EANS-News: Wienerberger AG reports a strong start to 2020 despite COVID-19 pandemic
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
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Financial Figures/Balance Sheet
Vienna - April 21, 2020.
- Q1 2020 Group revenues up 2% year-on-year to EUR 792 million
- Q1 2020 EBITDA of EUR 106 million, broadly in line with Q1 2019
- Strong balance sheet and enhanced liquidity position to cope with COVID-19
- Virtual Annual General Meeting scheduled for May 5, 2020
Strong First Quarter Results
The Wienerberger Group has delivered strong first quarter results,
notwithstanding the initial impact of the COVID-19 pandemic. Revenues at Group
level grew by 2% to EUR 792 million (Q1 2019: EUR 777 million), despite lower
volumes. Given the Group's very strong operational performance, Wienerberger
delivered EBITDA of EUR 106 million in the first quarter of 2020, almost
matching the previous year's record result of EUR 110 million, notwithstanding
the requirement for shutdowns of selected plants and capacity adjustments as a
result of COVID-19.
"This highly satisfactory result confirms that, thanks to the optimization
measures taken in previous quarters, we are very well positioned even in
difficult times", says CEO Heimo Scheuch, commenting on the Group's performance.
"Today, we have the capabilities and the infrastructure needed to cope with
COVID-19. We have smart, digital solutions in place and are able to react
swiftly and flexibly to a changing environment. Our balance sheet and liquidity
position remain robust, enabling us to take decisive action from a position of
strength."
Enhanced Liquidity Position
Wienerberger has put in place a comprehensive program of measures to manage the
impact of the COVID-19 pandemic, with particular focus on cash generation, cost
optimization, flexible capacity adjustments and the postponement of non-
essential investments.
In the context of this framework, Wienerberger has taken prompt action to
further strengthen its financial position. The Group's liquidity has been
increased through bank loans in the amount of EUR 380 million. Wienerberger's
EUR 300 million 4% bond was redeemed in line with its scheduled maturity on
April 17, 2020. The net effect has been to strengthen further Wienerberger's
liquidity position. The Group has over EUR 450 million of immediately available
liquidity after redemption of the bond.
Wienerberger expects the second quarter of 2020 to be the period most severely
affected by the COVID-19 pandemic, with almost all countries in lockdown. Given
the persistent lack of visibility, the impact on Wienerberger's financial
results for the year 2020 cannot be quantified with precision at this stage,
whilst the timing and profile of recovery from the pandemic remains uncertain.
The full year outturn will depend on how quickly governments proceed to ease the
current restrictions and thus permit a step-by-step return to normality.
AGM and Dividend Proposal
Wienerberger has decided to conduct this year's Annual General Meeting on May 5,
2020, as a virtual AGM. This will make it possible for all shareholders to
participate in the Annual General Meeting and exercise their rights. As already
communicated, Wienerberger intends to propose a dividend of EUR 0.60 per share
for the record year 2019, to be paid out in October 2020. "Wienerberger pursues
a balanced dividend policy with a long-term orientation", says Heimo Scheuch.
This policy provides for 20-40% of the free cash flow to be distributed to the
shareholders through dividends and share buyback transactions. "In 2019, we
delivered the best result ever in the 200-year history of our company, and we
want our owners to participate in this success", explains Heimo Scheuch. In the
wake of the COVID-19 pandemic, the possibility of prohibiting the distribution
of dividends by companies is being discussed. The resolution on the dividend and
its payout is therefore subject to the reservation of dividend distribution
being permitted by law at the time of adoption of the resolution and at the time
of payout.
All the financial indicators mentioned in this press release are preliminary,
non-audited figures. The complete results of the first quarter of 2020 will be
published on May 14, 2020, at 7:30 a.m. (CEST).
Wienerberger Group
The Wienerberger Group is a leading international provider of smart solutions
for the entire building envelope and for infrastructure. Wienerberger is the
world's largest producer of bricks (Porotherm, Terca) and the market leader in
clay roof tiles (Koramic, Tondach) in Europe as well as concrete pavers
(Semmelrock) in Central and Eastern Europe. In pipe systems (Steinzeug-Keramo
ceramic pipes and Pipelife plastic pipes), the company is one of the leading
suppliers in Europe. With its total of 201 production sites, the Wienerberger
Group generated revenues of EUR 3.5 billion and EBITDA LFL of EUR 587 million in
2019.
Wienerberger AG is a pure free float company, whereby the majority of shares are
held by Austrian and international institutional investors. Additional
information on the shareholder structure is provided under https://
wienerberger.com/en/investors/share [https://wienerberger.com/en/investors/
share]
Further inquiry note:
Claudia Hajdinyak, Head of Corporate Communications, Wienerberger AG
t +43 664 828 31 83 | claudia.hajdinyak@wienerberger.com
Anna Maria Grausgruber, Head of Investor Relations, Wienerberger AG
t +43 1 601 92 - 10221 | investor@wienerberger.com
end of announcement euro adhoc
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issuer: Wienerberger AG
Wienerbergerplatz 1
A-1100 Wien
phone: +43 1 60 192-0
FAX: +43 1 60 192-10159
mail: office@wienerberger.com
WWW: www.wienerberger.com
ISIN: AT0000831706
indexes: ATX
stockmarkets: Wien
language: English