Wienerberger Ag · VIE:WIE
Wienerberger — Shareholder Meeting (May 2025)
85 slides from Wienerberger's shareholder meeting presentation, May 16, 2025
Slide 1: Welcome to the 156th Annual General Meeting
WELCOME to the 156th Annual General Meeting
Slide 2: We care for a better tomorrow
Financial Performance 2024 Sustainability – Capital Allocation an integral part Policy of our strategy Value creation We care 2025 for Shareholders for a better tomorrow. Key Topics Mid-term in 2024 Strategy
Slide 3: Zero Harm – Safety Comes First
Zero Harm – Safety Comes First 3
Slide 4: Key Topics in 2024
Investments in Production Network and Innovation Terreal Development of End Markets Growth in the Pipe Segment Market Environment Key Topics 2024 in 2024 4
Slide 5: Market Environment 2024: Business Strategy Adjusted
Key Topics in 2024 Market Environment 2024 Market Environment 2024 Business Strategy Adjusted: The year 2024 was marked by a challenging economic and geopolitical environment with numerous external influencing In-depth analysis of our business factors. segments and consistent measures to increase ef
Slide 6: Market Environment 2024: Improved Cost Efficiency
Key Topics in 2024 Market Environment 2024 Market Environment 2024 Improved The year 2024 was marked by a challenging economic and Cost Efficiency: geopolitical environment with numerous external influencing factors. Process optimization and targeted cost reductions 6
Slide 7: Market Environment 2024: Capacity Adjustments
Key Topics in 2024 Market Environment 2024 Market Environment 2024 Capacity Adjustments: The year 2024 was marked by a challenging economic and geopolitical environment with numerous external influencing Reduction of capacities and factors. inventories to align with significantly lower new build dem
Slide 8: Market Environment 2024: Renovation as a Growth Driver
Key Topics in 2024 Market Environment 2024 Market Environment 2024 Renovation as a Growth Driver: The year 2024 was marked by a challenging economic and geopolitical environment with numerous external influencing In the Roofing Segment, we continued to factors. grow and maintained our market positio
Slide 9: Market Environment 2024: Successful Development of the Piping Business
Key Topics in 2024 Market Environment 2024 Market Environment 2024 Successful Development of the The year 2024 was marked by a challenging economic and geopolitical environment with numerous external influencing Piping Business: factors. We further strengthened and successfully expanded our position
Slide 10: Terreal – Roof and Solar Solutions
Key Topics in 2024 Terreal 5 Countries Terreal – Roof and Solar Solutions 28 Production Strengthened position as the leading European pitched sites roof expert for innovative roof and solar solutions € +150 Significant expansion in the refurbishment and renovation market with great growth potential
Slide 11: Terreal – Integration Progressing Faster Than Expected
Key Topics in 2024 Terreal Terreal – Integration Progressing Faster Than Expected Successful and strong integration performance Positive contribution to overall profitability Accelerated realization of synergies in back-office and sales Terreal contribution to operating EBITDA: € ~82 mn (March – Dec
Slide 12: Success Factor Terreal
Key Topics in 2024 Terreal SUCCESS FACTOR TERREAL € 150 mn € 130 mn Value-enhancing M&A € 120 mn € 82 mn ~5x EV/EBITDA multiple 3 years after integration and taking synergy effects into account 12 * Proportional EBITDA contribution of € 82 mn (contribution of € 110 mn for 12 months)
Slide 13: Roof Segment Potential
Key Topics in 2024 Terreal Roof Segment Potential Roofs offer numerous usage opportunities: › Rainwater management › Promotion of renewable energy through solar solutions 30% of heat loss is caused by unrenovated roofs Renovation and refurbishment of the building stock in Europe – a key contribution
Slide 14: The Piping Business – A Key Contributor to Value Creation
