Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Claes Westerlind was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • May 12
Rockwool A/S Updates Earnings Guidance for the Year 2026 Rockwool A/S updated earnings guidance for the year 2026. For the year, the company expects revenue growth to be between 3% to 6%, changed from previously between 2% to 4%. EBIT margin is maintained between 13% to 14%.After a slow start of the year, affected by the weather in Europe, volume demand has picked up from March into the second quarter, and company expects the higher revenue level to continue in the second half of the year. Annonce • May 11
Rockwool A/S Revises Earnings Guidance for the Year 2026 dRockwool A/S revised earnings guidance for the year 2026. Based on this, the company forecast full-year revenue growth to be between 3%-6%, changed from previously between 2%-4%. Annonce • Dec 06
Rockwool A/S, Annual General Meeting, Apr 15, 2026 Rockwool A/S, Annual General Meeting, Apr 15, 2026. Annonce • Nov 12
Rockwool A/S Adjusts Earnings Guidance for the Full-Year 2025 Rockwool A/S adjusted earnings guidance for the full-year 2025. For the period, the company expects an EBIT margin to be between 14% and 15%, compared to the previous outlook of an EBIT margin below 16%. Revenue is still expected to be at level with last year. Annonce • Aug 21
Rockwool A/S Revises Earnings Guidance for the Year 2025 Rockwool A/S revised earnings guidance for the year 2025. For the year, the company expects that its full-year revenue will be at level with last year in local currencies compared to the previous outlook of a low single-digit revenue growth in local currencies. Based on the first half of 2025 earnings level and the ongoing efforts, the company forecast an EBIT margin below 16% compared to the previous outlook of an EBIT margin around 16%. Annonce • Feb 18
Rockwool A/S announces Annual dividend, payable on April 07, 2025 Rockwool A/S announced Annual dividend of DKK 63.0000 per share payable on April 07, 2025, ex-date on April 03, 2025 and record date on April 04, 2025. Annonce • Feb 08
Rockwool A/S (CPSE:ROCK B) announces an Equity Buyback for 900,000 shares, for MUR 150 million. Rockwool A/S (CPSE:ROCK B) announces a share repurchase program. Under the program, the company will repurchase up to 900,000 Class B shares for MUR 150 million. The shares may not be purchased at a price that exceeds the highest of the share price of the most recent independent trade or the highest independent buyer’s bid in the Nasdaq Copenhagen market at the time of trading. The shares repurchased will be cancelled. The repurchase program will continue until February 5, 2026. Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Rebekka Herlofsen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Oct 25
Rockwool A/S (CPSE:ROCK B) acquired Wetherby Building Systems Ltd. Rockwool A/S (CPSE:ROCK B) acquired Wetherby Building Systems Ltd on October 25, 2024.
