Wienerberger Ag · VIE:WIE
Wienerberger — Investor Day (October 2024)
36 slides from Wienerberger's investor day presentation, Oct 17, 2024
Slide 1: European Roofing Business: Innovations and Growth Strategies
EUROPEAN ROOFING BUSINESS INNOVATIONS AND GROWTH STRATEGIES Investor Day 2024 October 17, 2024
Slide 2: The expert and market leader in pitched roofing in Europe
THE EXPERT AND MARKET LEADER IN PITCHED ROOFING IN EUROPE 27% 1.3 bn € Roof Solutions ~ 75 mn Revenue share of m2 Group 2023 Revenue Capacity Figures 2023PF including Terreal and Creaton 2
Slide 3: Why pitched roofing?
WIENERBERGER ROOF SOLUTIONS OVERVIEW WHY PITCHED ROOFING? Economic/ Sustainability Most reliable advantage rainwater drainage Architectural choice – cultural heritage Higher technical performance Source: Tiles & Bricks Europe Association: 3 Pitched roof essential for quality housing
Slide 4: The biggest acquisition in Wienerberger's history
THE BIGGEST ACQUISITION IN WIENERBERGER’S HISTORY 725M€ 28 3,000 of additional revenues Production sites taken over New employees welcomed 4
Slide 5: Significant milestones in integration achieved early on
TERREAL/CREATON ACQUISITION SIGNIFICANT MILESTONES IN INTEGRATION ACHIEVED EARLY ON ▪ Fast integration – well prepared ▪ ONE combined organization per country as of day 1 ▪ Stronger teams with top talents of both companies ▪ Most powerful sales teams on the markets ▪ “ONE Face to the customer” after
Slide 6: Realization of synergies well on track
TERREAL/CREATON ACQUISITION REALIZATION OF SYNERGIES WELL ON TRACK › Focus on COST synergies › Savings in Overhead implemented › Plant network optimization and product portfolio rationalization started › Procurement synergies identified › Synergies for 2024 to be overachieved › Faster implementation
Slide 7: Industry leading footprint in Europe
WIENERBERGER ROOF SOLUTIONS OVERVIEW INDUSTRY LEADING FOOTPRINT IN EUROPE Roof tiles and accessories › 41 plants and ~100 production lines in Europe › 75m m2 capacity Roof component production › 5 plants in Europe › Roof underlays › Metal flashing › Rainwater management › Ridge/hip systems › Snow ho
Slide 8: 3 segments with significant growth potential
WIENERBERGER ROOF SOLUTIONS OVERVIEW 3 SEGMENTS WITH SIGNIFICANT GROWTH POTENTIAL Roof Tiles & Accessories Roof Components Solar Total Pitched Roof market1 Total Roof Component market2 Total Residential PV market3 ~ EUR 6bn ~ EUR 6bn ~ EUR 2.5bn wienerberger wienerberger wienerberger 17% 2% 5% 83% 9
Slide 9: Roof tiles and accessories
ROOF TILES AND ACCESSORIES Market share Pitched Roof wienerberger 17% Innovative & › Roof tiles aesthethic › Ridge/hip solutions for pitched roofs › Verge/ventilation Note: Total NS2 wienerberger and Terreal excl. solar and roof components 9
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Slide 11: Growth drivers roof tiles & accessories
ROOF TILES AND ACCESSORIES GROWTH DRIVERS ROOF TILES & ACCESSORIES MARKET CONSOLIDATION OTHER MATERIALS OPERATIONAL LEVERAGE RENOVATION MARKET Organic growth M&A 11
Slide 12: Renovation need for roofing is increasing
ROOF TILES AND ACCESSORIES RENOVATION NEED FOR ROOFING IS INCREASING 35m building units to be renovated by 2030 › 85% of EU buildings were built before 2000, 75% have a poor energy performance › Significant gap between 3% renovation rate required and current 1% run rate Major part of thermal energy
Slide 13: Countries are taking different approaches to achieve EU regulatory targets
ROOF TILES AND ACCESSORIES COUNTRIES ARE TAKING DIFFERENT APPROACHES TO ACHIEVE EU REGULATORY TARGETS EXAMPLE BELGIUM EXAMPLE AUSTRIA New energy standard from 1st Jan 2030 Target: Decarbonization of the Austrian › Next to the renovation obligation for new building sector until 2040 house owners also
