Denmark: Rockwool International A/S saw its net profit decline slightly to Euro16.5m in the three months to 30 June 2011 from Euro17.2m in the corresponding period of 2010.
Recovery in the company's main European insulation markets, driven by Germany and France, continued and considerable growth was marked in Poland and Russia as well.
Net sales went up to Euro845m from Euro452m. Operating costs expanded by 18% to Euro434m, which led to a reduction in earnings before interest, tax, depreciation and amortisation (EBITDA) to Euro57.9m from Euro64.8m in the quarter.
Rockwool foresees that further sales growth will come in the coming quarters. Rockwool anticipates that its net profit after minority interests will be Euro73.8m for 2011.
