Wienerberger Ag · VIE:WIE
Wienerberger — Shareholder Meeting (May 2026)
87 slides from Wienerberger's shareholder meeting presentation, May 7, 2026
Slide 1: Welcome to the 157th Annual General Meeting
Welcome to the 157 Annual th General Meeting 1
Slide 2: Transformation, External growth, Performance, Outlook
Trans- External formation growth Performance Strong 2025 foundation Growth Outlook despite 2026 headwinds 2
Slide 3: Growth despite headwinds
Growth despite headwinds 3
Slide 4: Four years of crisis
GROWTH DESPITE HEADWINDS FOUR YEARS OF CRISIS 4 year th 4 year th 4 year th No of recession of war of downturn structural in new build recovery 4
Slide 5: wienerberger delivers growth despite headwinds
GROWTH DESPITE HEADWINDS WIENERBERGER DELIVERS GROWTH DESPITE HEADWINDS In one of the most PROFIT AFTER TAX EARNINGS PER SHARE FREE CASH FLOW 2025 2025 2025 challenging market environments in decades, wienerberger increased € 168 mn 2024: € 84 mn € 1.52 2024: € 0.72 € 474 mn 2024: € 417 mn 5
Slide 6: This performance clearly shows
GROWTH DESPITE HEADWINDS THIS PERFORMANCE CLEARLY SHOWS that wienerberger is able to increase Growth Operational Diversified profitability and earnings despite shrinking strength portfolio even in structurally weak markets markets 6
Slide 7: wienerberger's track record
GROWTH DESPITE HEADWINDS REVENUES GROWTH CAPEX/M&A € 4,6 bn wienerberger’s TRACK RECORD >€ 157 mn 2025 OPERATING EBITDA FREE CASH FLOW € 754 mn € 474 mn 7
Slide 8: Strong foundation for future growth
Strong foundation for future growth 8
Slide 9: A transformed portfolio as a scalable growth platform
STRONG FOUNDATION FOR FUTURE GROWTH A TRANSFORMED PORTFOLIO AS A SCALABLE GROWTH PLATFORM Today, more than 50% of We have broadened our range of products and revenues come from Successful acquisitions, enhanced solutions by entering the profitability and a strong expansion strategy renovation and in
Slide 10: Full-range provider of system solutions
STRONG FOUNDATION FOR FUTURE GROWTH THROUGH ORGANIC GROWTH AND M&A WE HAVE POSITIONED OURSELVES AS A FULL-RANGE PROVIDER OF SYSTEM SOLUTIONS. 10
Slide 11: Strong foundation for future growth
STRONG FOUNDATION FOR FUTURE GROWTH 11
Slide 12: Increased share of system solutions
STRONG FOUNDATION FOR FUTURE GROWTH INCREASED SHARE OF SYSTEM SOLUTIONS 2023 2024 2025 28% 31% 32% System solutions as a percentage of revenues doubled from 15% in 2021 to 32% in 2025. 12
Slide 13: Growth driven by system solutions
STRONG FOUNDATION FOR FUTURE GROWTH GROWTH DRIVEN BY SYSTEM SOLUTIONS Successful Strategic focus: integration of the Shift from Expanding our Products alone Pure product individual fields of solutions business product-driven is essential for cannot deliver our markets allow hardly business generates
Slide 14: Transformation – and we are not done yet
Transformation – and we are not done yet 14
Slide 15: Innovation
TRANSFORMATION – AND WE ARE NOT DONE YET INNOVATION SHARE OF INNOVATIVE PRODUCTS IN REVENUES IN 2025 TARGET FOR 2026 We grow with innovative sustainable system solutions for the challenges of today and tomorrow >34% >35% 15
Slide 16: Increasing innovation rate underpins organic growth
TRANSFORMATION – AND WE ARE NOT DONE YET INCREASING INNOVATION RATE UNDERPINS ORGANIC GROWTH What is an Ceramics Pipes innovative product? 5 years for façade products Products that are new, and concrete pavers 5 years for modified, or deliver significant all Pipelife products sustainability improvem
Slide 17: Transformation of the roofing business
TRANSFORMATION – AND WE ARE NOT DONE YET / ROOF SOLUTIONS Transformation of the roofing business 17
Slide 18: Expert and market leader for pitched roofs in Europe