Key Topics in 2024 Growth in the Pipe Segment The Piping Business – A Key Revenue Contributor to Value Creation Strong driver of growth and resilience € 1,35 bn 2024 Expansion of the pipe business into the largest individual segment – strengthening market position in infrastructure and renovation Ac
Slide 15: Growth in the Pipe Segment
Key Topics in 2024 Growth in the Pipe Segment ~3,600 Employees 675,000 km of pipes installed 18 countries Equals >17 17 trips around the world 36 Production sites 15
Slide 16: Smart Solutions for Water Management: Slatek OY
Key Topics in 2024 Growth in the Pipe Segment Smart Solutions for Water Management Slatek OY strengthens wienerberger's presence in Finland Key player in smart automation of water infrastructure Cross-selling synergies through wienerberger's existing infrastructure portfolio Enhanced presence in an
Slide 17: Smart Solutions for Water Management: Tekken AS
Key Topics in 2024 Growth in the Pipe Segment Smart Solutions for Water Management Tekken AS Expands wienerberger’s Presence in Norway Leading provider of pumping stations, prefabricated PE products, and related services Enhances and strengthens wienerberger’s pumping station portfolio Strategic syn
Slide 18: Drainage and Cable Protection Solutions: GrainPlastics
Key Topics in 2024 Growth in the Pipe Segment Drainage and Cable Protection Solutions GrainPlastics strengthens wienerberger’s market position in the Netherlands Increases value creation in the Western region Expands wienerberger’s solution portfolio in energy and water management Opens up access to
Slide 19: Investments in Production Network and Innovation
Key Topics in 2024 Investments in Production Network and Innovation Investments in Production Network and Innovation Investments in cost-efficient, resource-efficient production Innovation for Climate-Friendly Transformation – Technological solutions for a sustainable construction industry Focus on
Slide 20: Berca – Modern Brick Plant in Romania
Key Topics in 2024 Investments in Production Network and Innovation Berca – Modern Brick Plant Investment in Romania € ~25 mn State-of-the-art facility with reduced energy consumption Savings of around 4,000 tons of CO₂ emissions through technical modernization Production of products and solutions f
Slide 21: Hejöpapi – CO₂-Neutral Concrete Roof Tile Plant in Hungary
Key Topics in 2024 Investments in Production Network and Innovation Investment Hejöpapi – State-of-the-Art CO₂-Neutral Concrete Roof € ~30 mn Tile Plant in Hungary CO₂-neutral and fully automated Industry 4.0 production Annual capacity Long-term site strategy: Strengthening Hungary as a regional Inv
Slide 22: Smeed Dean – Concrete Roof Tile Facility in the UK
Key Topics in 2024 Investments in Production Network and Innovation Smeed Dean – State-of-the-Art Investment Concrete Roof Tile Production Facility in the UK € ~35 mn Investment in a new plant to expand capacity in the growing UK new-build and renovation market Annual capacity Implementation of cutt
Slide 23: Uttendorf – Europe's Most Sustainable Brick Production
Key Topics in 2024 Investments in Production Network and Innovation Investment € ~30 mn Uttendorf – Europe’s Most Sustainable Brick Production World’s largest electric industrial kiln Up to 90% less CO₂. Reduction achieved through: 270 tons green electricity, process optimization, and a new of brick
Slide 24: Uttendorf – Europe's Most Sustainable Brick Production
Key Topics in 2024 Investments in Production Network and Innovation Uttendorf – Europe’s Most Sustainable Brick Production Automated Brick Transport Nearly fully automated production Complete renewal of the electrical infrastructure Kiln dimensions: 85 meters long, 4.20 meters wide, 4 meters high, K
Slide 25: Innovation on the Construction Site
Key Topics in 2024 Investments in Production Network and Innovation Innovation on the Construction Site Leading with Automation and Robotics Robot-assisted construction processes support skilled workers and increase efficiency Building in new dimensions: brick walls up to 3 meters high (5–6 m² per h
Slide 26: Infrastructure
