form of reconciliation and should comprise changes in cash positions, changes from the acquisition or sale of companies, changes resulting from foreign currency translation, changes in fair values, and other changes.

In November 2009, the project of replacing IAS 39 Financial Instruments by IFRS 9 Financial Instruments resulted in a first publication dealing with the recognition and measurement of financial instruments. Further IFRS 9 rules followed in 2010 and 2013, and the final version was published in July 2014. A major change concerns the classification of financial instruments in the categories of financial instruments measured at amortized cost and financial instruments recognized at fair value. In the future, certain equity instruments are permitted to be classified at fair value in other comprehensive income under certain circumstances. Moreover, the rules on hedge accounting were revised. Proof of effectiveness is no longer subject to the range of 80% to 125% specified by the standard setter, but can be reasoned by the entity in qualitative terms. Subject to adoption by the European Union, the new IFRS is to be applied for the first time for financial years beginning on or after January 1, 2018. Wienerberger is currently investigating the effects on its consolidated financial statements.

The final amendments to IFRS 15 were published in April 2016. The clarifications concern the identification of the separate performance obligations of a contract, the assessment as to whether an entity is the principal or the agent of a transaction, and whether revenue from licenses granted is to be recognized over time or at a certain point in time. Further simplifications are provided for in connection with the transitional rules. The new standard as well as its amendments, subject to adoption by the European Union, are mandatory for financial years starting after January 1, 2018. Wienerberger is currently investigating the effects on its consolidated financial statements.

IFRS 16 Leases was published in January 2016 and will replace IAS 17 Leases, IFRIC 4 Determining whether an Arrangement Contains a Lease, SIC 15 Operating Leases – Incentives, and SIC 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. The new standard is to ensure that all leasing transactions and the related contractual rights and obligations are recognized on the balance sheet of the lessee. Thus, the classification of leases as either operating leases or finance leases will be eliminated. The lessee will recognize the liability arising under the lease and, at the same time, capitalize the right to use the underlying asset, which corresponds to the present value of the future lease payments plus directly allocated costs. For the lessor, the rules are similar to those of IAS 17. Wienerberger is currently investigating the impact on the consolidated financial statements, assuming that the new accounting rule will result in an extension of the balance sheet.

The amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates, entitled Sale or Contribution of Assets between an Investor and its Associate or Joint Venture, provide for the effect on the result to depend on whether or not a business operation is transferred. In the event of loss of control of a business operation, the result is to be recognized in its entirety. The date of first adoption has been deferred indefinitely by the IASB.

The amendments to IFRS 2 Share-based Payment concern the consideration of settlement conditions within the framework of the measurement of share-based payments with cash settlement. Share-based payments providing for net settlement of taxes to be withheld are classified as equity-settled share-based payments. Moreover, the amendments clarify the recognition of a change in conditions, if it changes the classification from cash-settled payment to equity-settled payment.

The amendments to IFRS 4 Insurance Contracts, addressing issues arising from the implementation of IFRS 9 Financial Instruments in insurance contracts, were published in September 2016. These amendments are of no relevance to Wienerberger.

For additional information on major judgements and estimates as well as accounting and valuation principles, see the financial statements as of December 31, 2015, which form the basis for these interim financial statements.

The business activities of the Wienerberger Group are managed on a regional basis; at the same time, their segmentation also reflects the different business areas. The Clay Building Materials Europe Division covers activities in the areas of clay blocks, facing bricks and roof tiles in two segments: Clay Building Materials Eastern Europe and Clay Building Materials Western Europe. The Pipes & Pavers Europe Division encompasses our activities in the production of plastic pipes, ceramic pipes and concrete pavers, and includes the Pipes & Pavers Eastern Europe and Pipes & Pavers Western Europe segments. All activities in North America are grouped in the North America segment. The Holding & Others segment consists primarily of Wienerberger's brick business in India and activities at the corporate headquarters.

