Wienerberger Ag · VIE:WIE
Wienerberger — FY 2025 Earnings Presentation
47 slides from Wienerberger's earnings presentation, Feb 24, 2026
Slide 1: FY 2025 Results
FY 2025 RESULTS 1
Slide 2: Cautionary Note Regarding Forward-Looking Statements
DISCLAIMER CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS › The information contained in this document has not been independently verified and no representation or warranty expressed or implied is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctne
Slide 3: FY 2025 Highlights: Strong Set of Results
FY 2025 – HIGHLIGHTS STRONG SET OF RESULTS In 2025, we delivered strong results, generated exceptional cash flow, and strengthened our balance sheet - fully delivering our guidance and positioning the company for self-funded growth. Operating EBITDA Margin Profit after tax Free cash flow 16.5% EUR 1
Slide 4: FY 2025 Highlights: Resilient Balance Sheet
FY 2025 – HIGHLIGHTS RESILIENT BALANCE SHEET Net debt Working capital / revenues EUR 1,637m 20% Strong cash flow and financial Strongly improved vs. prior year discipline reduced net debt (2024: 24%) Net debt / operating EBITDA 2.2x Strong financial discipline focusing on working capital and capacit
Slide 5: Further Market Slowdown Towards End of 2025
FY 2025 – HIGHLIGHTS FURTHER MARKET SLOWDOWN TOWARDS END OF 2025 VOLUME DEVELOPMENT | WIENERBERGER GROUP outlook delivered 6% EUR 750m EUR 754m 5% 4% 2% 2% 1% basis 2024 0% 0% -1% 0% › Severe cold -2% weather › Delivery problems low -4% temperature year-on-year -5% › Weak demand quarter-on-quarter -
Slide 6: Business Environment FY 2025 – Europe West
BUSINESS ENVIRONMENT FY 2025 – PER REGION BUSINESS ENVIRONMENT – EUROPE WEST Revenue Split MARKET INDICATORS EUROPE WEST Renovation 17% Infrastructure TOTAL HOUSING STARTS +1% 36% (EST. FY ‘25 vs FY ‘24) New build CIVIL ENGINEERING CONSTRUCTION OUTPUT +1% (EST. FY ‘25 vs FY ‘24) 47% LONG-TERM BORROW
Slide 7: Business Environment FY 2025 – Europe East
BUSINESS ENVIRONMENT FY 2025 – PER REGION BUSINESS ENVIRONMENT – EUROPE EAST Revenue Split MARKET INDICATORS EUROPE EAST Renovation Infrastructure 24% TOTAL HOUSING STARTS -2% (EST. FY ‘25 vs FY ‘24) New build 48% CIVIL ENGINEERING CONSTRUCTION OUTPUT +1% 29% (EST. FY ‘25 vs FY ‘24) LONG-TERM BORROW
Slide 8: Business Environment FY 2025 – North America
BUSINESS ENVIRONMENT FY 2025 – PER REGION BUSINESS ENVIRONMENT – NORTH AMERICA Revenue Split Renovation 20% Infrastructure NORTH AMERICA New build MARKET INDICATORS 22% 58% TOTAL HOUSING STARTS -9% (EST. FY ‘25 vs FY ‘24) LONG-TERM BORROWING RATE 6.8% / 6.3% / 6.1%** (JUN ‘25 / SEP ‘25 / DEC ’25) VO
Slide 9: Successfully Migrated Toward Renovation & Infrastructure
WIENERBERGER’S STRATEGIC TRANSFORMATION WIENERBERGER HAS SUCCESSFULLY MIGRATED TOWARD RENOVATION & INFRASTRUCTURE Operating EBITDA margin development 19% 20% 16.8% 16.5% 45% 43% 35% 38% 2024 2025 Renovation Infrastructure New build 2024 2025 wienerberger is able to maintain profitability and earning
Slide 10: Financials
FINANCIALS 10
Slide 11: FY 2025 Strong Results Fully Delivering Our Guidance
FINANCIALS FY 2025 - GROUP FY 2025 STRONG RESULTS FULLY DELIVERING OUR GUIDANCE Revenues Operating EBITDA (in EURm) (in EURm) +1% -1% 4,513 4,566 760 754 16.8% 16.5% 2024 2025 2024 2025 11
Slide 12: Revenue Stability from Renovation; EBITDA Underpinned by Efficiency
