Satisfactory performance in a difficult environment
07 Février 2024 - 1:35PM
Satisfactory performance in a difficult environment
Annual Report for 2023for ROCKWOOL A/SRelease no. 01 – 2024to
Nasdaq Copenhagen
7 February 2024
Satisfactory performance in a difficult
environment Highlights
- Sales in 2023 reached 3620 MEUR, a decrease of four percent in
local currencies and seven percent in reported figures.
- In Q4 2023, sales reached 934 MEUR, up two percent in local
currencies and a decrease of two percent in reported figures.
- EBIT in 2023 ended at 518 MEUR, up 29 percent, with an EBIT
margin of 14.3 percent. This includes the 27 MEUR donation to the
Foundation for Ukrainian Reconstruction.
- EBIT in Q4 2023 reached 135 MEUR, with an EBIT margin of 14.4
percent, up 3.9 percentage points from Q4 2022.
- Profit for the year reached 389 MEUR, an increase of 116 MEUR
compared to 2022, which we consider to be a satisfactory result
taking difficult market conditions into consideration.
- Investments for the year totalled 317 MEUR, primarily from the
conversion to electrical melter in Switzerland, additional capacity
in Czechia and new capacity for Grodan and Rockpanel.
- Free cash flow ended the year at 395 MEUR against 60 MEUR for
2022, due to higher earnings, lower working capital and stable
investment level.
- The proposed dividend per share is 43 DKK, an increase of 8 DKK
per share from 2023.
- Our performance related to seven sustainability goals that have
time horizons 2030 and 2034 remains on or ahead of schedule. See
www.rockwool.com for the 2023 Sustainability Report.
- ROCKWOOL commits to net-zero GHG emissions by 2050 with primary
focus on achieving 2034 decarbonisation goals.
- A share buy-back programme up to an amount of 160 MEUR will
commence on 8 February 2024
- Shareholders may from 7 February 2024 until 21 February 2024
request conversion of A shares to B shares. For further information
please refer to
https://www.rockwool.com/group/about-us/investors/conversion-shares/.
Outlook 2024
- Sales is expected to be roughly at the same level as in 2023 in
local currencies.
- EBIT margin around 13 percent.
- Investment level around 375 MEUR, excluding acquisitions.
For further details on the Outlook, please refer to the Annual
Report 2023, pp. 12-13.
CEO commentCommenting on the Group’s
performance, CEO Jens Birgersson says:
“Given the low construction activity levels in most of our
markets, we achieved overall satisfactory results in 2023. Sales
were down four percent, which is less than we expected at the start
of 2023. I am pleased that we secured a solid level of
profitability, notwithstanding the challenging market conditions.
We are making good progress on our sustainability goals and will
continue investing in decarbonisation efforts. Looking ahead, we
expect to see continued low construction activity levels in key
markets, with the notable exceptions of North America and Asia.
Overall, we anticipate 2024 sales to be roughly at the same level
as in 2023 in local currencies. Profitability should remain solid
at around 13 percent EBIT margin”.
Further information:Kim Junge Andersen, Chief
Financial OfficerROCKWOOL A/S+45 46 56 03 00
Earnings call:ROCKWOOL Group will host an
earnings call on 8 February 2024 at 11.00 CET. The earnings call
will be transmitted live on www.rockwool.com.
- ROCK-2023-12-31-en
- SE-2024-01_Annual Report 2023
- SE-2024-01_Remuneration Report 2023
- SE-2024-01_Sustainability Report 2023
- SE-2024-01_Company announcement
Rockwool AS (TG:R90)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Rockwool AS (TG:R90)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024