Core Insights - ROCKWOOL delivered a robust performance in 2025 despite a challenging economic environment, with revenue reaching 3,877 MEUR, a 1.1% increase in local currencies [3] - The company faced significant losses due to the value adjustment related to its Russian business, amounting to 392 MEUR [3] - The EBITDA for 2025 was 864 MEUR, with a margin of 22.3%, reflecting a decline from the previous year [3] Financial Performance - Revenue in Q4 2025 was 967 MEUR, up 0.8% in local currencies [3] - EBITDA in Q4 2025 was 199 MEUR, with a margin of 20.5%, down 3.2 percentage points from Q4 2024 [3] - Profit for the year was 28 MEUR, a decrease of 522 MEUR primarily due to the loss from the Russian business [3] Investments and Future Outlook - Total investments in 2025 amounted to 473 MEUR, focusing on new factories in the US and India, a new production line in Romania, and digitalization initiatives [3] - The company expects revenue growth of 2-4% in 2026 in local currencies and an EBIT margin between 13-14% [3][4] - Investment levels are projected to be around 650 MEUR in 2026, excluding acquisitions [3] Market Position and Strategy - ROCKWOOL gained market share in Central Europe and North America, indicating a strong competitive position [4] - The company is committed to long-term investments in capacity expansion and decarbonization, achieving a 25% reduction in CO2 intensity compared to the 2015 baseline [3][4]

Core Viewpoint - ROCKWOOL has lost control over its four factories in Russia due to a presidential decree, resulting in external management taking over the Russian subsidiary [1][2]. Group 1: Legal and Regulatory Response - The company plans to vigorously defend its legal rights under the Bilateral Investment Treaty between Russia and Denmark, although it remains pessimistic about reversing the forced external administration decision [2]. - ROCKWOOL will seek guidance and support from the Danish government and EU authorities regarding the situation [2]. Group 2: Financial Impact - As a result of losing control over the factories, ROCKWOOL will de-consolidate the four legal entities, leading to a write-down of the net value (equity) of the businesses [3]. - The total equity of the Russian business was reported at 469 million EUR as of December 31, 2025, with full-year 2025 revenue and EBIT of 261 million EUR and 78 million EUR, respectively [3].

Group 1 - A Russian presidential decree has resulted in external management taking control of ROCKWOOL's four factories in Russia, leading to the company losing control over its assets in the country [1] - ROCKWOOL plans to vigorously defend its legal rights under the Bilateral Investment Treaty between Russia and Denmark, but is not optimistic about reversing the forced external administration decision [2] - The loss of control over the four factories will lead to their de-consolidation, with a total equity write-down of 469 million EUR as of December 31, 2025, and the Russian business reported revenue and EBIT of 261 million EUR and 78 million EUR respectively for the full year 2025 [3]

Financial Calendar Overview - The financial calendar for ROCKWOOL A/S for the year 2026 has been released, detailing key dates for financial reporting and shareholder meetings [1]. Key Dates - Quiet period before Q4: December 21, 2025 - February 4, 2026 [1] - Annual Report for 2025: February 4, 2026 [1] - Deadline for shareholders to submit proposals for the agenda of the annual general meeting: March 3, 2026 [1] - Annual General Meeting: April 15, 2026 [1] - Dividends for 2025 at the disposal of shareholders: April 20, 2026 [1] - Quiet period before Q1: April 4 - May 19, 2026 [1] - Report on the first quarter of 2026: May 19, 2026 [1] - Quiet period before Q2: July 5 - August 19, 2026 [1] - Report on the first half-year of 2026: August 19, 2026 [1] - Quiet period before Q3: October 11 - November 25, 2026 [1] - Report on the first nine months of 2026: November 25, 2026 [1] Contact Information - For further information, Kim Junge Andersen, Senior Vice President and CFO, can be contacted at +45 46 56 03 00 [1].

