Wienerberger AG

Quarterly Report • Nov 6, 2009

We are on the right track.*

* Even if it's rocky.

Report on the First Three Quarters of 2009

Earnings Data		1-9/2008	1-9/2009	Chg. in %	Year-end 2008
Revenues	in € mill.	1,926.8	1,416.7	-26	2,431.4
Operating EBITDA 1)	in € mill.	364.7	177.5	-51	440.1
Operating EBIT 1)	in € mill.	212.4	36.7	-83	239.8
Profit before tax	in € mill.	160.9	-225.3	<-100	123.1
Profit after tax 2)	in € mill.	133.0	-198.2	<-100	103.3
Earnings per share	in €	1.28	-2.68	<-100	0.81
Adjusted earnings per share 3)	in €	1.65	-0.01	<-100	1.69
Free cash flow 4)	in € mill.	122.2	109.9	-10	195.4
Maintenance capex	in € mill.	71.7	36.6	-49	98.4
Growth investments	in € mill.	282.2	67.7	-76	407.2

Balance Sheet Data		31.12.2008	30.9.2009	Chg. in %
Equity 5)	in € mill.	2,497.2	2,587.4	+4
Net debt	in € mill.	890.2	540.5	-39
Capital employed	in € mill.	3,252.2	2,991.1	-8
Balance sheet total	in € mill.	4,383.9	4,450.2	+2
Gearing	in %	35.6	20.9	-
Employees 6)		15,162	12,922	-15

Stock Exchange Data		1-12/2008	1-9/2009	Chg. in %
Share price high	in €	39.02	17.24	-56
Share price low	in €	8.24	4.70	-43
Share price at end of period	in €	11.90	14.10	+18
Shares outstanding (weighted) 7)	in 1,000	82,895	82,834	0
Market capitalization at end of period	in € mill.	999.0	1,183.7	+18

Segments 1-9/2009		Central-		Central-	North-			North		Investments
in € mill. and %		East Europe		West Europe 8)	West Europe 8)			America		and Other 9)
Revenues	462.6	(-35%)	300.1	(-13%)	562.5	(-22%)	118.3	(-35%)	-26.8	(+26%)
Operating EBITDA 1)	87.2	(-58%)	28.9	(-21%)	85.4	(-32%)		-9.0 (<-100%)	-15.0	(+19%)
Operating EBIT 1)	39.7	(-75%)	3.0	(-63%)	36.3	(-48%)		-25.7 (<-100%)	-16.6	(+23%)
Total investments	48.2	(-65%)	8.7	(-67%)	33.5	(-76%)	9.0	(-73%)	4.9	(-83%)
Capital employed	821.8	(-6%)	432.3	(-18%)	1,181.8	(-15%)	510.0	(-10%)	45.2	(>100%)
Employees 6)	5,300	(-10%)	2,176	(-10%)	4,098	(-15%)	1,105	(-47%)	243	(+10%)

1) Adjusted for non-recurring income and expenses

2) Before non-controlling interests and accrued hybrid coupon

3) Adjusted for non-recurring income and expenses; after hybrid coupon

4) Cash flow from operating activities minus cash flow from investing activities plus growth investments

5) Equity including non-controlling interests and hybrid capital

6) Average number of employees for the period

7) Adjusted for treasury stock

8) Cross-border trading activities of the Netherlands and Germany were transferred to the Central-West Europe segment as of January 1, 2009

(previously: North-West Europe); the comparable figures from the prior year period were adjusted accordingly

9) Including Group eliminations and holding costs; negative revenues are due to the offset of inter-company sales

Note: In the table of segment data, changes in % to the comparable prior year period are shown in brackets

Chief Executive's Review

Dear Shareholders,

The first nine months of 2009 were shaped by the global economic and financial crisis, which had a much stronger negative impact on new residential construction in the Wienerberger markets than was expected at the beginning of the year. The lack of project financing for housing and, more significantly, weaker consumer confidence triggered a sharp drop in new construction. Wienerberger revenues fell by 26% to € 1,416.7 million and operating EBITDA by 51% to € 177.5 million in comparison with the first three quarters of 2008. Although volume declines were more moderate during the summer, September remained below expectations – especially in the USA and Eastern Europe – and there are no signs that the downturn in the operating business will soon bottom out. The preservation of liquidity therefore remains our top priority.

We accordingly continued to focus on the implementation of our action plan during the third quarter, which was expanded slightly as a reaction to the development of business. In addition to the previously announced shutdown of 26 plants by the end of this year, another five plants in Hungary, Poland, Germany and the USA will be closed or mothballed. Restructuring costs will consequently rise from € 100 to approximately € 120 million (including € 50 million of cash expenses). These steps should increase total savings from the € 150 million originally planned for 2009 to € 155 million when compared to 2008 levels. € 135 million of this target was realized during the first nine months. We are expecting a further € 35 million in cost savings in 2010. Our working capital management program has brought positive results, as is demonstrated by a € 110 million increase in cash flow from the reduction in inventories during the reporting period. During the first nine months we also substantially cut our investments. The success of this action plan has already been reflected in the fact that we have been able to generate positive cash flow despite the significantly weaker operating results.

In order to increase our financial flexibility, we carried out a capital increase in September and strengthened our equity base by roughly € 320 million with the issue of 33.6 million new shares (40% of share capital). This offering was chiefly directed to existing shareholders, who received subscription rights to purchase the new shares at a favorable pre-set price of € 10 per share. We intend to use these funds primarily to reduce debt and thereby strengthen the balance sheet. At this point I would like to thank you for your confidence and support, which will provide Wienerberger with a strong foundation for the creation of value in the future.

My expectations for the further development of business remain cautious because of limited visibility on our markets. Constraints on financing, rising unemployment and the high number of foreclosures in the USA are hindering a turnaround in new residential construction. Operating EBITDA for the second half of 2009 should therefore reflect the level recorded for the first six months. It is too early to speak of recovery from today's perspective because the economic environment is still difficult, but the measures we have implemented lead me to be more optimistic for 2010. Even if demand remains weak, I expect the coming year will bring a considerable improvement in earnings and cash flow due to the cost savings realized through our action plan as well as through better utilization of capacity in our plants.

