Wienerberger AG : A very good Q1 2023 despite depressed volumes
>Q1 EBITDA > 16% above the consensus - Wienerberger reported Q1 2023 sales of € 1,052m and underlying EBITDA of € 209m (€ 206m reported). Q1 EBITDA beat consensus forecasts and ODDO BHF estimates at € 180m. In Q1, activity was down 28% in new construction, 11% in renovation and 20% in infrastructure according to the company. The margin deteriorated due to base effects by -29bp in Q1 after -24bp in Q4, +265bp in Q3 and +415bp in Q2. The contribution from self-help was...Wienerberger is a building materials group. Co.'s segments include: Clay Building Materials Eastern Europe, Clay Building Materials Western Europe, Pipes & Pavers Eastern Europe, Pipes & Pavers Western Europe, North America and Holding & Others. The Clay Building Materials Europe division covers activities in the areas of clay blocks, facing bricks and roof tiles. The Pipes & Pavers Europe division includes Co.'s business activities with plastic pipes, ceramic pipes and concrete pavers. The North America division covers activities in the areas of facing bricks, plastic pipes and concrete products. The Holding & Others division covers activities in the areas of clay blocks.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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