Changes in the methods of consolidation and correction of errors In 2015, Wienerberger AG was audited, for no particular reason, by the Austrian Financial Reporting Enforcement Panel (AFREP) pursuant to § 2 (1) it.2 of the Act on the Establishment of an IFRS Enforcement Process (Rechnungslegungs-Kontrollgesetz). The audit covered the interim financial statements as at 30/6/2014 and 30/6/2015 as well as the consolidated financial statements as at 31/12/2014. As a result of the audit, an error was identified, which was accepted by Wienerberger AG.

Completion of the audit was communicated by administrative notice dated April 12, 2016 issued by the Austrian Financial Market Authority. The errors to be corrected, the reasoning underlying the identification of the errors, and the impacts on the financial statements as at 30/9/2015 are explained in the following:

Wienerberger regards individual plants as cash-generating units (CGUs), which are aggregated into groups of CGUs for the purpose of allocation of goodwill. Up to 31/12/2013, each country constituted a group of CGUs per product group according to IAS 36.80. In the business year 2014, Wienerberger AG reduced the number of groups of cash-generating units, on the basis of which goodwill and intangible assets with an indefinite useful life were tested for impairment, from 59 to 15. According to IAS 36.12 (f), the fact that groups of CGUs are aggregated is taken as an indication of an impairment, which requires the performance of an impairment test of the individual groups of CGUs prior to their aggregation. No such impairment test was performed when Wienerberger reduced the groups of CGUs. Therefore, the procedure followed by Wienerberger AG was in violation of IAS 36.80 in conjunction with IAS 36.72. On the basis of the CGU structure in place in the business year 2013, an additional impairment of goodwill in a total amount of TEUR 55,772 had to be booked, which was recognized as a correction of the error identified. Of this total, TEUR 30,987 was accounted for by goodwill in Germany and TEUR 17,612 by goodwill in France in the Bricks and Roof Western Europe West CGU in the Clay Building Materials Western Europe segment. An additional goodwill impairment of TEUR 7,173 was identified in the USA in the Bricks North America CGU. Subsequently, this correction of goodwill led to an adjustment of the currency translation differences in the first nine month of 2015 by TEUR 657. Moreover, in the Pipes Pipelife West CGU an impairment of TEUR 1,932 of the Pipelife brand in France was recognized in the Pipes & Pavers Western Europe segment.

On account of the additional impairments in the business year 2014, as described above, the capital employed of the Clay Building Materials Western Europe, Pipes & Pavers Western Europe, and North America segments was restated as at 30/9/2015.

In accordance with IAS 12.35, an entity with a history of recent losses can recognize a deferred tax asset only to the extent that the entity has sufficient taxable temporary differences or there is convincing other evidence that sufficient taxable profit will be available for the utilization of the entity's unused tax losses. Wienerberger was unable to produce such evidence for Pipelife France. To correct the error identified, deferred tax assets in the amount of TEUR 1,973 were retroactively not recognized as at 31/12/2014.

Moreover, IAS 12.74 was fully applied by retroactively offsetting deferred tax assets and deferred tax liabilities in the amount of TEUR 22,030 as a result of the audit.

According to IAS 7.28, unrealized gains and losses from changes in foreign currency exchange rates are not to be recognized as cash flows. Accordingly, changes in non-cash positions resulting from foreign currency translation shown in the Consolidated Statement of Cash Flows were allocated to changes in trade receivables and trade payables, changes in inventories and net current assets, and changes in non-current provisions. The comparable period of the previous year was restated accordingly.

As at 30/6/2014, valuation-related changes in securities and other financial assets in the amount of TEUR 2,922 were reported as transactions of a cash nature in the cash flow from investing activities, which is in violation of IAS 7.18, according to which transactions of a non-cash nature have to be eliminated.

Besides the corrections of errors required as a consequence of the audit, non-cash changes of deferred taxes were eliminated from the gross cash flow, which resulted in a shift within the cash flow from operating activities. The figures for the previous year's period were restated accordingly, which resulted in a reduction of gross cash flow by TEUR 15,193 as at 30/9/2015, whereas cash flow from operating activities remained unchanged.