FINANCIALS FY 2025 - GROUP REVENUE STABILITY FROM RENOVATION; EBITDA UNDERPINNED BY EFFICIENCY IMPROVEMENTS Revenue Bridge Operating EBITDA Bridge in EURm in EURm +1% -1% 120 4,566 760 -11 -9 14 754 4,513 -24 -44 -2% -1% +2% 16.8% 16.5% -1% -1% +3% 2024 Organic FX Scope 2025 2024 Organic FX Scope 20
Slide 13: Operational Efficiencies Strengthened Competitiveness and Limited Inflation Impact
FINANCIALS FY 2025 OPERATIONAL EFFICIENCIES STRENGTHENED COMPETITIVENESS AND LIMITED IMPACT OF INFLATION Overall cost inflation EUR ~30m overhead of +4%, EUR >100m savings Mainly driven by labour From strict cost discipline and energy cost 13
Slide 14: Increased Efficiency Supports Our Profitability
FINANCIALS FY 2025 INCREASED EFFICIENCY SUPPORTS OUR PROFITABILITY Operational Excellence Fit For Growth Program started in Q3 2025 Production measures and Process optimization across all capacity optimization over the organizational levels – last years from holding to operations Ensuring continued
Slide 15: Operating Segments - Europe West
FINANCIALS FY 2025 – SEGMENTS OPERATING SEGMENTS - EUROPE WEST Revenues Operating EBITDA (in EURm) (in EURm) COMMENTS +6% › Revenues up 6%, driven by demand for Roof and Pipe 2,686 +17% 2,544 solutions. 408 › Dependence on new build end 350 market declining, while wall segment remains challenging. 1
Slide 16: Operating Segments - Europe East
FINANCIALS FY 2025 – SEGMENTS OPERATING SEGMENTS - EUROPE EAST Revenues Operating EBITDA (in EURm) (in EURm) COMMENTS › Revenues up 1%, mainly +1% reflecting higher volumes and market share recovery in the 1,169 1,180 clay block business. -2% › Operating EBITDA decline 219 214 from continuous cost i
Slide 17: Operating Segments - North America
FINANCIALS FY 2025 – SEGMENTS OPERATING SEGMENTS - NORTH AMERICA Revenues Operating EBITDA (in EURm) (in EURm) COMMENTS › Revenues declined by 12%, -12% primarily due to decreasing 799 -31% façade brick volumes from 700 weak new residential demand. 191 › Piping volumes performed 132 steadily, while
Slide 18: Free Cash Flow
FINANCIALS FY 2025 - GROUP FREE CASH FLOW in EURm 2025 2024 Free cash flow increased by 14% Operating EBITDA 754 760 Net interest -101 -90 › Supported by solid working capital inflows Income taxes paid -50 -98 Change in working capital 104 139 › Lower taxes in 2025, due to higher tax prepayments in
Slide 19: Net Debt as of 31/12/2025
FINANCIALS FY 2025 - GROUP NET DEBT AS OF 31/12/2025 1,753 -474 66 1,637 Solid CAPEX management 135 157 › Maintenance CAPEX of EUR 148m (2024 EUR 135m) › in EURm Growth CAPEX of EUR 133m (2024 EUR 177m) › M&A EUR 24m (2024 EUR 637m) Net Debt Free Growth CAPEX/ Dividends/ Other Net Debt 31.12.2024 Ca
Slide 20: Robust Balance Sheet Allows for Further Self-Funded Growth
FINANCIALS FY 2025 ROBUST BALANCE SHEET ALLOWS FOR FURTHER SELF-FUNDED GROWTH Balance sheet (condensed) Working capital & net debt focus in EURm 2025 2024 in EURm 2025 2024 Non-current assets 4,130 4,173 Non-current assets 4,130 4,173 Inventories 1,329 1,341 + Inventories 1,329 1,341 Trade receivabl
Slide 21: Attractive Shareholder Return
FINANCIALS FY 2025 - GROUP ATTRACTIVE SHAREHOLDER RETURN › Dividend proposal for the FY 2025 of EUR 0.95 per share › Share buyback EUR 30m (December 30, 2024-February 7, 2025) › Payout ratio of 28% of free cash flow, in line with 20-40% range 213 104 104 100 95 95 86 32 30 26 20 0 2020 2021 2022 202
Slide 22: Outlook
OUTLOOK 2222
Slide 23: 2026 Key Assumptions
