Q3 2025 Rockwool A/S Earnings Call Transcript
Key Points
- Revenue in the first nine months increased by 1% in local currencies, with acquisitions contributing an additional 2% increase.
- The insulation segment saw a 3% revenue increase in local currency, with strong sales performance in Poland, Romania, Spain, Italy, and France.
- Western Europe experienced double-digit growth in Italy and Spain, and France returned to growth after several quarters of decline.
- The US market is back to growth levels, with capacity available in Canadian factories to support US demand.
- Rockwool AS (RKWBF) is optimistic about long-term demand for its products, driven by energy efficiency agendas in Europe and expansion in the United States.
- The EBIT margin declined by 2.1 percentage points due to unfavorable country and product mix, reduced efficiency in factories, and a decline in operating cost leverage.
- Q3 sales and earnings were negatively affected by a sales decrease in the UK, where large flat roof projects were canceled or postponed.
- The Canadian market is facing challenges due to trade tensions, with no quick recovery expected.
- Russia continues to experience a double-digit revenue decrease, impacting overall group performance.
- Free cash flow decreased by €92 million compared to the same quarter last year, mainly due to lower earnings, less favorable working capital development, and higher investments.
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Good day to everyone. Welcome to Ogw's AS conference call regarding the result for the 1st 9 months of 2025. My name is Kim Jong Anderson. I'm the CFO of Ogw AS. Today I'm pleased to present CEO J Muk Hansen.
For the first part of this call, all participants will be in listening only mode. As a reminder, this conference call is being recorded. First, yes, we'll go through our presentation and give you an update of the results for the 1st 9 months and 3rd quarter of 2025. Afterwards, we'll be ready to answer all your questions.
Before I hand over the word to yes, I must ask you to notice slide number 2, which is the forward-looking statement. Please be aware that this presentation contains uncertainties.
Now we can go to the next slide, which is slide number 3. Yes, I now hand over the word to you.
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Good morning everyone.
And I start on slide number 3.
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