TRANSFORMATION – AND WE ARE NOT DONE YET / ROOF SOLUTIONS EXPERT AND MARKET LEADER FOR PITCHED ROOFS IN EUROPE 27 % ~ € 75 mn Share of renovation m² capacity Share of roofing solutions in Group revenues 60 % 18
Slide 19: Industry-leading footprint in Europe in roof tiles and accessories
TRANSFORMATION – AND WE ARE NOT DONE YET / ROOF SOLUTIONS INDUSTRY-LEADING FOOTPRINT IN EUROPE IN ROOF TILES AND ACCESSORIES 44 plants ~100 production lines in Europe 75 mn m capacity 2 wienerberger Terreal/Creaton 19
Slide 20: Increasing need for roof renovation
TRANSFORMATION – AND WE ARE NOT DONE YET / ROOF SOLUTIONS INCREASING NEED FOR ROOF RENOVATION 35 million buildings to be renovated by 2030 Major part of thermal energy lost through roofs Renovating roofs plays a major role in decarbonizing Europe’s old housing stock Source: EU Commission, Energy Per
Slide 21: Three segments with significant growth potential
TRANSFORMATION – AND WE ARE NOT DONE YET / ROOF SOLUTIONS THREE SEGMENTS WITH SIGNIFICANT GROWTH POTENTIAL 17 %wienerberger 2% wienerberger 5% wienerberger ~ € 6 bn TOTAL ~ € 6 bn TOTAL € 2.5 bn TOTAL PITCHED ROOF ROOF COMPONENT RESIDENTIAL MARKET1 MARKET 2 PV MARKET3 Note: External market studies a
Slide 22: Market leader for pitched roofs in Europe
TRANSFORMATION – AND WE ARE NOT DONE YET / ROOF SOLUTIONS MARKET LEADER FOR PITCHED ROOFS IN EUROPE Strengthening One-stop-shop Significant potential our market leadership provider for in roof repair in Europe renovation 22
Slide 23: Successful expansion of renovation business in roofing segment
TRANSFORMATION – AND WE ARE NOT DONE YET / ROOF SOLUTIONS SUCCESSFUL EXPANSION OF RENOVATION BUSINESS IN ROOFING SEGMENT Roofing revenue in € mn 1.214 1.135 762 581 680 646 2020 2021 2022 2023 2024 2025 Revenue Entire segment incl. North America 23
Slide 24: Transformation of the piping business
TRANSFORMATION – AND WE ARE NOT DONE YET / PIPE SOLUTIONS Transformation of the piping business 24
Slide 25: The piping business contributes significantly to the value of our Group
TRANSFORMATION – AND WE ARE NOT DONE YET / PIPE SOLUTIONS THE PIPING BUSINESS CONTRIBUTES SIGNIFICANTLY TO THE VALUE OF OUR GROUP, LEADING TO GROWING EXPOSURE TO EXPOSURE TO STRUCTURALLY INFRASTRUCTURE AND GROWTH AND CONSOLIDATION GROWING END MARKETS OPPORTUNITIES RENOVATION Scale & scope Energy tra
Slide 26: We have significantly broadened our offer of piping solutions
TRANSFORMATION – AND WE ARE NOT DONE YET / PIPE SOLUTIONS WE HAVE SIGNIFICANTLY BROADENED OUR OFFER OF PIPING SOLUTIONS 2% Pavers / Surface Wall 16% Pipes 29% Revenues Façade 26% 27% Roof Now representing the single largest segment of our Group 26
Slide 27: Strategic expansion of our production network
TRANSFORMATION – AND WE ARE NOT DONE YET / PIPE SOLUTIONS STRATEGIC EXPANSION OF OUR PRODUCTION NETWORK Portfolio optimization Acquisition of margin-accretive businesses / Improvement of Current our system solutions production sites Investments in industry consolidation Investments in industrial inf
Slide 28: Strategic focus areas
TRANSFORMATION – AND WE ARE NOT DONE YET / PIPE SOLUTIONS STRATEGIC FOCUS AREAS Active role Expansion Becoming a in further industry of our system solutions leading European consolidation in Europe business provider of smart piping systems 28
Slide 29: Successful strengthening of our infrastructure business
TRANSFORMATION – AND WE ARE NOT DONE YET / PIPE SOLUTIONS SUCCESSFUL STRENGTHENING OF OUR INFRASTRUCTURE BUSINESS Revenues pipes in € mn 1.574 1.418 1.315 1.347 1.354 1.005 2020 2021 2022 2023 2024 2025 Revenues Entire segment incl. North America 29
Slide 30: Transformation in wall solutions
