First quarter report of 2018
for ROCKWOOL International A/S
Release no. 8 – 2018
to Nasdaq Copenhagen

18 May 2018

Strong first quarter performance supports positive outlook for the year



  • Sales in Q1 2018 reached EUR 603 million, a growth of 17 percent in local currencies including acquisitions, which contributed three percentage points. The negative currency impact was four percentage points.
  • EBIT in Q1 2018 increased 53 percent to EUR 70 million, with an 11.6 percent EBIT margin, up three percentage points from last year.
  • Investments reached EUR 48 million, up EUR 13 million compared to last year, primarily due to ongoing expansions in Poland and the United States.
  • Annualised return on invested capital reached 18.6 percent compared to 15.5 percent last year, driven by higher operational earnings. 
  • In addition, ROCKWOOL publishes its 2017 Sustainability Report, available online at

Outlook 2018

  • Growth in net sales is expected to reach 7-10 percent in local currencies, including around two percent from the acquisition of Flumroc. With lower comparables, we expect higher growth rates in the first half of the year.
  • EBIT margin is expected to reach around 13 percent (as announced on 30 April 2018).
  • Investment level excluding acquisitions is expected to be around EUR 260 million from previously EUR 230 million, mainly related to investment in the UK to increase capacity.

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

“The strong first quarter performance is primarily driven by growing demand for our non-combustible insulation as well as our focus on productivity improvements and pricing. Owing to our broad-based manufacturing footprint, particularly in Europe, we are able to flexibly service growing customer demand, even if this results in somewhat increased logistics costs”.

Further information:
Kim Junge Andersen, Chief Financial Officer
ROCKWOOL International A/S
+45 46 56 03 00

Conference call:
The ROCKWOOL Group will host an earning call on 18 May 2018 at 11.00 CET. To attend the conference call dial +4570223500, +44(0)2075721187 or +1 6467224972. Passcode 19660074#. The conference call will be transmitted live on