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Wienerberger is feeling the effects of a weak construction economy: Sales and profits are declining

Wienerberger is feeling the effects of a weak construction economy: Sales and profits are declining

EBITDA (earnings before interest, taxes, depreciation and amortization) amounted to €655.0 million, adjusted for income from the sale of properties not required for operations of €4.4 million and structural adjustments of €14.5 million, i.e. 22 percent lower than the previous reading. Year value.

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Operating result before interest and tax (EBIT) amounted to €443.0 million (-28 percent). The financial result deteriorated by €25.9 million from -€24.2 million in the same period last year to -€50.1 million in the nine-month period due to higher financing costs and valuation effects. Earnings per share (EPS) are €2.96 (1-9/2022: €4.38).

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Wienerberger is developing much better end markets in the current year, so the guidance for 2023 operating EBITDA of 800-820 million euros can be confirmed, CEO Heimo Scheuch said according to the broadcast. In the new construction sector, demand continued to decline in the third quarter due to unaffordability due to high interest and inflation levels in previous quarters. Wienerberger also recorded a slight decline in the renovation sector.

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