TRANSFORMATION – AND WE ARE NOT DONE YET / WALL SOLUTIONS Transformation in wall solutions 30
Slide 31: Expert and market leader for clay blocks in Europe
TRANSFORMATION – AND WE ARE NOT DONE YET / WALL SOLUTIONS EXPERT AND MARKET LEADER FOR CLAY BLOCKS IN EUROPE Annual production € 717 mn 53 capacity of 220,000 Revenues 2025 production sites in proximity to customers housing units 31
Slide 32: We serve our core markets in Europe
TRANSFORMATION – AND WE ARE NOT DONE YET / WALL SOLUTIONS WE SERVE OUR CORE MARKETS IN EUROPE Strong footprint all over Europe Broad regional network in proximity to customers Roof tile plants Prefabrication plants 32
Slide 33: High demand for housing in Europe
TRANSFORMATION – AND WE ARE NOT DONE YET / WALL SOLUTIONS HIGH DEMAND FOR HOUSING IN EUROPE Demand Construction CAPEX Annual for housing activity required housing deficit 2 mn housing units/year 1.6 mn housing units/year € 150 bn 650,000 per year housing units/year Source: The European Affordable Ho
Slide 34: Megatrends – the basis for our business development
TRANSFORMATION – AND WE ARE NOT DONE YET / WALL SOLUTIONS MEGATRENDS – THE BASIS FOR OUR BUSINESS DEVELOPMENT The European Shortage of Affordable Urbanization Climate change skilled labor Housing Plan Trend toward Global warming Labor shortage Promoting the multi-story residential and sustainable in
Slide 35: Designed for a long service life
TRANSFORMATION – AND WE ARE NOT DONE YET / WALL SOLUTIONS DESIGNED FOR A LONG SERVICE LIFE – SUSTAINABLE BUILDINGS THAT LAST OVER A CENTURY Service life Long service life Ceramic products >100 diminishes stand out through environmental burdens sustainability and compared to a long service life years
Slide 36: Strategic focus areas
TRANSFORMATION – AND WE ARE NOT DONE YET / WALL SOLUTIONS STRATEGIC FOCUS AREAS Innovation in Production technology Durable, affordable and construction automation fit for the future energy-efficient through robotics and for a sustainable building solutions prefabrication building stock 36
Slide 37: Performance of the wall business
TRANSFORMATION – AND WE ARE NOT DONE YET / WALL SOLUTIONS PERFORMANCE OF THE WALL BUSINESS Wall revenues in € mn 1.005 763 717 854 728 679 2020 2021 2022 2023 2024 2025 Revenues Note: Revenue data from external sources. Data processing may result in rounding differences 37
Slide 38: Transformation of the façade business
TRANSFORMATION – AND WE ARE NOT DONE YET / FAÇADE SOLUTIONS Transformation of the façade business 38
Slide 39: Expert and market leader for façades in Europe
TRANSFORMATION – AND WE ARE NOT DONE YET / FAÇADE SOLUTIONS EXPERT AND MARKET LEADER FOR FAÇADES IN EUROPE 9% Other 17% Clay pavers ~ € 28 mn m capacity 2 74 % facing bricks Quelle: Europäische Kommission, Richtlinie über die Gesamtenergieeffizienz von Gebäuden 39
Slide 40: Segments in Europe with significant growth potential
TRANSFORMATION – AND WE ARE NOT DONE YET / FAÇADE SOLUTIONS SEGMENTS IN EUROPE WITH SIGNIFICANT GROWTH POTENTIAL 25% wienerberger 20% wienerberger ~ € 2.1 bn ~ € 0.6 bn TOTAL TOTAL FACING BRICK CLAY PAVER MARKET¹ MARKET2 LEADING MARKET POSITIONS OVERALL Note: External market studies and internal est
Slide 41: Industry leader in Europe: brick plants for façade products
TRANSFORMATION – AND WE ARE NOT DONE YET / FAÇADE SOLUTIONS INDUSTRY LEADER IN EUROPE 51 BRICK PLANTS FOR FAÇADE PRODUCTS AND CLAY PAVERS Capacity 8 plants for 7 plants for 1 plant for 35 plants for of thin bricks clay pavers façade panels facing bricks 28 mn m² 41
Slide 42: Facing bricks: strengthening a highly relevant and profitable pillar
