Wienerberger AG · VIE:WIE

Wienerberger — Q1 2016 Earnings Presentation

25 slides from Wienerberger's earnings presentation, 2016

  1. Slide 1: Investor and Analyst Presentation Results Q1 2016

    Investor and Analyst Presentation Results Q1 2016

  2. Slide 2: Disclaimer

    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 correctn

  3. Slide 3: Highlights Q1 2016

    Highlights Q1 2016 ► Stable revenues and clear earnings increase  Revenue: € 610.8 mn (0%)  Operating EBITDA: € 40.1 mn (+18%) ► Revenue development:  Improvement of average prices to cover cost inflation  Slight organic volume decline > Growth in CBME and North America | Decline in P&P  Negati

  4. Slide 4: Highlights Q1 2016

    Highlights Q1 2016 ► Clay Building Materials Europe  Slight improvement of average prices to cover cost inflation  Higher volumes of clay blocks and roof tiles overcompensate volume decline in facing bricks ► Pipes & Pavers Europe  Earnings improvement despite lower sales volumes in plastic pipe

  5. Slide 5: Stable revenue development and clear earnings increase in Q1 2016

    Stable revenue development and clear earnings increase in Q1 2016 Revenue: Operating EBITDA 1): € 610.8 mn € 40.1 mn (Q1 2015: € 612.5 mn | 0%) (Q1 2015: € 34.0 mn | +18%) Net debt: Gross cash flow: € 786.1 mn € 32.4 mn (31/3/2015: € 841.1 mn | -7%) (Q1 2015: € 21.8 mn | +49%) 1) Adjusted for non-re

  6. Slide 6: Income statement Q1 2016

    Income statement Q1 2016 in € mn 1-3/2015 1-3/2016 Chg. in % Revenues 612.5 610.8 0 Operating EBITDA 1) 34.0 40.1 +18 Operating EBITDA margin 5.6% 6.6% - Depreciation -52.1 -47.5 +9 Operating EBIT 1) -18.1 -7.4 +59 Financial results -13.7 -8.4 +38 thereof net interest result -10.4 -8.2 +21 thereof i

  7. Slide 7: Results by Segment

    Results by Segment Revenue: € 610.8 mn | 0% Op. EBITDA 1): € 40.1 mn | +18% Clay Building Pipes & Pavers North Holding Materials Europe Europe America & Others +1% +14% +8% >100% -7% +10% -14% <-100% +18% >100% 300 255 250 200 in € mn 150 131 100 87 72 63 50 24 6 15 2 2 0 -1 -6 -50 CBM Western CBM E

  8. Slide 8: Cash flow development

    Cash flow development in € mn 1-3/2015 1-3/2016 Chg. in € mn Chg. in % Gross cash flow 21.8 32.4 +10.6 +49 Change in working capital -171.3 -209.7 -38.4 -22 Normal capex -25.3 -27.2 -1.9 -8 Divestments and other -3.6 -6.5 -2.9 -80 Free cash flow -178.4 -211.1 -32.7 -18 Growth capex -1.6 -12.5 -10.9

  9. Slide 9: Development of net debt

    Development of net debt 900 +212.3 786.1 800 700 600 +39.7 534.1 +32.5 500 in € mn -32.4 400 300 200 100 0 31/12/2015 Gross cash flow Dividend / hybrid coupon Total investments Working capital & 31/3/2016 Others Note: Rounding differences may arise from automatic processing of data 9

  10. Slide 10: Strong balance sheet

    Strong balance sheet Chg. in % vs. in € mn 31/12/2015 31/3/2015 31/3/2016 31/12/2015 Equity 1) 2,054.2 2,070.8 1,980.9 -4 Net debt 534.1 841.1 786.1 +47 Equity ratio 56% 52% 53% - Gearing 26% 41% 40% - Change in net debt: ► Seasonal build-up of working capital in Q1 2016: € 209.7 mn ► Reduction by 7

  11. Slide 11: Strong liquidity and balanced financing structure

    Strong liquidity and balanced financing structure ► Cash 31/3/2016: € 98 mn ► Credit lines: € 400 mn  thereof drawn 31/3/2016: € 235 mn  thereof undrawn 31/3/2016: € 165 mn ► Term structure: 400 Undrawn 300 credit lines in € mn 200 Drawn Hybrid Hybrid credit lines 2014 100 2007 0 2016 2017 2018 20

  12. Slide 12: Wienerberger Segments

    Nh Wienerberger Wienerberger Segments

  13. Slide 13: Clay Building Materials Western Europe Results 1-3/2016

    Clay Building Materials Western Europe Results 1-3/2016 CBM Western Europe (in € mn) 1-3/2015 1-3/2016 Chg. in % Ext. revenues 1-3/2016 External revenues 251.9 255.0 +1 Operating EBITDA 1) 20.8 23.6 +14 Operating EBITDA margin 8.3% 9.3% - 42% Operating EBIT 1) -0.2 5.5 >100 1) Adjusted for non-recur