Core Insights - The company faced difficult market conditions in Q3 2025, impacting overall performance, with trade policy uncertainty and geopolitical tensions affecting key markets differently [2][3] - Despite challenges, the company remains financially robust and continues to invest in capacity expansion, decarbonisation, and digitalisation [3] Financial Performance - Revenue for the first nine months of 2025 reached 2,910 MEUR, a 1% increase compared to the previous year, with 2024 acquisitions contributing a 2 percentage point positive impact [4] - Q3 2025 revenue was 963 MEUR, reflecting a 2% increase in local currencies and a 1% increase in reported figures, again aided by 2024 acquisitions [4] - EBITDA for the first nine months was 665 MEUR, with a margin of 22.9%, down 1.7 percentage points year-over-year [4] - Q3 2025 EBITDA was 215 MEUR, with a margin of 22.3%, down 2.9 percentage points compared to Q3 2024 [4] - EBIT decreased by 11% to 457 MEUR in the first nine months, with a margin of 15.7%, down 2.1 percentage points year-over-year [4] - Q3 2025 EBIT decreased by 14% to 150 MEUR, with a margin of 15.5%, down 2.6 percentage points compared to Q3 2024 [4] Investments and Cash Flow - Total investments in the first nine months of 2025 amounted to 307 MEUR, focusing on new factories in North America and India, production expansion in Romania, and electrification of existing production lines [4] - Cash flow from operations before financial items and tax was 579 MEUR in the first nine months, down from 684 MEUR the previous year [4] Shareholder Information - The company initiated a share buy-back program, purchasing 3,259,800 B shares for a total of 119 MEUR during the first nine months of 2025 [4] - Shareholders can request conversion of A shares to B shares from 26 November 2025 until 10 December 2025 [4] Outlook - Revenue is expected to remain at last year's level in local currencies, with EBIT margin projected between 14-15% [4]

Core Viewpoint - ROCKWOOL A/S has adjusted its full-year earnings outlook for 2025 due to an unplanned factory closure in Switzerland and ongoing challenging market conditions, particularly in the UK, Canada, and Russia [1][3]. Financial Performance - Revenue for the first nine months of 2025 reached 2,910 MEUR, reflecting a one percent increase compared to the previous year, with 2024 acquisitions contributing a two-percentage point positive impact [6]. - Q3 2025 revenue was 963 MEUR, showing a two percent increase in local currencies and a one percent increase in reported figures compared to last year, also benefiting from the 2024 acquisitions [6]. - EBIT for the first nine months of 2025 decreased by 11 percent to 457 MEUR, with an EBIT margin of 15.7 percent, down 2.1 percentage points from the previous year [6]. - In Q3 2025, EBIT decreased by 14 percent to 150 MEUR, with an EBIT margin of 15.5 percent, down 2.6 percentage points compared to Q3 2024 [6]. Outlook Adjustments - The EBIT margin for full-year 2025 is now expected to be between 14 and 15 percent, revised from a previous outlook of below 16 percent [1][5]. - The company maintains its revenue expectations to be at the same level as last year, with an investment level around 450 MEUR excluding acquisitions [5]. - The factory in Flums, Switzerland, is currently non-operational due to a production-related incident, impacting Q4 2025 earnings negatively, with ongoing negotiations with insurance companies expected to conclude in early 2026 [3][4]. Market Conditions - The UK insulation business faced unexpected challenges in Q3 2025, with large flat roof projects being cancelled or postponed, although sales have returned to normal levels in early Q4 2025 [4]. - The construction market in Canada is heavily affected by rising inflation and trade tensions, leading to a significant impact on market demand, with no near-term improvement anticipated [4]. - The downturn in Russia continues to negatively affect Group earnings due to sales price decreases and higher-than-expected inflation [4].

