Impressive H1 earnings growth should increase confidence that growth ambitions can be achieved

  • Sectors : Building products
  • Companies : Wienerberger

Ratings and price correct at time of issue.

  • Wienerberger

    Closing Price: 1990c

  • RATING 09/05/18

  • PREVIOUS RATING 09/01/17



Wienerberger remains on track to significantly increase underlying profits in 2019. The lower end of the full year EBITDA guidance range has been increased, a good achievement in the current environment. The gains from the Fast Forward 2020 programme are coming through, thus providing a considerable spur to earnings. This has given Wienerberger a momentum many of its peers are finding elusive. Despite this, the stock has spent much of the past year trapped at €19-22, leaving it at an undemanding multiple of under 6x EBITDA. We reiterate our ‘Outperform’ rating.

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Aug 13 2019, 07:50 IST/BST