Consolidated Companies The consolidated financial statements include all major Austrian and foreign companies in which Wienerberger AG directly or indirectly holds the majority of shares. In accordance with IFRS 11, Schlagmann Poroton GmbH & Co KG and Silike keramika, spol. s.r.o. are classified as joint ventures, because they are managed jointly with an equal partner. Consequently, these two companies are accounted for at equity (50%).

In the first half of 2016, Wienerberger acquired two clay block plants in Poland and Romania and a 51% stake in Talokaivo Oy, a Finnish producer of plastic pipes. Less cash and cash equivalents taken over, the net amount paid for these transactions was TEUR 12,861. For the remaining fully consolidated shares of 49% of Talokaivo Oy, Wienerberger has a call option in the amount of TEUR 4,851 that can be exercised between October 1, 2016 and November 30, 2016; the seller has a put option that can be exercised between December 1, 2016 and January 31, 2017. The discounted put option is shown under financial liabilities. The primary purchase price allocation for these transactions led to an adjustment of goodwill of TEUR 7,052 and to a badwill of TEUR 243. Since the date of first consolidation, the acquired companies generated revenues of TEUR 11,675 and operating EBITDA of TEUR 1,169.Transaction costs for the transactions, recognized under administrative expenses, amounted to a total of TEUR 226.

In the first quarter of 2016, Wienerberger Management Service Szolgáltató és Tanácsadó Kft. (in liquidation) was wound up. The remaining 60% of the shares in the non-consolidated Handel Ceramika Budowlana Sp. z o.o. were taken over by Wienerberger Ceramika Budowlana Sp. z o.o. in the second quarter of 2016. Pipelife Asset Management GmbH was merged into PIPELIFE International GmbH in the third quarter of 2016.

Seasonality Due to the impact of weather conditions on construction activity, the sales volumes reported by Wienerberger for the first and last months of the year are lower than at mid-year. These seasonal fluctuations are reflected in the figures reported for the first and fourth quarters of the year, which generally are lower than those reported for the second and third quarters.

Wienerberger Hybrid Capital The hybrid capital is reported as a component of equity, while the coupon payment is shown as part of the use of earnings in the Statement of Changes in Equity. The issue costs and the discount were deducted from hybrid capital. Wienerberger AG paid a coupon of TEUR 32,500 on February 9, 2016. Moreover, a portion of the 2007 hybrid capital in a nominal value of TEUR 6,000 was bought back at an average price of 99.5% and the accrued coupon of TEUR 20 was paid out. The remaining nominal value of the hybrid capital amounts to TEUR 494,000. The proportionate share of the accrued coupon for the first nine months of 2016 equaled TEUR 24,101; this amount was taken into account in the calculation of earnings per share and led to a reduction of this ratio by EUR 0.21.

Notes to the Consolidated Income Statement Group revenues amounted to TEUR 2,279,685 for the first nine months of 2016 (2015: TEUR 2,283,335), nearly unchanged from the comparable period of the previous year. Operating EBITDA amounted to TEUR 302,589, which is TEUR 9,163 higher than the comparable prior year value of TEUR 293,426. Operating EBIT amounted to TEUR 154,264 for the reporting period, compared with TEUR 142,439 in 2015.

As at September 30, 2016, Wienerberger held 570,289 treasury shares, which were deducted for the calculation of earnings per share. The weighted number of shares outstanding from January 1, 2016 to September 30, 2016 was 116,956,475. The number of shares issued remained unchanged at 117,526,764 as at September 30, 2016.

Notes to the Consolidated Statement of Comprehensive Income Negative foreign exchange differences of TEUR -43,075 (2015: positive differences of TEUR 48,147) resulted, above all, from the British pound and the US dollar. The hedging reserve increased equity by TEUR 15,888 (2015: TEUR 661) after tax. Positive changes in the fair value of available-for-sale financial instruments totaled TEUR 72 (2015: negative changes of TEUR 1,577). The measurement of the pension and severance obligations resulted in actuarial losses of TEUR 10,854. Deferred taxes contained therein amounted to TEUR 2,057. Profit after tax reported for the first nine months of 2016 increased equity by TEUR 94,017 (2015: TEUR 47,778). Total comprehensive income after tax increased equity by TEUR 56,048 for the reporting period (2015: TEUR 95,009).