Key Topics in 2024 Development of End Markets INFRASTRUCTURE 18% 110 Market Development 100 2024: of revenue in 2024 90 –3% Overall slightly declining trend 80 Market share gains in 70 infrastructure for water and energy management decline in 60 2024 vs. 2023 50 2021 2022 2023 2024 26
Slide 27: Renovation
Key Topics in 2024 Development of End Markets RENOVATION Market Development 35% of revenue 110 100 +/–0% stable development 2024: in 2024 in 2024 90 Overall stable development 80 Strong performance in the 70 roof regment driven by focus on renovation 60 50 2021 2022 2023 2024 27
Slide 28: New Residential Housing
Key Topics in 2024 Development of End Markets NEW RESIDENTIAL HOUSING Market Development 2024: 47% of revenue 110 since 2021 100 in 2024 –46% Expected market recovery in new residential housing did 90 not materialize 80 Declines of over 25% in single- -5% decline and multi-family housing cons- 70 (2
Slide 29: Strong Performance Driven by Successful Transformation
Key Topics in 2024 Strong Performance STRONG PERFORMANCE DRIVEN BY SUCCESSFUL TRANSFORMATION Efficient Cost Management Strength Price Discipline & of Innovation Self-Help Program 29
Slide 30: Strength of Innovation
Key Topics in 2024 Strength of Innovation STRENGTH OF INNOVATION 2024 Target 2026 33% 35% of revenue from innovative products 30
Slide 31: Strong Performance Driven by Successful Transformation
Key Topics in 2024 Strong Performance STRONG PERFORMANCE DRIVEN BY SUCCESSFUL TRANSFORMATION Efficient Cost Management Strength Price Discipline & of Innovation Self-Help Program 31
Slide 32: Consistent Price Discipline
Key Topics in 2024 Price Discipline PRICE DISCIPLINE Consistent Price Discipline Throughout 2024, overall price development remained stable – supported by targeted price adjustments, particularly in Eastern Europe. 32
Slide 33: Strong Performance Driven by Successful Transformation
Key Topics in 2024 Strong Performance STRONG PERFORMANCE DRIVEN BY SUCCESSFUL TRANSFORMATION Efficient Cost Management Strength Price Discipline & of Innovation Self-Help Program 33
Slide 34: Efficient Cost Management & Self-Help Program
Key Topics in 2024 Cost Management & Self-Help Program EFFICIENT COST MANAGEMENT & SELF-HELP PROGRAM Cost Management Self-Help Program 59 41 INTENSIFIED COST MANAGEMENT AND EFFICIENCY IMPROVEMENTS € mn SUPPORT PROFITABILITY € mn cost savings in 2024 EBITDA contribution in 2024 € 100 mn savings for f
Slide 35: Financial Performance
Key Topics in 2024 Financial Performance FINANCIAL PERFORMANCE Revenue Operating EBITDA 2024 € 4.5 bn € 760 bn Strong performance in challenging market conditions Increase of 7% compared Decrease of –6% compared to the previous year to the previous year 35
Slide 36: Value Creation for Shareholders
Value creation for Shareholders 36
Slide 37: Strong Results Thanks to Successful Transformation of Our Business Model
Value creation for Shareholders STRONG RESULTS THANKS TO THE SUCCESSFUL TRANSFORMATION OF OUR BUSINESS MODEL Revenue EBITDA ROCE € 4.5 bn € 0.8 bn 9.5% € 2.4 bn € 0.2 bn 1.1% 37
Slide 38: Value Creation for Our Shareholders
Value creation for Shareholders VALUE CREATION FOR OUR SHAREHOLDERS Dividend Share Price Total Development Shareholder Return 2024-2025 2012–2024 20–40% € 0.95 € > 30 365% of the generated free cash flow is distributed to shareholders1) 38 1) The specific amount is determined based on the Group’s ov
Slide 39: Capital Allocation Policy
Capital Allocation Policy 39
Slide 40: Our Capital Allocation Policy
Capital Allocation Policy OUR CAPITAL ALLOCATION POLICY Acquisitions depending on opportunities Share Maintenance Dividend Buyback Investments Growth Policy Programs Investments incl. ESG Dividend distribution together with share buybacks represents a total payout ratio of 33% of free cash flow. 40
Slide 41: Financial Performance 2024
Financial Performance 2024 41
Slide 42: Strong Performance in a Challenging Market Environment
Financial Performance 2024 STRONG PERFORMANCE IN A CHALLENGING MARKET ENVIRONMENT Revenues 2024 € 4.5 bn Increase of 7% in comparison to prior year 42
Slide 43: Third-Best Year in Company History
