Denmark: The major Danish insulation producer Rockwool has announced better-than-expected results for the fourth quarter of 2011. Based on the registered level of sales in 2011, Rockwool expects its sales to have increased by 17% over those of 2010. It expects that its profit after tax and minority interests will come in above Euro80m. In its third quarter report, the Rockwool Group had expected a sales increase of 15% for the full year 2011 compared to 2010 and a profit after tax and minority interests of approximately Euro74m.
The healthy sales trend in Rockwool products continued in the final quarter of 2011, which it says was due to the mild winter weather in Europe combined with strong underlying demand in core markets. Despite the challenging macro-economic environment (especially in Europe) and the rather low visibility, the Rockwool Group expects continued growth in 2012. The Group expects sales to increase by approximately 5% in 2012. It expects its profit after tax and minority interests to be kept at the 2011 level, above Euro80m.