TRANSFORMATION – AND WE ARE NOT DONE YET / FAÇADE SOLUTIONS FACING BRICKS: STRENGTHENING A HIGHLY RELEVANT AND PROFITABLE PILLAR OF OUR BUSINESS Supports long-term High design architectural identity value allows Reference useful life High potential for with strong cultural premium pricing of over 15
Slide 43: Clay pavers: growing demand for sustainable solutions
TRANSFORMATION – AND WE ARE NOT DONE YET / FAÇADE SOLUTIONS CLAY PAVERS: GROWING DEMAND FOR SUSTAINABLE AND CLIMATE-RESILIENT SOLUTIONS Long-term Exceptionally Natural color ecological long service life fastness and advantages (125–250 years) outstanding aesthetics Quelle: Europäische Kommission, Ri
Slide 44: Strategic focus areas
TRANSFORMATION – AND WE ARE NOT DONE YET / FAÇADE SOLUTIONS STRATEGIC FOCUS AREAS Transition to Broader range of Driving innovation energy-efficient system solutions and product products development Improving speed of Accelerating transition to installation and affordability, Strengthening competiti
Slide 45: Performance of the façade business
TRANSFORMATION – AND WE ARE NOT DONE YET / FAÇADE SOLUTIONS PERFORMANCE OF THE FAÇADE BUSINESS Revenues façade in € mn 1.506 1.220 1.278 880 1.173 1.029 2020 2021 2022 2023 2024 2025 Revenue 45
Slide 46: External growth
world of wienerberger External growth
Slide 47: Acquisition of MFP in Ireland
EXTERNAL GROWTH EXPANSION OF OUR PIPING BUSINESS Irish provider of With piping solutions, Acquisition piping solutions, specializing wienerberger further of MFP in Ireland in drainage, rainline, and cable protection systems strengthens its position in the Irish and British markets 47
Slide 48: Acquisition of GSEi in France
EXTERNAL GROWTH POSITIONING IN THE IN-ROOF PHOTOVOLTAIC MARKET wienerberger continues French provider of to pursue its strategy of Acquisition in-roof PV solutions with sustainable energy transition, of GSEi in France leading position in the European in-roof market thus strengthening its top positio
Slide 49: Acquisition of NEWS Group
EXTERNAL GROWTH STRENGTHENING OUR POSITION IN WATER MANAGEMENT Growing demand for Leading provider of sustainable, decentralized Acquisition of sustainable wastewater wastewater solutions as a result NEWS Group solutions in Sweden and the entire Nordic region of new regulatory requirements and the n
Slide 50: Investments in modern plant and equipment
EXTERNAL GROWTH DECARBONIZATION OF PRODUCTION SUPPORTS GROWTH IN EUROPE Opening of a Investments fully electrified Energy-efficient processes and advanced plant and in modern plant production site equipment support wienerberger in reducing its and equipment in the south-east of CO₂ footprint in prod
Slide 51: Extension of our product portfolio
EXTERNAL GROWTH Extension of our product portfolio 51
Slide 52: Acquisition of Italcer
EXTERNAL GROWTH ACQUISITION OF ITALCER The Italcer Group Strengthening is an internationally wienerberger’s Serving as a Production sites in active producer of Italy and Spain position new growth high-end tile and in the growing platform façade solutions renovation segment 52
Slide 53: Investment highlights
EXTERNAL GROWTH INVESTMENT HIGHLIGHTS Extremely successful Leading Innovative Outperforming “buy-and-build” premium brands high-end products the market platform Strong and High growth Industry leader committed potential thanks to in sustainability management team strong industrial base 53
Slide 54: Excellent strategic fit
EXTERNAL GROWTH EXCELLENT STRATEGIC FIT Accelerates Instant EBITDA potential wienerberger’s reorientation toward renovation- and margin increase including synergies infrastructure-focused activities as of day 1 > € 100 mn Scalable Joining forces Fast integration focused on profitable growth growth p
Slide 55: Highly attractive enterprise valuation
