Wienerberger delivered solid results in Q3 2025 despite market headwinds

In the first nine months of the year 2025, Wienerberger delivered a resilient performance in a persistently challenging market environment, according to a press release in November 2025. The company recorded revenues of €3.5 billion and operating EBITDA of €584 million, broadly in line with the prior-year period (€3.4 billion and €602 million respectively). A significantly weaker-than-expected market in the new residential housing segment in all geographies and inflationary cost pressure impacted the performance of the group. Third-quarter revenues at the group level reached €1.2 billion, with an operating EBITDA of €202 million.

Challenging market environment in Q3 2025

The third quarter of 2025 was marked by continued weakness in the European construction sector, particularly in new residential housing markets. Wnfrastructure investments, especially publicly funded ones within the EU, softened over the summer due to fiscal tightening. Outside the EU, however, infrastructure spending remained solid.

In the US and especially Canada, the new residential housing market declined by >10%. Contrary to expectations, the UK market also saw renewed weakness in Q3, with housing starts falling by 9% year-on-year.

Regional markets

Western Europe overall showed solid activity in roofing and renovation. The new residential housing market, with the exception of the Netherlands, remains at a lower level, although increased permits and housing starts in Germany and France indicate a recovery.

In the UK, inflationary pressure and delayed rate cuts continued to weigh on the construction sector. In contrast, Ireland remains stable, supported by continued public investment and the upcoming National Development Plan 2026-2030.

In Eastern Europe, renovation volumes stabilized, while infrastructure was most affected by reduced public funding due to budgetary constraints. The new residential housing market remained subdued, except Hungary, which boosted housing starts with public funding programs.

The new residential construction activity in North America, particularly in Canada, weakened further in Q3 due to rising interest rates, a slowing labor market, and persistent macroeconomic headwinds.

Outlook

Given the lower market activity, Wienerberger anticipates largely flat price development across its markets in 2025.

Due to the extreme market volatility observed over the past three months across all end markets the company has revised its outlook for the remainder of 2025 and expects its full-year operating EBITDA to be in line with the prior-year level.