Notes to the Consolidated Statement of Cash Flows Cash flow from operating activities of TEUR 138,918 was TEUR 62,684 higher than in the prior period (2015: TEUR 76,234). Of the impairments of assets and other valuation effects reported, an amount of TEUR 5,500 (2015: TEUR 10,576) was accounted for by tangible assets resulting from plant closures. Other measurement effects include the valuation of inventories in the amount of TEUR 5,653 (2015: TEUR 6,999), the impairment of trade receivables in the amount of TEUR 1,201 (2015: TEUR 1,880) and the valuation of financial assets in the amount of TEUR 5,886 (2015: TEUR 6,053). Cash outflows of TEUR 110,925 (2015: TEUR 85,065) for investments in non-current assets (incl. financial assets) and acquisitions included TEUR 80,350 (2015: TEUR 78,784) of normal capex for maintenance and investments in technical upgrades as well as TEUR 30,575 (2015: TEUR 6,281) of growth capex for acquisitions and plant expansions. Proceeds from the disposal of non-current assets totaled TEUR 11,898 (2015: TEUR 19,271) and were generated primarily by the sale of investment property. On May 19, 2016, a dividend of EUR 0.20 per share was paid out on 116,956,475 shares in issue, i.e. a total of EUR 23,391,295.00.

Notes to the Consolidated Balance Sheet Normal and growth capex for the first nine months of 2016 increased non-current assets by TEUR 98,048 (2015: TEUR 85,051). Net debt rose by TEUR 15,837 over the level of December 31, 2015 to TEUR 549,953 due to the seasonal increase in working capital. Commitments for the purchase of property, plant and equipment totaled TEUR 26,679 as at the balance sheet date (2015: TEUR 18,460).

Disclosures on Financial Instruments The following table shows the financial assets and liabilities carried at fair value or at amortized cost by Wienerberger and their classification under the three hierarchy levels defined by IFRS 13. No items were reclassified between hierarchy levels during the reporting period.

in TEUR	Accounting method 1)	Level 1	Level 2	Level 3	Carrying amount as at 30/9/2016
Assets Shares in funds	FV	6,868			6,868
Corporate bonds	FV	9,228			9,228
Stock	FV	12			12
Other	FV		42	1,240	1,282
Available-for-sale financial instruments Other non-current receivables	AC	16,108	42 6,836	1,240	17,390 6,836
Derivatives from cash flow hedges	FV		1,495		1,495
Derivatives from net investment hedges	FV		11,765		11,765
Other derivatives	FV		3,525		3,525
Derivatives with positive market value			16,785		16,785
Equity and liabilities Derivatives from cash flow hedges	FV		1,066		1,066
Derivatives from net investment hedges	FV		1,417		1,417
Other derivatives	FV		9,032		9,032
Derivatives with negative market value Long-term loans	AC		11,515 92,848		11,515 89,640
Roll-over	AC		154,173		154,927
Short-term loans	AC		23,621		23,641
Financial liabilities owed to financial institutions Bonds - long-term	AC	436,109	270,642		268,208 397,636
Bonds - short-term	AC	6,712			6,712
Long-term loans	AC		109		109
Commercial paper - short-term	AC		42,220		42,460
Finance leases	AC		65		65
Financial liabilities owed to subsidiaries	AC		15		15
Financial liabilities owed to non-banks		442,821	42,409		446,997
Other current financial liabilities	AC		4,797		4,829

1) FV (Fair Value): financial assets and financial liabilities carried at fair value

