Displaying items by tag: Denmark
Denmark: Rockwool’s sales have been driven by its insulation markets in Europe and North America. Its sales revenue grew by 17.3% year-on-year to Euro468m in the first quarter of 2018 from Euro399m in the same period in 2017. Earnings before interest and taxation (EBIT) for its insulation business rose by 98% to Euro55m from Euro28m. Overall sales and earnings for the company across all business lines rose at a slower rate.
“The strong first quarter performance is primarily driven by growing demand for our non-combustible insulation as well as our focus on productivity improvements and pricing. Owing to our broad-based manufacturing footprint, particularly in Europe, we are able to flexibly service growing customer demand, even if this results in somewhat increased logistics costs,” the company said in a statement.
Rockwool appoints Bjørn Rici Andersen as Senior Vice President for Group Operations and Technology
22 February 2018Denmark: Rockwool has appointed Bjørn Rici Andersen as Senior Vice President for Group Operations and Technology. Andersen, currently working as Vice President, Group Operations, will join the Group Management role on 1 March 2018. Bernard Plancade, who has previously held this role in Group Management since 2015, will become Managing Director for Rockwool Core Solutions, based in Paris.
Denmark: Rockwool’s sales revenue for its insulation business has been driven by sales in Western and Eastern Europe. Its sales rose by 7.6% year-on-year to Euro1.31bn in the first nine months of 2017 from Euro1.22bn in the same period in 2016. Its earnings before interest and taxation (EBIT) rose by 18% to Euro129m from Euro109m. Earnings growth was driven by sales growth, improved pricing quality and a better utilisation of its US plant. Overall group sales and earnings also rose.
Denmark: Rockwool’s sales have grown in the first half of 2017 due to sales of flat roof insulation in Eastern Europe and general building insulation in North America. Its net sales rose by 6.6% year-on-year to Euro1.12bn from Euro1.05bn.
"As expected, the sales price increases we're implementing are beginning to show,” said chief executive officer Jens Birgersson. “Pricing will continue to be a major focus going forward, and we see positive market developments in the second half of the year, including an increasing interest for fire safe stone wool products. With better visibility for the remainder of the year, we are also increasing our guidance for sales growth."
Recticel to build new Euro23m plant in Finland
22 June 2017Finland: Recticel plans to build a new Euro23m polyurethane (PUR) foam insulation board plant. Production at the site is scheduled to start in the second half of 2018. The site will manufacture thermal insulation products for sale in Finland, Norway, Sweden, Denmark and the Baltic countries
“This investment is an additional step in the execution of the growth strategy of our Insulation business. It offers an attractive expansion in the Nordic region, which is a growing market for high performance insulation materials,” said Olivier Chapelle the company’s chief executive officer (CEO).
Denmark: Lars Christian Lilleholt, the Minister for Energy and Climate, has stopped subsidies for domestic cavity wall insulation projects due to problems related to the scheme. The subsidies were stopped on a temporary three-month basis in March 2017 and this had now been made permanent in conjunction with the energy companies that take part in the scheme. A survey published in March 2017 reported errors in 60% of the projects carried out under the scheme.
Rockwool sales rise on demand in Europe
18 May 2017Denmark: Rockwool’s net sales rose by 8% year-on-year to Euro543m in the first quarter of 2017 from Euro494m in the same period in 2016 due to growing insulation sales in Europe. The group also attributed extra working days in the period and favourable exchange rate swings. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 3.6% to Euro86m from Euro83m. The company’s insulation segment sales grew due to the market in both Western and Eastern Europe. Its earnings held up in North America due to sales growth, increased prices and better utilisation at a plant in the US.
Rockwool Group launches new brand identity
28 February 2017Denmark: Rockwool Group has launched a new brand identity including a new corporate symbol, a graphic representation of a volcano. It says that the symbol stands for the, ‘commitment to enrich modern living through processes and products that exist harmoniously.’ It will be used across all of the group’s brands. It is also intended to demonstrate to customers and stakeholders how the company uses volcanic stone to ‘enrich and transform modern living.’ The group has also adopted a new motto – ‘Release the natural power of stone to enrich modern living’ – to compound the theme.
“I am proud of the Rockwool Group’s long heritage in harnessing the power of one of the world’s most abundant natural resources in sustainable and innovative solutions that help solve the challenges of modern living. The updated brand identity marks an important evolution in the way we talk about our company, conveying a consistent vision and shared heritage across our diverse product portfolio’s full range,” said Mirella Vitale, Rockwool’s Senior Vice President for Group Marketing, Communications & Public Affairs.
Rockwool chairman stands down as sales remain static in 2016
24 February 2017Denmark: Bjørn Høi Jensen, the chairman of Rockwool, has announced that he will not be standing for re-election at the company’s annual general meeting in April 2017. He said that as he had met his goals to review the management group, start a new growth plan and introduce an ‘extensive’ improvement in results that he was standing down earlier than planned. He originally became chairman in 2014.
Rockwool’s external net sales for its insulation division dropped by 2% to Euro1.63bn in 2016 from Euro1.66bn in 2015. In local currencies the company calculated a slight rise of 0.7% for its net sales. However, its overall profit nearly doubled to Euro166m from Euro90m and its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 21% to Euro389m from Euro322m. It blamed the poor sales on the industrial and technical insulation industries and the slow development of construction in Russia in both new build and renovation. In a statement Jensen described 2016 as a year ‘marked by tough conditions.’
The insulation and building materials producer also announced that it was planning to build three new production plants including a stone wool factory in Mississippi, US. Land acquisitions for the projects are expected to be completed in 2017.
Rockwool’s insulation sales fall by 2% to Euro1.22bn so far in 2016
17 November 2016Denmark: Sales from Rockwool’s insulation business have fallen slightly by 2% year-on-year to Euro1.22bn in the first nine months of 2016 from Euro1.24bn in the same period in 2015. However, the group reported this as a 1.2% rise in local currencies. Earnings before interest and taxation (EBIT) rose by 61% to Euro114m from Euro71m. By region it said that sales performed well in North America, showed signs of improvement in Western Europe but continued to decline in Russia.