Heimo Scheuch, Chief Executive Officer of Wienerberger AG

Cost savings of € 135 million realized during the first nine months

Capital increase strengthens the balance sheet by approx. € 320 million (net)

Significant improvement in cash flow and earnings expected for 2010

Financial Review

Earnings

Wienerberger recorded revenues of € 1,416.7 million during the first nine months of 2009, or 26% less than in the comparable prior year period. This decrease comprises -21% of volume effects, -4% of foreign exchange effects from weaker East European currencies and -1% of price effects. An analysis by quarter showed a slower decline over the course of the year, but the more stable development of business during the summer months was not followed by the expected recovery in brick sales. The largest year-on-year volume declines were recorded in the Central-East Europe and North America segments.

Operating EBITDA (before restructuring costs) fell by 51% to € 177.5 million also due to adverse foreign exchange effects of € 13.6 million. This development reflected the weak demand for bricks as well as the cost of plant standstills connected with the working capital management program. The impact on operating EBIT was even stronger at -83% to € 36.7 million. Non-recurring restructuring costs for capacity adjustments and the optimization of administration and sales had a negative effect of € 81.4 million on earnings. € 29.3 million of this total represents cash expenses and € 52.1 million special write-downs. Impairment charges to property, plant and equipment – primarily real estate in Great Britain – amounted to € 28.2 million and increased special write-downs for the reporting period to € 80.3 million.

The deterioration in the operating environment had led to the recognition of impairment charges in June which were based on very conservative market assumptions for the future development of the business (stress tests). Impairment charges to goodwill for the first nine months totaled € 124.4 million – differing from the first half-year only by the sum of foreign exchange effects – and were recognized in the United States, Great Britain, Italy, Germany and France as well as in Scandinavia and the Baltic States. In the United States, which is viewed by Wienerberger as a long-term growth market, the impairment charges were mostly related to the business unit in the Midwest, a region where the crisis in the US automobile industry is judged to prevent a timely recovery. Continued weak demand for facing bricks was the main reason for the impairment charges in Great Britain and the Continental European business units. In Italy, the current market situation has intensified the problems caused by structural excess capacity for clay blocks.

The deterioration in financial results from € -20.7 million in the previous year to € -28.0 million for the first nine months of 2009 resulted from a decrease in income from associates to € 4.8 million (2008: € 16.7 million). This decline was partly offset by a modest improvement in interest result to € -28.1 million (2008: € -30.9 million) as well as positive effects from interest rate hedges.

Profit before tax for the reporting period was clearly negative at € -225.3 million because of restructuring costs and impairment charges to goodwill as well as the decline in operating earnings. The tax rate for the first nine months of 2009 equaled 12.0% (2008: 17.3%). After an adjustment for restructuring costs and impairment charges to goodwill, earnings per share for the reporting period amounted to € -0.01 compared with € 1.65 in 2008 (the weighted average number of shares equaled 82.8 million for the first three quarters and 82.9 million in 2008). The calculation of earnings per share also includes the deduction of the accrued coupon on the hybrid capital.

Revenues and operating EBITDA

Cash Flow

Wienerberger recorded a cash flow of € 139.0 million from operating activities during the first nine months of 2009 as a result of the decline in earnings (2008: € 175.1 million). The primary causes of this year-on-year decrease were lower operating profit and restructuring costs. Cash flow from operating activities was improved by € 110 million from the reduction of inventories as part of the active capacity management program. Together with additional savings on costs and replacement investments, Wienerberger generated an impressive free cash flow of € 109.9 million in this difficult economic environment (2008: € 122.2 million).

Cash outflows for investments (including financial investments) amounted to € 104.3 million for the reporting period, whereby € 36.6 million, or roughly 35%, was directed to maintenance, replacement and rationalization investments (maintenance capex) and € 67.7 million, or 65%, to the completion of projects started during the past year (growth investments). A € 32.5 million coupon on the hybrid capital was paid in February, while the dividend for the 2008 financial year was waived as part of the cash preservation strategy.

Asset and Financial Position

In order to strengthen the balance sheet and capital structure, Wienerberger carried out a capital increase in September 2009 through the issue of 33.6 million new shares (40% of share capital). This offering was directed primarily to existing shareholders, who received subscription rights to two new shares for every five old shares at a favorable pre-set price of € 10 per share. 98% of the subscription rights were exercised, and the remaining shares were placed with institutional investors. The capital increase generated proceeds of € 320.1 million after the deduction of fees and taxes – of this total, € 33.6 million were received on September 30, 2009. The outstanding € 292.0 million are reported as of September 30, 2009 as receivables from the capital increase and were transferred to Wienerberger until October 5, 2009. The proceeds from the capital increase will be used to successively repay debt over the coming months. The first repayments will be directed to loans due in 2010, while the remaining funds will be used to optimize the redemption profile of financial liabilities.

As a result of the capital increase, Group equity rose to € 2,587.4 million during the reporting period despite the payment of the hybrid coupon and net profit that was negatively affected by restructuring costs and impairment charges to goodwill. Negative currency translation differences of € 11.9 million recognized directly in equity were largely offset by positive changes of € 10.2 million in the hedging reserve during the first nine months.

The primary goal of Wienerberger in these uncertain times remains the protection of liquidity and the preservation of a strong capital base, with the objective of regaining an investment-grade credit rating over the mid-term. Net debt was reduced from € 978.6 million at half-year end to € 540.5 million as of September 30, 2009, with roughly € 320 million of this decrease coming from the capital increase and nearly € 118 million from cash flow. Gearing improved from 43.3% to 20.9% during the same period. As of September 30, 2009 cash and cash equivalents amounted to € 268.6 million and the receivables from the capital increase, which were paid in early October, totaled € 292.0 million.

€ 110 million liquid funds from inventory reduction

Capital increase brings € 320.1 million (net) of new funds

Equity strengthened by capital increase

Net debt reduced from € 978.6 million to € 540.5 million

Plant closings and extensive temporary shutdowns to reduce inventories

Expansion of action plan 2009 to include the closing or mothballing of five plants

Roughly € 135 million of cost savings already realized

Cost savings expected to reach approx. € 155 million in 2009

Capacity Management

Wienerberger reacted to the sharp drop in demand during the first quarter of 2009 with an extensive action plan. After closing or mothballing 27 plants in 2008, the measures defined for 2009 initially involved the shutdown or mothballing of another 26 plants to adjust capacity and fixed costs to the market situation as well as active working capital management to reduce inventories by at least € 100 million, a decrease in fixed costs through extensive restructuring in sales and administration, and a cutback in investments to a minimum.

