US: Owens Corning grew its insulation sales revenue in 2021 through increased volumes and higher prices. Its insulation business sales grew by 22% year-on-year to US$3.18bn in 2021 from US$2.61bn in 2020. Its earnings before interest and taxation (EBIT) rose by 78% to US$446m from US$250m. It added that higher selling prices more than offset inflation and increased transportation costs. The group’s overall revenue rose by 20% year-on-year to US$8.50bn and its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 41% to US$1.90bn.
“2021 was a year of tremendous accomplishment and record results for Owens Corning. Our global teams continued to elevate their performance to support our customers and generate growth in our key products and geographies, outperforming the markets we serve,” said chair and chief executive officer Brian Chambers.
