Wienerberger Group closed the first quarter of 2020 with revenues up by 2% to € 793 million in the first quarter.
The strong performance contrasted with the initial negative effects of the Covid-19 crisis.
Owing to the Covid-19 pandemic, the targets for individual markets had to be adjusted accordingly, which resulted in impairment charges of roughly € 116 million in the first quarter of 2020.
The majority of this impairment (€ 94 million) is attributable to the full write-off of goodwill in North America.
In addition, impairment losses were recognized for the same reason on various tangible assets across selected European markets (€ 22 million).
EBITDA LFL came to € 105 million and almost matched the previous year’s record level (€ 109 million).
Revenues for Wienerberger Building Solutions increased by 5% to € 500 million (2019: € 477 million). EBITDA LFL came to € 81 million, slightly below the previous year’s level of € 86 million.
Wienerberger Piping Solutions delivered broadly stable revenues of € 221 million (2019: € 224 million).