Financial Performance 2024 THIRD-BEST YEAR IN COMPANY HISTORY Operating EBITDA € 760 mn Decline of -6% in comparison to prior year 43
Slide 44: Solid Operating EBITDA Margin
Financial Performance 2024 SOLID OPERATING EBITDA MARGIN Weaker end markets and lower production activity Operating Operating Consistent pricing discipline resulted EBITDA margin EBITDA margin in overall stable price development throughout 2024 – supported by 19% 17% targeted price adjustments, part
Slide 45: Operating EBITDA 2023 vs 2024
Financial Performance 2024 OPERATING EBITDA Operating EBITDA Operating EBITDA 2023 2024 € 811mn –6% € 760 mn 45
Slide 46: Revenues by Region
Financial Performance 2024 REVENUES BY REGION 2023 2024 North America North America 20 % 52 % Europe West 28 % Europe West Europe East Europe East 46
Slide 47: Operating EBITDA by Region
Financial Performance 2024 OPERATING EBITDA BY REGION 2023 2024 North America Operating EBITDA margin North America Operating EBITDA margin Operating EBITDA margin Europe West Operating EBITDA margin Europe West Operating EBITDA margin Operating EBITDA margin Europe East Europe East 47
Slide 48: Operating EBITDA by Product
Financial Performance 2024 OPERATING EBITDA BY PRODUCT 2023 2024 Wall Operating EBITDA margin Wall Pipes Operating Operating EBITDA margin EBITDA margin Pipes Operating EBITDA margin Operating EBITDA margin Operating EBITDA margin Operating EBITDA margin Facade Operating EBITDA margin Facade Roof 1)
Slide 49: Focus on Cash Flow Generation Following Largest Acquisition
Financial Performance 2024 FOCUS ON CASH FLOW GENERATION FOLLOWING THE LARGEST ACQUISITION IN THE COMPANY’S HISTORY Successful Working Capital Management Reduction of maintenance investments € ~420mn Disciplined cost management + > 60% in comparison to prior year Disposal of non core assets 49
Slide 50: Strong Operating Cash Flow Supports Financing of Acquisitions and Growth
Financial Performance 2024 STRONG OPERATING CASH FLOW SUPPORTS FINANCING OF ACQUISITIONS AND GROWTH 814 + 137 + 42 – 456 + 135 – 133 Other M&A and Growth Capex 1,754 Gross Cash Flow* Dividends/ 1,215 Working Capital Maintenance Capex Share Buyback 940 Net Debt Net Debt before M&A Net Debt YE 2023 an
Slide 51: Conservative Financial Policy Ensures a Solid Balance Sheet
Financial Performance 2024 CONSERVATIVE FINANCIAL POLICY ENSURES A SOLID BALANCE SHEET Strong Solid Conservative Investment- Capital Base Liquidity Reserve Leverage Ratio Grade Rating ~50% € ~1.0 bn 2.3x Baa3 by Moody’s net debt / operating EBITDA equity ratio as of December 31, 2024 51
Slide 52: Sustainability – an integral part of our strategy
Sustainability Program 2023-2026 People at the Center Sustainability – an integral part of our strategy 52
Slide 53: People at the Center
People at the Center People at the Center >20,000 employees in 28 countries >90 nationalities >30 spoken languages >34% female representation in employee positions 907,000 shares for employees 53
Slide 54: Health & Safety
People at the Center Health & Safety “Zero Harm” Principle: Zero workplace accidents Regular plant inspections Target: 20,000 hours per year dedicated to Health & Safety ~323,000 hours of safety training initiatives by 2026 2024 Already Achieved: Over 49,000 hours Safe working conditions aligned wit
Slide 55: Sustainability in Our Strategy
Sustainability Program 2023–2026 Sustainability in Our Strategy Innovation Sustainability and innovation go hand in hand and are integral parts of our strategy. Despite a challenging market environment, we remain committed to this direction and continue to consistently implement our strategic initia
Slide 56: Our Sustainability Program 2023–2026
Sustainability Program 2023–2026 Waste Management Biodiversity Health & Safety Circularity Our Sustainability Revenue from products Program 2023–2026 supporting net zero buildings Decarbonization and Energy Mix Water Management Diversity, Training & Equity & Development Inclusion Social Commitment 5
Slide 57: Revenue from Products Supporting Net Zero Buildings
