Wienerberger Completes Serbian Brick Deal as Housing Slump Forces Guidance Cut
Published on 10/07/2026 at 04:31 | Editorial boerse-global.de
Wienerberger has closed its acquisition of Serbian building materials producer Univerzum Export-Import, wrapping up a transaction first flagged in May and formally completed on October 1, with integration work now under way. The Aran?elovac-based target runs a brick plant in In?ija among its operations and employs roughly 200 people across two sites, with the group projecting annual revenue of about EUR 20 million from the brick block producer in full-year 2026.
The bolt-on strengthens Wienerberger's foothold in Southeastern Europe at an awkward moment. Demand across several of its traditional heartlands remains subdued, with residential construction in particular showing little appetite from private and commercial developers — a drag that has fed straight through to building materials volumes.
Guidance trimmed as September rebound disappoints
Management responded by revising its full-year outlook, now targeting operating EBITDA of EUR 640 million to EUR 650 million for 2026, down from a previously higher estimate. The revision reflects a weaker-than-hoped seasonal pickup after the summer construction break in September, alongside persistent weakness in new residential building in the UK, the US and Canada.
For the third quarter, Wienerberger expects revenue of roughly EUR 1.3 billion and operating EBITDA of EUR 170 million to EUR 180 million. The company's own guidance range for Q3 revenue spans EUR 1.2 billion to EUR 1.3 billion at the lower end.
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Cost inflation is compounding the pressure. Since late August, outlays for energy, raw materials and logistics have climbed noticeably, squeezing operating margins further and weighing on earnings power.
Cost cuts and portfolio review in motion
To counter the margin erosion, Wienerberger has launched a strategic review of its business areas and pledged accelerated cost-reduction measures, aiming to align its segment setup with changed market conditions. A detailed update on the measures and the nine-month results are scheduled for November 12, 2026.
The current difficulties sit within a broader period of upheaval for the company. Roughly three weeks ago, Wienerberger announced the closure of a brick production line. Leadership has also shifted: the chief executive stepped down more than a month ago, and the head of investor relations was replaced about three weeks back. On the shareholder side, asset manager BlackRock trimmed its stake in Wienerberger around a week ago.
Sector-wide headwinds
The softness extends well beyond Wienerberger. ING Research calculates that total construction output across the European Union will grow just 0.5 percent this year. The pressure was visible on the Vienna Stock Exchange, where Wienerberger shares fell 3.9 percent yesterday to close at EUR 16.14, following a 4.1 percent drop to EUR 16.11 in today's session.
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