Wienerberger Insiders Back the Stock as Interim CEO Takes the Helm
Published on 08/25/2026 at 02:44 | Redaktion boerse-global.de
Two members of Wienerberger's leadership have put their own money on the line within days of each other, buying shares at a moment when the Austrian brickmaker's stock is trading perilously close to its 12-month low.
Interim chief executive Gerhard Hanke acquired 10,000 shares on 13 August at €21.00 apiece, a mandatory disclosure shows. A week later, on 20 August, supervisory board member Peter Steiner followed suit with a 2,000-share purchase at €19.24. Both transactions were filed as directors' dealings.
The timing is conspicuous. Hanke's purchase came just three days after Heimo Scheuch stepped down as CEO on 10 August, citing health reasons, with the former COO Central & East and deputy chairman thrust into the top job on an interim basis. For the new boss and a board member to load up on equity almost simultaneously reads as a statement of conviction in the current valuation — even if insider buying is no guarantee of a share-price recovery.
Mixed Operating Picture
The purchases land in a period of uneven financial performance. Wienerberger grew second-quarter revenue by 13 percent to €1.4 billion, yet operating EBITDA fell to €230 million. First-half sales reached €2.43 billion, but the group cautioned that pressure on profitability persists.
Should investors sell immediately? Or is it worth buying Wienerberger?
Management points to weak residential construction activity, particularly in North America and the United Kingdom, compounded by rising cost inflation. Revenue growth has not been purely organic either, with acquisitions lending a hand — the company has been leaning into infrastructure and renovation, which now account for more than 60 percent of sales.
Despite the softer earnings trend, Wienerberger reaffirmed its full-year EBITDA guidance of €700 million. For investors, that confirmation was arguably the most important signal of all: the leadership is holding its targets even as new-build demand falters.
Shares Near the Floor
The market has already punished the stock for the operational strain. Wienerberger is down 36 percent since the start of the year, and at a closing price of €19.49 the shares sit just 2.6 percent above their 52-week low of €19.00. The distance to the August 2025 high of €32.48 is roughly 40 percent.
Against that backdrop, Hanke's €21.00 entry price looks like a bet that the bottom is close. The stock has since stabilised somewhat, trading at €19.47 on Monday with a 0.9 percent gain on the day.
Analysts, however, remain cautious. Oddo BHF trimmed its price target on 17 August while keeping a "Neutral" rating — no sell signal, but no enthusiasm either.
For shareholders, the picture is a delicate balance. On one side sit the confirmed guidance and the leadership's demonstrative vote of confidence through share purchases. On the other, the weak construction cycle in key markets and the unresolved question of a permanent CEO successor continue to weigh on sentiment.
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