Investor Presentaiton

Made public by

sourced by PitchSend

27 of 35

Creator

PitchSend logo
PitchSend

Category

Pending

Published

Unknown

Slides

Transcriptions

#1wienerberger RESULTS Q1 2022#2DISCLAIMER 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 correctness of this information or opinions contained herein. › Certain statements contained in this document may be statements of future expectations and other forward-looking statements that are based on management's current view and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. > None of Wienerberger AG or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its content or otherwise arising in connection with this document. > This document does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. wienerberger 2#3wienerberger INTRO RESULTS Q1 2022#4MARKET ENVIRONMENT Q1 2022 WE ARE FULLY AWARE OF THE CURRENT VOLATILE SITUATION, BUT WE ARE IDEALLY POSITIONED TO MASTER THESE CHALLENGES wienerberger ENVIRONMENT › Geopolitical instability > Increasing cost inflation › Volatile energy costs > Rising mortgage rates wienerberger › Sustained high demand - across all markets & product groups › Reinforced local business model › Pro-active pricing covers cost inflation › Availability of energy ensured through long- term forward buying strategy and working on alternative sustainable energy sources › Continuous availability of raw materials › Ongoing performance enhancement › Continued strong focus on innovation wienerberger remains geared for further growth Organic growth: GDP +2% ROCE target 2022: 12% 4#5Q1 2022 BEST FIRST QUARTER IN OUR HISTORY Revenue € 1,157 mn (Q1 2021: € 797 mn | +45%) EBITDA reported € 228 mn (Q1 2021: € 106 mn | >100%) Net result € 113 mn (Q1 2021: € 27 mn | >100%) EBITDA margin 19.7% (Q1 2021: 13.4% | +6.3pp) wienerberger#6Q1 2022 SUSTAINED HIGH DEMAND - ACROSS ALL MARKETS AND PRODUCT GROUPS New build Renovation Infrastructure wienerberger > Mild winter compared to Q1 2021 › Sustained high demand for one and two-family houses › Strong demand especially for roof, façade, piping solutions › Renovation gained momentum supported by EU Green Deal > Healthy demand across Europe & North America > Supported by significant stimuli packages Market share gains Increased renovation exposure New solutions & margin improvement 6#7PRODUCT PORTFOLIO CONTINUOUS TRANSFORMATION OF OUR PRODUCT PORTFOLIO WITH FOCUS ON INNOVATION & SYSTEM SOLUTIONS > Today, our portfolio ranges from roof and wall systems to façade solutions for the entire building envelope... > ...and includes complete solutions for safe and secure energy and water supply PORTFOLIO ENHANCEMENT: Newly introduced products & solutions since 2012 (in green): 1 Ceramic accessories 9 Concrete pavers 2 Roof tiles with snow hooks 10 Facing bricks 3 Roof underlay 11 Floor heating 4 Clay blocks 5 Electrical installations 6 Wall heating and cooling system 7 Ceiling cooling 8 Hot and cold-water installation 12 Clay pavers 13 Landscaping elements 14 Water filtration unit 15 Wastewater 16 Fresh water supply 17 Rainwater management 14 17 4 → 6 2 5 1 8 3 9 10 11 12 15 16 wienerberger 13 7#8PRODUCT PORTFOLIO FURTHER COMPLEMENTED BY SUSTAINABLE INNOVATIONS wienerberger CO₂ neutral bricks Solar roof tiles Flat roof solutions > First Wienerberger CO2-neutral brick production (Belgium) > We shape the future of the ceramics industry > 100% renewable through electrification › Solar cells combined with ceramic roof tile > Improves customers' CO2 footprint - while preserving aesthetic appeal of the roof › Launched in the Netherlands, later rolled out › Sales cooperation with Leadax for Europe > > Most sustainable flat roof membrane: -85% CO2 vs. comparable products Made of plastic waste, product recyclable 80#9SUSTAINABLE PRODUCTS + SUSTAINABLE COMPANY = wienerberger OUR CONTRIBUTION TO CLIMATE CHANGE wienerberger WE IMPROVE OUR CUSTOMERS' CO₂ FOOTPRINT... With our solutions we improve the thermal efficiency of the building envelope by: ....AND REDUCE OUR OWN CO₂ EMISSIONS By 2030, we reduce our own CO2 emissions by: 80% Our solutions are affordable, have a lifespan of > 100 years and shall be fully reuseable/recyclable Note: vs. reference year 1970 40% Committed to ambitious ESG targets 9#10UPDATE M&A AND PORTFOLIO OPTIMIZATION SIGNIFICANT GROWTH STEPS DONE IN 2021 Acquisition of Floplast & Cork Plastics Acquisition of Struxura Strong contributions to UK business Significant synergies -building envelope and water management solutions 90% exposure to renovation High demand for prefab solutions tackling the shortage of skilled labor quick and easy to install Acquisition of Meridian Brick Divestments 2022 Successful and fast integration Significantly enhanced market position Strong contributions to North American business Structured divestment process of French piping activities - after successful turnaround wienerberger 10#11UPDATE & HIGHLIGHTS ESG | ENVIRONMENT FULLY ON TRACK TO ACHIEVE OUR AMBITIOUS 2023 ESG TARGETS wienerberger Decarbonization Circular Economy Biodiversity 2023 target: -15% CO2) emissions vs. 2020 2021 achievement: -8.1% 2023 target: 100% of new products reuseable or recylable 2021 achievement: criteria established, rollout started 2023 target: Biodiversity program for all sites in place 2021 achievement: program finalized, rollout started Group-wide decarbonization efforts Urban mining for fully circularity brick Biodiversity plan implemented › Decarbonization of raw material recipes › Dematerialization › Green electricity > Positive effects from ESG investments > Purchasing biogas in Denmark › Raw material from demolished buildings > Used for CicloBrick, a facing brick produced in the Netherlands > Comprehensive catalogue developed with external experts > Basis for site-specific biodiversity action plans BIO-LIN DIVERSITY ACTION PLAN 1) "Carbon dioxide equivalents" or "CO2e" is a term used to describe the global warming potential (GWP) of various greenhouse gases in a single unit Note: All goals are set vs. the reference year 2020 // CO2e emissions refer to Scope 1 & 2, Scope 3 emissions are yet to be reported wienerberger#12DECARBONIZATION ENERGY DEMAND & SUPPLY: WIENERBERGER ENERGY POLICY EMBEDDED IN ESG STRATEGY CLEAR GOALS: LESS ENERGY DEMAND, LESS CO₂ CONSUMPTION, GREATEST POSSIBLE AVAILABILITY FORWARD-LOOKING ENERGY MANAGEMENT wienerberger ESG Strategy wienerberger Energy Policy ESG CAPEX for new technologies aimed at decarbonization -40% CO2 reduction until 2030 Operational Excellence Process enhancements Significant reduction of energy consumption wienerberger 12#13DECARBONIZATION ENERGY DEMAND & SUPPLY: WE ARE STRATEGICALLY FLEXIBLE IN CHOOSING OUR ENERGY SOURCE wienerberger ACTIVE INVESTIGATION OF ALTERNATIVES > No uniform European energy strategy › Country-by-country approach › Based on availability, affordability and infrastructure We are actively working on the introduction of alternatives, such as: ①Electrification 2 Hydrogen ③ Biogas 4 Syngas We shape the future of our industry PRACTICAL EXAMPLE - Fully electrified brick production: First CO2 neutral brick production in Belgium 13#14wienerberger FINANCIALS#15Q1 2022 RECORD RESULTS IN Q1 Record results based on consistently high demand in all business units despite volatile supply markets and high uncertainty A proactive margin management, a forward-looking procurement policy, and ongoing efficiency enhancement measures led to profit growth, despite a volatile market environment Ongoing integration process of Meridian Brick in North America and FloPlast/Cork plastics in the UK and Ireland contributing already noticeably to earnings 1) Adjusted for effects from sale of core and non-core assets as well as structural adjustments wienerberger External revenues (in € mn) Q1 2022 Q1 2021 Chg. in % Wienerberger Building Solutions 617.7 478.5 +29 Wienerberger Piping Solutions 331.1 240.7 +38 North America 207.5 76.5 >100 Wienerberger Group 1,156.3 795.7 +45 Operating EBITDA 1) (in € mn) Wienerberger Building Solutions Wienerberger Piping Solutions Q1 2022 Q1 2021 Chg. in % 145.6 75.7 +92 36.5 20.8 +75 North America 43.3 8.5 >100 Wienerberger Group 225.5 105.0 >100 15#16Q1 2022 | WIENERBERGER BUILDING SOLUTIONS STRONG DEMAND FOR INNOVATIVE PRODUCT SOLUTIONS IN NEW BUILD AND RENOVATION wienerberger Wienerberger › System solutions for the entire building envelope Building Solutions › Clay blocks & facing bricks, roof tiles, concrete pavers > 23 countries in € mn Q1 2022 Q1 2021 Chg. in % External revenue 617.7 478.5 +29 Operating EBITDA 145.6 75.7 +92 Operating EBITDA Margin 23.6% 15.8% EBITDA 148.4 78.0 +90 › Continued positive market sentiment and strong demand for innovative and sustainable product solutions in both new build and renovation › Price increases outperformed cost inflation › Increase in profitability by optimizing our product mix and broadening our range of system solutions and services › Strong earnings contribution due to high capacity utilization#17Q1 2022 | WIENERBERGER PIPING SOLUTIONS STRONG PERFORMANCE DESPITE CONTINUED HIGHLY DYNAMIC DEVELOPMENT FOR INPUT COSTS Wienerberger Piping Solutions > Piping solutions for buildings and infrastructure > Pipelife plastic pipes & Steinzeug-Keramo ceramic pipes › 25 European countries in € mn Q1 2022 Q1 2021 Chg. in % External revenue 331.1 240.7 +38 Operating EBITDA 36.5 20.8 +75 Operating EBITDA Margin 11.0% 8.7% EBITDA 36.3 21.2 +71 wienerberger › Stable demand for Inhouse and infrastructure solutions in almost all regions, especially in CEE › Succeeded in covering cost inflation through a forward- looking pricing policy while maintaining our position as a reliable partner for our costumers > Increase in profitability by consistently added system solutions and services to our product mix O#18Q1 2022 | NORTH AMERICA GOOD MARKET ENVIRONMENT AND STRONG CONTRIBUTIONS FROM ACQUISITION OF MERIDIAN BRICK wienerberger › Innovative products and system solutions North America › Facing bricks, concrete & calcium silicate products, plastic pipes › Located in Canada and U.S. in € mn Q1 2022 Q1 2021 Chg. in % External revenue 207.5 76.5 >100 Operating EBITDA 43.3 8.5 >100 Operating EBITDA Margin 20.9% 11.1% EBITDA 43.6 7.2 >100 › Positive market environment in Canada and USA with overall strong demand levels › Integration of Meridian Brick progressing faster than expected, with strong synergy effects already recorded on the cost and sales side › Exceptional earnings contribution in the U.S. plastic pipe business continued#19REVENUE DEVELOPMENT Q1 2022 STRONG ORGANIC GROWTH OF +30%, TOTAL REVENUES UP +45% in € mn 121 797 +30% organic 1,157 3 235 Revenues Q1 2021 Scope Organic FX Revenues Q1 2022 +45% Note: Rounding differences may arise from automatic processing of data 19#20EBITDA DEVELOPMENT Q1 2022 STRONG ORGANIC GROWTH OF +98%, TOTAL EBITDA UP +115% in € mn 105 16 +98% organic 225 2 103 Operating Scope Organic 1) FX EBITDA Q1 2021 Operating EBITDA Q1 2022 +115% Note: Rounding differences may arise from automatic processing of data 1) Including self help initiatives of € 13 mn 20 20#21EBITDA DEVELOPMENT Q1 2022 ORGANIC EBITDA DOUBLING AND FURTHER GROWTH OUT OF M&A wienerberger in € mn EBITDA DEVELOPMENT Reported +115% 106 228 Operating +115% EBITDA adjustments Q1 2022 Q1 2021 in € mn EBITDA reported 228.3 106.4 Sale of assets¹) -3.0 -3.1 Structural adjustments²) 0.2 1.7 226 Operating EBITDA 225.5 105.0 105 EBITDA reported in Q1 2022 includes > € 15.7 mn from consolidation Q1 2021 Q1 2022 Q1 2021 Q1 2022 > € 2.2 mn from FX Note: Rounding differences may arise from automatic processing of data 1) Sale of non-core assets 2) Costs related to repositioning and restructuring of selected businesses 