OUTLOOK 2026 KEY ASSUMPTIONS Key assumptions We focus on optimization and efficiency › No structural recovery in residential construction, measures… paired with flat markets and limited demand › Fit for Growth program › Flat infrastructure & renovation market › Further consolidation of plant network
Slide 24: Wienerberger-Specific Energy Inflation
OUTLOOK WIENERBERGER-SPECIFIC ENERGY INFLATION Wienerberger-specific energy inflation ~EUR 30m from increase in the portfolio price from EUR 24 to EUR 32 per MWH in natural gas. Externally driven No compensation Portfolio price at the Highest energy costs of portfolio price possible through price sa
Slide 25: Wienerberger-Specific Energy Inflation of EUR 30m in 2026
OUTLOOK WIENERBERGER-SPECIFIC ENERGY INFLATION OF EUR 30M IN 2026 Note: Consultant-managed portfolio only (Schneider) // Rounding differences may arise from automatic processing of data 25
Slide 26: Capital Expenditure
OUTLOOK CAPITAL EXPENDITURE EUR 160m Maintenance CAPEX EUR 100m (2025: EUR 148m) Growth CAPEX (2025: EUR 133m) +EUR 20m Secure Zone Action Plan 26
Slide 27: No Market Recovery Expected in 2026
WIENERBERGER GROUP – VOLUME DEVELOPMENT NO MARKET RECOVERY EXPECTED IN 2026 VOLUME DEVELOPMENT | WIENERBERGER GROUP Guidance 2025 EUR 750m 2% ~ -3% below H1 2025 1% basis 2024 0% 0% -1% 0% -1% -5% year-on-year -5% quarter-on-quarter H1 2025 Q1-Q3 2025 FY 2025 EST. H1 2026 EST. H2 2026 27
Slide 28: Outlook of Ongoing Business
OUTLOOK OUTLOOK OF ONGOING BUSINESS 790 30 36 760 754 One-off in EURm 2026 Operating EBITDA Optimization & Self-help Operating EBITDA 2026 wienerberger-specific Operating EBITDA 2026 2025 without energy inflation energy inflation Note: Operating EBITDA in EURm // Rounding differences may arise from
Slide 29: Our Next Growth Chapter
• OUR next growth chapter • CMD chart 124 29
Slide 30: Acquisition of Italcer - Supporting Growth in Renovation Market
Acquisition of Italcer - supporting growth by increasing share in renovation market 30
Slide 31: Acquisition of Italcer
ACQUISITION OF ITALCER Italcer Group, a globally active producer of high-end ceramic solutions with manufacturing hubs in Italy and Spain Strengthens wienerberger’s position in the growing renovation segment Serves asa new growth platform wienerberger 31
Slide 32: Acquisition of Italcer: Key Investment Highlights
ACQUISITION OF ITALCER Aquisition of Italcer Key investment highlights Leading multi-brand specialist platform High-end innovative products Solid growth outperforming the market Highly successful buy-and-build platform Strong and committed management team Well-invested industrial base ready for grow
Slide 33: Acquisition of Italcer: Transaction Structure
ACQUISITION OF ITALCER Transaction structure wienerberger has entered into a two-step transaction structure Acquisition of 50% + 1 share in 2026 Closing is expected in Q2 26 and remains subject to customary closing conditions Call option to acquire the remaining shares on pre-agreed terms in late Q1
Slide 34: Acquisition of Italcer: Fast Integration
ACQUISITION OF ITALCER Fast Integration to drive growth and unlock synergies Targeting a low-disruption integration of a well-run business Highly committed Italcer leadership team will continue developing Italcer Commercial front-end will remain largely unchanged Capture high-value growth opportunit
Slide 35: Acquisition of Italcer in a Nutshell