EXTERNAL GROWTH HIGHLY ATTRACTIVE ENTERPRISE VALUATION 2026 Enterprise value € 560 mn * Forecast 2026 EV/EBITDA Operating EBITDA € 82 mn Multiple 6.8x VALUATION AFTER SYNERGIES EV/EBITDA Operating EBITDA Enterprise value € 560 mn** Multiple ≤ 5.6x > € 100 mn *100% of shares cash- and debt-free **Ass
Slide 56: Closing Italcer April 30, 2026
EXTERNAL GROWTH CLOSING ITALCER APRIL 30, 2026 PAYMENT OF PURCHASE PRICE NET DEBT ~ € 160 mn ~ € 240 mn 56
Slide 57: A convincing deal
EXTERNAL GROWTH A CONVINCING DEAL EV/EBITDA multiple Strong balance sheet Focus on “buy-and-build” after synergies allows acquisition without strategies and synergies ≤5.6x raising new capital of approx. € 10 mn 57
Slide 58: Performance 2025
i) world of wienerberger Performance 2025
Slide 59: Market environment 2025
PERFORMANCE 2025 Market environment 2025 59
Slide 60: wienerberger has proven its resilience despite challenging markets
PERFORMANCE 2025 WIENERBERGER HAS PROVEN ITS RESILIENCE DESPITE CHALLENGING MARKETS € 1,021 Market 100% level Market wienerberger € 811 characterized by … performance € 760 € 754 € 694 Measures taken in Shrinking demand time to secure 65% profitability High long-term EBITDA interest rates margin 17,
Slide 61: Market overall vs. wienerberger 2025
PERFORMANCE 2025 MARKET OVERALL WIENERBERGER 2025 Infrastructure 19% 43% New build Revenues 38% Renovation 61
Slide 62: Market 2025 regions
PERFORMANCE 2025 MARKET 2025 REGIONS CENTRAL AND WESTERN EUROPE NORTH AMERICA EASTERN EUROPE Infrastructure 17% 24% 20% 36% New build Revenues Revenues 48% Revenues 22% 58% Renovation 47% 29% 62
Slide 63: Market 2025 regions: Western Europe
PERFORMANCE 2025 MARKET 2025 REGIONS WESTERN EUROPE CENTRAL AND NORTH AMERICA EASTERN EUROPE 17% Infrastructure 24% 20% 36% Revenues Revenues 48% New build Revenues 22% 58% 47% Renovation 29% 63
Slide 64: Market 2025 regions: Western Europe
PERFORMANCE 2025 MARKET 2025 REGIONS CENTRAL AND WESTERN EUROPE NORTH AMERICA EASTERN EUROPE Infrastructure 17% 24% 20% 36% Revenues Revenues 48% Revenues Renovation 22% 58% 47% 29% New build 64
Slide 65: Strong EBITDA result despite challenging market conditions
PERFORMANCE 2025 WIENERBERGER DELIVERED A STRONG EBITDA RESULT DESPITE CHALLENGING MARKET CONDITIONS 65
Slide 66: Financial performance 2025
PERFORMANCE 2025 Financial performance 2025 66
Slide 67: Strong set of results
PERFORMANCE 2025 STRONG SET OF RESULTS In 2025 OPERATING PROFIT FREE EBITDA MARGIN AFTER TAX CASH FLOW › we delivered our guidance, › positioning the 16.5% High profitability € 168 mn Profit after tax and earnings € 474 mn Second best company for driven by cost discipline per share up by >100% free
Slide 68: Solid balance sheet
PERFORMANCE 2025 SOLID BALANCE SHEET WORKING CAPITAL/ NET DEBT REVENUES LEVERAGE € 1.637 mn Strong cash flow 20% Substantial improvement vs. 2.2 X Solid leverage ratio at year-end Strong financial discipline focusing on working capital and and financial discipline prior year (2024: 24%) capacity eff
Slide 69: Stability in revenues and operating EBITDA
PERFORMANCE 2025 STABILITY IN REVENUES AND OPERATING EBITDA Revenues Operating EBITDA in € mn in € mn +1% –1% 120 4.566 760 –11 –9 14 754 -2% -1% +2% 4.513 –24 -1% –44 +3% -1% 2024 Organic Exchange Scope 2025 2024 Organic Exchange Scope 2025 growth rates growth rates Note: Data processing may result
Slide 70: Operational efficiency boosts competitiveness and limits impact of inflation
PERFORMANCE 2025 OPERATIONAL EFFICIENCY BOOSTS COMPETITIVENESS AND LIMITS THE IMPACT OF INFLATION OVERALL COST INFLATION +4% >€ 100 mn mainly driven by labor and energy cost OPERATIONAL EXCELLENCE STRICT COST DISCIPLINE FIT FOR GROWTH EBITDA contribution 2025: Overhead Expected savings in the range