As the development of business after summer remained below expectations, the action plan was consequently expanded to include the closing or mothballing of five additional plants in Hungary, Germany, Poland and the USA. An estimated number of 31 plants will be closed or mothballed in 2009 at a cost of approximately € 120 million (€ 50 million of cash expenses and € 70 million of special write-downs) – 24 of these plants were shut down during the reporting period and led to € 81.4 million of restructuring costs (€ 29.3 million of cash expenses and € 52.1 million of special write-downs). In addition, extensive standstills are also planned for the fourth quarter to control inventories. These temporarily closed locations and mothballed production lines represent a substantial capacity reserve that can be reactivated quickly as needed.

Cost Reduction

The measures implemented to date led to a year-on-year decrease of roughly € 135 million in personnel and maintenance costs during the first nine months of 2009. In addition, cash flow was improved by € 110 million from the reduction of inventories in the reporting period.

Cost savings are forecasted to total € 155 million for the full reporting year. In 2010 we expect additional savings of at least € 35 million from the measures implemented during the second half of 2009, which represents a cumulative reduction of € 190 million in fixed costs compared with 2008.

The Third Quarter of 2009

Group revenues fell by 22% year-on-year to € 518.5 million for the third quarter, and operating EBITDA before restructuring costs dropped 40% to € 76.9 million. The decline in revenues slowed somewhat in relation to the second quarter of 2009, but still remained below expectations due to the lower comparative values for the third quarter of 2008. Heavy volume declines were again registered primarily in Central-East Europe and North America. The demand for bricks in the USA fell by roughly 40% during the third quarter, and there are no signs of a reversal in this downward trend. Revenues in the North America segment were 34% below the prior year level and operating EBITDA was negative at € -1.1 million, in spite of stable brick prices and a moderate improvement in the Canadian business unit. Central-East Europe reported a decline of 28% in revenues and 48% in operating EBITDA, also because of the strong prior year comparative values. All countries in the region recorded a substantial drop in volumes and lower average prices than in 2008, whereby Hungary was hardest hit by the downturn. In North-West Europe, revenues fell 19% to € 182.3 million. The effects of the financial crisis had a strong negative impact on project-driven housing construction in the Netherlands and caused lower sales volumes. The weaker demand in the Belgian market was moderated by a reduction in the value added tax on building materials. After a sharp decline during the first half-year, volumes in Great Britain rose slightly above the (low) prior year level during September. In France, the downward trend in single and two-family housing construction slowed after a collapse at the beginning of the year. EBITDA in North-West Europe was negatively influenced by the mothballing of production capacity and dropped 32% to € 24.0 million. In Central-West Europe, where construction reached a historical low in earlier reporting periods – especially in Germany – revenues fell by a further 6% to € 117.7 million and operating EBITDA declined 5% to € 17.5 million.

Revenues in € mill.	7-9/2008	7-9/2009	Chg. in %
Central-East Europe	261.4	187.1	-28
Central-West Europe 1)	125.1	117.7	-6
North-West Europe 1)	225.0	182.3	-19
North America	63.4	42.0	-34
Investments and Other 2)	-11.7	-10.6	+9
Wienerberger Group	663.2	518.5	-22

Operating EBITDA 3) in € mill.	7-9/2008	7-9/2009	Chg. in %
Central-East Europe	73.8	38.7	-48
Central-West Europe 1)	18.4	17.5	-5
North-West Europe 1)	35.2	24.0	-32
North America	5.3	-1.1	<-100
Investments and Other 2)	-3.6	-2.2	+39
Wienerberger Group	129.1	76.9	-40

1) The cross-border trading activities of the Netherlands and Germany were transferred to the Central-West Europe segment as of January 1, 2009 (previously: North-West Europe); the comparable figures from the prior year period were adjusted accordingly.

2) Including Group eliminations and holding company costs; negative revenues due to the offset of inter-company sales in this segment 3) Before restructuring costs and impairment charges to property, plant and equipment and goodwill

Effects of economic crisis also led to revenue and earnings decline in Q3

Segments

Central-East Europe

New residential construction remained below the high prior year level in all countries of the region during the first nine months, but the extent of the downturn differed from country to country. After record results in 2008, revenues fell by 35% to € 462.6 million and operating EBITDA by 58% to € 87.2 million. Negative foreign exchange effects reduced revenues by € 54.5 million and operating EBITDA by € 11.4 million. The cost of temporary plant standstills to reduce inventories and lower average prices resulted in lower margins throughout the entire region. Central-East Europe recorded 33% of Group revenues and 49% of operating EBITDA during the first nine months of 2009.

The revenue decline in the Central-East Europe segment totaled 54% year-on-year for the first quarter, and subsequently slowed to 27% in the second quarter and 28% in the third quarter. These figures have not yet shown any signs of stabilization, even if developments differed in the individual countries. In Poland, housing starts fell by 24% during the first nine months and building permits by 23%. Declining revenues were paralleled by a drop in margins below the prior year level due to the lower utilization of capacity. In the Czech Republic and Slovakia, weaker volumes and flexible pricing policies were responsible for a decline in earnings. In Hungary, the most difficult market in the region, we assume the contraction in new residential construction will reach roughly 40% in 2009. Extensive restructuring measures and extended plant closings caused earnings to fall significantly below the 2008 level. The economic downturn also triggered a sharp drop in revenues and earnings in Romania. In Bulgaria – where the building materials sector has weakened substantially since the beginning of this year and competitive pressure has risen, above all due to the high share of imports from neighboring countries – Wienerberger was able to defend its market position. The countries in Southeastern Europe (Slovenia, Croatia and Serbia) reported lower revenues and earnings in line with economic development.

We expect a continuation of the downward trend for the building materials sector in Central-East Europe through the end of this year. As a reaction to weaker demand, a total of 19 plants are to be closed or mothballed during 2009 – most of them mothballed with the strongest emphasis on Hungary. Extended plant closings over the coming months will also have an added negative effect on earnings. For the full year we expect lower volumes as well as a substantial year-on-year drop in earnings due to standstill costs and lower average prices. However, the extensive measures implemented in 2009 should lead to an improvement in margins for this segment in 2010.

