Wienerberger (WIE) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenues rose 13% year-over-year to €1.4 billion, driven by 7% organic growth and 6% from acquisitions, despite challenging residential markets and cost inflation.

• Strategic transformation accelerated, with infrastructure and renovation now over 60% of group revenues, reducing cyclicality.

• Major acquisitions included Italcer (ceramic tiles/surfaces) and NEWS Group (water/wastewater solutions), completed in Q2 2026, strengthening focus on renovation and water management.

• CEO Heimo Scheuch stepped down for health reasons; Gerhard Hanke appointed interim CEO, with the rest of the management board unchanged.

• Net profit after tax was €0 million (down from €106 million), with EPS at €0.01.

Financial highlights

• Q2 2026 revenues: €1,409 million (+13% YoY); operating EBITDA: €230 million (-9% YoY).

• H1 2026 revenues: €2,434 million (+4% YoY); operating EBITDA: €326 million (-15% YoY); EBIT: €60 million (-70% YoY).

• Gross margin for H1 2026 was 34.5%, down from 36.2% in H1 2025.

• Free cash flow was negative at €-203 million, mainly due to higher working capital and acquisition spending.

• Dividend payments totaled €104 million.

Outlook and guidance

• Full-year 2026 operating EBITDA guidance set at €700 million, reflecting continued weakness in residential new-build markets.

• Infrastructure and renovation markets expected to remain resilient, supporting long-term value creation.

• Net debt/EBITDA expected at 2.8x by year-end, with a mid-term target of 2.0x and a goal to reduce to 2.4x by end of 2027.

• H2 expected to benefit from price increases and higher cost savings from the Fit for Growth program.

• No significant improvement expected in residential housing markets in U.K., U.S., and Canada for H2.