Rockwool A/S (CPSE:ROCK B) completed the acquisition of Wetherby Building Systems Ltd on October 25, 2024. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: €6.60 (vs €4.70 in 2Q 2023) Second quarter 2024 results: EPS: €6.60 (up from €4.70 in 2Q 2023). Revenue: €1.01b (up 10% from 2Q 2023). Net income: €142.0m (up 39% from 2Q 2023). Profit margin: 14% (up from 11% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Annonce • Jul 19
Rockwool A/S Provides Earnings Guidance for the Year 2024 Rockwool A/S provided earnings guidance for the year 2024. For the year, the company expects sales remains unchanged with an expected growth of around mid-single-digit percent in local currencies. Annonce • Jun 26
Rockwool A/S Elects Janni Munkholm Nielsen as Employee Representative of the Board of Directors The Group-elected employee representative of the Board of Directors in ROCKWOOL A/S. The employees of ROCKWOOL have chosen that Janni Munkholm Nielsen shall represent them for the remaining election period until the Annual General Meeting in 2026, where new elections for employee-elected Board members will take place. Janni Munkholm Nielsen now joins, Connie Enghus Theisen and Christian Westerberg, as employee-elected Board members in ROCKWOOL A/S. Annonce • May 23
Rockwool A/S Announces Demise of Board Member Berit Kjerulf Rockwool A/S announced demise of Board member Berit Kjerulf. Fellow employees elected Berit to represent them on the Board of Directors in 2022. Berit had been employed at ROCKWOOL since 2005. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: €5.40 (vs €3.60 in 1Q 2023) First quarter 2024 results: EPS: €5.40 (up from €3.60 in 1Q 2023). Revenue: €920.0m (up 6.2% from 1Q 2023). Net income: €116.0m (up 49% from 1Q 2023). Profit margin: 13% (up from 9.0% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Annonce • May 16
Rockwool A/S Provides Earnings Guidance for the Year 2024 Rockwool A/S provided earnings guidance for the year 2024. For the year, the company expects Sales growth of around mid-single-digit percent in local currencies. EBIT margin around 15%. Annonce • Apr 11
Rockwool A/S Approves Dividend Rockwool A/S at its Annual General Meeting held on 10 April 2024, approved the dividends of DKK 43 (EUR 5.8) per share of a nominal value of DKK 10, corresponding to a total of EUR 125 million. Upcoming Dividend • Apr 04
Upcoming dividend of kr.43.00 per share Eligible shareholders must have bought the stock before 11 April 2024. Payment date: 15 April 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.8%). Annonce • Feb 29
Rockwool A/S Announces CEO Changes Jens Birgersson will continue as CEO until Jes Munk Hansen, currently CEO at Terma, joins ROCKWOOL, latest 1 September 2024. Successor Jes Munk Hansen has more than 20 years' experience from the building materials industry with a focus on energy efficiency and sustainability. Prior to joining Terma, Jes had substantial international leadership experience, and has among other things lived in the United States, where he was in charge of Grundfos' North America business for five years. Subsequently, he held a number of leadership positions in OSRAM as well as being CEO for LEDVANCE. He is Vice Chairman in the Confederation of Danish Industries and Board member in WSAudiology and has also been on the ROCKWOOL Board for the past year. Jes Munk Hansen will stand for re-election to the ROCKWOOL Board at the next Annual General Meeting and will first step down from the Board in connection with taking over as CEO. Jes Munk Hansen is 56 years-old, married, with four children. The family lives in Copenhagen. He has Danish and American citizenship and earned a Master of Science degree at Copenhagen University and an MBA from London Business School. Annonce • Feb 24
Rockwool A/S to Report Q2, 2024 Results on Jul 26, 2024 Rockwool A/S announced that they will report Q2, 2024 results on Jul 26, 2024 Declared Dividend • Feb 19
Dividend of kr.43.00 announced Shareholders will receive a dividend of kr.43.00. Ex-date: 11th April 2024 Payment date: 15th April 2024 Dividend yield will be 14%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 10% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €290, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Building industry in Europe. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €129 per share. Annonce • Feb 09
Rockwool A/S (CPSE:ROCK B) announces an Equity Buyback for 1,200,000 shares, for €160 million. Rockwool A/S (CPSE:ROCK B) announces a share repurchase program. Under the program, the company will repurchase up to 1,200,000 Class B shares for €160 million. The shares may not be purchased at a price that exceeds the highest of the share price of the most recent independent trade or the highest independent buyer’s bid in the Nasdaq Copenhagen market at the time of trading. The shares repurchased will be cancelled. The repurchase program will continue until February 7, 2025. Reported Earnings • Feb 08
