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Wienerberger AG
Earnings Release • May 31, 2022
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Corporate | 31 May 2022 11:33
Wienerberger AG: Moody’s affirms Wienerberger’s Ba1 rating and changes outlook from stable to positive
EQS-News: Wienerberger AG / Key word(s): Rating
Wienerberger AG: Moody’s affirms Wienerberger’s Ba1 rating and changes outlook from stable to positive
31.05.2022 / 11:33
The issuer is solely responsible for the content of this announcement.
Moody’s affirms Wienerberger’s Ba1 rating and changes outlook from stable to positive
Vienna, May 31, 2022 – Moody’s rating action reflects Wienerberger’s strong performance in 2021 that continued in the first quarter 2022. Despite the challenging market environment, Wienerberger gained substantial additional revenue, generated a strong free cash flow and successfully expanded its EBITDA margin.
Wienerberger’s rating is supported by the ongoing transformation of its business model. The Group has already successfully reduced its cyclicality by lowering the revenue share of new build construction from 65% to 49% over the last 10 years. In addition, Wienerberger targets a further reduction of the newbuild segment to 40% until 2030 while expanding even more strongly into the growth markets of renovation and infrastructure.
Furthermore, Moody’s recognized Wienerberger’s long-term energy forward buying strategy, strong market positions, healthy leverage ratio and improved diversification.
Wienerberger appreciates the change in Moody’s outlook from stable to positive, reflecting the transformation of our business model towards enhanced resilience and improved profitability by continuously focusing on ESG, innovation and Operational Excellence.
Wienerberger Group
The Wienerberger Group is a leading international provider of smart solutions for the entire building envelope and for infrastructure. Wienerberger is the world’s largest producer of bricks (Porotherm, Terca) and the market leader in clay roof tiles (Koramic, Tondach) in Europe as well as concrete pavers (Semmelrock) in Eastern Europe. In pipe systems (Steinzeug-Keramo ceramic pipes and Pipelife plastic pipes), the company is one of the leading suppliers in Europe. By acquiring Meridian Brick, Wienerberger further strengthened its position as a leading supplier of facade products in North America. With its total of 215 production sites, the Wienerberger Group generated revenues of € 4.0 billion and EBITDA LFL of € 671 million in 2021.
For further information, please contact:
Claudia Hajdinyak, Head of Corporate Communications Wienerberger AG
t +43 664 828 31 83 | [email protected]
Daniel Merl, Head of Investor Relations Wienerberger AG
t +43 1 601 92 – 10221 | [email protected]
31.05.2022 This Corporate News was distributed by EQS Group AG. www.eqs.com
| Language: | English |
| Company: | Wienerberger AG |
| Wienerbergerplatz 1 | |
| 1100 Wien | |
| Austria | |
| Phone: | +43 1 60 192-0 |
| Fax: | +43 1 60 192-10159 |
| E-mail: | [email protected] |
| Internet: | www.wienerberger.com |
| ISIN: | AT0000831706 |
| Listed: | Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1364573 |
| End of News | EQS News Service |