Denmark: Rockwool has reported that during the first quarter of 2014, which ended on 31 March 2014, it generated sales of Euro485m, up by 15% year-on-year.
Earnings before interest and taxes (EBIT) were Euro28.4m, up by 39% year-on-year, including Euro7.40m from the insulation sector, which was a Euro4.9m increase on the same period of 2013. EBIT for holding companies was Euro11.8m, up by Euro1.7m. Net profit during the quarter was Euro19.1m, a Euro5.8m improvement on 2013. Costs were Euro1.6m, down by Euro0.5m in 2013.
External sales of insulation products were Euro374m, up by 9% compared to the same period of 2013. In Eastern Europe, sales increased by 20%, primarily due to continued positive growth in Russia and a good market recovery in Poland. Insulation sales were positive in all world regions except for China.
Rockwool expects to achieve Euro127m in net profit for the whole of 2014 off the back of continued market recovery in many regions, particularly Russia.
