Wienerberger Cuts 2026 Outlook as Housing Slump and Cost Inflation Bite
Published on 10/07/2026 at 18:42 | Editorial boerse-global.de
Shares in Wienerberger came under heavy selling pressure midweek after the Austrian building materials group trimmed its full-year guidance, sending the stock down 4.2% to EUR 15.47. The revision reflects both softer-than-expected construction activity and persistent cost headwinds across several of the company's core markets.
Guidance Lowered on Weak September
Management adjusted its targets for the 2026 financial year on Tuesday, now projecting operating EBITDA of between EUR 640mn and EUR 650mn. The company pointed to a September construction season whose seasonal recovery proved weaker than previously assumed. The downgrade follows an earlier cut in July, when the target was already reduced to roughly EUR 700mn, according to APA.
Compounding the pressure, residential construction continues to face sustained headwinds in the UK, the US and Canada. At the same time, sharply higher outlays for raw materials, energy and transport weighed on margins throughout the business.
Third-Quarter Figures Under Strain
The difficult environment is also visible in the numbers for the summer quarter. Wienerberger expects third-quarter revenue of approximately EUR 1.2bn to EUR 1.3bn, with operating EBITDA for the same three-month period forecast at around EUR 170mn to EUR 180mn. The steep cost increases could not be fully absorbed during this window.
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Although the group rolled out additional sales initiatives, raised selling prices and implemented internal efficiency measures, these steps in their entirety were not enough to offset the burden.
Strategic Review Takes Centre Stage
Against this background, the company's broader structural adjustments are gaining importance. The strategic review already underway, alongside cost-cutting measures, is now drawing sharper investor attention, as Wienerberger must align its cost base more swiftly with the persistently challenging market environment. The aim is to shore up profitability against adverse trading conditions, with management seeking to lift efficiency across the group and respond more flexibly to market swings.
Sentiment on the stock remains subdued amid the ongoing weakness of international construction markets. Since the start of the year, the share has lost 47%, closing at EUR 16.14 on Tuesday — a decline that underscores scepticism about a rapid recovery.
November Update in Focus
Detailed insight into operating performance and the repositioning is due next month. Wienerberger has announced it will publish its report for the first nine months of 2026 on 12 November. At that time, the company also intends to present a concrete update on the strategic review and the accelerated cost-reduction programme, giving market participants a look at the planned overhaul of the group.
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