Central-East Europe		1-9/2008	1-9/2009	Chg. in %
Revenues	in € mill.	716.1	462.6	-35
Operating EBITDA 1)	in € mill.	209.2	87.2	-58
Operating EBIT 1)	in € mill.	158.0	39.7	-75
Total investments	in € mill.	137.2	48.2	-65
Capital employed	in € mill.	871.5	821.8	-6
Employees		5,871	5,300	-10
Sales volumes clay blocks	in mill. NF	3,199	2,355	-26
Sales volumes pavers	in mill. m²	7.29	8.44	+16
Sales volumes concrete roof tiles 2)	in mill. m²	15.58	11.26	-28

1) Before restructuring costs and impairment charges to property, plant and equipment and goodwill

2) Sales volumes are not proportional, but reflect 100%

Q3 Revenues by Segment

1 Central-East Europe: 33% 2 Central-West Europe: 21% 3 North-West Europe: 40% 4 North America: 8%

5 Investments and Other: -2%

Q3 Operating EBITDA by Segment

1 Central-East Europe: 49% 2 Central-West Europe: 16% 3 North-West Europe: 48%

4 North America: -5%

5 Investments and Other: -8%

Central-West Europe

Revenues in Central-West Europe declined 13% to € 300.1 million and operating EBITDA 21% to € 28.9 million during the first nine months of 2009. Lower single and two-family housing construction in Germany and pressure on brick prices in a weaker Italian market were primarily responsible for this development. Central-West Europe generated 21% of Group revenues and 16% of operating EBITDA during the reporting period.

The demand for building materials in Germany remained weak throughout the first nine months of 2009. A new historical low in 2008 was followed by a further decline in building permits this year. The renovation sector – a key driver for clay roof tile sales and the target market for 65% of clay roof tiles in this country – also failed to produce any positive momentum. Sales volumes of clay blocks were also negatively influenced by the downturn in Central-East Europe, which triggered a drop in exports to this region. Although average prices remained stable, lower revenues were the result. In order to reduce working capital, further plant standstills are planned for the winter season. In Italy, structural overcapacity in the brick industry has been aggravated by the decline in new residential construction since 2008 and the pressure on prices has consequently intensified. Earnings were negatively affected by falling brick prices and standstill costs. Revenues and earnings in Switzerland also declined in comparison with the prior year because of slightly weaker single and two-family housing construction.

We expect a year-on-year earnings decline in Central-West Europe for 2009 because of the prevailing market weakness. This situation will be intensified by the cost of temporary standstills to reduce inventories and lower earnings in Italy. In 2009, four plants will be closed and extensive structural measures are being implemented to optimize sales and administration as part of the restructuring program. As a consequence, we expect a substantially higher capacity utilization, especially in Germany, which will lead to an increase in earnings in this segment in 2010.

Central-West Europe 1)		1-9/2008	1-9/2009	Chg. in %
Revenues	in € mill.	346.9	300.1	-13
Operating EBITDA 2)	in € mill.	36.4	28.9	-21
Operating EBIT 2)	in € mill.	8.2	3.0	-63
Total investments	in € mill.	26.4	8.7	-67
Capital employed	in € mill.	525.6	432.3	-18
Employees		2,428	2,176	-10
Sales volumes clay blocks	in mill. NF	1,243	998	-20
Sales volumes facing bricks	in mill. WF	131	116	-11
Sales volumes clay roof tiles 3)	in mill. m²	6.73	6.01	-11

1) The cross-border trading activities of the Netherlands and Germany were reclassified to Central-West Europe beginning in 2009 (previously: North-West Europe); the comparable prior year data were adjusted accordingly

2) Before restructuring costs and impairment charges to property, plant and equipment and goodwill

3) Sales volumes of clay roof tiles include accessories

Earnings decline caused by weaker markets

New residential construction in Germany remains weak

Earnings growth expected for 2010 in Central-West Europe

North-West Europe

Revenues in North-West Europe fell by 22% to € 562.5 million and EBITDA dropped 32% to € 85.4 million during the first nine months of 2009. Negative foreign exchange effects from the British pound reduced revenues by € 12.5 million and EBITDA by € 1.6 million. Lower sales volumes in all countries of this segment as well as standstill costs and stable prices led to a decline in margins. This segment recorded 40% of revenues and 48% of operating EBITDA for the Group.

Due to a reduction in the value added tax on building materials in Belgium, the renovation market was characterized by only moderate weakness, while new residential construction contracted sharply during the first nine months. In the Netherlands, where new residential construction is heavily dependent on project business, substantial volume declines were recorded because of limited availability of financing. After a sharp drop during the first half-year, sales volumes in Great Britain rose slightly above the (low) prior year level in September. On the French market, the downward trend in single and two-family housing construction slowed after a very weak start in 2009. In all countries of the region, standstill costs related to the lower utilization of capacity had a negative impact on earnings.

Increase in earnings expected for 2010

Further sharp drop in demand for bricks in USA

Lower revenues and earnings in North-West Europe

Despite a slight rise in building permits and mortgage loans during recent months and first signs of stabilizing demand in Great Britain, we expect a continuation of the difficult market environment in North-West Europe as well as a further decline in revenues and earnings during the fourth quarter. A total of five plants in North-West Europe are to be closed or mothballed during 2009. The implementation of the necessary structural measures has improved our position in the countries of North-West Europe and should support an increase in earnings for this segment during 2010.

North-West Europe 1)		1-9/2008	1-9/2009	Chg. in %
Revenues	in € mill.	716.8	562.5	-22
Operating EBITDA 2)	in € mill.	124.9	85.4	-32
Operating EBIT 2)	in € mill.	70.0	36.3	-48
Total investments	in € mill.	139.5	33.5	-76
Capital employed	in € mill.	1,394.2	1,181.8	-15
Employees		4,837	4,098	-15
Sales volumes clay blocks	in mill. NF	893	716	-20
Sales volumes facing bricks	in mill. WF	1,221	895	-27
Sales volumes clay roof tiles 3)	in mill. m²	13.10	10.83	-17

1) The cross-border trading activities of the Netherlands and Germany were reclassified to Central-West Europe beginning in 2009 (previously: North-West Europe); the comparable prior year data were adjusted accordingly

2) Before restructuring costs and impairment charges to property, plant and equipment and goodwill

3) Sales volumes of clay roof tiles include accessories

North America

The North America segment reported a 35% drop in revenues to € 118.3 million and negative operating EBITDA of € -9.0 million for the first nine months of 2009. The demand for bricks in the USA also fell sharply during the third quarter and showed no signs of stabilizing, in spite of a slight rise in housing starts issued. Despite the weak operating environment, extensive temporary plant closings were successful in reducing inventories. However, these measures reduced the utilization of capacity to a historically low level of less than 20% and had a negative impact on earnings in this segment. Prices remained stable throughout the reporting period. North America recorded 8% of Group revenues, while the share of operating EBITDA equaled -5%.