  14. Slide 14: Clay Building Materials Eastern Europe Results 1-3/2016

    Clay Building Materials Eastern Europe Results 1-3/2016 CBM Eastern Europe (in € mn) 1-3/2015 1-3/2016 Chg. in % Ext. revenues 1-3/2016 External revenues 80.5 86.8 +8 Operating EBITDA 1) 1.1 5.9 >100 Operating EBITDA margin 1.4% 6.8% - Operating EBIT 1) -11.6 -5.5 +53 14% 1) Adjusted for non-recurri

  15. Slide 15: Pipes & Pavers Western Europe Results 1-3/2016

    Pipes & Pavers Western Europe Results 1-3/2016 P&P Western Europe (in € mn) 1-3/2015 1-3/2016 Chg. in % Ext. revenues 1-3/2016 External revenues 140.8 131.1 -7 Operating EBITDA 1) 13.5 14.8 +10 Operating EBITDA margin 9.6% 11.3% - 21% Operating EBIT 1) 7.2 8.7 +21 1) Adjusted for non-recurring incom

  16. Slide 16: Pipes & Pavers Eastern Europe Results 1-3/2016

    Pipes & Pavers Eastern Europe Results 1-3/2016 P&P Eastern Europe (in € mn) 1-3/2015 1-3/2016 Chg. in % Ext. revenues 1-3/2016 External revenues 83.6 72.1 -14 Operating EBITDA 1) 1.0 -0.9 <-100 12% Operating EBITDA margin 1.2% -1.2% - Operating EBIT 1) -4.2 -6.0 -43 1) Adjusted for non-recurring inc

  17. Slide 17: North America Results 1-3/2016

    North America Results 1-3/2016 North America (in € mn) 1-3/2015 1-3/2016 Chg. in % Ext. revenues 1-3/2016 External revenues 53.5 63.2 +18 10% Operating EBITDA 1) 1.1 2.3 >100 Operating EBITDA margin 2.0% 3.6% - Operating EBIT 1) -5.0 -3.9 +22 1) Adjusted for non-recurring income and expenses ► US re

  18. Slide 18: Outlook 2016

    Nh Wienerberger Outlook 2016

  19. Slide 19: Strategic focus 2016

    Strategic focus 2016 INNOVATIVE PRODUCTS AND SYSTEM SOLUTIONS OPERATIONAL EXCELLENCE COMPLETION OF THE SALE OF NON-OPERATING ASSETS PROGRAM GROWTH PROJECTS AND PORTFOLIO OPTIMIZATION 19

  20. Slide 20: Growth capex of ~€40 mn in 2016

    Growth capex of ~€ 40 mn in 2016 ► Growth investments include:  Purchase of a clay block plant in both Poland and Romania > Improve the geographic market coverage > Expand our market position  Takeover of a majority interest in a plastic pipe producer in Finland > Complement the product portfolio

  21. Slide 21: Management forecast: Development of residential construction 2016

    Wienerberger Management forecast: Development of residential construction 2016 Mountain Region Midwest Mid-Atlantic +10% +4% +12% +2% -6% +1% Southeast +3% +4% Source: Management estimate (Housing starts) +1% +13% +8% -6% +12% -2% +2% Market growth (>2%) Stable development Market decline (<-2%) Sour

  22. Slide 22: Management forecast: Roof tile renovation market 2016

    Wienerberger Management forecast: Roof tile renovation market 2016 ► Ongoing weakness in the renovation market  Lack of public incentive programs  Postponements of thermal renovation projects due to lower energy prices  Public budget constraints limit monument protection spending +3% Market growt

  23. Slide 23: Outlook by Division

    Outlook by Division ► Clay Building Materials Europe  Slightly positive development in residential construction > Positive trends in F, NL, HU, RO, BG and PL > Lower market growth in UK > Slightly positive residential construction activity in AT and GER > Market decline in B, CH, IT and RU ► Pipes

  24. Slide 24: Wienerberger Group: Outlook 2016

    Wienerberger Group: Outlook 2016 Operating Group EBITDA € 405 mn thereof: Sale of non-operating assets € 15 mn Price | Costs * ~ 1.0% | ~ 1.5% Depreciation ~ € 200 mn Net interest result ~ € -35 mn Working Capital in % of revenue at year-end ~ 20% Normal capex ~ € 145 mn Growth capex ~ € 40 mn * Div

  25. Slide 25: Thank you for your attention!

    Wienerberger Investor Relations Wienerberger AG, A-1100 Vienna, Wienerberg City, Wienerbergstrasse 11 T +43 1 60192 10221 / F +43 1 60192 10425, [email protected] / www.wienerberger.com Thank you for your attention!

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