AC (Amortized Cost): financial assets and financial liabilities carried at amortized cost

in TEUR	Accounting method 1)	Level 1	Level 2	Level 3	Carrying amount as at 31/12/2015
Assets Shares in funds	FV	6,611			6,611
Corporate bonds	FV	9,449			9,449
Stock	FV	12			12
Other	FV		43	1,244	1,287
Available-for-sale financial instruments		16,072	43	1,244	17,359
Other non-current receivables Derivatives from cash flow hedges	AC FV		4,712 1,263		4,712 1,263
Derivatives from net investment hedges	FV		6,021		6,021
Other derivatives	FV		5,306		5,306
Derivatives with positive market value			12,590		12,590
Liabilities Derivatives from cash flow hedges	FV		594		594
Derivatives from net investment hedges	FV		13,467		13,467
Other derivatives	FV		5,545		5,545
Derivatives with negative market value Long-term loans	AC		19,606 113,979		19,606 110,278
Roll-over	AC		89,767		90,685
Short-term loans	AC		115,841		116,254
Financial liabilities owed to financial institutions Bonds - long-term	AC	419,614	319,587		317,217 397,089
Bonds - short-term	AC	11,063			11,063
Long-term loans	AC		162		164
Commercial paper - short-term	AC		987		1,000
Short-term loans	AC		1,018		999
Financial liabilities owed to subsidiaries	AC		282		282
Financial liabilities owed to non-banks		430,677	2,449		410,597

1) FV (Fair Value): financial assets and financial liabilities carried at fair value

AC (Amortized Cost): financial assets and financial liabilities carried at amortized cost

The fair value of shares in funds, corporate bonds, stocks and the bonds issued by Wienerberger was determined on the basis of market prices (level 1). Other securities recognized at fair value as available-for-sale financial instruments are classified mainly in level 3 of the valuation hierarchy. They serve as reinsurance for pension obligations and netting against the provision is not permitted. Derivatives were valued with net present value methods based on input factors observable in the market, e.g. yield curves and foreign exchange parities (level 2). The fair value of other non-current receivables and non-quoted financial liabilities carried at amortized cost was also determined with net present value methods based on current yield curves (Level 2). Fair value adjustments to the financial liabilities reported in the above table are made by modifying the counterparty risk.

Risk Report

Wienerberger focuses on the early identification and active management of risks in its operating environment within the context of the principles defined by the Managing Board. The major risks identified by the Group during the first nine months of 2016 were the slow recovery of the construction industry in individual markets and the resulting pressure on prices as well as competition from substitution products, such as concrete, steel, wood, limestone, glass or aluminum. Management sees further relevant risks in higher input costs and volatile raw material prices for plastics. Wienerberger regularly monitors the risks in its operating environment as part of its corporate risk management program and takes appropriate actions to counter these risks. The development of the construction industry and major indicators of the demand for building materials are watched closely to permit the timely adjustment of capacity in the plant network to reflect changing market conditions. The price levels on local markets are also monitored regularly, and pricing strategies are adjusted, if necessary. Wienerberger counters the risk of rising input costs by establishing fixed procurement prices at an early point in time and by concluding longterm supply contracts. The risks associated with rising energy costs are reduced through the Group's hedging strategy. The risks expected by Wienerberger during the remaining three months of this year are linked to higher input costs, uncertainty over further developments in the construction industry and continued pressure on prices in individual markets.

The plastic pipe business is substantially influenced by the development of raw material prices. Synthetic polymers account for a major part of the production costs for plastic pipes. The volatility of raw material prices has increased considerably in recent years. Strong fluctuations within individual months require flexible pricing to limit the effects of these price changes and/or pass them on to the market. Fast price management is also a decisive factor for the sustainable protection of earnings. In addition to the price risk, this business is exposed to a raw material supply risk. Any interruption in supplies would invariably disrupt production. Possible shortages on the raw materials market are countered by extensive measures in procurement, production and sales as well as price management.

Wienerberger is exposed to legal risks in connection with increasingly strict environmental, health and safety regulations, which could result in the Group being liable for penalties or claims to compensation for damages in the event of noncompliance.

