Wienerberger AG · VIE:WIE

Wienerberger — 9M 2011 Earnings Presentation

18 slides from Wienerberger's earnings presentation, Nov 9, 2011

  1. Slide 1: Investor and Analyst Presentation

    Investor and Analyst Presentation Results 1-9/2011 | Capital Structure and Financing | Operating Segments | Share Buy-back | Outlook Vienna, November 9, 2011 Disclaimer Cautionary note regarding forward-looking statements  The information contained in this document has not been independently verifi

  2. Slide 2: Very Different Market Developments in Individual Markets in 2011

    Very Different Market Developments in Individual Markets in 2011 North America Further difficult market environment Eastern Europe Slight growth in PL, CZ and RUS Western Europe Further difficult market environment Slight growth in GER, F, B, CH in Southeastern Europe UK and Italy stable on low leve

  3. Slide 3: Development of significant group markets / Q3 at a Glance

    Development of significant group markets vs. Wienerberger volume growth in Q1-Q3 Market Wienerberger Slightly growing demand for building materials: Following strong growth in H1, moderate weakening of Moderate volume growth in all Belgium new residential construction in Q3 product groups Renovation

  4. Slide 4: Reverse Trend in Average Prices

    Reverse Trend in Average Prices  Successful implementation of price increases in line with cost inflation  Positive effects through shift in product mix to value added products FY 2010: -5 % in average prices vs. FY 2009 1-3/2011: -1 % in average prices vs. 1-3/2010 1-6/2011: +1 % in average price

  5. Slide 5: Significant Increase in Operating Results

    Significant Increase in Operating Results in € mn 1-9/2010 1-9/2011 Chg. in % Revenues 1,343.3 1,555.2 +16 Operating EBITDA 1) 160.5 213.7 +33 Operating EBITDA margin 11.9% 13.7% - Depreciation -142.9 -151.5 -6 Operating EBIT 1) 17.6 62.2 >100 Operating EBIT margin 1.3% 4.0% - One-off effect Bramac

  6. Slide 6: Results 1-9/2011 by Region and Product

    Results 1-9/2011 by Region Revenues: € 1,555.2 mn | +16% EBITDA 1): € 213.7 mn | +33% Investments Central-West North America & Other North America 3% Europe -3% Investments 7% 17% & Other -3% Central-East Europe Central-West 29% Central-East Europe Europe 22% 39% North-West North-West Europe Europe

  7. Slide 7: Change in Revenues and EBITDA by Region

    Change in Revenues 1-9/2011 vs. 1-9/2010 +2% 0% 1,555.2 +14% +16% 1,343.3 Revenues Volume Price FX Revenues 1-9/2010 Development Development 1-9/2011 Note: in € mn 13 Change in EBITDA by Region 1-9/2011 vs. 1-9/2010 +12.2 213.7 +21.2 -5.3 +9.9 +33% +15.2 160.5 EBITDA 1) Central-East Central-West Nor

  8. Slide 8: Strong Improvement of Financial Results

    Strong Improvement of Financial Results in € mn 1-9/2010 1-9/2011 Chg. in % Income from investments in associates 1.2 4.0 >100 Interest and similar income 11.2 8.5 -24 Interest and similar expenses -45.4 -36.8 +19 Other financial results -0.2 7.5 >100 Financial results -33.2 -16.8 +49 15 Stronger Gr

  9. Slide 9: Increase in Trade Receivables due to Higher Sales Volumes

    Increase in Trade Receivables due to Higher Sales Volumes Chg. in € mn 1-9/2010 1-9/2011 in % Increase/decrease in inventories 9.2 -9.7 <-100 Increase/decrease in trade receivables -65.6 -113.7 -73 Increase/decrease in trade payables 7.5 -13.0 <-100 Increase/decrease in other net current assets 30.7

  10. Slide 10: Total Investments of € 105 million

    Total Investments of € 105 million in € mn 1-9/2010 1-9/2011 Chg. in % Maintenance capex 30.2 61.5 >100 in % of depreciation 21% 41% - Growth investments 32.8 43.3 +32 Total investments 63.0 104.8 +66  Maintenance capex includes besides maintenance also investments for technological upgrades in the

  11. Slide 11: Capital Structure and Financing: Strong Balance Sheet

    Capital Structure and Financing 21 Strong Balance Sheet Chg. in % in € mn 31/12/2009 30/9/2010 31/12/2010 30/9/2011 vs. 2010 Equity 1) 2,547.0 2,545.6 2,525.7 2,467.0 -2 Net debt 408.0 389.9 374.5 510.9 +36 Equity ratio 62% 62% 62% 59% - Gearing 16% 15% 15% 21% - Covenant Covenants 30/9/2010 31/12/2

  12. Slide 12: Development of Net Debt and Liquidity and Term Structure

    Development of Net Debt – Q3 2011 in Detail 529.9 530.0 +20.1 510.9 +37.6 -76.8 374.5 in € mn 31/12/2010 31/3/2011 30/6/2011 Gross Total Working 30/9/2011 cash flow investments capital & others 23 Liquidity and Term Structure  Cash 30/9/2011: € 506 mn  Strong capital structure  Balanced term stru

  13. Slide 13: Share Buy-back

    Share Buy-back Conditions of share buy-back Start and duration from August 22 through November 22, 2011 Volume maximum of 2,350,535 shares in % of share capital 2% Purchase price from € 1.00 to € 26.20 Purpose:  Using shares as currency for transactions, if available and value creating 25 Regions a

  14. Slide 14: Central-East Europe

    Central-East Europe Results 1-9/2011 Share of Group Share of Group Central-East Europe (in € mn) 1) 1-9/2010 1-9/2011 Chg. in % revenues 1-9/2011 EBITDA 1-9/2011 Revenues 407.5 458.7 +13 Operating EBITDA 2) 67.4 82.6 +23 29% 39% Operating EBITDA margin 16.5% 18.0% - Operating EBIT 2) 19.5 28.2 +45 1

  15. Slide 15: Central-West Europe

    Central-West Europe Results 1-9/2011 Share of Group Share of Group Central-West Europe (in € mn) 1) 1-9/2010 1-9/2011 Chg. in % revenues 1-9/2011 EBITDA 1-9/2011 Revenues 291.5 335.3 +15 17% Operating EBITDA 2) 26.4 36.3 +38 22% Operating EBITDA margin 9.1% 10.8% - Operating EBIT 2) 1.8 14.1 >100 1)

  16. Slide 16: Investments & Other

    Investments & Other Results 1-9/2011 Share of Group Share of Group Investments & Other (in € mn) 1) 1-9/2010 1-9/2011 Chg. in % revenues 1-9/2011 EBITDA 1-9/2011 Revenues 9.0 85.2 >100 3% -3% Operating EBITDA 2) -19.7 -7.5 +62 Operating EBITDA margin <-100% -8.9% - Operating EBIT 2) -23.7 -16.3 +31

  17. Slide 17: Outlook 2011

    Outlook 2011 North America Western Europe Central-East Europe Market Market Market  No recovery expected  Slight weakening towards  Slight weakening in Poland year-end in Belgium, UK and and Czech Republic, but in Switzerland, but in total total volume growth in all countries  Volume growth in P

  18. Slide 18: Assumptions for 2012

    Assumptions for 2012  Limited visibility  Targets for 2012:  Cost inflation covered by price adjustments  Maintenance capex ~ 60 % of depreciation  Profit from further organic development of the company:  Product range  Cost management  Marketing and sales 35 Wienerberger Investor Relations

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