Core Viewpoint - The company is adjusting its outlook due to market uncertainty but remains committed to long-term value creation through investments [1][5]. Financial Performance - Revenue for H1 2025 reached 1,947 MEUR, a 1% increase compared to last year, with a positive impact of 2 percentage points from 2024 acquisitions [4]. - Q2 2025 revenue was 988 MEUR, a 2% decrease compared to last year, also reflecting a 2 percentage point positive impact from acquisitions [4]. - EBITDA for H1 2025 was 450 MEUR, with a margin of 23.1%, down 1.2 percentage points from H1 2024 [4]. - Q2 2025 EBITDA was 227 MEUR, with a margin of 23.0%, down 2.1 percentage points from Q2 2024 [4]. - EBIT for H1 2025 decreased by 10% to 307 MEUR, with a margin of 15.8%, down 1.9 percentage points from H1 2024 [4]. - Q2 2025 EBIT decreased by 19% to 153 MEUR, with a margin of 15.5%, down 3.2 percentage points from Q2 2024 [4]. Market Conditions - The technical insulation business performed well, particularly in several European markets such as the UK, Spain, Italy, and Romania, while some markets, including the Nordics, experienced double-digit sales declines [3]. - The company expects full-year revenue to be at the same level as last year and EBIT margin to be below 16%, revised from previous expectations of low single-digit growth and around 16% margin [2][4]. Investments and Future Outlook - Investments totaled 187 MEUR in H1 2025, focusing on production capacity expansion in Romania, a new factory in North America, and digitalization efforts [4]. - The company plans to invest around 450 MEUR excluding acquisitions in the upcoming period [4]. - Despite near-term challenges, the company remains optimistic about future growth and will continue to invest in capacity expansion, decarbonization, and digitalization [5].

Core Viewpoint - ROCKWOOL A/S has adjusted its revenue and earnings outlook for the full year 2025 due to a challenging market environment, particularly in North America [2][3]. Group 1: Revenue Outlook - The company expects full-year revenue to be at the same level as last year in local currencies, a change from the previous expectation of low single-digit revenue growth [2][5]. - Revenue for H1 2025 reached 1,947 MEUR, reflecting a one percent increase in both local currencies and reported figures compared to the previous year, with acquisitions in 2024 contributing a two-percentage point positive impact [5]. - Revenue for Q2 2025 was 988 MEUR, showing a two percent decrease in both local currencies and reported figures compared to last year, despite a two-percentage point positive impact from 2024 acquisitions [5]. Group 2: Earnings Outlook - The EBIT margin is now forecasted to be below 16 percent, revised from the previous outlook of around 16 percent [3][5]. - EBIT for H1 2025 decreased by 10 percent to 307 MEUR, with an EBIT margin of 15.8 percent, down 1.9 percentage points compared to H1 2024 [5]. - EBIT for Q2 2025 decreased by 19 percent to 153 MEUR, with an EBIT margin of 15.5 percent, down 3.2 percentage points compared to Q2 2024 [5]. Group 3: Investment Level - The investment level, excluding acquisitions, is maintained at around 450 MEUR [3].

Group 1 - The company reported a revenue of 959 MEUR in Q1 2025, marking a 4% increase compared to the previous year, with 2 percentage points of this increase attributed to acquisitions made in October 2024 [5] - EBITDA for Q1 2025 reached 223 MEUR, resulting in a 23.2% EBITDA margin, which is a slight decrease of 0.3 percentage points from Q1 2024 [5] - EBIT increased by 1% to 154 MEUR in Q1 2025, with an EBIT margin of 16%, down 0.5 percentage points from Q1 2024, primarily due to higher depreciation costs [5] Group 2 - The company is progressing with investments totaling 93 MEUR in Q1 2025, focusing on electrification of production lines, capacity expansion in Romania, digitalization, and a new factory in the United States [5] - Cash flow from operations before financial items and tax was 126 MEUR in Q1 2025, compared to 135 MEUR in Q1 2024 [5] - The company plans to invest around 450 MEUR excluding acquisitions in the upcoming period [5] Group 3 - The CEO highlighted that the company continues to perform well in revenue and profitability, with positive developments across all key indicators, except in Eastern Europe [2] - Continuous demand for energy-efficient and fire-safe solutions is expected in Europe as member states work on national renovation plans to meet mandatory targets [2] - The company purchased 84,680 B shares for a total of 31 MEUR as part of its share buy-back programs during Q1 2025 [5]

Group 1 - The Annual General Meeting of ROCKWOOL A/S resolved to reduce the Company's B share capital from nominally 118,028,700 DKK to nominally 113,427,400 DKK by cancelling a portion of the Company's treasury B shares, amounting to 4,601,300 DKK [1] - The capital reduction has been completed and registered with the Danish Business Authority, resulting in the cancellation of 4,601,300 B shares of 1 DKK each, leading to a total share capital of nominally 211,605,790 DKK, which includes a class A share capital of nominally 98,178,390 DKK and a class B share capital of nominally 113,427,400 DKK [2] - The capital reduction does not impact the Company's share buy-back programme, which will continue as previously announced [3]