Full year 2023 earnings released Full year 2023 results: Revenue: €3.64b (down 7.0% from FY 2022). Net income: €389.0m (up 43% from FY 2022). Profit margin: 11% (up from 7.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Building industry in Europe. Reported Earnings • Nov 24
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €904.0m (down 11% from 3Q 2022). Net income: €109.0m (up 142% from 3Q 2022). Profit margin: 12% (up from 4.5% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Building industry in Europe. Annonce • Nov 23
Rockwool A/S Provides Earnings Guidance for the Year 2023 Rockwool A/S provides earnings guidance for the year 2023. The company expects Sales decline of 4%-5% in local currencies, changed from previously up to eight percent. EBIT margin around 14%, changed from previously around 13%. Reported Earnings • Sep 03
Second quarter 2023 earnings released: EPS: €4.70 (vs €2.90 in 2Q 2022) Second quarter 2023 results: EPS: €4.70 (up from €2.90 in 2Q 2022). Revenue: €917.0m (down 9.9% from 2Q 2022). Net income: €102.0m (up 65% from 2Q 2022). Profit margin: 11% (up from 6.1% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Annonce • Jul 07
Rockwool A/S Provides Earnings Guidance for the Full Year 2023 Rockwool A/S provided earnings guidance for the full year 2023. For the year, the company expects the EBIT margin to improve to around 12% from the previous outlook of around 10%. Full year outlook for a sales decline of up to 10% in local currencies and investment level around EUR 400 Million excluding acquisitions are maintained. Annonce • May 11
Rockwool A/S Provides Revenue Outlook for 2023 Rockwool A/S provided revenue Outlook for 2023. For the year, the company expects Sales decline of up to 10% in local currencies. Reported Earnings • May 10
First quarter 2023 earnings released First quarter 2023 results: Revenue: €872.0m (down 5.6% from 1Q 2022). Net income: €78.0m (up 24% from 1Q 2022). Profit margin: 8.9% (up from 6.8% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Building industry in Europe. Upcoming Dividend • Mar 23
Upcoming dividend of kr.35.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 03 April 2023. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.3%). Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: €12.66 (vs €14.05 in FY 2021) Full year 2022 results: EPS: €12.66 (down from €14.05 in FY 2021). Revenue: €3.91b (up 27% from FY 2021). Net income: €273.0m (down 9.9% from FY 2021). Profit margin: 7.0% (down from 9.8% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €227, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Building industry in Europe. Total returns to shareholders of 3.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €153 per share. Annonce • Nov 25
Rockwool A/S Provides Earnings Guidance for the Year 2022 Rockwool A/S provided earnings guidance for the year 2022. For the year, the company expects Growth in net sales of 20% to 25% in local currencies and guiding revenue of EUR 3.7 billion to EUR 3.85 billion or something like that. Reported Earnings • Nov 24
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €1.01b (up 27% from 3Q 2021). Net income: €45.0m (down 43% from 3Q 2021). Profit margin: 4.4% (down from 9.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Rebekka Herlofsen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: €2.90 (vs €3.90 in 2Q 2021) Second quarter 2022 results: EPS: €2.90 (down from €3.90 in 2Q 2021). Revenue: €1.02b (up 31% from 2Q 2021). Net income: €62.0m (down 26% from 2Q 2021). Profit margin: 6.1% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.7%, compared to a 9.2% growth forecast for the Building industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Annonce • Aug 27
Rockwool Not to Sell Russian Factories Jens Birgersson, Chief Executive Officer of Danish insulation materials supplier Rockwool A/S (CPSE:ROCK B), has said that the company's four factories in Russia will remain in the group's ownership and production will continue. He said that a sale of the Russian assets to local owners would be a gift to people who will most likely have close links with the Russian state. According to Birgersson, Rockwool's technology is in a class of its own on the market, and sharing out of its intellectual property rights would result in considerable losses. Annonce • Aug 25
Rockwool A/S Provides Earnings Guidance for the Fiscal Year 2022 Rockwool A/S provided earnings guidance for the fiscal year 2022. For the period, the company expects sales growth in the range of 20% to 25% in local currencies. EBIT margin between 10% and 12%. Annonce • Aug 19
Rockwool A/S Lowers Earnings Guidance for the Year 2022 Rockwool A/S lowered earnings guidance for the year 2022. For the year, the company is lowering its expected EBIT margin from around 13% to between 10% and 12%. Annonce • May 19