Sustainability Program 2023–2026 Net zero buildings REVENUE FROM PRODUCTS SUPPORTING NET ZERO BUILDINGS Progress 2024 73.4% Target 2026 Base year 2020 75% 69% 57
Slide 58: Sales from Highly Durable Products (>100 Years)
Sustainability Program 2023–2026 Circularity SALES FROM HIGHLY DURABLE PRODUCTS (>100 YEARS) Progress 2024 83% Target 2026 Base year 2023 >80% 81.3% 58
Slide 59: Sold Products That Are Recyclable and/or Reusable
Sustainability Program 2023–2026 Circularity SOLD PRODUCTS THAT ARE RECYCLABLE AND/OR REUSABLE Progress 2024 93% Target 2026 Base year 2023 >90% 92% 59
Slide 60: Reduction of Scope 1 & 2 Emissions
Sustainability Program 2023–2026 Decarbonization and Energy Mix REDUCTION OF SCOPE 1 & 2 EMISSIONS Progress 2024 – 18.5% Target 2026 reduction Base year 2020 – 25% 2.6 reduction million tonnes 60
Slide 61: Reduction of Scope 3 Emissions
Sustainability Program 2023–2026 Decarbonization and Energy Mix REDUCTION OF SCOPE 3 EMISSIONS Progress 2024 – 20% Target 2026 reduction Base year 2022 – 10% 3.2 reduction million tonnes 61
Slide 62: Share of Renewable Energy in Own Operations
Sustainability Program 2023–2026 Decarbonization and Energy Mix SHARE OF RENEWABLE ENERGY IN OWN OPERATIONS Progress 2024 11.2% Target 2026 share Base year 2023 15% 9.8% share share 62
Slide 63: 2025
2025 63
Slide 64: Market Developments
Outlook 2025 Market developments Uncertain economic environment, but early signs of easing North America shows strength in infrastructure despite interest rates weather-related risks Regional recovery in new residential housing, but weakness Eastern Europe remains split: positive trend in new reside
Slide 65: Potential Catalysts for Growth
Outlook 2025 Potential catalysts for growth Governmental initiatives to materialize particularly in the UK and Europe Alternative models for financing social housing (i.e. through the European Investment Bank, EIB) Political stability after elections Further interest rate cuts Ukraine peace deal 65
Slide 66: Expectations for End Market Development in 2025
Outlook 2025 EXPECTATIONS WITH RESPECT TO END MARKET DEVELOPMENT IN 2025 110 END MARKET DEVELOPMENT | AVG. 2021 = BASELINE 100 INFRASTRUCTURE STABLE 90 80 RENOVATION SLIGHT GROWTH 70 New residential housing NEW RESIDENTIAL HOUSING 60 Infrastructure STABLE / SLIGHTLY DECREASING Renovation 50 2021 202
Slide 67: Infrastructure
Outlook 2025 Infrastructure #1 piping Market Development: solutions Stable development in Eastern, Western, and Northern Europe Slight growth in the UK and Ireland Stable development in the US and Canada #2 pavers Revenue share: 20% 67
Slide 68: Renovation
Outlook 2025 Renovation #1 Market Development: roof solutions #2 piping Slight growth in Eastern Europe as well as the UK/Ireland solutions Stable development in Western and Northern Europe Stable development in the US and Canada #3 facade Revenue share: 35% solutions 68
Slide 69: New Residential Housing
Outlook 2025 New residential housing #1 #2 façade wall Market development: solutions solutions Slight growth in UK/Ireland Stable, slightly declining development in Western Europe – with the exception of the Netherlands, where slight growth is observed Stable, slightly declining development in the U
Slide 70: Guidance 2025
Outlook 2025 GUIDANCE 2025 Outlook assumptions are based on Operating EBITDA overall stable end market developments € ~800 mn throughout 2025 further interest rate cuts in line with current market expectations 70
Slide 71: Q1 2025
Q1 2025 Q1 / 2025 130 mn €~ € 115 mn Stable sales volumes vs. Q1 2024 Slightly negative price/cost spread expected in Q1 2025 Further positive cost management impact out of restructurings 2024 Q1 2024 Q1 2025 operating operating EBITDA EBITDA 71
Slide 72: Mid-term Strategy
End markets Environment and Positioning Mid-term Our Path strategy to the Future 72
Slide 73: The Environment in Which We Operate
Mid-term strategy Environment and Positioning THE ENVIRONMENT IN WHICH WE OPERATE Geopolitical Financial Conditions Environment Markets Characterized by uncertainty, requiring Instable Volatile resilience and adaptability 73
