Wienerberger AG · VIE:WIE

Wienerberger — Q3 2013 Earnings Presentation

21 slides from Wienerberger's earnings presentation, Nov 13, 2013

  1. Slide 1: Investor and Analyst Presentation Financial Results Q1-3 2013

    Investor and Analyst Presentation Financial Results Q1-3 2013 November 13, 2013 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 n

  2. Slide 2: Successful Diversification Strategy Broadens Industrial Base

    Successful Diversification Strategy Broadens Industrial Base Bricks & Tiles Europe Pipes & Pavers Europe North America 8% Revenues 1-9/2013 53% 39% 200 200 200 op. EBITDA in € mn 156 160 132 160 160 120 120 120 81 80 80 51 80 40 40 40 6 10 0 0 0 1-9/2012 1-9/2013 1-9/2012 1-9/2013 1-9/2012 1-9/2013

  3. Slide 3: Normalization of Market Environment in Bricks & Tiles Europe

    Normalization of Market Environment in Bricks & Tiles Europe Division Continued in Q3  Volume growth in all product groups in Q3 | Moderate volume decline in Q1-3 after weather-related weak start into the year  Prices are stable: Price increases in line with cost inflation in Western Europe | Proa

  4. Slide 4: Overview: Wienerberger Q1-3 2013

    Overview: Wienerberger Q1-3 2013 Volumes Prices Bricks & Tiles Western Europe Bricks & Tiles Eastern Europe North America Pipelife Steinzeug-Keramo Semmelrock 7 Diversification Strategy Yields Earnings Growth Despite Challenging Markets in Q1-3 2013 Revenue: Operating EBITDA 1): € 2,034.0 mn € 210.5

  5. Slide 5: We Have Anticipated the Trends for the Future

    We Have Anticipated the Trends for the Future… 1. Climate Change | Energy Efficiency 4. Generations  Energy and Buildings  Young families Directive 2020 / energy are first-time neutral buildings home buyers  Floods  Barrier-free homes for 2. Urbanization senior citizens  Increasing urbanization

  6. Slide 6: Results Q1-3 2013 Income Statement

    Results Q1-3 2013 11 Income Statement Q1-3 in € mn 1-9/2012 1-9/2013 Chg. in % Revenues 1,743.9 2,034.0 +17 Operating EBITDA 1) 201.6 210.5 +4 Operating EBITDA margin 11.6% 10.3% - Depreciation -142.0 -155.7 -10 Operating EBIT 1) 59.6 54.8 -8 Operating EBIT margin 3.4% 2.7% - Restructuring costs and

  7. Slide 7: Loss after tax of € 5.6 mn in Q1-3 2013

    Loss after tax of € 5.6 mn in Q1-3 2013 in € mn 1-9/2012 1-9/2013 Chg. in % EBIT 50.7 54.8 +8 Income from investments in associates 3.9 -1.7 <-100 Interest and similar income 8.2 5.1 -38 Interest and similar expenses -42.4 -44.9 -6 Other financial results 37.0 -6.9 <-100 Financial results 6.6 -48.4

  8. Slide 8: Profit after tax of € 25.4 mn in Q3 2013

    Profit after tax of € 25.4 mn in Q3 2013 in € mn Q3 2012 Q3 2013 Chg. in % EBIT 43.6 49.9 +14 Income from investments in associates 2.0 3.4 +70 Interest and similar income 1.3 1.2 -8 Interest and similar expenses -14.4 -15.7 -9 Other financial results -3.6 -3.3 +8 Financial results -14.8 -14.3 +3 Pr

  9. Slide 9: Stable Prices in Challenging Environment in Q1-3 2013

    Stable Prices in Challenging Environment in Q1-3 2013  Bricks & Tiles Europe - Western Europe: Price increases in line with cost inflation despite challenging market conditions - Eastern Europe: Continued price pressure for building materials as a result of demanding market conditions especially in

  10. Slide 10: Results Q1-3 2013 by Product

    Results Q1-3 2013 by Product Revenues: € 2,034.0 mn | +17% EBITDA1): € 210.5 mn | +4% Holding & Holding & Others Others 2) 0% -11% Wall Wall 23% 23% Pipes 37% Pipes 37% Roof 14% Surface Roof Surface 4% 30% 4% Facade Facade 22% 17% 1) Adjusted for non-recurring income and expenses 2) Includes holding

  11. Slide 11: Cash Flow Development

    Cash Flow Development in € mn 1-9/2012 1-9/2013 Chg. in € mn Chg. in % Gross cash flow 146.7 150.5 +3.8 +3 Change in working capital 1) -98.1 -113.1 -15.0 -15 Normal investments -65.1 -63.6 1.5 +2 Divestments and other 21.8 11.2 -10.6 -49 Free cash flow 5.3 -15.0 -20.3 <-100 Growth investments -160.