21 21#22GROWTH BY SELF HELP ALREADY € 13 MN DELIVERED IN Q1... AND € 45 MN EXPECTED FOR FY 2022 in € mn EBITDA CONTRIBUTION 13 EXPECTED PROGRAM CONTRIBUTION IN 2022 ~40% Innovation & organic growth Impact on revenues and cost of sales ~35% Manufacturing excellence 32 Impact on cost of sales 32 45 ~20% Procurement Impact on cost of sales and overhead costs Q1 2022 Q2-Q4 2022 Target 2022 Fully on track to deliver € 45 mn in 2022 SCM & General administration ~5% Impact on cost of sales and overhead costs > More than 1,400 initiatives well on track 22 22#23ENERGY FORWARD BUYING POLICY WE HAVE MANAGED TO KEEP ENERGY COSTS WELL UNDER CONTROL AND REMAINED A RELIABLE & PREDICTABLE PARTNER TO OUR CUSTOMERS wienerberger WIENERBERGER ENERGY STRATEGY Our policy is to buy gas and electricity volumes forward based on our production planning on a continuous basis to i. ensure volumes, ii. protect against price increases, and iii. ensure predictable pricing to our customers. ENERGY OUTLOOK FOR THE COMING YEARS: Energy volumes ensured for 2022-2024 (as of 31 March 2022) Gas Electricity 90% 92% 81% 69% 2022 2023 2024 2022 64% 50% 2023 2024 Note: In Bulgaria, Romania and Serbia energy buying forward is not possible due to government regulations. 23#24INCOME STATEMENT OUTSTANDING PERFORMANCE IN OPERATING BUSINESS LED TO AN EXCELLENT PROFIT GROWTH wienerberger in € mn Revenues Operating EBITDA EBITDA Operating EBIT Impairment charges to assets EBIT Financial result Profit before tax Q1 2022 Q1 2021 Chg. in % 1,156.6 796.5 +45 225.5 105.0 >100 228.3 106.4 >100 160.3 48.8 >100 -13.2 0.0 <-100 147.1 48.8 >100 -11.7 -9.1 -29 135.3 39.7 >100 Income taxes -22.6 -11.4 -98 Profit/loss after tax 112.7 28.3 >100 thereof hybrid coupon and non-controlling interests 0.1 1.1 -95 Net result 112.7 27.3 >100 Note: Rounding differences may arise from automatic processing of data 24 24#25CASH FLOW STATEMENT STRONG OPERATING PERFORMANCE WITH GOOD CASH GENERATION DESPITE SEASONAL BUILD-UP OF WORKING CAPITAL wienerberger in € mn Gross cash flow Change in working capital Maintenance Capex Divestments and other Lease payments Q1 2022 Q1 2021 Chg. in € mn 209.1 84.3 124.8 -255.5 -203.6 -52.0 Chg. in % >100 -26 -21.4 -21.6 0.2 +1 -21.2 14.7 -35.9 <-100 -15.0 -12.1 -3.0 -25 Free cash flow -104.1 -138.2 34.1 +25 Special Capex -18.4 -12.2 -6.2 -51 M&A -1.2 -2.2 0.9 +43 Purchase of treasury shares -29.0 0.0 -29.0 <-100 Hybrid coupon & buyback 0.0 -225.4 225.4 >100 Net cash flow -152.7 -378.0 225.2 +60 Note: Rounding differences may arise from automatic processing of data 25 25#26FINANCIAL HIGHLIGHTS Q1 2022 RECORD FIRST QUARTER IN THE HISTORY OF WIENERBERGER - STRONG VALUE CREATION FOR SHAREHOLDERS wienerberger Organic growth Very strong 30% organic growth in Q1 2022 Share buyback program extended up to ~5.6% of share capital corresponds to a maximum purchase price of € 180 mn Significant earnings contributions in Q1 2022 Self help: € 13 mn M&A: € 16 mn € 0.75 dividend per share adopted by 153rd AGM Dividend increased by 25% compared to the previous year Strong cash generation High cash conversion rate of 90% in Q1 2022 Updated ROCE target ROCE of 12% to be achieved in 2022 EBITDA reported Q1 2022 € 228 mn (Q1 2021: € 106 mn | >100%) 26#27wienerberger OUTLOOK#28MARKET EXPECTATIONS Q2 2022 GOOD MARKET ENVIRONMENT IN Q2 2022 - LIMITED VISIBILITY FOR H2 2022 wienerberger Market growth (>2%) Stable development Market decline (<2%) NEW BUILD RENOVATION 1) INFRASTRUCTURE WESTERN EUROPE CENTRAL & EASTERN EUROPE NORDICS NORTH AMERICA 1) Potential growth limited by availability of skilled labor ↑ ㅈ ↑ ↑↑ لا ↑ 71 28#29COST INFLATION 2022 INCREASING COST INFLATION EXPECTED TO CONTINUE AND TO REACH UP TO 10% OVER THE WHOLE GROUP FOR FY 2022 wienerberger Plastics Raw Materials Personnel Energy › Price inflation continued › Availability improved following the completion of most of the maintenance period in