ROCK B Rockwool International A/S Class B

Solid first quarter performance, double-digit growth outlook for 2021

Solid first quarter performance, double-digit growth outlook for 2021

First quarter report of 2021

for ROCKWOOL International A/S

Release no. 13 – 2021

to Nasdaq Copenhagen

19 May 2021

Solid first quarter performance, double-digit growth outlook for 2021



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.

CEO comment

Commenting on the Group’s performance, CEO Jens Birgersson says:

“Construction activity in most markets has recovered, and we expect double-digit top-line growth for 2021. Overall, we are satisfied with the solid sales and profitability growth we achieved in the first quarter. The top- and bottom-lines are above first quarter results from both 2020 and 2019. Sales grew well in North America, Russia, China, and most of Western Europe. A clear focus on operational efficiency combined with a manageable impact of higher input costs contributed to the good profitability in both segments, with the Systems segment performing especially well”.  

Further information:

Kim Junge Andersen, Chief Financial Officer

ROCKWOOL International A/S

Conference call:

ROCKWOOL Group will host an earnings call on 20 May 2021 at 11.00 CEST. To attend the conference call dial , or . Passcode 56078017#. The call will be transmitted live on

Attachment



EN
19/05/2021

Underlying

ROCK BRockwool International A/S Class B

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