Rockwool A/S Provides Sales Outlook for 2022 Rockwool A/S provided sales outlook for 2022. For the year the company is expecting the Growth in net sales of 20% to 25% in local currencies. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Rebekka Herlofsen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be €346, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.5% over the last 3 years. Earnings per share has grown by 3.2%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings is also forecast to grow by 6.9% per annum over the same time period. Board Change • Apr 13
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Rebekka Herlofsen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 31
Upcoming dividend of kr.35.00 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 11 April 2022. Payout ratio is a comfortable 33% and the cash payout ratio is 75%. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (3.7%). Lower than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €279, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Building industry in Europe. Total returns to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €315 per share. Reported Earnings • Feb 13
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €14.05 (up from €11.55 in FY 2020). Revenue: €3.09b (up 19% from FY 2020). Net income: €303.0m (up 21% from FY 2020). Profit margin: 9.8% (in line with FY 2020). Revenue exceeded analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 14%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 25
Third quarter 2021 earnings: Revenues exceed analyst expectations Third quarter 2021 results: Revenue: €799.0m (up 19% from 3Q 2020). Net income: €79.0m (up 2.6% from 3Q 2020). Profit margin: 9.9% (down from 12% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 11%, compared to a 9.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Annonce • Nov 25
ROCKWOOL International A/S Provides Earnings Guidance for the Year 2021 ROCKWOOL International A/S provided earnings guidance for the year 2021. For the year, the company expects Growth in net sales around 17% in local currencies. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS €3.90 (vs €1.80 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €778.0m (up 33% from 2Q 2020). Net income: €84.0m (up 110% from 2Q 2020). Profit margin: 11% (up from 6.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • May 21
First quarter 2021 earnings released The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: €672.0m (up 3.5% from 1Q 2020). Net income: €68.0m (up 12% from 1Q 2020). Profit margin: 10% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Annonce • May 07
ROCKWOOL International A/S Raises Earnings Guidance for the Year 2021 ROCKWOOL International A/S raised earnings guidance for the year 2021. For the year, the company now expects net sales growth of 10% to 12% compared to 3% to 5% as previously reported. Executive Departure • Apr 11
Second Deputy Chairman Søren Kähler has left the company On the 7th of April, Søren Kähler's tenure as Second Deputy Chairman ended after 5.4 years in the role. We don't have any record of a personal shareholding under Søren's name. A total of 2 executives have left over the last 12 months. Upcoming Dividend • Apr 02
Upcoming dividend of kr.32.00 per share Eligible shareholders must have bought the stock before 08 April 2021. Payment date: 12 April 2021. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (1.7%). Reported Earnings • Feb 12
Full year 2020 earnings released The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: €2.61b (down 5.4% from FY 2019). Net income: €251.0m (down 12% from FY 2019). Profit margin: 9.6% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations Revenue exceeded analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 3.5%, compared to a 3.6% growth forecast for the Building industry in Germany. Is New 90 Day High Low • Dec 17
New 90-day low: €280 The company is down 8.0% from its price of €305 on 18 September 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €196 per share. Is New 90 Day High Low • Dec 03
New 90-day low: €290 The company is down 4.0% from its price of €302 on 04 September 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €323 per share. Reported Earnings • Nov 27
Third quarter 2020 earnings released: EPS €3.50 The company reported a soft third quarter result with weaker revenues, although earnings and profit margins were flat. Third quarter 2020 results: Revenue: €672.0m (down 4.8% from 3Q 2019). Net income: €77.0m (flat on 3Q 2019). Profit margin: 12% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Analyst Estimate Surprise Post Earnings • Nov 27
Revenue misses expectations Revenue missed analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 2.9%, compared to a 2.6% growth forecast for the Building industry in Germany. Is New 90 Day High Low • Oct 02
New 90-day high: €323 The company is up 34% from its price of €241 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €118 per share. 
