Insulation industry news from Global Insulation

Denmark: Rockwool has reported that its trend of ‘solid’ performance continued in the third quarter of 2018, with high sales growth and increased profitability so far over the course of the year.
Sales in the first nine months reached Euro1.96bn, an increase of 16.1% in local currency terms, including acquisitions, which contributed three percentage points. The negative currency impact was three percentage points. In the third quarter of 2018, sales increased by 14.6% in local currency terms to hit Euro692m.

Earnings before interest and tax (EBIT) over the first nine months of 2018 ended at Euro258m, an increase of 39%. In the third quarter of 2018, EBIT was Euro97m, an increase of 28% year-on-year.

Rockwool’s growth in net sales is now expected to be 14-15% for the whole of 2018 in local currency terms, including around 2-3% from the acquisition of Flumroc.

Commenting on the group’s performance, CEO Jens Birgersson said,
“We are pleased with our sales and profitability performance, as we achieved good top line growth in all major regions and good profitability across the board. The higher input costs we’re experiencing are being offset by strong factory performance and high productivity.”

“It’s also gratifying that our sustainability efforts are being recognised, with the Standard & Poor’s Trucost analysis confirming that 100% of Rockwool’s products contribute to meeting UN Sustainable Development Goals,” concluded Birgersson.

UK: SIG’s revenue has fallen in the three months to October 2018 due to a weakening construction market in the UK. Its revenue in the UK and Ireland fell by 8.7% year-on-year. It said that commercial construction demand had remained dampened by macro-economic uncertainty, house price inflation was slowing and secondary housing market transactions had continued to fall. Its sales in Europe were mixed with quarterly declines in France and Germany but strong gains in Poland, the Benelux region and in its Air Handling business.

Ireland: Kingspan’s sales rose by 18% year-on-year to Euro3.18bn in the first nine months of 2018. Insulated panel sales increased by 20% due to mainland European sales and the acquisition of Synthesia and Balex. Despite an improvement in the third quarter the market in the UK as reported as subdued for smaller and medium projects. Insulation board sales grew by 13% driven by its Kooltherm product sales. European sales were reported as mixed, although improvements in Scandinavia, Southern Europe and North America were noted.

US: Foam Systems has opened a new spray foam insulation plant at Norwalk in Connecticut. The producer claims it is the only such producer in New England. The company produces products including Thermoseal Spray Foam Insulation, Igloo Foam Insulation and others. It plans to open other plants across the US and provide private label services to other spray foam brands and to anyone who would like a private label spray foam insulation system.

“With the ever-changing environment in the spray foam industry given all the mergers and acquisitions, the only way to survive in the future is to open manufacturing locations across the US. We are fully committed to this effort and have multiple manufacturing facilities across the US under consideration” said Richard Ettinger, General Manager of Foam Systems.

Belgium: Recticel is promoting its Du.Panel X polyurethane panel product for the agricultural sector. It offers a lambda value of 0.020W/mK for panel thicknesses of 40 – 120mm and fire resistance with Euroclass B-s2,d0. The product is intended for using in livestock buildings and stables. It joins other agricultural products including Powerline, Cronus and Eurothane.