Revenue Essentially Flat for Wienerberger in 2018 First Quarter
Wienerberger reported a 2% increase in revenues to €675 million (approximately $816.2 million) and a 30% rise in adjusted EBITDA to €60 million (~ $72.6 million) in the first quarter of 2018.
The Wienerberger Group recently announced its financial results for the first quarter of 2018. The company reported a 2% increase in revenues to €675 million (approximately $816.2 million) and a 30% rise in adjusted EBITDA to €60 million (~ $72.6 million) in the first quarter of 2018. Due to restructuring costs, consolidated EBITDA came to €44 million (~ $53.2 million), slightly lower than in 2017.
“I am extremely satisfied with the good development in the first quarter,” said Heimo Scheuch, CEO. “The performance in all our business areas is highly satisfactory. We are continuing our growth and are well on track with the implementation of all strategic projects. I am therefore particularly pleased that the sale of our concrete paver business in Austria has been approved by the competition authority. This is a first major step in the announced optimization of our business portfolio. All in all, we are well positioned—also with our new bond—to actively drive growth in all our areas of business."
The sale of Wienerberger’s concrete paver business in Austria was approved by the competition authority on April 13, 2018. The transaction includes the Austrian business operations of the Semmelrock Group, consisting of four production sites and the administrative headquarters in Klagenfurt, as well as the takeover of the workforce. The closing is anticipated for the beginning of May 2018. The sale is reportedly a first major step in the optimization of the business portfolio. Wienerberger Group expects to generate up to €100 million (~ $120.9 million) through sales by the end of 2019.
For more information, visit www.wienerberger.com.