Denmark: Rockwool has increased its 2012 net profit forecast to US$109-118m compared with its previous guidance of 'above US$100m.' The company reiterated its forecast of full-year sales growth of 5% in 2012 but warned that it expects continued tough conditions in the Eurozone.

The insulation giant said that it expects some recovery in its profit margins, helped by price increases and an anticipated easing in inflationary pressures.

In the first quarter of 2012, the company's net profit rose to US$17.4m from US$11.5m in the first quarter of 2011, while earnings before interest and taxes (EBIT) rose by 48% to US$26m. Rockwool's sales rose by 11% in the quarter to US$4.1bn, driven by increased demand in some of its key European markets.

UK: Superglass Holdings, which makes glass fibre insulation, has reported that it made a pre-tax profit for the half year that ended on 29 February 2012. It added that market conditions remain difficult and that there is uncertainty over how the UK government's Green Deal environmental policy will operate.

Revenue for the half year rose year-on-year to Euo21.1m from Euro18.4m in the same half year in 2011, an increase of 14%. Pre-tax profit rose to Euro9.92m from a loss of Euro2.7m. Tight control continues to be exercised over costs and working capital.

China: China's Ministry of Finance and Ministry of Housing and Urban-Rural Development have announced that the state will ensure that more than 30% of new construction projects produce green buildings by 2020 via subsidies and lightened administrative requirements. Such a drive is likely to increase demand for insulation in the country. China is expected to invest over US$158bn in energy efficient buildings by 2020.

China has set a 'green' target for the industry for the first time in 'Guidelines on Promoting China's Green Buildings'. Since January 2012, China has issued related documents promoting the Golden Sun project, for energy conservation in new buildings in the middle and lower reaches of the Yangtze River and northern China, including the use of renewable energy sources in the buildings.

Green buildings are incorporated in the 12th Five-Year Plan. According to the two ministries, the Chinese government will act via incentive policies, standards, technological progress, industrial supports and accreditation to stimulate all of the sectors that are crucial to green buildings.

China's built-up areas are currently expanding at a rate of two billion square metres per year. The government expects that the operation of buildings will become the biggest energy consumer in the country by 2020, accounting for over 30% of the total at that time. According to preliminary estimates, new buildings being built in the 12th Five-Year Plan period (2010-2015) could save 45Mt/yr of standard coal if the state adopts strict energy saving measures and pushes green construction forward.

US: Owens Corning (OC) has reported that its consolidated net sales increased by 9% to US$1.35bn in the first quarter of 2012, compared with US$1.24bn in the same period of 2011. Its first quarter adjusted earnings, (based on the company's expected full-year effective tax rate of 25%), were US$11m compared with US$27m in the same period of 2011. OC reported a net loss of US$46m compared with net earnings of US$24m in the first quarter of 2011.

"OC delivered results in line with our expectations for the quarter," said chairman and CEO Mike Thaman. "We continue to be confident that we will grow our adjusted earnings before interest and tax (EBIT) in 2012."

Although there continues to be uncertainty in the macro-economic outlook, OC expects to grow adjusted EBIT in 2012 based on an improving US housing market and continued growth in global industrial production.The company said that, despite weakness in the European glass fibre reinforcements market, it believes that global glass reinforcements demand will continue to grow in 2012.

Meanwhile depreciation and amortisation expenses are expected to be as much as US$320m in 2012, excluding the impact of the restructuring actions in Europe. OC expects its capital expenditure to be about US$350m in 2012.

The company also announced that its board of directors has authorised the company to repurchase up to 10 million additional shares of its outstanding common stock. Under a previously announced share repurchase programme, 3.7 million shares continue to be available for repurchase.