Europe › Energy surcharges started to be pushed by the suppliers coupled with logistics increases › Inflation from Ukraine conflict not yet fully seen in Q1 > Lack of skilled labor and sharp increase of general cost inflation put pressure on wages > Attracting and retaining right employees as major challenge › High volatility still remains in spot and future year pricing › Energy buying forward strategy significantly softens down cost development 29 29#30OUTLOOK 2022 WIENERBERGER EBITDA TARGET 2022 CONFIRMED: € 750-770 MN Assumptions for guidance confirmation Guidance for the year 2022 › Operating in a good market environment › Expectation of further increase in demand in Q2 2022 › No significant gas shortage expected in Europe in Q2 2022 > › Pro-active pricing policy to fully cover cost inflation > Further € 45 mn EBITDA contributions from Self help program › Current geopolitical instability - with all its impacts on global economy - considerably limits visibility for H2 2022 > We maintain our guidance for the full year 2022 REVENUE GDP +2% OPERATING EBITDA € 750-770 mn ROCE 12% Note: Operating EBITDA does not include effects of FX, sales of non-operating and operating assets, and structural adjustments; consolidation range as of 31 Dec. 2021 30 30 wienerberger#31WIENERBERGER 2030 RENOVATION & INFRASTRUCTURE AS THE FUTURE DRIVERS OF GROWTH FOR WIENERBERGER Renovation Water & Energy Management wienerberger We are ideally positioned to capitalize on growth opportunities > We offer the ideal products: innovative & sustainable system solutions › Our products are affordable and have a lifespan of more than 100 years > We have smart solutions in place for water - one of our most prestigious resources Supported by significant stimuli packages in Europe & North America We consistently rely on: > Innovation & sustainability › Affordability > Durability 31#32WIENERBERGER 2030 OUR PROGRAM TOWARDS 2030... > Innovative products: 1/3 of total revenues Growth & ESG › System solutions: > 1/4 of total revenues Investments in the industrial base › Self-help program: > from 2018-2023 € 245mn earnings contribution Decarbonization: -40% CO2 emissions until 2030 M&A Maintenance CAPEX › Strong M&A pipeline in-line with strategic priorities > Enhancing exposure to growing & resilient market segments > Commitment to continuously invest in maintaining and improving the productivity of our industrial base > Growing our solution competence for the building envelope & smart infrastructure > wienerberger Dividends Dividend policy to pay out 20-40% of free cash flow of the previous business year › Capex guided annually > Payback ~4y › Targeted long-term average organic growth: GDP +2% › Post synergies multiple 05x › Capex guided annually › Dividend decided annually 32#33WIENERBERGER 2030 ...WILL RESULT IN AN EVEN STRONGER AND MORE RESILIENT WIENERBERGER Infrastructure 22% Renovation 29% 2021 New Build Residential 49% Infrastructure 25% Renovation 35% Strengthened market exposure to renovation 2030 New Build Residential 40% wienerberger 33

Download to PowerPoint

Download presentation as an editable powerpoint.

Related

Q4 & FY22 - Investor Presentation image

Q4 & FY22 - Investor Presentation

Financial Services

FY23 Results - Investor Presentation image

FY23 Results - Investor Presentation

Financial Services

Ferocious - Plant Growth Optimizer image

Ferocious - Plant Growth Optimizer

Agriculture

Market Outlook and Operational Insights image

Market Outlook and Operational Insights

Metals and Mining

2023 Investor Presentation image

2023 Investor Presentation

Financial

Leveraging EdTech Across 3 Verticals image

Leveraging EdTech Across 3 Verticals

Technology

Axis 2.0 Digital Banking image

Axis 2.0 Digital Banking

Sustainability & Digital Solutions

Capital One’s acquisition of Discover image

Capital One’s acquisition of Discover

Mergers and Acquisitions