ACQUISITION OF ITALCER IN A NUTSHELL Expands wienerberger’s Offers clear Strengthens its position portfolio in the attractive operational and in the European premium façade systems sustainability renovation segment market synergies Italcer EBITDA Highly Enhances the scope contribution attractive fin
Slide 36: Wienerberger 2026 Guidance Including Italcer
OUTLOOK WIENERBERGER 2026 GUIDANCE INCLUDING ITALCER 810 790 50 36 30 760 754 One-off 2026 in EURm Operating EBITDA Optimization Operating EBITDA one-off wienerberger- Operating EBITDA Italcer financial impact* Operating EBITDA 2025 & self-help 2026 without specific energy inflation 2026 guidance 20
Slide 37: Stable Targeted Leverage of 2.2x Through EUR 220 Million Mitigation Measures
LEVERAGE RATIO 2026 STABLE TARGETED LEVERAGE OF 2.2X THROUGH € 220 MILLION MITIGATION MEASURES 2,037 220 400 ~1,817 1,637 working capital optimization, in EURm reduction of 2.2x 2.5x CAPEX and sale 2.2x of non-core properties Net debt 2025 Italcer Net debt after Italcer acquisition Mitigation measur
Slide 38: Outlook 2026
OUTLOOK Outlook 2026 Improvement in operating EBITDA to ~ 810 million EUR Market environment We focus on… › Persistent geopolitical and › Outperforming markets macroeconomic uncertainty › Debt reduction › No structural recovery in › Strong cash flow generation residential construction › Expanding ea
Slide 39: Q&A Thank You for Your Attention
Q&A THANK YOU FOR YOUR ATTENTION. 39
Slide 40: Contact Details
CONTACT DETAILS investor@wienerberger.com www.wienerberger.com investor@wienerberger.com | +43 1 60192 10221 | www.wienerberger.com | ISIN: AT0000831706 | ADR ISIN: US9676621074 Financial Calendar and upcoming events in 2026 Follow us on LinkedIn! Date Event 24/02/2026 Capital Markets Day 05/03/2026
Slide 41: Appendix
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Slide 42: Condensed Consolidated Income Statement
APPENDIX CONDENSED CONSOLIDATED INCOME STATEMENT in EURm 2025 2024 Revenues 4,566 4,513 Cost of goods sold -2,963 -2,902 Gross profit 1,603 1,610 Gross margin (in %) 35.1 35.7 Selling and administrative expenses -1,274 -1,243 Other operating income and expenses 3 -74 EBIT 332 294 Financial result -9
Slide 43: Condensed Consolidated Balance Sheet
APPENDIX CONDENSED CONSOLIDATED BALANCE SHEET in EURm 31/12/2025 % 31/12/2024 % Property, plant and equipment 2,902 47 2,923 46 Goodwill 593 10 593 9 Other intangible assets 465 8 479 7 Other non-current assets 170 3 178 3 Non-current assets 4,130 67 4,173 65 Cash and cash equivalents and other fina
Slide 44: Condensed Consolidated Statement of Cash Flows
APPENDIX CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS in EURm 2025 2024 Profit after tax 168 84 Depreciation, amortization, and impairment of assets 389 413 Other adjustments -32 -30 Changes in working capital 104 139 Cash flows from operating activities 630 606 Maintenance capex -148 -135 Growth
Slide 45: 10-Year Overview
APPENDIX 10-YEAR OVERVIEW Revenue (in EURbn) 5.0 4.2 4.5 4.6 4.0 3.1 3.3 3.5 3.4 3.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 EBITDA reported (in EURm) Operating EBITDA (in EURm) 1,021 811 760 754 694 610 558 404 415 443 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Free Cash Flow (in E
Slide 46: 3 Year Overview by Quarter
APPENDIX 3 YEAR OVERVIEW BY QUARTER Revenue (in EURm) 4,513 4,566 4,224 1,150 1,261 1,179 1,121 1,099 1,247 1,170 1,052 1,083 939 953 1,049 Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Operating EBITDA (in EURm) 811 760 754 2
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