Slide 71: Free cash flow
PERFORMANCE 2025 FREE CASH FLOW in € mn 2025 2024 Operating EBITDA Net interest 754 –101 760 –90 +14% Free cash flow up 2024 (417) Income tax paid –50 –98 Successful working capital management 104 139 Maintenance CAPEX –148 –135 Supported by solid working capital inflows Lease payments –77 –72 Other
Slide 72: Net debt
PERFORMANCE 2025 NET DEBT SOLID CAPEX MANAGEMENT Maintenance CAPEX 1.753 –474 66 1.637 € 148 mn 153 (2024: € 135 mn) 157 Growth CAPEX € 133 mn (2024: € 177 mn) M&A Net debt 31. 12. 2024 Free cash flow Growth CAPEX/M&A Dividend/Share buyback Other Net debt 31. 12. 2025 € 24 mn (Q1–3 2024: € 637 mn) L
Slide 73: Contribution for our shareholders
PERFORMANCE 2025 CONTRIBUTION FOR OUR SHAREHOLDERS Payout ratio Share buyback Dividend proposal 28% of free cash flow, in line € 30 mn (30 December 2025 to € 0.95/Aktie for financial year 2025 with 20–40% range 7 February 2025) Note: Data processing may result in rounding differences 73
Slide 74: Sustainability
PERFORMANCE 2025 Sustainability 74
Slide 75: Sustainability is an integral part of our strategy
PERFORMANCE 2025 SUSTAINABILITY IS AN INTEGRAL PART OF OUR STRATEGY 75
Slide 76: Sustainability – an important part of our strategy
PERFORMANCE 2025 SUSTAINABILITY – AN IMPORTANT PART OF OUR STRATEGY Cutting-edge Resource efficieny Sustainable growth production technology Through innovative Through innovation By continuously upgrading technologies and we reach our our plants, we save new methods we save sustainability targets si
Slide 77: Our Sustainability Program
PERFORMANCE 2025 Biodiversity Waste management Our Circularity Sustainability Revenues from products supporting net zero buildings Health & safety Program 2023–2026 Decarbonization and energy mix Training and HR development Social commitment Water management Diversity & inclusion 77
Slide 78: Revenue from products for net-zero buildings
PERFORMANCE 2025 REVENUE FROM PRODUCTS FOR NET-ZERO BUILDINGS Progress 2025 Baseline 2020 74.1% Target 2026 69% 75% 78
Slide 79: Revenue from long-lasting products
PERFORMANCE 2025 REVENUE FROM LONG-LASTING PRODUCTS (> 100 JAHRE) Progress 2025 Baseline 2023 83.9% Target 2026 81.3% > 80% 79
Slide 80: Revenue from reusable / recyclable products
PERFORMANCE 2025 REVENUE FROM REUSABLE / RECYCLABLE PRODUCTS Progress 2025 Baseline 2023 92.9% Target 2026 92 % > 90% 80
Slide 81: Scope 1 and 2 emissions reduction
PERFORMANCE 2025 REDUCTION SCOPE 1 & 2 EMISSIONS Progress 2025 Baseline 2023 –20.7% reduction Target 2026 2.6 mn tons –25% reduction 81
Slide 82: Scope 3 emissions reduction
PERFORMANCE 2025 REDUCTION SCOPE 3 EMISSIONS Progress 2025 Baseline 2023 –25.2% reduction Target 2026 3.2 mn tons –10% reduction 82
Slide 83: Share of renewable energy in own production
PERFORMANCE 2025 REDUCTION SHARE OF RENEWABLE ENERGY IN OWN PRODUCTION Progress 2025 Baseline 2023 12.6% share Target 2026 9.8% 15% share share 83
Slide 84: Outlook 2026
Ww) world of wienerberger Outlook 2026
Slide 85: Outlook 2026
OUTLOOK 2026 OUTLOOK 2026 Increase in operating EBITDA to Conflict in the Middle East ~ € 810 mn Impact on transport and trade flows Disruption of supply chains and logistics Market environment Our focus High volatility of raw material and energy prices Persistent geopolitical and Outperforming mark
Slide 86: Capital expenditure
OUTLOOK 2026 CAPITAL EXPENDITURE € 160 mn MAINTENANCE CAPEX € 100 mn GROWTH CAPEX (2025: € 148 mn) (2025: € 133 mn) + € 20 mn INVESTMENTS IN OCCUPATIONAL HEALTH AND SAFETY 86
Slide 87: We actively drive our growth with a clear focus
OUTLOOK 2026 WE ACTIVELY DRIVE OUR GROWTH WITH A CLEAR FOCUS, STRONG IMPLEMENTATION, AND A RESILIENT BUSINESS MODEL. 87