Slide 14: Roof is the key to zero-emission buildings
ROOF TILES AND ACCESSORIES ROOF IS THE KEY TO ZERO- EMISSION BUILDINGS Roof system Roof tiles + underroof + insulation 50-60% Reduction of thermal loss Solar solutions PV + inverter + storage Zero on-site emissions from fossil fuels Calculation according to OIB guideline 6, based on typical roof str
Slide 15: Operational leverage from higher utilization
ROOF TILES AND ACCESSORIES OPERATIONAL LEVERAGE FROM HIGHER UTILIZATION Capacity Higher utilization/ 100% adjustment efficiency potential › Adaptations to lower › Market recovery market level › Renovation › Plant network potential optimization in 83% France and Germany › Phasing out of less 68% 68%
Slide 16: Customer preferences differ strongly across regions
ROOF TILES AND ACCESSORIES CUSTOMER PREFERENCES DIFFER STRONGLY ACROSS REGIONS Roofing material market share in pitched roof Europe (small elements) Other elements Clay 14% Concrete Metal 55% Clay 31% Concrete BUILDING TRADITIONS AND ARCHITECTURAL TRENDS ARE DEFINING THE MARKET PREFERENCES 16 Source
Slide 17: Organic growth potential concrete roof tiles
ROOF TILES AND ACCESSORIES ORGANIC GROWTH POTENTIAL CONCRETE ROOF TILES › Concrete is the No. 1 material in the UK, SCAN, HU, SK and has a strong share in CZ, IT and AT › Germany is the second largest concrete roof tile market in Europe after UK › wienerberger will further expand its strong position
Slide 18: Roof tiles market fairly consolidated
ROOF TILES AND ACCESSORIES ROOF TILES MARKET FAIRLY CONSOLIDATED Competitive landscape roof tiles Europe › wienerberger actively consolidated in the last years and is now market leader in Europe › BMI as only European wide competitor in pitched roof, also in flat roof › Some international players wi
Slide 19: Roof components
ROOF COMPONENTS Market share Roof Components wienerberger 2% Ridge & Hip systems Roof components Chimney Flashing Storm Fixation as part of the Roof Underlays Snow Retention solution ensuring Roof Windows Roof Gutter Systems functional Steam Exhaust Sets application Roof Inspection Note: Total NS2 r
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Slide 21: Strong growth in roof component turnover organically and through acquisitions
ROOF COMPONENTS STRONG GROWTH IN ROOF COMPONENT TURNOVER ORGANICALLY AS WELL AS THROUGH ACQUISITIONS Revenue Revenue Split 2023 in m€ 127 Other Roof Underlays 85 Roof Gutter Systems Steam Exhaust Sets 41 & Ventilation 28 Storm Fixation 2015 2018 2021 2023 & Snow Retention Chimney Flashing Ridge & Hi
Slide 22: Increasing vertical integration where value creating
ROOF COMPONENTS INCREASING VERTICAL INTEGRATION WHERE VALUE CREATING Revenue 2023 Buidling Product Design (underlays, rigdge and hip, flashing etc.) FloPlast in-house (rainwater traded goods 50% 50% production management) El Tec (ridge and hip rolls, flashing) Eurostroj (snow hooks) Achard (gutters,
Slide 23: Significant growth potential in pitched roof components
ROOF COMPONENTS SIGNIFICANT GROWTH POTENTIAL IN PITCHED ROOF COMPONENTS FOR WIENERBERGER Potential to leverage wienerberger’s strong market access › Increasing sales in complementary products › Intensify solutions selling through higher sales focus › Bolt-on acquisitions Total market potential reven
Slide 24: Example rainwater management: FloPlast and Achard
ROOF COMPONENTS EXAMPLE RAINWATER MANAGEMENT: FLOPLAST AND ACHARD COMPLEMENTING OUR ROOF COMPONENTS OFFERING › Provider of PVC rainwater systems in UK and Ireland › Specialist of steel and aluminum rainwater management › Wide choice of profile design, both traditional and solutions in France modern,