Related Party Transactions The following companies and persons are considered to be related parties: the members of the Supervisory and Managing Boards, associated companies, joint ventures and non-consolidated subsidiaries of Wienerberger AG as well as the ANC Private Foundation and its subsidiaries.

The ANC Private Foundation operates landfill activities in Austria that were transferred by Wienerberger AG in 2001 and owns a limited amount of assets (in particular real estate). On April 18, 2014 Wienerberger announced a change in the managing board of the ANC Private Foundation through the appointment of two members from Wienerberger's top management, which allows Wienerberger to exercise control over the foundation. In accordance with IFRS 10, the ANC Private Foundation cannot be consolidated because the shareholders of Wienerberger AG, and not the company itself, are entitled to the variable cash flows from the foundation. The total assets of the ANC Private Foundation amounted to TEUR 28,577 as at September 30, 2016 (31/12/2015: TEUR 26,782) and consist primarily of land and buildings totaling TEUR 11,928 (31/12/2015: TEUR 12,035) and securities and liquid funds of TEUR 14,814 (31/12/2015: TEUR 13,645). As at September 30, 2016, the foundation had no financial liabilities.

Wienerberger AG and its subsidiaries finance associated companies, joint ventures and non-consolidated subsidiaries through loans granted at the prevailing market conditions. The outstanding receivables due from associated companies and joint ventures amounted to TEUR 10,900 as at September 30, 2016 (31/12/2015: TEUR 11,124), while the comparable amount for non-consolidated subsidiaries was TEUR 7,342 (31/12/2015: TEUR 7,536). Revenues of TEUR 1,706 were recognized with joint ventures in the first nine months of 2016 (2015: TEUR 574).

Significant Events after the Balance Sheet Date No significant events occurred between the balance sheet date on September 30, 2016 and the release of this condensed interim financial report for publication on November 9, 2016.

Waiver of Audit Review This interim report by Wienerberger AG was neither audited nor reviewed by a certified public accountant.

Statement by the Managing Board

We confirm to the best of our knowledge that these interim financial statements (interim financial report according to IFRS) present a true and fair view of the assets, liabilities, financial position and profit or loss of the Group as required by the applicable accounting standards and that the Group management report presents a true and fair view of the important events that occurred during the first nine months of the financial year and their impact on the interim financial statements, of the principal risks and uncertainties for the remaining three months of the financial year and of the major related party transactions to be disclosed.

The Managing Board of Wienerberger AG Vienna, November 9, 2016

Heimo Scheuch Willy Van Riet Chief Executive Officer Chief Financial Officer

Financial Calendar

October 24, 2016	Start of the quiet period
November 9, 2016	Results for the First Three Quarters of 2016
January 30, 2017	Start of the quiet period
February 22, 2017	Results of 2016: Press and Analysts Conference in Vienna
March 29, 2017	Publication of the 2016 Annual Report on the Wienerberger website
April 24, 2017	Start of the quiet period
May 9, 2017	Record date 148th Annual General Meeting
May 10, 2017	Results for the First Quarter of 2017
May 19, 2017	148th Annual General Meeting in the Austria Center Vienna
May 23, 2017	Deduction of dividends for 2016 (ex-day)
May 24, 2017	Record date for 2016 dividends
May 26, 2017	Payment day for 2016 dividends
June 2017	Publication of the Sustainability Report 2016
July 31, 2017	Start of the quiet period
August 17, 2017	Results for the First Half-Year of 2017:
	Press and Analysts Conference in Vienna
September 2017	Capital Markets Day 2017
October 23, 2017	Start of the quiet period
November 8, 2017	Results for the First Three Quarters of 2017

Information on the Company and the Wienerberger Share

Head of Investor Relations	Klaus Ofner
Shareholders' Telephone	+43 1 601 92 10221
E-Mail	investor@wienerberger.com
Internet	www.wienerberger.com
Vienna Stock Exchange	WIE
Thomson Reuters	WBSV.VI; WIE-VI
Bloomberg	WIE AV
Datastream	O: WNBA
ADR Level 1	WBRBY
ISIN	AT0000831706

Wienerberger Online Annual Report 2015:

http://annualreport.wienerberger.com

Production Sites and Market Positions

Wienerberger is the only multinational producer of bricks, roof tiles, concrete pavers and pipe systems with a total of 202 production sites in 30 countries and activities in international export markets. We are the world's largest producer of bricks and number one on the clay roof tile market in Europe. Furthermore we hold leading positions in pipe systems in Europe and concrete pavers in Central-East Europe.