We continued to adjust our cost structures to reflect the low level of demand through the reduction of nearly 1,000 employees over the past 12 months – the workforce now represents less than one-third of the 2006 level. The economic downturn in the USA has still not bottomed out, and the real estate crisis is not yet over. Therefore another three plants are to be closed or mothballed in the United States during 2009. An October report by the NAHB (National Association of Home Builders) shows a further slight decrease in building permits from 580,000 to 573,000 units. The number of foreclosures continues to rise, which is increasing the supply of available properties. We therefore assume the market environment will remain very weak over the coming months. Our year-end forecasts show additional volume declines and negative operating earnings in North America. However, we expect clearly positive operating earnings in 2010 because of the extensive measures implemented to date and improved capacity utilization.

North America		1-9/2008	1-9/2009	Chg. in %
Revenues	in € mill.	183.4	118.3	-35
Operating EBITDA 1)	in € mill.	12.8	-9.0	<-100
Operating EBIT 1)	in € mill.	-2.3	-25.7	<-100
Total investments	in € mill.	33.9	9.0	-73
Capital employed	in € mill.	569.2	510.0	-10
Employees		2,092	1,105	-47
Sales volumes facing bricks	in mill. WF	439	245	-44

1) Before restructuring costs and impairment charges to property, plant and equipment and goodwill

Investments and Other

The Investments and Other segment is comprised primarily of the holding company and related costs and the brick activities in India as well as the non-core businesses of the Wienerberger Group (in particular real estate). Revenues fell by 20% to € 8.6 million, while operating EBITDA improved 19% to € -15.0 million, mainly due to headcount reductions and a decline in holding company administrative expenses. The increase in capital employed reflects the capitalization of equipment at our newly constructed plant in India. The 50% investment in Pipelife is consolidated at-equity and is therefore not included under operating results in this segment.

Investments and Other 1)		1-9/2008	1-9/2009	Chg. in %
Revenues	in € mill.	10.8	8.6	-20
Operating EBITDA 2)	in € mill.	-18.6	-15.0	+19
Operating EBIT 2)	in € mill.	-21.6	-16.6	+22
Capital employed	in € mill.	10.9	45.2	>100
Employees		220	243	+10

1) Revenues excluding Group eliminations, earnings including holding company costs

2) Before restructuring costs and impairment charges to property, plant and equipment and goodwill

These unaudited interim financial statements include information and forecasts that are based on the future development of the Wienerberger Group and its member companies. These forecasts represent estimates, which were prepared based on the information available at this time. If the assumptions underlying these forecasts are not realized or risks – as described in the risk report – should in fact occur, actual results may differ from the results expected at this time. These unaudited interim financial statements are not connected with a recommendation to buy or sell shares in Wienerberger AG.

Extensive adjustment of cost structures in US units

Pipelife is included in this segment at-equity

Interim Financial Statements (IFRS) Wienerberger Group

Income Statement

in TEUR	7-9/2009	7-9/2008	1-9/2009	1-9/2008
Revenues	518,535	663,144	1,416,660	1,926,786
Cost of good sold	-355,335	-424,930	-994,096	-1,233,093
Gross profit	163,200	238,214	422,564	693,693
Selling expenses	-100,077	-123,211	-295,259	-361,846
Administrative expenses	-28,974	-36,609	-92,772	-114,412
Other operating expenses	-11,225	-10,447	-32,161	-28,843
Other operating income	5,947	8,494	34,309	23,829
Profit/Loss before restructuring costs and impairment charges to property, plant and equipment and goodwill	28,871	76,441	36,681	212,421
Restructuring costs and impairment charges to property, plant and equipment	-22,399	-25,030	-109,573	-30,832
Impairment charges to goodwill	1,001	0	-124,389	0
Profit/Loss after restructuring costs and impairment charges to property, plant and equipment and goodwill	7,473	51,411	-197,281	181,589
Income from investments in associates	4,612	6,763	4,760	16,719
Interest and similar income	4,893	11,766	14,542	36,368
Interest and similar expenses	-14,655	-22,660	-42,617	-67,233
Other financial results	-4,781	-4,333	-4,683	-6,513
Financial results	-9,931	-8,464	-27,998	-20,659
Profit/Loss before tax	-2,458	42,947	-225,279	160,930
Income taxes	8,273	-8,554	27,064	-27,900
Profit/Loss after tax	5,815	34,393	-198,215	133,030
Thereof attributable to non-controlling interests	-84	456	-899	2,316
Thereof share planned for hybrid capital holders	8,192	8,170	24,308	24,331
Thereof attributable to equity holders	-2,293	25,767	-221,624	106,383
Adjusted earnings per share (in EUR)	0.16	0.61	-0.01	1.65
Earnings per share (in EUR)	-0.03	0.31	-2.68	1.28
Diluted earnings per share (in EUR)	-0.03	0.31	-2.68	1.28

Statement of Comprehensive Income

		1-9/2009			1-9/2008
		Non-controlling		Non-controlling
in TEUR	Group	interests	Total	Group	interests	Total
Profit/Loss after tax	-197,316	-899	-198,215	130,714	2,316	133,030
Foreign exchange adjustment	-10,730	-255	-10,985	25,951	1,171	27,122
Foreign exchange adjustment to investments
in associates	-950	0	-950	1,569	0	1,569
Hedging reserves	10,185	0	10,185	-2,325	2	-2,323
Other changes 1)	139	0	139	-391	0	-391
Other comprehensive income 2)	-1,356	-255	-1,611	24,804	1,173	25,977
Total comprehensive income	-198,672	-1,154	-199,826	155,518	3,489	159,007
Thereof share planned for hybrid capital holders	24,308			24,331
Thereof comprehensive income attributable
to equity holders	-222,980			131,187

1) Changes in the fair value of available-for-sale securities are included under "other changes".

