Wienerberger Comment: Q1 2022

Relaxing Covid restrictions, improved supply chains, and continued construction workload rises have all contributed to a strong start to the year for many manufacturers, Wienerberger included.

According to the S&P Global / CIPS UK Construction PMI for March data, UK construction output has increased again, helped by the fastest rise in new work for seven months. However, globally the impact of inflation continues to be felt.

The Consumer Prices Index (CPI) rose by 6.2% in the 12 months to March 2022, up from 5.5% to February. This is the highest CPI 12-month inflation rate in the National Statistic series which began in January 1997, and the highest rate in the historic modelled series since March 1992, when it stood at 7.1%. These inflationary pressures have led to a weakening of positive sentiment for activity in the year ahead.

One positive omen for the coming year and beyond though, is the continued focus being placed on sustainability by many in our sector. For the first time, in 2022 Wienerberger combined our Annual and Sustainability report, holding us accountable for progress beyond the financial successes. Keeping people and sustainable values at the heart of our organisations will be the essential foundations to allow for continued growth for the future.

As we look back on the first quarter of 2022, I want to take this opportunity to highlight the resilience I’ve seen in our sector. Despite a very challenging two years, with more challenges still to come, I believe that most in our sector are stronger and more prepared to succeed than ever before.

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