Slide 74: Our Response: Strong and Stable Business Model
Mid-term strategy Environment and Positioning Our Response: Strong and stable business model Raw Material Security: Locally available clay, regionally/internationally secured plastic granulate Stable Energy Supply: Growing share of sustainably available energy sources Local Production: Short distanc
Slide 75: Strategic Transformation – Optimized Positioning in Key End Markets
Mid-term strategy End markets STRATEGIC TRANSFORMATION – OPTIMIZED POSITIONING IN KEY END MARKETS REVENUE SHARE 2010 REVENUE SHARE 2024 Infrastructure 5% Infrastructure Renovation New build New build Renovation 75
Slide 76: End Market Development
Mid-term strategy End markets END MARKET DEVELOPMENT 110 END MARKET DEVELOPMENT | AVG. 2021 = BASELINE Important spare capacity to meet increasing demand More efficient and cost- effective industrial base in all regions New residential housing Strong portfolio of systems/ Infastructure products for
Slide 77: Focus on Organic Growth in Our Business Areas
Mid-term strategy Our Path to the Future FOCUS ON ORGANIC GROWTH IN OUR BUSINESS AREAS Roofing: Pipes: Walls: Facade: Resource-efficient solutions Robotics and automation Dematerialization: From protective roofs for water and energy to enhance efficiency Efficient resource use through to functional
Slide 78: Focus on Organic Growth
Mid-term strategy Our Path to the Future HIGH INNOVATION RATE TARGET 2026: >35% CONTINUED Focus on OPERATIONAL EFFICIENCY AND organic growth IMPROVED CAPACITY INCREASE SYSTEM UTILISATION SOLUTIONS Particularly in the piping and roofing divisions 78
Slide 79: Focus on Value Creating Acquisitions
Mid-term strategy Our Path to the Future 11 ACQUISITIONS 4 in the Facade Segment ACQUISITIONS in the Roofing Segment More than 4 40 ACQUISITIONS in the Smart Business Segment Focus on 12 value creating ACQUISITIONS in the Piping ACQUISITIONS acquisitions Solutions Segment in the Past 10 Years 2 ACQU
Slide 80: Focus on Value Creating Acquisitions
Mid-term strategy Our Path to the Future Strong TRACK RECORD of transactions Successful INTEGRATION and Realization of SYNERGIES through Focus on the Implementation of value creating Business Support acquisitions Substantial and Centers VALUE ENHANCING pipeline of potential M&A transactions 80
Slide 81: Strategic Expansion into New International Business Areas
Mid-term strategy Our Path to the Future STRATEGIC EXPANSION INTO NEW INTERNATIONAL BUSINESS AREAS Growth Priorities Piping Solutions Facade and Roofing in Commercial (Soluforce / LLP): Gradual Expansion Solutions: new build in the Focusing on of Wall Material Targeted growth US & Canada, high-perfo
Slide 82: Strategic Expansion of Innovative Solutions
Mid-term strategy Our Path to the Future Merged capabilities of Inter Act, I-Real, Wideco, and Slatek Strategic Expansion of Innovative Solutions Technology Focus Purpose-Driven Innovation IoT-based systems enabling real-time monitoring & Expansion into digital infrastructure for water, predictive m
Slide 83: Rebuilding Ukraine
Mid-term strategy Our Path to the Future Rebuilding Ukraine Reconstruction will follow a peace agreement Ukraine New demand for bricks, roof tiles, paving solutions, plastic pipes, and more wienerberger is ideally positioned to make a meaningful contribution Production sites in all neighboring count
Slide 84: People at the Center
Mid-term strategy Our Path to the Future People at the Center Targeted expansion of training programs Ongoing development of our employees’ skills at all levels Empower & Engage Our Aspiration: Stronger involvement, personalized development paths, Strengthening and recognition of performance Our Peo
Slide 85: wienerberger – Your Partner for Sustainable Solutions
Mid-term strategy Our Path to the Future wienerberger – Your Partner for Sustainable Solutions For infrastructure. For renovation. Reliable in challenging times For new construction. Innovative through technology and digitalization For generations to come. Committed to sustainable thinking and actio