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

Balance Sheet

in TEUR	30.9.2009	31.12.2008
ASSETS
Intangible assets	635,813	769,451
Property, plant and equipment	1,946,529	2,075,878
Investment property	31,447	30,543
Investments in associates	117,255	115,679
Other financial assets	19,456	19,464
Deferred tax assets	32,569	35,071
Non-current assets	2,783,069	3,046,086
Inventories	617,920	719,995
Trade receivables	256,577	187,750
Other current receivables	133,696	133,822
Securities and other financial assets	98,381	89,445
Receivables from capital increase	291,979	0
Cash and cash at bank	268,567	206,835
Current assets	1,667,120	1,337,847
Total Assets	4,450,189	4,383,933
Equity and Liabilities
Issued capital	83,948	83,948
Share premium	829,408	829,408
Capital increase (registration in progress) 1)	320,067	0
Hybrid capital	492,896	492,896
Retained earnings	1,149,780	1,368,920
Treasury stock	-40,697	-40,697
Translation reserve	-272,379	-260,699
Non-controlling interests	24,327	23,415
Equity	2,587,350	2,497,191
Employee-related provisions	65,410	68,049
Provisions for deferred taxes	99,747	126,457
Other non-current provisions	68,514	66,532
Long-term financial liabilities	998,979	1,011,600
Other non-current liabilities	55,704	52,158
Non-current provisions and liabilities	1,288,354	1,324,796
Other current provisions	59,465	55,503
Short-term financial liabilities	200,440	174,858
Trade payables	138,074	177,319
Other current liabilities	176,506	154,266
Current provisions and liabilities	574,485	561,946
Total Equity and Liabilities	4,450,189	4,383,933

1) The capital increase carried out in September 2009 was filed with the Austrian company register on September 30, 2009 and recorded on October 1, 2009.

Changes in Equity Statement	2009			2008
	Non-controlling			Non-controlling
in TEUR	Group	interests	Total	Group	interests	Total
Balance on 1.1.	2,473,776	23,415	2,497,191	2,646,716	25,993	2,672,709
Total comprehensive income	-198,672	-1,154	-199,826	155,518	3,489	159,007
Dividend payments/hybrid coupon	-32,500	-224	-32,724	-152,609	-1,854	-154,463
Capital increase/decrease	0	0	0	0	4,515	4,515
Capital increase (registration in progress) 1)	320,067	0	320,067	0	0	0
Increase/decrease in non-controlling interests	0	2,290	2,290	0	-4,824	-4,824
Increase/decrease in treasury stock	0	0	0	-9,318	0	-9,318
Expenses from stock option plans	352	0	352	1,495	0	1,495
Balance on 30.9.	2,563,023	24,327	2,587,350	2,641,802	27,319	2,669,121

1) The capital increase carried out in September 2009 was filed with the Austrian company register on September 30, 2009 and recorded on October 1, 2009.

Cash Flow Statement

in TEUR	1-9/2009	1-9/2008
Profit/Loss before tax	-225,279	160,930
Depreciation and amortization	140,861	152,263
Impairment charges to goodwill	124,389	0
Impairment of property, plant and equipment	80,324	11,179
Write-ups of fixed and financial assets	-893	-37
Increase/decrease in long-term provisions	-27,778	19,333
Income from associates	-4,760	-16,719
Income/loss from the disposal of fixed and financial assets	-13,690	-4,059
Interest result	28,075	30,865
Interest paid	-36,715	-66,898
Interest received	12,464	34,141
Income taxes paid	-2,999	-16,023
Gross cash flow	73,999	304,975
Increase/decrease in inventories	109,957	-74,490
Increase/decrease in trade receivables	-62,150	-111,307
Increase/decrease in trade payables	-42,787	8,640
Increase/decrease in other net current assets	60,952	32,588
Changes in non-cash items resulting from foreign exchange translation	-935	14,671
Cash flow from operating activities	139,036	175,077
Proceeds from the sale of assets (including financial assets)	15,808	20,283
Purchase of property, plant and equipment and intangible assets	-100,770	-260,864
Payments made for investments in financial assets	-245	-7,153
Increase/decrease in securities and other financial assets	-9,830	5,657
Net payments made for the acquisition of companies	-3,340	-93,035
Net proceeds from the sale of companies	1,451	0
Cash flow from investing activities	-96,926	-335,112
Increase/decrease in long-term financial liabilities	-2,778	117,097
Increase/decrease in short-term financial liabilities	17,801	92,977
Dividends paid by Wienerberger AG	0	-120,109
Hybrid coupon paid	-32,500	-32,500
Dividends paid to and other changes in non-controlling interests	-224	-2,330
Dividend payments from associates	3,632	0
Capital increase Wienerberger AG	33,579	0
Purchase of treasury stock	0	-9,318
Cash flow from financing activities	19,510	45,817
Change in cash and cash at bank	61,620	-114,218
Effects of exchange rate fluctuations on cash held	112	514
Cash and cash at bank at the beginning of the period	206,835	293,373
Cash and cash at bank at the end of the period	268,567	179,669

Segments

1-9/2009 in TEUR	Central-East Europe	Central-West Europe 2)	North-West Europe 2)	North America	Investments and Other 3)	Group Eliminations	Wienerberger Group
Third party revenues	459,807	286,893	550,375	118,278	568		1,415,921
Inter-company revenues	2,787	13,185	12,170	0	8,018	-35,421	739
Total revenues	462,594	300,078	562,545	118,278	8,586	-35,421	1,416,660
Operating EBITDA 1)	87,224	28,890	85,366	-9,023	-14,915		177,542
Operating EBIT 1)	39,673	3,037	36,277	-25,691	-16,615		36,681
Restructuring costs and impairment of assets	-48,634	-9,843	-42,376	-7,921	-857		-109,573
Impairment charges to goodwill	-12,044	-29,433	-33,727	-49,185	0		-124,389
Total investments	48,220	8,723	33,531	8,991	4,890		104,355
Capital employed	821,837	432,259	1,181,831	509,961	45,244		2,991,132
Employees	5,300	2,176	4,098	1,105	243		12,922
1-9/2008
Third party revenues	712,568	326,970	702,403	183,350	416		1,925,707
Inter-company revenues	3,516	19,950	14,410	0	10,370	-47,167	1,079
Total revenues	716,084	346,920	716,813	183,350	10,786	-47,167	1,926,786
Operating EBITDA 1)	209,221	36,372	124,907	12,802	-18,618		364,684
Operating EBIT 1)	157,974	8,231	70,006	-2,323	-21,468		212,420
Restructuring costs and impairment of assets	-10,168	-4,471	-15,665	-528	0		-30,832
Impairment charges to goodwill	0	0	0	0	0		0
Total investments	137,226	26,437	139,534	33,911	16,791		353,899
Capital employed	871,487	525,639	1,394,240	569,162	10,887		3,371,415
Employees	5,871	2,428	4,837	2,092	220		15,448

1) Before restructuring costs, impairment charges to property, plant and equipment and goodwill

2) The cross-border trading activities of the Netherlands and Germany were reclassified to Central-West Europe beginning in 2009 (previously: North-West Europe); the comparable prior year data were adjusted accordingly.

