ROCKWOOL Group has had a good start to 2021, with accelerated sales growth in the last part of the first quarter and a healthy growth in earnings. The positive sales development has been driven by increased construction activities, strong demand for non-combustible insulation products and good sales performance in the Systems segment. During the quarter, sales prices remained stable and growing pressure on gas, electricity and logistic costs were offset by good operational efficiency in the factories.
Solid first quarter performance, double-digit growth outlook for 2021
Solid sales and earnings performance with sales growing 6.0 percent and EBIT increasing 12 percent. Market conditions for the full year look strong with broad-based improvement leading to an estimated sales growth of 10-12 percent and an EBIT margin of around 12 percent.
Highlights
- Sales in Q1 2021 reached 671 MEUR, a growth of 6.0 percent in local currencies compared to Q1 2020. With a negative currency translation impact of 2.7 percentage points, sales growth in reported figures totalled 3.3 percent.
- EBITDA in Q1 2021 reached 139 MEUR, with a 20.7 percent EBITDA margin, up 1.5 percentage points from Q1 2020.
- EBIT in Q1 2021 increased 12 percent to 90 MEUR, with a 13.3 percent EBIT margin, up 1.0 percentage point from Q1 2020.
- Investments excluding acquisitions and grants reached 82 MEUR in the quarter, down 33 MEUR compared to last year.
- Annualised return on invested capital reached 16.9 percent compared to 20.2 percent last year, a decrease due to an increase in factory investments.
Outlook 2021
- Growth in net sales of 10-12 percent in local currencies.
- EBIT margin around 12 percent.
- Investment level around 370 MEUR excluding acquisitions.
See our Q1 results here, and follow the earnings call here.
About ROCKWOOL Group
At ROCKWOOL Group, we are committed to enriching the lives of everyone who experiences our product solutions. Our expertise is perfectly suited to tackle many of today’s biggest sustainability and development challenges, from energy consumption and noise pollution to fire resilience, water scarcity and flooding. Our product range reflects the diversity of the world’s needs, while supporting our stakeholders in reducing their own carbon footprint.
Stone wool is a versatile material and forms the basis of all our businesses. With more than 11,500 passionate colleagues in 39 countries, we are the world leader in stone wool solutions, from building insulation to acoustic ceilings, external cladding systems to horticultural solutions, engineered fibres for industrial use to insulation for the process industry and marine & offshore.
Press Release
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ROCKWOOL Annual Report 2020 announced
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Press Release
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ROCKWOOL Sustainability Report 2020: Use less, green the rest
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Press Release
20 Apr 2021
ROCKWOOL recognised for pioneering financial communication
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