  12. Slide 12: Total Investments of € 64.2 mn in Q1-3 2013

    Total Investments of € 64.2 mn in Q1-3 2013 in € mn 1-9/2012 1-9/2013 Chg. in % Normal capex 65.1 63.6 -2 in % of depreciation 46% 41% - Growth investments 160.9 0.5 -100 thereof Pipelife 146.6 0.0 -100 Total investments 226.0 64.2 -72  Pipelife takeover drives growth investments in Q1-3 2012  Nor

  13. Slide 13: Strong Balance Sheet: Q1-3 2013 Development

    Strong Balance Sheet: Q1-3 2013 Development Dominated by Working Capital Build-Up Chg. in % vs. in € mn 30/9/2012 31/12/2012 30/9/2013 31/12/2012 Equity 1) 2,495 2,364 2,267 -4 Net debt 749 602 663 +10 Equity ratio 57% 57% 53% - Gearing 30% 26% 29% - Changes to net debt:  Build-up of working capita

  14. Slide 14: Treasury Ratios

    Treasury Ratios 3) 3) Treasury Ratios 30/9/2012 31/12/2012 30/9/2013 Covenant Net debt / operating EBITDA 1) 2.7 2.2 2.6 <3.50 Operating EBITDA 1) / interest result 2) 5.5 5.0 4.5 >3.75 1) Adjusted for non-recurring income and expenses; Calculated based on 12-month EBITDA 2) Calculated based on 12-m

  15. Slide 15: Bricks & Tiles Western Europe

    Bricks & Tiles Western Europe Results 1-9/2013 Share of Group Ext. Share of Group B&T Western Europe (in € mn) 1-9/2012 1-9/2013 Chg. in % Revs. 1-9/2013 EBITDA 1-9/2013 External revenues 869.7 822.6 -5 Operating EBITDA 1) 114.1 101.4 -11 41% 48% Operating EBITDA margin 13.1% 12.3% - Operating EBIT

  16. Slide 16: Pipes & Pavers Western Europe

    Pipes & Pavers Western Europe Results 1-9/2013 Share of Group Ext. Share of Group P&P Western Europe (in € mn) 1-9/2012 1-9/2013 Chg. in % Revs. 1-9/2013 EBITDA 1-9/2013 External revenues 259.8 460.8 +77 Operating EBITDA 1) 31.2 52.5 +68 Operating EBITDA margin 12.0% 11.4% - 25% 23% Operating EBIT 1

  17. Slide 17: North America

    North America Results 1-9/2013 Share of Group Ext. Share of Group North America (in € mn) 1-9/2012 1-9/2013 Chg. in % Revs. 1-9/2013 EBITDA 1-9/2013 External revenues 142.0 171.2 +21 8% 5% Operating EBITDA 1) 5.6 9.6 +71 Operating EBITDA margin 3.9% 5.6% - Operating EBIT 1) -11.9 -7.4 +38 1) Adjuste

  18. Slide 18: Wienerberger Expectation: Further Significant Decline of New Residential Construction

    Wienerberger Expectation: Further Significant Decline of New Residential Construction WB management forecast Europe: SFH starts 2013 Partially significant USA: Positive development declines expected in F, NL, B, PL, CZ and HU Mountain Region Midwest -17% Mid-Atlantic +9% -11% -5% -1% -5% -6% SFH +17

  19. Slide 19: Outlook 2013: Revenue and Earnings Growth Expected

    Outlook 2013: Revenue and Earnings Growth Expected  Weather-related EBITDA-shortfall in H1: ~ € 20 mn  Bricks & Tiles Europe: - Moderate volume decline expected for 2013  volume growth in H2 - Savings from cost optimization program are realized according to plan - Prices are expected to remain st

  20. Slide 20: Implementation of Restructuring Program on Schedule

    Implementation of Restructuring Program on Schedule  Restructuring program in implementation with a focus on the Netherlands, Belgium, Germany and France  Optimization measures include mothballing of plants, reduction of shifts and headcount reductions in administration  Cost savings: € 14.2 mn i

  21. Slide 21: Thank you for your attention!

    Thank you for your attention! Wienerberger Investor Relations Wienerberger AG, A-1100 Wien, Wienerbergstrasse 11 Tel +43 1 60192 - 10221, Fax +43 1 60192 - 10425 [email protected] | www.wienerberger.com 41 21

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