Skip to main content

Robust 2025 performance in a volatile and challenged market

Written by Customer Service on . Posted in Public Companies.

Annual Report for 2025
for ROCKWOOL A/S
Release no. 08 – 2026
to Nasdaq Copenhagen

4 February 2026

Robust 2025 performance in a volatile and challenged market

Highlights

  • On 13 January 2026, ROCKWOOL effectively lost control of the Russian business. Consequently, a loss of 392 MEUR from value adjustment related to the Russian business was recognised in 2025.
  • Revenue in 2025 reached 3,877 MEUR, an increase of 1.1 percent in local currencies. 2024 acquisitions accounted for 1.2 percent. In Q4 2025, revenue reached 967 MEUR, an increase of 0.8 percent in local currencies.
  • EBITDA in 2025 was 864 MEUR, with a 22.3 percent EBITDA margin, down 2.1 percentage points to 2024. EBITDA in Q4 2025 was 199 MEUR, with a 20.5 percent EBITDA margin, down 3.2 percentage points. Earnings declined due to the production-related incident in Flums, Switzerland, continued lower Russian performance and restructuring provisions partly offset by raw material deflation and moderate price increases.
  • EBIT in 2025 before the Russian business value adjustment was 570 MEUR, with an EBIT margin of 14.7 percent, down 2.8 percentage points. EBIT in Q4 2025 was 113 MEUR, with an EBIT margin of 11.8 percent, down 4.9 percentage points from Q4 2024. Depreciation increased due to the factory closure in China in December 2025 and the incident in Switzerland. Q4 EBIT including loss from the Russian business value adjustment was -279 MEUR.
  • Profit for the year was 28 MEUR, down 522 MEUR mainly due to the 392 MEUR loss from the Russian business value adjustment.
  • Investments totalled 473 MEUR, mainly related to the construction of new factories in the United States and India, the new production line in Romania and the electrical conversions in the Netherlands and France as well as digitalisation initiatives.
  • Good progress on decarbonisation as CO2 intensity decreased 25 percent compared to 2015 baseline, with two percentage points improvement in 2025.
  • The proposed dividend per share is 4.15 DKK, maintaining a payout ratio of 33 percent, when adjusting for the Russian result and value adjustment.
  • During 2025, the Group purchased 4,108,500 B shares related to the share buy-back programme for a total amount of 143 MEUR.

Outlook 2026

  • Revenue is expected to increase between 2-4 percent in 2026 in local currencies.
  • EBIT margin between 13-14 percent.
  • Investment level around 650 MEUR, excluding acquisitions.

    For further details on the outlook, please refer to the 2025 Annual Report, pp. 14-15.

CEO comment
Commeting on the Group’s performance, CEO Jes Munk Hansen says:

“Looking back on 2025, ROCKWOOL delivered a robust performance even though the broader economic and political environment was challenging. Our colleagues stayed focused on strengthening customer relationships, managing costs and pricing, and pushing ahead with long-term investments in capacity and decarbonisation. It’s also significant to note that we gained market share in the all-important Central Europe and North America regions, and that we will continue investing heavily in capacity expansion and electrification in 2026. 

Let me thank our customers for their continued partnership and our colleagues for all the good work. We look forward to the year ahead”.

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

Conversion of A shares to B shares:
Shareholders may from 4 February 2026 until 18 February 2026 request conversion of A shares to B shares. For further information please refer to https://www.rockwool.com/group/about-us/investors/conversion-shares/

Earnings call:
ROCKWOOL Group will host an earnings call on 5 February 2026 at 11:00 CET. The call will be transmitted live on www.rockwool.com.

Attachments

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.