Slide 25: Solar
SOLAR Market share Residential PV wienerberger 5% Focus on in-roof PV systems and solutions services to ▪ Mounting systems become a full ▪ Custom & standard modules energy solution ▪ Inverters & storage ▪ Flashing provider ▪ Services Note: Total NS2 solar wienerberger and Terreal/Creaton 25
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Slide 27: In roof solutions: aesthetical advantage and better utilization of roof space
SOLAR IN ROOF SOLUTIONS: AESTHETICAL ADVANTAGE AND BETTER UTILIZATION OF ROOF SPACE On-roof solutions In-roof solutions › Cost effective › Higher price › Low margins › Higher margins › Artificial › Aesthetically superior › Tetris effect › Better utilization of roof space › Solar installer › Roofer 2
Slide 28: Wienerberger vision solar
SOLAR WIENERBERGER VISION SOLAR › No° 1 authority for photovoltaic as fully functional and aesthetic building material › Leader in In-Roof PV in Europe › Focus on roofers and solar installers as the main target groups 28
Slide 29: In-roof: a niche product today, but significant growth potential
SOLAR IN-ROOF: A NICHE PRODUCT TODAY, BUT SIGNIFICANT GROWTH POTENTIAL IN RENOVATION AND NEW BUILD EU Residential Solar Market Relevant market in-roof solutions ~2,5 GW New build Retrofit 10.0% on-roof ~15GW 4.0% Renovation 85.5% Retrofit in-roof 0.5% Total market: ~17 GW The EU's Energy Performance
Slide 30: Wienerberger targeting to become a full energy solution provider
SOLAR WIENERBERGER TARGETING TO BECOME A FULL ENERGY SOLUTION PROVIDER › Differentiated offering depending on market In-roof requirements Solar Roof Tiles › Complement system In-roof Focus: with inverters, batteries, Custom Modules ▪ Complete energy management In-roof package system Standard Modules
Slide 31: Conclusions
wienerberger CONCLUSIONS world of wienerberger
Slide 32: Sustainable roof solutions: from protection to multi-function
CONCLUSIONS SUSTAINABLE ROOF SOLUTIONS: FROM PROTECTION TO MULTI-FUNCTION Optimally using the surface on the roof - from electricity generation to rainwater collection and storage › Increasing regulatory pressure for energy neutral buildings and rainwater retention/seeping › Economic and sustainabil
Slide 33: Ideally positioned to provide solutions for total energy and rainwater management concepts
CONCLUSIONS IDEALLY POSITIONED TO PROVIDE SOLUTIONS FOR TOTAL ENERGY AND RAINWATER MANAGEMENT CONCEPTS COOLING PHOTOVOLTAIC HEAT PUMP RAINWATER MANAGEMENT INSULATION 33
Slide 34: Outperforming the market through organic growth and acquisitions
CONCLUSIONS OUTPERFORMING THE MARKET THROUGH ORGANIC GROWTH AND ACQUISITIONS… ROOF TILES ROOF COMPONENTS SOLAR › Utilizing existing capacities, › Increase turnover by leveraging › Roll-out of existing solar ORGANIC optimizing industrial footprint our market access offering in in-roof PV GROWTH › Gre
Slide 35: Supported by megatrends and regulatory changes
CONCLUSIONS …SUPPORTED BY MEGATRENDS AND REGULATORY CHANGES CLIMATE CHANGE DECARBONISATION MEGA- TRENDS SOLUTIONS STORM/HAIL PROTECTION RAINWATER MANAGEMENT ROOF RENOVATION ENERGY TRANSITION ROOF ROOF TILES ROOF TILES SYSTEM ROOF COMPONENTS OFFER PV MOUNTING/MODULES STORAGE/INFILTRATION PIPES DRAIN/
Slide 36: Roof solutions growth ambition
CONCLUSIONS ROOF SOLUTIONS GROWTH AMBITION >€2bn Organic growth and M&A €1.3bn Terreal/ › Market recovery, renovation potential Ambition Creaton › Optimization of our industrial network › Establish leader in In-Roof PV in Europe wienerberger › M&A: smaller consolidation steps in Roof Tiles, bolt-on