3) Investments and Other includes holding company costs as well as Wienerberger activities in India.

Notes to the Interim Financial Statements

Basis of Preparation

The interim report as of September 30, 2009 was prepared in accordance with the principles set forth in International Financial Reporting Standards, Guidelines for Interim Reporting (IAS 34). The accounting and valuation methods in effect on December 31, 2008 remain unchanged. For additional information on the accounting and valuation principles, see the financial statements as of December 31, 2008, which form the basis for these interim financial statements. Wienerberger manages its business on a regional basis, which gives local operating management responsibility for all products within a country. Segment reporting reflects the regional focus of the Wienerberger Group.

Consolidation Range

The consolidated financial statements include all major Austrian and foreign companies in which Wienerberger AG directly or indirectly owns the majority of shares. Joint venture companies of the Schlagmann and Bramac Groups are consolidated on a proportional basis at 50%. One brick merchant in the UK was initially consolidated as of January 1, 2009. Semmelrock Ebenseer GmbH & Co KG, which resulted from a business combination, as well as Lusit KG and Lusit GmbH were included in the consolidated financial statements as of May 1, 2009 based on preliminary values; these acquisitions did not lead to the recognition of any material goodwill. VVT Vermögensverwaltung GmbH was deconsolidated as of September 30, 2009; the gain on the deconsolidation totaled TEUR 1,404.

The comparable prior year period from January 1, 2008 to September 30, 2008 did not include IGM Ciglana d.o.o. Petrinja in Croatia or Semmelrock Stein und Design EOOD in Bulgaria (both consolidated as of December 31, 2008) or the investment in EUCOSO sp. Z.o.o. in Poland (consolidated at equity as of December 31, 2008). Changes in the consolidation range increased revenues by TEUR 13,464 and EBITDA by TEUR 2,963 for the period from January 1, 2009 to September 30, 2009.

Seasonality

The sales volumes recorded by Wienerberger during the first and last months are lower than at mid-year due to the adverse weather impact on construction activity. These seasonal fluctuations are demonstrated by data from the first or fourth quarters of the year, which generally lie below results for the second and third quarters.

Capital Increase

Wienerberger AG successfully carried out a capital increase in September 2009 through the issue of 33,579,075 new shares, which generated proceeds of TEUR 320,067 after the deduction of transaction costs. The capital increase was reported to the Austrian company register on September 30, 2009 and recorded on October 1, 2009; the increase in share capital consequently took effect on this date. Therefore, the capital increase is not included under issued capital and appropriated share premium as of September 30, 2009, but is shown as a special position under equity. A partial payment of TEUR 33,579 was received on September 30, 2009; the proceeds outstanding as of the closing date (TEUR 291,979) are reported separately on the balance sheet. Wienerberger AG received the remaining funds until October 5, 2009.

Wienerberger Hybrid Capital

On February 9, 2009 Wienerberger AG paid a TEUR 32,500 coupon for the hybrid bond issued in 2007. The hybrid bond is reported as a component of equity, while the coupon payment is shown as part of the use of earnings on the changes in equity statement. The issue costs and the discount were deducted from retained earnings. The proportional share of the accrued coupon interest for the first nine months of 2009 equaled TEUR 24,308 TEUR; this amount was reflected in the calculation of earnings per share and led to a reduction of EUR 0.29 in this ratio.

Notes to the Income Statement

Group revenues fell 26% below the comparable prior year period and totaled TEUR 1,416,660 for the first nine months of 2009. EBITDA before restructuring costs equaled TEUR 177,542, which is 51% below the TEUR 364,684 recorded in the first three quarters of the previous year.

The restructuring costs recognized in the reporting period totaled TEUR 81,355 (2008: TEUR 30,832), whereby TEUR 52,105 TEUR (2008: TEUR 11,179) represented impairment charges to property, plant and equipment in connection with restructuring programs and TEUR 29,250 (2008: TEUR 19,653) involved other restructuring and optimization measures. Most of these costs are related to redundancy plans and expenses for the permanent shutdown of plants. The impairment tests according to IAS 36 on June 30, 2009 indicated a need to recognize impairment charges of TEUR 28,218, whereby the majority of these charges represented the write-down of property in the UK. Restructuring costs and impairment charges to property, plant and equipment totaled TEUR 109,573 for the reporting period.

Impairment testing in accordance with IAS 36 did not result in any need to recognize additional impairment charges to goodwill during the third quarter. As a result of foreign exchange differences, impairment charges for the first nine months totaled TEUR 124,389: TEUR 49,184 of this amount are related to the United States, TEUR 21,059 to Italy, TEUR 20,537 to brick activities in the UK, TEUR 10,000 to facing brick activities in France, TEUR 8,374 to facing brick and roof tile activities in Germany, TEUR 5,514 to Finland, TEUR 5,000 to Estonia, TEUR 3,191 to Norway and TEUR 1,530 to Semmelrock paver activities in the Czech Republic. The after-tax cost of capital used for impairment testing in the Wienerberger Group remained unchanged at 6.91%, whereby the following different costs of capital were applied on a regional basis: 6.23% in the USA, 6.31% in the UK and 10.8% in Russia.

