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  • 2023
  • Annual Report 2023

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  • Annual Report 2022

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CEO Letter

Dear Shareholders,

in an extremely volatile and challenging economic environment marked by high interest rates and high inflation, we are looking back on the 2023 business year in a positive light. With total revenues of €4,224 million and operating EBITDA of €811 million generated in 2023, wienerberger not only outperformed its end markets, but also met the expectations placed in the company.

This very satisfactory result was achieved, above all, through the strong performance of wienerberger’s business in pipes for energy and water management and in renovation, whereas the new-build segment trended downward, especially in Europe. North America proved to be more resilient and delivered a solid contribution to earnings.

Responding rapidly to these developments, we adapted our entire cost management process, which proved to be a major factor of our success. Moreover, our time-tested program aimed at earnings growth and efficiency enhancement contributed a substantial €46 million to the result. At the same time, technological optimization led to a decrease in energy consumption and, alongside cost savings, a sustainable reduction of CO2 emissions. At wienerberger, we have learned how to swiftly reposition ourselves, step up the pace of innovation, and optimize costs. The sound results of the 2023 business year once again demonstrate the resilience of wienerberger’s sustainable and diversified business model.

Sustainability has always been an integral part of wienerberger’s corporate strategy and a strategic and operational priority of our corporate development. By proactively addressing the challenges of climate change and its consequences, wienerberger becomes part of the solution. Having met our targets for 2023, we have set even more ambitious ones for 2026: The new three-year Sustainability Program focuses on a broader range of environmental and social topics, with wienerberger’s sustainability targets providing a basis for organic growth. This applies to both internal processes and the design of products for enhanced energy efficiency and climate resilience that benefit society as a whole.

The takeover of Terreal, the largest corporate acquisition in the entire history of our company, was successfully closed at the end of February 2024. Terreal is a successful European provider for the renovation and repair of roofs in France, Italy, Spain, and the US, including Creaton in Germany.

This acquisition strengthens our position as a leading European expert in innovative roofing and solar solutions for pitched roofs and broadens the range of our activities in the fast-growing renovation and repair market.

Thanks to our strong local business model, our proactive price and margin management, as well as our strategic focus on renovation and on infrastructure for water and energy management, I am convinced that we are perfectly positioned to maintain our high level of profitability throughout 2024.

Heimo Scheuch
Chairman of the Managing Board of Wienerberger AG