Denmark: Rockwool recorded sales of €2.91bn in the first nine months of 2025, up by 1% year-on-year. Group earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 2% to €665m, while insulation sales rose by 2% to €2.33bn, with an EBIT for the segment of €393m. While sales grew ‘solidly’ in Eastern Europe and Southern Europe, the producer noted a ‘continued slow-down’ in Russia and a decline in efficiency at multiple plants, along with lower operating cost leverage, globally. It also ‘experienced headwinds’ in key markets following large projects postponements in Canada and the UK.
During the period, Rockwool invested €307m across its operations. This went towards on-going stone wool insulation plant projects in India and the US and an expansion to double the capacity of its Ariceştii Rahtivani plant in Romania, due for completion in 2027 at a total cost of €150m. Sales in the US, meanwhile, returned to a ‘good growth path.’
CEO Jes Munk Hansen said "As indicated in our previously announced outlook adjustment, the volatility and hesitation we saw across many markets impacted our third quarter 2025 results. Trade policy uncertainty and geopolitical tensions persisted in the quarter, though not all markets were affected equally.”
Rockwool expects ‘Revenue at level with 2024 in local currencies’ in the full year 2025. It says that it will continue to invest in capacity expansion, decarbonisation and digitalisation.
