ROCKWOOL reports satisfactory 2023 performance in a difficult environment

HEDEHUSENE, Denmark, Feb. 07, 2024 (GLOBE NEWSWIRE) -- ROCKWOOL's full year 2023 sales reached 3620 MEUR, a decrease of four percent in local currencies and seven percent in reported figures. EBIT in 2023 ended at 518 MEUR, up 29 percent, with an EBIT margin of 14.3 percent. This includes a 27 MEUR donation to the Foundation for Ukrainian Reconstruction, the creation of which shareholders approved in 2023.

In addition, ROCKWOOL's performance related to seven sustainability goals that have time horizons 2030 and 2034 remains on or ahead of schedule. The company also commits to net-zero greenhouse gas emissions by 2050 with primary focus on achieving its 2034 decarbonisation goals.

CEO Jens Birgersson comments on both the financial and sustainability results, noting, "Given the low construction activity levels in most of our markets, we achieved overall satisfactory results in 2023. Sales were down four percent, which is less than we expected at the start of 2023. I am pleased that we secured a solid level of profitability, notwithstanding the challenging market conditions. We are making good progress on our sustainability goals and will continue investing in decarbonisation efforts."

On the outlook for 2024, Birgersson says, "Looking ahead, we expect to see continued low construction activity levels in key markets, with the notable exceptions of North America and Asia. Overall, we anticipate 2024 sales to be roughly at the same level as in 2023 in local currencies. Profitability should remain solid at around 13 percent EBIT margin."

You can download the full Annual and Sustainability Reports at www.rockwool.com.

ROCKWOOL Group will host an earnings call on 8 February 2024 at 11.00 CET. The earnings call will be transmitted live on www.rockwool.com.

Contact information:

Helge Frandsen
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a6342fe0-d71e-44f4-b9a4-c07a617a4bd0