Operating profit after restructuring costs and impairment charges to property, plant and equipment and goodwill amounted to TEUR -197,281 for the first nine months of 2009, compared with TEUR 181,589 in 2008. The number of shares outstanding as of September 30, 2009 was 83,947,689. Wienerberger held 1,113,603 treasury shares as of the balance sheet date, which were deducted in the calculation of earnings per share. The weighted average number of shares outstanding from January 1, 2009 to September 30, 2009 was 82,834,086. The shares from the capital increase were added as of October 1, 2009.

Notes to the Comprehensive Statement of Income

Negative foreign exchange adjustments of TEUR 11,935 were recognized to other comprehensive income during the first nine months of 2009. These adjustments resulted above all from the US dollar and a number of East European currencies, and were only offset in part by positive currency translation effects from the British pound and the Czech krone. The hedging reserve rose by TEUR 10,185 after tax during the reporting period, whereby deferred taxes included in comprehensive income reduced equity by TEUR 1,055. Changes in the fair value of available-for-sale securities totaled TEUR 140 and include deferred tax expense of TEUR 47. Expenses of TEUR 3,632 were recognized to the income statement during the reporting period to reflect the settlement at maturity of gas forwards (cash flow hedges) for which the changes in fair value were previously recorded directly to equity. The pre-tax loss for the first nine months reduced equity by TEUR 198,215. Total comprehensive income after tax therefore led to a decrease of TEUR 199,826 for the reporting period.

Notes to the Cash Flow Statement

Cash flow of TEUR 139,036 from operating activities was substantially lower than the comparable prior year level (2008: TEUR 175,077) because of the long winter and continuing market weakness. Cash outflows of TEUR 104,355 for investments in non-current assets (incl. financial assets) and acquisitions included TEUR 36,615 of maintenance, replacement and rationalization investments (maintenance capex) and TEUR 67,740 of acquisitions and the construction or expansion of plants (growth investments). A deconsolidation generated cash inflows of TEUR 1,451.

�Notes to the Balance Sheet

Maintenance capex and growth investments for the first nine months of 2009 increased non-current assets by TEUR 100,770. Net debt declined by TEUR 349,686 to TEUR 540,492 following the capital increase in September despite lower cash flow from operating activities, the TEUR 32,500 coupon payment for the hybrid bond in February and investments.

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 2009 include the weakness that has affected the construction industry in nearly all markets combined with industry-wide capacity that has not yet been adjusted to reflect the changing demand as well as the risks related to financing and the protection of liquidity. In accordance with the active management of risks in the operating environment, Wienerberger reacted quickly to these developments with the temporary shutdown of production capacity and plant closings in order to adjust its capacity to meet the changing market climate. The financial strenght of Wienerberger was also enhanced by shareholders' decision to waive a dividend for the 2008 financial year. Wienerberger has been able to limit financing risks by extending and renegotiating credit lines, and above all through the successful placement of a capital increase in September.

The risks expected by Wienerberger during the fourth quarter of this year are connected with the uncertainty surrounding the development of business in the construction industry and the weather as well as high inventories and the related pressure on prices, rising energy costs and negative foreign exchange effects. Wienerberger continuously monitors these and other risks in its operating environment as part of its Group-wide risk management system and takes appropriate actions as required. A program to reduce working capital has been implemented throughout the Group, above all as a means of managing the risk associated with high inventories. The business situation in the construction industry and the major indicators of the demand for building materials are watched closely to enable the Wienerberger Group to adjust its production capacity as quickly as possible to reflect changes in the market. Especially in an economic environment that has been negatively influenced by the global financial crisis, the preservation of liquidity and protection of a sound financial base will also continue to represent a focal point of corporate strategy. Wienerberger therefore carried out a capital increase in September and remains focused on the maximization of free cash flow and a decrease in net debt through cost savings as well as the reduction of working capital and a cutback in investments to a minimum. The risks associated with rising energy costs are reduced by hedging the prices for the various types of energy used by the Group.

Wienerberger is also exposed to legal risks from an impending antitrust penalty in Germany, for which a provision of € 10 million was recognized as of December 31, 2008. However, the related proceedings are not expected to start before 2010. It should be noted that price-fixing agreements are not part of Wienerberger business policies; internal guidelines prohibit such practices and call for sanctions in the event of violations. In Italy the authorities have launched an investigation into possible environmental pollution at the Wienerberger locations, which has not produced any results to date.

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

The Managing Board of Wienerberger AG hereby declares to the best of its knowledge and belief that this unaudited quarterly report provides a true and fair view of the asset, financial and earnings position of the group in agreement with International Financial Reporting Standards (IFRSs), as adopted by the EU.

The Managing Board of Wienerberger AG Vienna, November 6, 2009

H. Scheuch Scheuch W. Van Riet Riet J. Windisch

Plant Sites and Market Positions

Wienerberger is the only multinational producer of bricks and roof tiles, with a total of 229 plants in 26 countries and 5 export markets. We focus on our core areas of expertise and work steadily to strengthen our geographic portfolio. We don't want to be everywhere – our objective is to develop strong positions in the markets in which we are present.

Wienerberger Markets in North America

Wienerberger Markets in Europe

Export markets

Bramac concrete roof tiles (50%) and Tondach Gleinstätten clay roof tiles (25%)

Financial Calendar

October 12, 2009	Start of the quiet period
November 6, 2009	Third Quarter Results for 2009
December 3/4, 2009	Capital Markets Day 2009 in Vienna, Austria
January 27, 2010	Start of the quiet period
February 11, 2010	Preliminary Results for 2009
March 1, 2010	Start of the quiet period
March 24, 2010	2009 Final Results: Press and Analysts Conference in Vienna
March 25, 2010	2009 Final Results: Analysts Conference in London
April 12, 2010	Start of the quiet period
May 4, 2010	First Quarter Results for 2010
May 20, 2010	141st Annual General Meeting in the Austrian Center Vienna
May 24, 2010	Deduction of dividends for 2009 (ex-day)
May 26, 2010	First day of payment for 2009 dividends
July 26, 2010	Start of the quiet period
August 17, 2010	Results for the First Six Months of 2010: Press and Analysts Conference in Vienna
August 18, 2010	Results for the First Six Months of 2010: Analysts Conference in London
October 11, 2010	Start of the quiet period
November 3, 2010	Third Quarter Results for 2010

Information on the Company and the Wienerberger Share

Investor Relations Officer	Barbara Braunöck
Shareholders' Telephone	+43 (1) 601 92-463
E-Mail	communication@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 2008: http://annualreport.wienerberger.com