Wienerberger Markets in North America

Market positions Facing Bricks

Number of sites

Facing Bricks Concrete Products

Distribution Outlets

• Plastic Pipes Calcium silicate

1 Alabama	4			1		15 New York*	3
2 Arkansas*	5				1	16 North Carolina	1	2	1	4
3 Colorado	1	1	1	2		17 Ohio*	2
4 Delaware*	5					18 Oklahoma*	6
5 Georgia	1	2				19 Ontario					1
6 Illinois	3			2		20 Pennsylvania*	3
7 Indiana	1	1		2		21 Quebec					1
8 Kentucky	1			2		22 South Carolina	4			1
9 Maryland*	2					23 Tennessee	1	1	1	6
10 Michigan	2			2		24 Utah*	2
11 Mississippi*	6					25 Virginia	1	1		1
12 Montana	1			1		26 West Virginia*	1
13 Nebraska*	6					27 Wisconsin*	5
14 New Jersey*	3					28 Wyoming	1		1	1

2 Bulgaria	1	2	1			1	1		16 Austria	1	1	7	1	2	4	1
3 Denmark*				2					17 Poland	1	2	7	1	1	5	2
4 Germany	1	4	14	3	4	1	1	2	18 Romania	1	1	4			2
5 Estonia	1			1			1		19 Russia	1		2				1
6 Finland*				1			4		20 Sweden*				2			2
7 France	2	4	5	1	3		1		21 Switzerland	3	1	2		2
8 Greece							1		22 Serbia		1			1
9 Great Britain	2	1		9	4				23 Slovakia	1	1	2		1	1
10 Ireland							1		24 Slovenia	1	1	1		1
11 Italy	1		4						25 Czech Republic	1	1	8		4	1	2
12 Croatia	1	1	1		2	1			26 Turkey							1
13 Macedonia		1			1				27 Hungary	1	1	6		2	2	1
14 Netherlands	1	1	1	7	3	5	2

* In the clay business the Nordic markets (Denmark, Finland, Norway and Sweden), in which we hold a Nr. 2 market position, are managed by a regional management.

Success Story: Bricks for a quiet learning environment

Jérôme de Crozé, architect

Living and learning in a low-energy building – in the university town of Angers to the south-west of Paris this vision has become reality. In 2012, a pioneering student hostel was built there, designed by architect Jérôme de Crozé. It is thanks to the building material used that it meets "next generation" requirements: Wienerberger bricks ensure energy efficiency, safety and durability.

The six-story "Esperanto & Agora" student hostel has 131 rooms and 82 apartments. Its walls and ceilings built with Porotherm bricks have excellent sound insulation characteristics. The brick masonry provides fire safety and has a high heat storage capacity. Individual floor plans and easy accessibility by public transport make student life even more comfortable.

More Success Stories in the Annual Report 2015 and on annualreport.wienerberger.com

Publisher Wienerberger AG A-1100 Vienna, Wienerberg City, Wienerbergstrasse 11 T +43 1 601 92 0, F +43 1 601 92 10425

Inquiries may be addressed to The Managing Board: Heimo Scheuch, CEO; Willy Van Riet, CFO Investor Relations: Klaus Ofner

Concept, Design and Realization Brainds, Marken und Design GmbH Text pages Produced in-house using FIRE.sys

Photo Pilo Pichler

Translation

Conference Consulting, Project manager Eva Fürthauer

The Report on the First Three Quarters of 2016, released on November 9, 2016 is also available for download under www.wienerberger.com.

Available in German and English.

Production: Lindenau Productions GmbH; Print: Paul Gerin GmbH & Co KG