Wienerberger Puts Buyouts on Ice and Reviews Dividend as Full-Year Guidance Holds
Published on 11/14/2026 at 15:51 | Editorial boerse-global.de
Wienerberger has pressed pause on acquisitions and capped its capital spending, folding both decisions into a strategic review that the brickmaker says will lift recurring operating EBITDA by €140 million a year from 2029. The first benefits are expected to phase in gradually from 2027.
The Austrian group confirmed its guidance for full-year 2026 operating EBITDA of €640–650 million on Thursday, even as it reported a weaker operating result for the third quarter. The review spans the company's portfolio and its approach to capital allocation, and it also puts dividend policy under the microscope. No change to the payout has been resolved — Wienerberger said only that the existing policy is being examined.
Revenue up, profit down
Third-quarter 2026 revenue rose 8% to €1.3 billion from €1.2 billion a year earlier. The top-line gain did not carry through to earnings: operating EBITDA fell to €180 million from €202 million in the same period of 2025. Net profit after tax came in at €24 million, down sharply from €65 million a year before. Reuters reported on Thursday that the shares weakened following the results and the management announcements.
Should investors sell immediately? Or is it worth buying Wienerberger?
At the helm, the supervisory board appointed Gerhard Hanke as chief executive with immediate effect on Wednesday, placing the leadership change squarely in the middle of the strategic review.
Berenberg stays bullish
Berenberg reaffirmed its buy rating on Wienerberger yesterday and left its price target unchanged at €19.00, keeping both its recommendation and its target where they stood.
Investors have a busy calendar ahead. BNP Paribas Exane's 9th MidCap CEO Conference in Paris is scheduled for 17 November, followed by a Nordic roadshow with Danske Bank in Copenhagen on 23 November and the Austrian Day with RIB & Oddo BHF in Warsaw on 24 November. Wienerberger will publish its 2026 annual results on 17 February 2027, with the full details of the strategic review — and its outlook for 2027 — due on 4 March 2027.
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Wienerberger Stock: New Analysis - 14 November
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