Denmark: Rockwool has announced its first half results for 2018. Sales for the half reached Euro1.27bn, 16.9% more in local currency terms. In the second quarter, sales were up by 17.3% to Euro667m. Earnings before interest and tax (EBIT) for the first half reached Euro161m, an increase of 47% year-on-year. EBIT in the second quarter was Euro91m, an increase of 43% year-on-year.
Investments in the first half of 2018 reached Euro89m, an increase of Euro26m compared to the first half of 2017, primarily due to ongoing capacity expansions in Poland and the United States.
The outlook for 2018 from the company is positive. It expects net sales to grow by 13-15% during 2018 in local currency terms, including around 2-3% from its acquisition of Flumroc.
Commenting on the Group’s performance, CEO Jens Birgersson said, “Our half-year results show solid improvement on both sales and profitability, underlining strengthened performance towards customers and growing market demand for our non-combustible insulation and other stone wool products. With sales up in all regions, Rockwool’s 11,000 highly dedicated and committed employees are the driving force behind these positive results.”
